Soros Transfers $18 Billion to Foundation, Creating Instant Giant
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The 87-year-old pioneer of hedge-fund investing has transferred the bulk of his fortune to Open Society Foundations, which vaults it into the big leagues. Soros Fund Management is expected to show a tamer investing style now the firm has a philanthropy as its main client.
Goldman Posts Surprise Profit Rise Despite Trading Woes
Goldman Sachs's investment bankers and portfolio managers drove a surprise rise in quarterly profit, compensating for another rough spell for the Wall Street firm's once-unstoppable traders.
Morgan Stanley's Earnings Rise on Strength in Wealth Management
Morgan Stanley said its third-quarter profit rose 12% to $1.78 billion as its giant wealth-management business continued to churn out reliable and growing profits even as trading revenue declined.
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SoftBank Creates Venture to Buy 8,000 Cellular Sites Across U.S.
Japanese telecom giant SoftBank Group plans to form a joint venture with Australia's Lendlease Group to buy about 8,000 cellular sites across the U.S., challenging tower operators that dominate the industry.
Facebook Pitches In on Intel's Coming Artificial Intelligence Chip
Intel Corp. said Facebook Inc. is providing technical input for a coming chip designed for artificial intelligence, as the semiconductor giant moves into a fast-growing market dominated by Nvidia Corp.
Airbus Secures Canadian Wingman in Dogfight With Boeing
Airbus and Boeing typically slug it out at air shows and on factory floors, but the rivalry took a different turn with the European group's deal to take a majority stake in Bombardier's CSeries jet project.
Bombardier's Stock Takes Off
Bombardie's share price soared to its highest level in more than two years as investors responded to news that Airbus SE agreed to take control of the company's struggling CSeries jet family.
CSX Chief Vows to Win Back Lost Business After Service Woes
CSX Corp. Chief Executive Hunter Harrison said the railway expects to win back any market share lost during this summer and sought to reassure investors that service problems were resolved.
Uber Likely to Reach a Deal With SoftBank in One Week
Uber is likely to reach a resolution within a week in talks with SoftBank over pricing for a complicated investment deal that could give the Japanese company a sizable stake, an Uber board member said.
UnitedHealth Revenue Grows Despite ACA Exit
UnitedHealth's shares gained after it said core insurance and health-services businesses grew in its latest quarter, despite a dent in revenue caused by the company's decision to pull out of most Affordable Care Act markets.
(END) Dow Jones Newswires
October 17, 2017 15:15 ET (19:15 GMT)