Source Match Wholesale Industry News
By Ryan Vlastelica NEW YORK (Reuters) - U.S. stock index futures pointed to a slightly lower open on Friday as a weak July jobs report allayed concerns that the Federal Reserve would raise interest rates sooner than many had expected. On Thursday, Wall Street suffered its biggest one-day decline in months as data sparked worries the U.S. Federal Reserve could raise interest rates sooner than expected.
(Reuters) - Chevron Corp , the second-largest U.S. oil company, reported better-than-expected quarterly profit on Friday as higher energy prices offset rising expenses and production dips in Kazakhstan. Chevron's reliance on higher crude oil and natural gas prices to boost results, even as production falls, mirrored results from rival Exxon Mobil Corp on Thursday, and underlined Wall Street's concerns that international energy giants were not replenishing reserves fast enough. Chevron said net income rose to $5.67 billion, or $2.98 per share, in the second quarter, from $5.37 billion, or $2. ...
Chrysler Group LLC on Friday said its U.S. July auto sales rose 20 percent and that it expected the industry to show an 8 percent increase for the month. Nine analysts surveyed by Reuters had expected gains of 25.5 percent for Chrysler and 11 percent for the industry. Gains in U.S. auto sales have been stronger than the overall economy since the recession. Auto sales dropped to a low of 10.4 million vehicles in 2009 and have risen steadily since, reaching 15.6 million vehicles last year.
By David Brunnstrom and Matt Siegel NEW DELHI/SYDNEY (Reuters) - U.S. Secretary of State John Kerry told Prime Minister Narendra Modi on Friday that India's refusal to sign a global trade deal sent the wrong signal, and he urged New Delhi to work to resolve the row as soon as possible. A World Trade Organization pact to ease worldwide customs rules collapsed late on Thursday over India's demands for concessions on agricultural stockpiling. "Failure to sign the Trade Facilitation Agreement sent a confusing signal and undermined the very image Prime Minister Modi is trying to send about India," a U.S. State Department official told reporters after Kerry's meeting with Modi.
$4 million is barely a drop in the bucket for Google, which racked up $16 billion in revenue in the June quarter alone. But $4 million is the amount Google just burned on its mystery barge, which is reportedly about to be dismantled after Google had tried to use it as a floating showroom. The Portland Press Herald reports that Google’s West Coast barge has been towed to Turner’s Island Cargo Terminal in South Portland, Oregon, where the massive floating experiment is set to be dismantled. The 250-foot barge contained 60 shipping containers stacked into a four-story building that Google had planned to use as a reconfigurable private showroom for its various products such as Google Glass and Chromebook laptop computers. According to the
U.S. consumer spending rose for a fifth straight month in June, but a moderation in price increases suggested the Federal Reserve will not raise interest rates anytime soon. The Commerce Department said on Friday consumer spending increased 0.4 percent after rising by an upwardly revised 0.3 percent in May. Spending, which accounts for more than two-thirds of U.S. economic activity, had been forecast rising 0.4 percent after a previously reported 0.2 percent gain in May. When adjusted for inflation, consumer spending increased 0.2 percent after edging up 0.1 percent the prior month. Consumer spending in the second quarter increased at a 2.5 percent pace and the rise in June augurs well for an acceleration in spending in the third quarter. A price index for consumer spending rose 0.2 percent after advancing 0.3 percent in May. In the 12 months through June, the personal consumption expenditures (PCE) price index rose 1.6 percent.
NASA has its next rover all planned out. These include two instruments for detecting organic compounds, sensors for measuring environmental conditions, and an experimental device designed to produce oxygen from the Martian atmosphere. "Mars exploration will be this generation’s legacy." The Mars 2020 rover will use a design similar to that of the Curiosity Rover, and will focus on conducting geological assessments of the landing site, searching for signs of ancient Martian life, and determining the planet's suitability as a human habitat.
By Lucia Mutikani WASHINGTON (Reuters) - U.S. job growth slowed more than expected in July and an unexpected rise in the unemployment rate pointed to some slack in the labor market that could give the Federal Reserve room to keep interest rates low for a while. Nonfarm payrolls increased 209,000 last month after surging by 298,000 in June, the Labor Department said on Friday. July marked the sixth straight month that employment has expanded by more than 200,000 jobs, a stretch last seen in 1997. The one tenth of a percentage point increase in the unemployment rate to 6.2 percent came as more people entered the labor market, a sign of confidence in the job market.
By Blaise Robinson PARIS (Reuters) - Shares tumbled worldwide and the dollar rose on Friday amid expectations a U.S. jobs report would strengthen the case for an early interest rate rise by the U.S. Federal Reserve. U.S. non-farm payrolls, due at 08.30 a.m. EDT, are expected to show the United States added 233,000 jobs last month and the unemployment rate held steady at 6.1 percent. While encouraging for the global economy at large, strong job numbers would fuel expectations the Fed will raise rates soon. The U.S. central bank's ultra-loose monetary policy has helped drive a two-year rally in equity markets.
The iPhone accessory company backed by US TV star Ryan Seacrest is back after a legally imposed hiatus with a new and improved clip-on physical keyboard. Called the Typo 2 and available to pre-order now for $99 directly from the company's website, it comes in two pieces that clip together around an iPhone 5 or 5S like a case and gives owners a proper QWERTY keyboard alternative to the iPhone's on-screen effort. In September, when the Typo 2 officially starts shipping, it will have been nine months since the original Typo debuted. It arrived on the scene in January with considerable hype, thanks to Mr Seacrest's promotional efforts, but unfortunately the publicity caught the attention of BlackBerry who within days had filed a lawsuit claiming intellectual property violation.
(Reuters) - Procter & Gamble Co , the world's largest household products maker, reported a 37 percent rise in quarterly profit as its cost cutting efforts paid off and organic sales rose in its home care business. Shares of the maker of Pampers diapers and Tide detergent rose more than 2 percent before the bell. P&G has sought to cut expenses by streamlining management, lowering overhead and marketing costs, and cutting jobs under a five-year, $10 billion restructuring plan announced in February 2012. The company's operating expenses fell 7 percent $6. ...
Screen damage is a very frequent and frustrating issue with smartphone owners, and Apple apparently is very aware of how annoying the iPhone screen replacement process can be for its customers. 9to5Mac says the company has started receiving large quantities of iPhone 5s screens in its U.S. and Canada retail stores, which will replace broken iPhone 5s screens in the near future. This isn’t the first time word of Apple’s iPhone screen repair program got out, with previous reports detailing iPhone 5c screen repairs earlier this year. Considering Apple is expected to launch even bigger handsets later this year, figuring out a simple way to fix screen damage in its own stores appears to be a logical step for the
By David Ljunggren and Alastair Sharp OTTAWA/TORONTO (Reuters) - The recent hacking attempt on a sensitive Canadian government computer network is similar to attacks mounted by an elite unit of the Chinese army based in Shanghai, according to a cybersecurity expert. Canada said on Tuesday "a highly sophisticated Chinese state-sponsored actor" had broken into the National Research Council, a leading body that works with major companies such as aircraft and train maker Bombardier Inc . Beijing on Thursday accused Canada of making irresponsible accusations that lacked credible evidence. While Canada did not give details of the attack, CrowdStrike Chief Technology Officer Dmitri Alperovitch said it was similar to other hacking campaigns launched by a unit of the People's Liberation Army that his company has nicknamed 'Putter Panda.' The group, Unit 61486, has thousands of people and conducts intelligence on satellite and aerospace industries, he said.
Apple is apparently working hard on improving iTunes content download speeds for users, Streaming Media reports, with the company having already deployed its own content delivery network (CDN) that’s already serving some digital content to users, and having inked interconnect deals with ISPs to make sure content delivery gets prime treatment. Apple has already turned on its CDN in the U.S. and Europe, although it’s not clear to what extent it operates, as it tries to replace the CDNs it’s currently using – Akamai (for iTunes traffic) and Level 3 (for Radio).For example, OS X downloads arrive directly from Apple’s CDN, Streaming Media has discovered, by doing trace routes on them from multiple ISPs. The company clearly wants to further
A site called Quotacle might revolutionize the way you whip out movie quotes in an online discussion. It is a searchable repository consisting of over 250,000 lines from 143 movies. What makes it unique is that each entry comes with an embeddable clip showcasing the precise quote, and the ability to transform that moment into a GIF. Currently still in beta, Quoctacle also reveals which references are most popular on the site, while offering the option to procure a random quote from the existing library. It's clear that more work needs to be done, however. ...
Google on Thursday told European officials that forgetting isn't easy, especially when details are few and guidelines are murky regarding when personal privacy trumps public interest. The world's leading Internet search engine said that as of July 18 it had received more than 91,000 requests to delete a combined total of 328,000 links under Europe's "right to be forgotten" ruling. The most requests came from France and Germany, with approximately 17,500 and 16,500 respectively, according to a copy of a letter Google global privacy counsel Peter Fleischer sent to an EU data protection committee. Another 12,000 removal requests came from Britain, 8,000 from Spain, and 7,500 from Italy.
BEIJING (Reuters) - "Hundreds" of Chinese employees at Microsoft Corp's Nokia phone business protested on Friday against mass layoffs that the U.S. tech company announced last month, according to an employee present and pictures posted on social media networks. Protesters held banners and shouted slogans against "Microsoft's hostile takeover and violent layoffs" for five hours until "they had sore throats," said the employee who participated in the demonstration and so declined to be identified. Microsoft announced on July 17 the deepest job cuts in its 39-year history, amounting to 18,000 positions. Microsoft said up to 12,500 of those jobs would come from Nokia, the Finnish handset maker it bought in April in a $7.2 billion friendly takeover.
By Sophie Knight TOKYO (Reuters) - Japan's Sharp Corp said it expected revenue from Chinese smartphone makers to increase fivefold in the six months to September after a jump in smartphone panel orders helped boost operating profit by 55 percent in the first quarter. A big part of that recovery was due to demand from rising stars in China's smartphone market. Sharp's president, Kozo Takahashi, said the company expected revenue from Chinese handset makers to swell to 100 billion yen in the first half of the business year to Sept. 30. Sharp issued guidance earlier this year for 1 trillion yen in sales from LCD panels for the year to March 2015.
The wreckage of a drone has been found outside of a maximum security prison in South Carolina, according to Reuters. It is believed to have been used in an attempt to smuggle phones, marijuana, and tobacco into the Lee Correctional Institution. The discovery precipitated an investigation that would later lead to the arrest of 28-year-old Brenton Lee Doyle and a search for a second suspect. State Department of Corrections spokeswoman Stephanie Givens is cited as stating "officials believe it was the first time an unmanned aircraft had been used in an effort to breach prison walls in the state." While it might be a new incident for South Carolina, similar cases have cropped up across the world.
Copying the lead of other big tech companies such as Twitter, Facebook, and Google, eBay has detailed its workplace diversity for the first time. The figures released show a company that hires more women, Hispanics, and black people than its industry peers, but one that is still dominated by white and Asian men. 42 percent of eBay's 33,000 employees are women. By comparison, only 37 percent of Yahoo's and 30 percent of Google's workforces are female.
Part-nationalised British lender Royal Bank of Scotland said on Friday it had placed restrictions on its lending in Russia following developments in Ukraine. The European Union cut off financing for five major Russian banks on Thursday over Moscow's support for separatist rebels in Ukraine. The measures aim to prevent Russian banks from raising money on Western capital markets. RBS said it had reviewed credit ratings, adjusted lending limits and placed additional credit restrictions on new business in Russia.
WASHINGTON (AP) — For months, CIA Director John Brennan stood firm in his insistence that the CIA had little to be ashamed of after searching the computers of the Senate Intelligence Committee. His defiant posture quickly collapsed after a devastating report by his own inspector general sided against the CIA on each key point of the dispute with the Senate.
By Anshuman Daga SINGAPORE (Reuters) - P2i, a technology spin-off from Britain's Ministry of Defence, is looking to raise as much as 10 million pounds ($17 million) from Singapore investors as it readies the launch of its "Dunkable" or waterproof technology for smartphones and tablets. The fundraising by the nanotechnology company follows an expanding list of overseas firms tapping Singapore's pool of high net worth individuals. P2i's technology applies a thin, transparent, splash-resistant polymer coat to products ranging from clothing to mobile phones. The company is in the process of introducing a new version of the technology, which it calls "Dunkable", that will allow devices to survive being immersed in water.
By Wayne Cole SYDNEY (Reuters) - Activity in China's vast factory sector expanded at the fastest pace in 27 months in July, while industry surveys across Asia showed a pick up in export orders that hinted at a long-awaited revival in global trade. China's official manufacturing purchasing managers' index (PMI) rose to 51.7 in July - the strongest since April 2012 and up from 51 in June, the National Bureau of Statistics said on Friday. The upbeat result was echoed in the HSBC/Markit China measure of manufacturing which climbed to an 18-month peak of 51.7, from June's 50.7. "Taken literally, these PMIs signal an exceptionally strong start for third quarter growth in China," said Annette Beacher, head of Asia-Pacific research at TD Securities in Singapore.
By Alastair Sharp and Euan Rocha TORONTO August 1 (Reuters) - Canada's three biggest telecom firms, keen to keep shareholders happy with fat dividends, are breaking into businesses ranging from banking to healthcare to drive growth as they run out of expansion options and shy away from overseas purchases. BCE Inc , Rogers Communications Inc and Telus Corp dominate their industry in Canada but with landline connections on the wane, cable TV losing out to online portals and wireless growth slowing, Canada's telecom giants are pushing into uncharted businesses. Some of the moves - such as Rogers' C$5.2 billion-deal ($4.8 billion) for exclusive National Hockey League broadcast rights - may bring a rapid pay-off. Others, like Telus' bid to dominate healthcare services, are gambles that may not pay off for many years.
The net neutrality debate is far from over, especially since the FCC is still sorting through more than one million comments on the matter. Quartz reports that one of those comments comes directly from Major League Baseball, which argues against allowing for Internet “fast lanes” despite the fact that its own MLB Advanced Media (BAM) platform could benefit from such a scheme as long as MLB agreed to pay the proper fees to ISPs. MLB wasted no time pointing out the problems with the FCC’s proposal and argued that, ultimately, the regular consumer would pay the price, and that fast lanes would also affect competition. “Fast lanes would serve only one purpose: for Broadband ISPs to receive an economic windfall. American consumers would be worse off as the