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Snap shares plunge 20pc as quarterly revenue misses estimates

Quarterly revenue exploded to $149.6 million in the first quarter, nearly a four-fold increase from the quarter before, but analysts were expecting revenue to reach around $158 million. Its nearest competitor Facebook-owned Instagram now has 700 million users, with its "Stories" feature having 200 million daily active users. Snapchat , however, has already been more than eclipsed by Instagram Stories.

Business

China agrees to allow USA beef imports

The initial slate of commitments from the two countries marked the first sign of progress on the 100-day action plan that President Donald Trump and Chinese President Xi Jinping called for during their meeting at Trump's Florida estate last month.

Business

Treasurys slide after the Fed says growth slowdown is 'transitory'

The decision to leave the target federal funds rate unchanged in a range of 0.75 per cent to 1 per cent was unanimous and in line with forecasts. Indeed, first quarter growth in gross domestic product advanced just 0.7 percent in the first quarter.

Business

Scandal-hit BT calls time on staff and chief's bonus

The misery has now spread to some of BT's employees. BT has lowered its earnings guidance and reduced its outlook for dividend growth to reflect the tough start to the year when it has been plagued by a number of issues notably the accounting scandal in its Italian operation.

Business

Lower iPhone Sales Hit Apple's (AAPL) Stock Price, For How Long?

Cook, who was in India a year ago, said that Apple had set a new March quarter record for India, where revenue grew by strong double digits. Revenue from China came down 14%, although Mr Cook partly blamed currency headwinds for the drop.

Business

SBI says free ATM transactions not withdrawn

The bank levies a service charge of 3 per cent plus service tax using immediate payment service (IMPS) for fund transfer through SBI Buddy to bank account. In case of cash deposit into the bank's mobile wallet worth Rs 1,000 done through business correspondents, it will attract a service charge of 0.25 per cent (minimum Rs 2 and maximum Rs 8) plus service tax.

Business

Canada Rookie Tied for Lead at Players

Hughes had a solid round of five birdies and no bogeys. Phil Mickelson didn't get in a practice round this week and still shot 70. Alex Noren, a prolific four-time victor on the European Tour last season, birdied his final hole to cap a flawless 68 to join Ryder Cup star JB Holmes on four under, a score later matched by exciting young Spaniard Jon Rahm.

Business

Oil stable on expectations of extended OPEC-led production cut

Presumably contributing to the dismal scenario painted by Vitol are indications that OPEC countries including de facto cutback leader Saudi Arabia - while adhering to their cutback quotas - are chomping at the bit to break free of their self-imposed production restraints.

Business

SoftBank recognises $1.4 billion losses from India investments in 2016-17

Further, in the last week of April, the news came out that internet giant SoftBank was all set to invest over $1.4 billion in Paytm. The payments company had earlier forecast seven million daily transactions and gross merchandise transactions of Rs 20,000 crore by the end of fiscal 2017.

Business

Leaked Labour manifesto rules out 'no deal' Brexit

Mr Corbyn avoided reporters as he arrived for the meeting, with his auto driving into the building through a side entrance. "Our manifesto will be an offer - and we believe the policies in it are very popular - that will transform the lives of many people in our society." The source said Mr Corbyn has travelled with the specialist protection unit on other occasions during the campaign, as is customary for an opposition leader in a General Election.

Business

Sean Spicer: Trump will not announce Paris climate decision until after G7

The White House on Tuesday postponed for a second time a key meeting on whether the United States should withdraw from the worldwide Paris climate change pact advocated by former President Barack Obama . But speculation has increased that President Donald Trump may withdraw America over fears it could hamper his oil and gas reforms. As speculation continues about how Trump will handle the agreement, Tillerson is set to travel to Alaska for an Arctic Summit council this week amid ...

Business

Trump creates panel to investigate voter fraud

The commission, which will include Republicans and Democrats, will be tasked with studying "vulnerabilities" in US voting systems and potential effects on "improper voting, fraudulent voter registrations and fraudulent voting", according to one official with knowledge of the announcement.

Business

Former PM John Howard slams Scott Morrison over bank tax

Political analyst Laurie Oakes, who has covered 48 federal budgets for the Nine Network, said the budget could have been handed down by a Labor government, but said it "does what the government needs to do" to "lift it out of the electoral doldrums".

Business

Govt 'upfront' about company tax: Morrison

And here we are in the year 2017 and that budget surplus has remained ever-so elusive. Follow Business Insider Australia on Facebook , Twitter , LinkedIn , and Instagram . This is a smart tax. The moves are aimed at alleviating public concerns about the dominance of the big banks following a series of scandals in the banking sector and public allegations of abuse of market power.

Business

Mother-daughter in London terror plot

Boular, Dich and 20-year-old Khawla Barghouthi were detained April 27 during police raids in London and nearby Kent county. It is said Boular was the leader of the alleged terror plot, assisted by the other two women. Police have now completed searches of all the addresses connected with the operation. Police officers man the cordoned off area in London's Harlesden Road, after British counter-terror police shot a woman and arrested several people in raids.

Business

Chelsea's Antonio Conte hopeful David Luiz will be fit for Middlesbrough game

The Brazilian fell to the ground off the ball towards the end of the impressive victory at Goodison Park and limped off to be replaced by Nathan Ake. "I didn't speak to the doctor about his injury but I don't think it's a serious injury".

Business

EU court advised to treat Uber as a transport service - what now?

Uber operates a transport service, not a software service, and so can be subject to taxi licensing regulations, the Advocate General of the Court of Justice of the European Union advised Thursday. The opinion represents a bloody nose but not a full knockout for Uber in its continuing fight in Europe, a region still crucial to the company despite rapid expansion in emerging markets like India.

Business

Trump says he 'may align' tax reform with infrastructure

He said he can't release them because they are being audited, a claim which he repeated in the interview with the Economist . "If you do need Democratic support for your tax plan, your ideal tax plan, and the price of that the Democrats say is for you to release your tax returns, would you do that?" he was asked.

Business

The Coca-Cola Co (KO) Shares Sold by Addenda Capital Inc

Tracking most recent quarter period, Price to book (P/B) ration is at 3.22 and Price to cash per share ration is at 18.31. Jefferies Group LLC reaffirmed a "neutral" rating and set a $45.00 target price on shares of The Coca-Cola in a research report on Tuesday, April 25th.

Business

ICE Arrests Over 1300 People in Six-Week Long Nationwide Operation

From Brownsville to north of Austin 1,378 arrests have been made in the anti-gang operation that officials are calling "Project New Dawn". According to a news release, Operation Community Shield netted 1,378 arrests in the United States, the largest gang roundup conducted by Homeland Security Investigations.

Business

United States lumber tariffs to hinder Canada's lumber industry

Canadian Prime Minister Justin Trudeau said Tuesday that Canada and the USA could suffer from what he called a "thickening" border, a day after the Trump administration imposed new tariffs on softwood lumber and trade tensions between the two countries escalated.

Business

OPEC calls for 'collective efforts' to counter U.S. oil boom

ET), above a session low of $49.18, while U.S. West Texas Intermediate futures CLc1 were up 11 cents at $46.54 per barrel. Exchange-traded funds linked to oil prices, continued to climb today as crude prices remained on track to end the week in the green amid data showing that the USA crude glut is shrinking and OPEC's production cuts are making a dent in global supplies.

Business

Airport Chaos, Flights Canceled: Spirit Airlines Apologizes

Hundreds of flights have been canceled in the last week, including some into and out of Myrtle Beach, because of the slowdown, which the airline blames on the pilots' union that is negotiating contracts for the workers. ABC7NY.com says that "about 500 people were in the Spirit terminal" when three individuals, all in their 20s, "were seen by deputies threatening the airline's front counter employees".

Business

Why Analysts Stacks up on Kratos Defense & Security Solutions, Inc. (KTOS)?

Analysts have placed a $4 price target on CAREDX, INC., suggesting a 304.04% gain from recent close. Massachusetts-based Commonwealth Equity Ser Inc has invested 0.01% in Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS). The firm had revenue of $167.80 million during the quarter, compared to analysts' expectations of $159.53 million. During the same period a year ago, the firm earned ($0.13) earnings per share.

Business

Parnassus Investments CA Decreases Position in Micron Technology, Inc. (MU)

In case of Revenue Estimates, 5400000 analysts have provided their consensus Average Revenue Estimates for Micron Technology, Inc .as 25000. Coconut Grove Bank boosted its stake in shares of Micron Technology by 1,422.5% in the first quarter.

Business

Spirit Airlines Causes Explosive Brawl After Canceling Dozens Of Flights Last Minute

The airline claimed there was "an unlawful job action by Spirit pilots" and that the pilots have been "purposely and unlawfully disrupting the airline's operations". So there is an incentive for the airline to reach a deal with pilots that makes the union, and new hires, happy. "We were called in to just make sure that things were kept from getting very unruly".

Business

Donald Trump says Australia has a better healthcare system than the US

Mr Turnbull received similar backlash on social media for his appraisal of President Trump's congressional victory, which is expected to leave 24 million more Americans without health coverage by 2026, Reuters reported . Those lawmakers who voted in favor of Thursday's "draconian and mean spirited, punitive legislation" have missed the point, said NNU executive director RoseAnn DeMoro: "There is only one way to fix healthcare-to improve Medicare , one of the signature reforms in US ...

Business

Los Angeles Olympic organizers putting plans on display

The IOC has thrown a wrinkle at competing cities this year by suggesting it might award the 2024 games and, at the same time, give the 2028 games to the runner-up. "If America is a nation of immigrants, then L.A.is its ground zero", Garcetti said. "Ask anybody from LA what their best memory was of the 1984 Games and they'll say there was no traffic ", said Wasserman, a successful sports talent agent who acted as an Olympic torch bearer during the flame relay for the 1984 games.

Business

President Trump Is Confident That Israel And Palestine Will Find Peace

Trump said he has always heard that a peace agreement between Israel and the Palestinians was the "toughest deal" to close. Abbas said he hoped the U.S. Trump , on his part, said that he was looking forward to welcoming Abbas back to the White House in order to work towards a final status agreement between the two sides.

Business

French Election Soothes Sentiments: ETFs Likely to Benefit

U.S. President Donald Trump called to congratulate Macron, while on the Kremlin website, Russian President Vladimir Putin urged Macron to "overcome mutual mistrust and unite to ensure worldwide stability and security". When he was economy minister, the country flared up last summer as the Socialist government of which he was part forced through new watered-down labour laws, blocking fuel depots and halting trains and planes.

Business

Oil up on falling USA inventories, Saudi cuts to Asia

OPEC is expected to decide at talks on May 25 whether to extend the current deal to cut production for an additional six-months to the end of the year. As oil dropped below $50 last week, analysts expect producers will be forced to continue the cuts. Despite an overall drop in OPEC crude production in April, Saudi Arabia's output increased, according to a monthly report from the cartel out Thursday.

Business

Timing on Trump's firing of Comey is certainly suspicious

On Monday, Trump asked Rosenstein to put his concerns about Comey into writing after the deputy attorney general and Sessions asked for the White House meeting, Sanders said. Do voters want patsies for Trump in Congress or independent representatives to hold Trump accountable? House and Senate committees are investigating the allegations.

Business

United States US mulling extending carry-on computer ban to Europe

At the moment, only Royal Jordanian Airlines, Egypt Air, Turkish Airlines, Saudi Arabian Airlines, Kuwait Airways, Royal Air Maroc, Qatar Airways, Emirates and Etihad Airways are affected by the US ban. Laptops and tablets would need to be checked-in ahead of flights and stored in the cargo hold. "We're expecting something to happen, we're just not sure exactly what or when", said a senior executive at a major European airline.

Business

Boeing halts test flights of new plane over engine issue

Boeing has three models of its 737 MAX line, numbered 7, 8 and 9. Boeing says it had not detected any issue with the engines during flight testing that commenced in January 2016. The updated 737 Max jet is expected to become Boeing's biggest cash cow as it ramps up production to record levels in the coming years. Boeing fell 1.2 percent to $183.18 at the close in NY, the second-biggest decline on the Dow Jones Industrial Average, after adjusting for the beginning of trading ...

Business

Dakota Access pipeline leaked 84 gallons of oil in April

South Dakota officials are looking into a small leak along the route of the Dakota Access Pipeline that spilled 84 gallons of oil. Two barrels, or 84 gallons, of oil spilled within a containment area that has about 6 inches of gravel on top of a non-permeable liner covering the ground, said Vicki Granado, a spokeswoman for developer Energy Transfer Partners.


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