Latest news for Prudential Jennison 20/20 Focus A(PTWAX) (See analysis on PTWAX)
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Thursday July 28th 2016: Latest financial news from the worldFed caution hits dollar as Japan anticipation builds
By Marc Jones LONDON (Reuters) - The dollar took its biggest tumble in almost two months on Thursday and stocks crept to nine-month highs as cautious sounds from the U.S. Federal Reserve left the focus firmly on Japan's next round of money-printing measures. The dollar was down 0.7 percent against six other major currencies after the Fed ended its meeting on Wednesday with little suggestion that it was in a rush to raise U.S. interest rates. The yen , meanwhile, notched its fourth rise in six days as news that Tokyo had unveiled a surprisingly large 28 trillion yen ($265 billion) stimulus package left traders wondering how aggressive the Bank of Japan would be when it meets on Friday.
Fed keeps rates unchanged, says risks to outlook reduced
The Federal Reserve left interest rates unchanged on Wednesday but said near-term risks to the U.S. economic outlook had diminished, opening the door to a resumption of monetary policy tightening this year. While Fed policymakers said they continued to closely monitor inflation data and global economic and financial developments, they indicated less worry about possible shocks that could push the U.S. economy off course. “Near-term risks to the economic outlook have diminished,” the Fed’s policy-setting committee said in its statement following a two-day meeting in which it left its benchmark overnight interest rate in a range of 0.25 percent to 0.50 percent.
As iPhone sales stagnate, services promise growth for Apple
Though Apple Inc is selling enough iPhones to keep investors happy for now, the world's most valuable publicly traded company is set increasingly to rely on its apps and services to drive growth. Apple's services business alone - which includes the App Store, Apple Pay and iCloud - will be "the size of a Fortune 100 company next year," Chief Executive Tim Cook said on a post-earnings call on Tuesday. Revenue from the business rose 19 percent to about $6 billion for the third quarter, eclipsing sales of iPads and Mac computers for the second consecutive quarter to rank as Apple's second-largest unit after iPhones.
Shell disappoints market as weak oil, BG deal costs hit profits
Royal Dutch Shell has disappointed investors with a 72 percent fall in quarterly profit that it blamed on weak oil prices and costs related to its $54 billion takeover of BG Group, showing how much strain it faces after the bumper deal. "Lower oil prices continue to be a significant challenge across the business, particularly in the upstream (sector)," said Chief Executive Ben van Beurden, who said last month he wanted Shell to be the best oil company for investor returns. The oil major is laying off some 12,500 workers over 2015-16.
Bytes and barrels: the origins of oil traders' love of Yahoo
For the oil industry, Yahoo Inc's decision this week to sell its core business to Verizon Communications Inc for $4.8 billion does not matter all that much. Back then, Yahoo's technology revolutionized the industry, helping usher in a new era of high-speed communication that changed the way millions of barrels of oil traded daily. For Gene Grabinski, who was trading crude in Chicago for BP Plc , one of the largest energy companies in the world, it was just the solution needed to stem the endless flood of phone calls as he bought and sold crude in the Midwest and U.S. Gulf.
Fall in Volkswagen brand profit shows lasting effects of scandal
Volkswagen reported a 12 percent drop in quarterly profit at its main passenger car division on Thursday, a big improvement on the quarter before but showing the challenges it still faces to overcome its emissions scandal. The German company published headline first-half numbers last week, saying underlying operating profit of 7.5 billion euros ($8.3 billion) beat analysts' expectations largely due to improvements at its mass-market VW brand. The brand, Volkswagen's largest by revenues, saw profits plunge 86 percent in the first quarter.
AstraZeneca helped by new drugs as cholesterol pill fades
Generic competition to cholesterol buster Crestor in the U.S. market pushed second-quarter core earnings down by nearly a third at drugmaker AstraZeneca, which is now banking on new cancer medicines to revive its fortunes. Its new lung cancer drug Tagrisso achieved stronger than expected quarterly sales of $92 million. Quarterly core earnings per share, which exclude some items, fell 31 percent to 83 cents as revenue slid 11 percent to $5.60 billion, following the arrival of the first copies of Crestor in the United States in May.
In clash of billionaires, Bloomberg calls Trump White House race 'a con'
By Amy Tennery and Jonathan Allen PHILADELPHIA (Reuters) - New York media mogul Michael Bloomberg assailed fellow billionaire Donald Trump on Wednesday, calling his U.S. presidential race a "con" and ripping into his history of bankruptcies and lawsuits. "Trump says he wants to run the nation like he's running his business? God help us," Bloomberg told the Democratic National Convention in Philadelphia to roaring applause.
SoftBank sees sharp recovery for Sprint, flags much investment for ARM
Japan's SoftBank Group Corp on Thursday flagged a sharp recovery for struggling U.S. unit Sprint and was bullish about long-term prospects for soon-to-be-acquired UK chip designer ARM . The telecoms and internet conglomerate unveiled plans this month to purchase ARM for $32 billion in cash, one of CEO Masayoshi Son's boldest bets yet, as he seeks to be at the forefront of the next wave of digital innovation. "I'm telling ARM management - let's increase the number of engineers, boost R&D spending and make investments proactively," Son told a briefing on SoftBank's first-quarter earnings where it reported flat profits.
Boeing's iconic 747 era could come to an end
Boeing also canceled plans to increase production of the 747 to one plane per month from 2019, and stuck to its earlier plan of halving the production rate in September 2016. Production rate on the 747, which was at 1.5 per month in June 2015, has gradually dropped to 1 a month in July 2016, signaling bad news for the jet's future plan. Boeing warned last week it planned to take $3 billion in pretax charges related to its 787, 747 and KC-46 tanker aircraft programs.
Adobe's virtual oil paint adds texture to digital painting
Level-5's 3DS puzzle series is back with 'Lady Layton'
Compra anticipada de iPhone 7 comenzará el 9 de septiembre: reporte
'Darksiders' rides again on PS4, Xbox One and Wii U
Sky's 'Buy & Keep' store now sells movie and TV box sets
Australia's biggest banks are tackling Apple Pay
Amazon brings its Dash grocery scanner to the UK
'Quantum Break' studio's next project isn't what you expect
Obama and Bloomberg and Biden, oh my! Twitter reacts to DNC heavyweights
Watch the Dota 2 International up close and personal in VR
Yahoo's upgraded Messenger App is now on desktops
Playstation VR launching in Asia same day as US
BigScreen adds audio sharing to fulfill its 'Virtual LAN' promise
Study identifies two new carcinogens in e-cigarette vapor
Samsung sees profit rise on sales of Galaxy S7
Researchers believe Jupiter's Red Spot is heated by thunder
Mercedes unveils world's first completely electric semi truck
The key to unlocking large-scale glasses-free 3D might be...the Nintendo 3DS? (Tomorrow Daily 398)
Apple has finally sold its billionth iPhone
Online activist group petitions to keep Trump out of security briefings
Samsung's mobile division is the company's top earner
The internet's Ice Bucket Challenge funded a medical discovery
Lastpass addresses two major vulnerabilities found by users
Twitch now makes highlight clips on any channel
Tech firms call on lawmakers to invest in STEM ed, reform immigration
Major League Soccer deal lets you buy tickets on other websites
A Donald Trump Bluetooth speaker as bold as the man himself
MIT's ridesharing network is learning to dodge pedestrians
Mark your calendars for Netflix return of 'Gilmore Girls,' 'Black Mirror'
Qualcomm agrees to pay $19.5 million in gender discrimination settlement
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