Kraft 2Q Profit Beats, Revenue Misses
Kraft posted higher-than-expected second-quarter profit but its revenue missed estimates and the company left its full-year targets unchanged.
American Express Says CFPB May Take Action Against Two Bank Subsidiaries
American Express Co. (AXP), the largest U.S. credit-card lender by spending, said Thursday the U.S. government's consumer-finance watchdog may take action against both of the credit-card lender's U.S. banking subsidiaries.
Bank of America, Fannie Mae in Talks on Mortgage Dispute -Reuters
Talks between Fannie Mae (FNMA) and Bank of America Corp. (BAC) concerning a dispute over bad mortgages have been "more constructive recently," Reuters reported Thursday, citing sources familiar with the matter.
RSA Buys Two Argentine Insurance Companies
The U.K.'s RSA Insurance Group PLC (RSAIF, RSA.LN) said Thursday it has acquired two Argentine insurers for an undisclosed amount.
SEC Reviewing Events Surrounding Knight Glitch
U.S. securities regulators on Thursday said they are taking a look at the events surrounding Knight Capital's crippling trading glitch this week.
Bank of America Received Subpoenas Related to Libor Probe
Bank of America Corp. (BAC) disclosed that it received subpoenas from the U.S. government, part of an inquiry related to how U.S. and European banks set Libor interest rates.
Government Bungled Solyndra Decisions, GOP Report Finds
Republican investigators said Thursday that the administration ignored internal warnings to cut its losses on solar-panel maker Solyndra, opting instead for a restructuring that led to a bigger loss for taxpayers.
Ecuador Expects to Produce 556,000 Barrels/Day in 2016: Minister
Ecuador expects to increase its average crude-oil output to 556,000 barrels a day in 2016, up 9% from the 510,000-barrel-a-day average it expects to produce this year, Wilson Pastor, minister of nonrenewable natural resources, said Thursday.
ConEd 2nd-Quarter Profit Up 27% on Lower Purchased-Power Costs
Consolidated Edison Inc.'s (ED) second-quarter profit rose 27% as expenses from purchased power, fuel and gas decreased, masking a decline in revenue.
Activision Blizzard 2nd-Quarter Net Down Nearly 45%; Boosts Outlook for Year
Activision Blizzard Inc. (ATVI) said its net income fell nearly 45% in the second quarter, but the videogame maker increased its full-year outlook based on strong expected sales of its coming titles for the holiday-shopping season.