Tuesday, 24 October 2017

Breaking business news: AT&T results miss estimates as video competition rises

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Tuesday, October 24, 2017
AT&T results miss estimates as video competition rises
NEW YORK (Reuters) - AT&T Inc's quarterly results missed Wall Street estimates as the U.S. No. 2 wireless carrier lost video subscribers to traditional and online TV competitors and fewer of its existing customers upgraded their devices ahead Apple Inc's launch of the iPhone X.
Dow jumps with upbeat 3M, Caterpillar earnings
NEW YORK (Reuters) - The Dow rallied on Tuesday, registering its biggest daily percentage gain in more than a month, as stronger-than-expected results and forecasts from companies including 3M and Caterpillar fueled optimism about economic strength.
Twitter to label election ads after U.S. regulatory threat
SAN FRANCISCO (Reuters) - Twitter Inc said on Tuesday it would add labels to election-related advertisements, following a threat of regulation from the United States over the lack of disclosure for political spending on social media networks.
Chipotle's sales disappoint, shares dive 6 percent
(Reuters) - Chipotle Mexican Grill Inc reported a smaller-than-expected rise in sales at established restaurants, hurt by mixed reviews of its new queso side dish and a Norovirus outbreak that forced the brief closure of a Virginia restaurant in July.
Auto industry tells Trump 'We're winning with NAFTA'
WASHINGTON (Reuters) - Major automakers, suppliers and auto dealers launched a new coalition on Tuesday to urge U.S. President Donald Trump not to withdraw from the North American Free Trade Agreement.
GM's earnings beat, forecast lift shares; supply glut shrinks
DETROIT (Reuters) - General Motors Co posted stronger-than-expected pre-tax profit for the third quarter on Tuesday, helped by cost-cutting and a shift to higher-margin trucks and sport utility vehicles, and its shares jumped to a record high.
At least three buyout groups seen advancing in Unilever spreads auction: sources
LONDON (Reuters) - At least three bidders are expected to be shortlisted for the second round of an auction for Unilever's margarine and spreads business while two other private equity groups are no longer in the fray, sources told Reuters.
CWA union to oppose Sprint, T-Mobile deal over job losses
WASHINGTON (Reuters) - The 700,000-member Communications Workers of America (CWA) union said on Tuesday it would oppose a deal to merge wireless carriers Sprint and T-Mobile, arguing that such a move would cost tens of thousands of jobs in the United States.
Whirlpool to stop selling big-name brands at Sears
(Reuters) - Whirlpool Corp said on Tuesday it would continue to supply several of its products to Sears Holdings Corp and discontinue only the supply of brands including Maytag fridges, KitchenAid products and Jenn-Air appliances.
Nestle follows Campbell Soup in quitting food manufacturer lobby group
NEW YORK (Reuters) - Nestle SA is leaving the Grocery Manufacturers Association (GMA), a lobby group that represents hundreds of food companies in Washington, a spokesman for the group said, just months after a similar decision by Campbell Soup Co .
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