IBM Has Another Revenue Drop During Its Transition
Continue Reading Below
International Business Machines Corp. reported declines in quarterly profit and sales in the third quarter, a sign the company's drawn-out transformation still has a way to go.
Soros Transfers $18 Billion to Foundation, Creating Instant Giant
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.
Continue Reading Below
J.P. Morgan to Buy Payments Firm WePay in First Major Fintech Buy
J.P. Morgan Chase said that it agreed to buy payments company WePay in the bank's first sizable acquisition of a financial-technology startup.
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.
SoftBank Creates Venture to Build or Manage Cellular Sites in U.S.
Japanese telecom giant SoftBank Group plans to form a joint venture with Australia's Lendlease Group to build or manage about 8,000 cellular sites across the U.S., challenging tower operators that dominate the industry.
GM Plans to Make Systems for Autonomous Cars
GM plans to make the bulk of the systems that go into an autonomous car, a shift from its previous strategy that thrusts it into direct competition with tech giants.
Facebook's Head of Research Lab Is Resigning
Regina Dugan, the head of Facebook Inc.'s cutting-edge hardware lab, Building 8, is stepping down after a year and a half.
Saudi Oil Minister Downplays Prospect of Aramco Abandoning IPO
Saudi Arabia still plans to publicly list a portion of its state oil company in 2018, the kingdom's oil minister said Tuesday, after reports that the effort may be abandoned.
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 17:15 ET (21:15 GMT)