J.P. Morgan Reports Strong Earnings but Trims Outlook
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J.P. Morgan posted a record profit for the second quarter, helped by a lending boost in both its consumer and commercial businesses. But the bank trimmed its full-year outlook for growth in lending and net interest income.
Citigroup's Revenue Rises Despite Slowdown in Trading
Citigroup said its second-quarter revenue grew 2%, topping Wall Street's expectations, as its trading desk saw a smaller-than-anticipated drop-off in activity.
AT&T to Separate Telecom, Media Businesses After Time Warner Merger
AT&T plans to separate its telecom operations from its media assets after clinching a takeover of Time Warner. It also will keep CEO Randall Stephenson atop the company with two lieutenants.
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Wells Fargo Gets Boost from Higher Rates but Loan Growth Stagnates
Wells Fargo reaped the benefits of higher interest rates in the second quarter, which helped push its profit higher. But stagnant loan growth and weaker revenue in areas like mortgage banking overshadowed progress on the bottom line.
PNC's Earnings Rise on Loan Growth
PNC Financial Services's second-quarter earnings and revenue topped estimates, helped by higher interest rates and growth in commercial lending.
Sino-Forest Accused of Fraud by Canada Regulator
Canada's top securities watchdog said Chinese timber company Sino-Forest and four then-top officials engaged in fraud to mislead investors about its financial condition and timber assets.
Fiat Chrysler Recalls 1.34 Million Vehicles
Fiat Chrysler said Friday it would voluntarily recall 1.34 million vehicles across the globe, amid concerns component failures could lead to inadvertent air bag deployments or be a potential fire hazard.
Startup Part-Owned by Kushner Brother Got Key Tech Invite
A White House technology summit last month featured leaders of the country's largest companies, including Apple, Amazon and Microsoft. Among them was a less-prominent figure: the CEO of OpenGov, a small startup partly owned by Jared Kushner's brother.
Uber Rival Grab in Talks for Up to $2 Billion From SoftBank, China's Didi
Uber's biggest rival in Southeast Asia, GrabTaxi, is raising more money to battle Uber in the region-as much as $2 billion from Japan's SoftBank and Chinese ride-hailing company Didi Chuxing.
DraftKings, FanDuel Call Off Merger
Online fantasy-sports operators DraftKings and FanDuel, which set aside their fierce rivalry last year and announced plans to merge, called off the tie-up in the face of opposition from U.S. regulators.
(END) Dow Jones Newswires
July 14, 2017 13:15 ET (17:15 GMT)