Breaking business news: Facebook profit trounces estimates as ad sales rise

Click to View in Browser Wednesday, November 1, 2017 Facebook profit trounces estimates as ad sales rise (Reuters) - Facebook Inc reported better-than-expected quarterly profit and revenue on Wednesday as it pushed further into video advertising in a quarter dominated by reports that Russia allegedly used the social network to meddle in the 2016 U.S. elections. Tesla reports biggest-ever quarterly loss, Model 3 delays (Reuters) - Tesla Inc racked up a $619 million loss in the third quarter, its biggest-ever, driving its shares sharply lower as the electric-car maker spends to speed up production of its more affordable Model 3 sedan. Fed keeps rates unchanged, remains on road to December rate hike WASHINGTON (Reuters) - The Federal Reserve kept interest rates unchanged on Wednesday and pointed to solid U.S. economic growth and a strengthening labor market while playing down the impact of recent hurricanes, a sign it is on track to lift borrowing costs again in December. Wall St. edges higher after Fed holds steady on rates (Reuters) - Wall Street banked modest gains on Wednesday after the U.S. Federal Reserve kept interest rates unchanged and gave encouraging comments about the economy. U.S. factory activity index eases off 13-1/2-year high WASHINGTON (Reuters) - A measure of U.S. factory activity retreated from a 13-1/2-year high in October as some of the boost from hurricane-related supply disruptions faded, but continued to point to strengthening manufacturing conditions. Luxury auto brands are scrambling to avoid a blue Christmas DETROIT (Reuters) - When financial markets surge to new records, sales of luxury cars usually rise, too. Instead, October U.S. auto sales reports on Wednesday showed that a collapse in sales of luxury sedans is accelerating. Snapdragon chips demand helps Qualcomm top estimates (Reuters) - Smartphone chipmaker Qualcomm Inc reported a better-than-expected profit and revenue for the fourth quarter, boosted by demand for its Snapdragon mobile chips. Record Thanksgiving air travel could boost U.S. airlines NEW YORK (Reuters) - U.S. airline profits in the first nine months of 2017 fell 20 percent year over year, but the busiest Thanksgiving travel period in more than a decade could give carriers a boost, according to an industry trade group on Wednesday. Siemens Gamesa needs more wind in its sails as Vestas stretches U.S. lead FRANKFURT/MADRID (Reuters) - Siemens Gamesa has fallen behind biggest rival Vestas in the race for orders in the United States, hurt by a perceived lack of technology investment and a less centralized supply chain in the world's second-biggest wind turbine market. OPEC likely to keep oil supply curbs for whole of 2018: sources DUBAI (Reuters) - OPEC is likely to stay the course by keeping its current curb on oil production in place for the whole of 2018 despite potential output disruptions next year, Gulf OPEC sources said. Related Video Wal-Mart to throw holiday parties Breakingviews TV: Saudi Arabia vs. Dubai Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today News you can use with actionable, timely advice for managing your financial life, including retirement, taxes, real estate, education and more. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2017 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook