SoftBank Group Corp plunged on Wednesday to a quarterly loss that was far larger than analysts’ estimates, hit by the falling valuations of some of its biggest tech bets such as WeWork and Uber Technologies. The Japanese investment giant recorded an operating loss of 704 billion yen ($6.46 billion) in the July-September quarter. SoftBank recorded an operating profit of 706 billion yen in the same period a year earlier. The loss compared with an operating loss of 48 billion yen forecast on averag

German sportswear company Adidas said it expects a significant acceleration of sales in the fourth quarter after it reported stronger-than-expected sales and operating profit for the third quarter as it returned to growth in Europe. Sales rose a currency-adjusted 6% to 6.41 billion euros ($7.10 billion), beating average analyst forecasts for 6.32 billion euros, while operating profit was flat at 897 million euros, also above analyst consensus for 882 million euros. Nike reported sales rose a cur

The People’s Bank of China’s (PBOC) set its daily midpoint fix for the yuan on Wednesday at 7.0080 per dollar — its strongest since August 8. “(The yuan fix) was much stronger than what we were expecting. It was much stronger versus market expectations,” Divya Devesh, Asia foreign exchange strategist at Standard Chartered Bank, told CNBC’s “Street Signs” on Wednesday. Every morning, the Chinese central bank’s sets a midpoint for the yuan on the mainland. Also known as the onshore yuan, the curre

I think the next decade in China is going to be less miraculous than the last two. Larry Summers former U.S. Treasury SecretarySummers was Treasury Secretary under former U.S. President Bill Clinton and an economic advisor for former President Barack Obama. Global economic growth has slowed since last year — coinciding with the start of the U.S.-China trade war. The International Monetary Fund said in a report last month that the global economy is projected to grow 3% this year, slower than last

U.S. stock index futures were mixed Wednesday morning after the Dow Jones Industrial Average posted a fresh record close on Tuesday. ET, Dow futures were down four points point and implied a negative open of more than six points. Futures on the S&P 500 were seen fractionally lower while the Nasdaq was seen slightly higher. The Dow inched 0.1% higher to close at another new record on Tuesday, its third consecutive day of gains. CVS Health is set to publish earnings before the bell Wednesday Wynn

Xerox is planning to make a cash-and-stock offer for personal-computer and printer maker HP, the Wall Street Journal reported late Tuesday evening. The company’s board discussed the possibility on Tuesday, people familiar with the matter told the Journal, adding that Xerox has an informal funding commitment from a major bank. Xerox, which makes printers and copiers, has a market cap of $8.05 billion, less than a third of HP’s $27.27 billion market value. Representatives from Xerox were not immed

LISBON, Portugal — Europe’s technology industry is thriving and showing signs that it can compete with the U.S., the chief of Sony’s venture capital arm told CNBC. Tsuchikawa cited examples in the continent, such as innovations in Sweden’s music industry and Germany’s gaming scene. Sony’s VC fund is an investor in Swedish music sampling start-up Tracklib and Berlin-based esports firm Dojo Madness. He questioned the perception that Europe’s tech sector has lagged behind America and China’s. “Ther

WeChat Pay and Alipay are two of the most popular mobile payment methods in China, and most people pay on those platforms using barcodes, known as QR codes, on their phones. Users can then top up money onto a pre-paid virtual card and begin using Alipay across China. Ant Financial said Alipay will support Visa, Mastercard, Japan’s JCB and Singapore’s Diners Club cards. Tencent also said on Tuesday that it would provide support for the same cards, as well as American Express, on WeChat Pay. This

Stocks in Asia were set to trade higher on Wednesday as investors monitor developments on U.S.-China trade. Futures pointed to a higher open for Japanese shares, after the Nikkei 225 closed at 2019 highs on Tuesday. The Nikkei futures contract in Chicago was at 23,335 and its counterpart in Osaka was at 23,350, as compared to the Nikkei 225’s last close at 23,251.99. Meanwhile, shares in Australia edged higher in early trade, with the S&P/ASX 200 gaining more than 0.2%. Investors will continue t

Some food waste is out of your control. Whether you’re looking to reduce food waste for financial reasons or have other motivations, here are a few helpful strategies. I often use frozen vegetables, especially in winter when fresh vegetables are mediocre or out of season. I shop on Saturdays, so most of my Thursday and Friday dinners use frozen vegetables to keep fresh produce from going bad. I can turn a handful of leftover pasta into a delicious frittata or even a leftover pork chop into an om

The best credit cards can earn you at least 2X rewards on all you holiday shopping. If you’re looking for a credit card to earn rewards with this holiday season, there are hundreds of options. The best credit card for you depends on what type of holiday shopping you plan on doing — there’s no one size fits all card. Beware that statement credit redemptions are the best choice for cash-back credit cards but not necessarily rewards credit cards. It can be more cost effective to redeem rewards for

You don’t have to pay an annual fee to get a solid travel rewards credit card. To make sure you’re choosing the best no-annual-fee travel card for your needs, we analyzed 12 popular options using an average American’s spending annual budget and digging into each card’s perks and drawbacks to find the best of the best based on your travel habits. Cardholders earn 5% back in Uber Cash on all Uber purchases including Uber rides, Uber Eats orders and JUMP bike and scooter rides. Cardholders earn 5%

How Chipotle dominated fast-casual dining after disastrous food-safety scaresChipotle is one of the most popular Mexican-style food chains in the U.S. A series of food-borne illness incidents starting in 2015 caused the fast-casual chain to plummet. With new executive management and improved operations, Chipotle engineered a major turnaround and a stock price at an all-time high.

Market shows ‘no mercy’ to high-growth stocks, Jim Cramer says”At this pace, value will soon be regarded as expensive and the growth stocks” that were shown no mercy will look cheap, “Mad Money’s” Jim Cramer says.

WASHINGTON — Kentucky Attorney General Andy Beshear pulled off an upset Tuesday night in an apparent victory over Republican Gov. Matt Bevin, dealing a blow to President Donald Trump, NBC News projects. Tate Reeves is the apparent winner in the governor’s race over Democratic state Attorney General Jim Hood on Tuesday night, according to an NBC News projection. Tate was endorsed by President Donald Trump, who campaign for him in Tupelo on Friday night. Tate had been favored in the red state, whi

Comcast and Lions Gate, the owner of Starz, have both been contacted by the Department of Justice as part of an informal inquiry into two companies’ contract negotiations, according to people familiar with the matter. The New York Post was first to report on the informal inquiry, adding that no subpoenas or requests for discovery have been issued. Oct. 16, Lions Gate warned Comcast Xfinity customers that they may lose access to Starz amid the contract dispute. Lions Gate shares have plunged 49%

A trader works before the closing bell at the New York Stock Exchange (NYSE) on September 20, 2019 in New York City. Johannes Eisele | AFP | Getty ImagesDow Jones Industrial Average rises 30 pointsThe gained 30.52 points, or 0.11%, to 27,492.63 on Tuesday. Better-than-expected economic dataHelping lift the market a bit Tuesday was strong U.S. service sector data. The ISM non-manufacturing index came in at 54.7 for October, topping Dow Jones analysts’ estimate of 53.5. The service sector, which a

There may be winners and losers from a political point of view when it comes to the trade war between the U.S. and China. And they can help explain why there is more talk of a deal: Losses are mounting into the tens of billions of dollars for the U.S. and China. Compared with the first nine months of last year, trade data released Tuesday showed U.S. imports from China have fallen a sharp $53 billion. Compared with the first nine of months of 2017, before the trade war started, exports of minera

The most extreme response came from Twitter CEO Jack Dorsey, who last week announced that his company would ban political ads entirely because, he said, “political message reach should be earned, not bought.” Facebook and Zuckerberg have argued that political ads allow lesser-known candidates to gain attention and build followings that bigger candidates already have. “But political ads are an important part of voice, especially for local candidates, up-and-coming challengers, and advocacy groups

On Tuesday, Sen. Warren, who’s running for president, slammed Twitter’s new ad policy that bans political ads. Her criticism comes a week after Twitter said it would no longer allow political ads on its service, a policy that blocks ads from politicians, ads that refer to an election or candidate or ads related to politically-sensitive issues. Facebook CEO Mark Zuckerberg has defended his company’s political ads policy, saying in a speech at Georgetown University that “banning political ads favo