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American Express Co. on Monday posted a 15 percent rise in second-quarter profit, thanks to a pickup in the use of credit cards and charge cards by consumers and businesses.
The company's forecasts for the third quarter were weaker than analysts expected. "The outlook for the near term, in the September quarter, implies a fairly significant drop in operating margins," Mark Mahaney, an analyst with American Technology Research said.
George Soros, the hedge-fund manager who earned his place in trading history by betting successfully against the British pound in 1992, disclosed that the dollar would decline in value "against the euro, against the Canadian dollar, the Australian dollar, New Zealand dollar and gold.
Google is expected to give an indication of how much it expects bidders to pay for its shares in an updated initial public offering filing as soon as this week, according to potential investors.
IBM on Thursday reported its sixth consecutive quarterly rise in profit, as strength in computer hardware and services largely shielded it from the shortfalls that hit other technology companies.
Software giant Microsoft Corp. received a warning from Japan's anti-trust regulators about unfair business practices on Tuesday, but the decision did not carry the heavy fines the U.S. firm was given in Europe.
Quarterly results from widely watched companies such as Intel Corp. and Johnson & Johnson will get the earnings season into full swing over the coming days.
The company said the decision to claw back every penny of the bonus was made when the board realized the true scale of Sainsbury's problems.
At our core, regrettably, we had a chief financial officer and a few other people who, in fact, mismanaged the company's balance sheet and finances and enriched themselves in a way that once we got into a stressful environment in the marketplace, the company collapsed.
We are moving into a sweet spot for the economy with interest rates not too high, jobs coming back and business investment providing strength.
OPEC needs to stick to its pledge to raise daily crude oil output by half a million barrels on Aug. 1, even though U.S. oil prices are lower and inventories are higher.
Bank One Corp. agreed Tuesday on the eve of its final day as an independent company to settle regulators' allegations that it allowed a hedge fund to make improper mutual fund trades.
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