22 April, 2015 by The TZ Newswire Staff Comments Off on AT&T profit beats Street estimates, fewer subscribers defect
AT&T profit beats Street estimates, fewer subscribers defect
The company, awaiting regulatory approval for its $48.5 billion proposal to buy DirecTV, sees additional cost savings of more than double than it previously forecast from the deal. AT&T also said it added 441,000 postpaid or contract subscribers and 1.2 million new wireless customers in the quarter. Shares of AT&T rose about 1.3 percent in after-hours trading. Excluding items, AT&T earned 63 cents per share, ahead of analysts’ average estimate of 62 cents, according to Thomson Reuters I/B/E/S.
22 April, 2015 by The TZ Newswire Staff Comments Off on China April flash HSBC PMI contracts to one-year low
China April flash HSBC PMI contracts to one-year low
China’s factory activity contracted at its fastest pace in a year in April, a private survey showed, suggesting that economic conditions are still deteriorating despite increasingly aggressive policy easing by the central bank. “Although momentum appears to have weakened recently we don’t see a reason to be overly concerned,” said Julian Evans-Pritchard of Capital Economics in Singapore.
22 April, 2015 by The TZ Newswire Staff Comments Off on Accused British ‘flash crash’ trader fights extradition to U.S.
Accused British ‘flash crash’ trader fights extradition to U.S.
LONDON/CHICAGO (Reuters) – A British man accused of market manipulation that contributed to the May 2010 Wall Street “flash crash” said he opposed being extradited to the United States, while the operator of the market where he traded sought to rebut prosecutors’ suggestion that futures helped cause the crash. Bail for Navinder Singh Sarao, 36, was set at 5 million pounds ($7.5 million), along with other conditions. Sarao’s bail hearing was his first appearance since the U.S.
22 April, 2015 by The TZ Newswire Staff Comments Off on Apple tests smartwatch market with quiet debut of Cook’s first product
Apple tests smartwatch market with quiet debut of Cook’s first product
The Apple Watch will launch with a whisper rather than a bang on Friday, an unusual start for the company that may reflect early uncertainty about demand for Apple Inc boss Tim Cook’s first new product. Apple was unsure whether the watch would create the lines snaking around stores that the company has historically seen with its iPhones, said Gene Munster, an analyst at Piper Jaffray. Demand turned out better than expected, according to Munster, who predicts more than 2 million watches will be sold in the quarter ending in June.
22 April, 2015 by The TZ Newswire Staff Comments Off on ‘Flash crash’ trader’s alleged fraud a common market occurrence
‘Flash crash’ trader’s alleged fraud a common market occurrence
The market manipulation case against the British day trader U.S. authorities say helped spur the May 2010 “flash crash” may be the most high-profile to date, but the type of activity he is accused of is actually quite common, market participants say. Navinder Singh Sarao was charged on Tuesday with allegedly using a computer trading program to generate large sell orders that pushed down prices.
22 April, 2015 by The TZ Newswire Staff Comments Off on McDonald’s recipe for success may need focus on consumers, workers
McDonald’s recipe for success may need focus on consumers, workers
As McDonald’s Corp prepares yet another plan to revive its business, company watchers have the following advice: reconnect with lower income consumers who remain faithful to the brand, improve wages and ease the financial burden on operators. Steve Easterbrook, the company’s new chief executive, on May 4 will announce his plan to reinvent McDonald’s as a “modern, progressive burger company” that is more responsive to global diners’ increasing demand for fresh, less processed and more customized food.
22 April, 2015 by The TZ Newswire Staff Comments Off on Delayed flash crash arrest may herald future spoofing detection woes
Delayed flash crash arrest may herald future spoofing detection woes
Navinder Singh Sarao, 36, was arrested in London on Tuesday, charged with market manipulation and wire fraud. The CME Group, the platform Sarao used for his trades and also a self-regulatory organization, first started talking to him about his trades in 2009, but he continued his alleged manipulation well into this year. “This will raise concerns about the stability of financial markets,” said Robert Engle, finance professor at New York University’s Stern School of Business.