UPDATE 2-Shell to axe 6,500 jobs, cut spending to cope with lower oil prices By Ron Bousso and Karolin Schaps. LONDON, July 30- Royal Dutch Shell is to axe 6,500 jobs this year and step up spending cuts to deal with an extended period of lower oil prices which contributed to a 37 percent drop in the oil and gas group's second-quarter profits. The Anglo-Dutch company also said it was planning more asset disposals as it pushes ahead with its...
French, German tank makers sign tie-up agreement PARIS- French and German executives from two of Europe's leading armored vehicle makers signed a long-awaited merger deal Wednesday aimed at creating a new European champion in the $50 billion annual terrestrial defense market. The tie-up between France's state-owned Nexter Systems and privately held German firm KMW was inked in Paris at the Defense...
Source: The Associated Press
| By: By GREG KELLER, Associated Press
UPDATE 2-Higher incentives, strong dollar weigh on MasterCard's revenue July 29- MasterCard Inc, the operator of the world's second largest payment network, reported lower-than-expected quarterly revenue as it offered more rebates and incentives to win deals. MasterCard was also hurt by a strong dollar as markets outside the United States account for nearly 60 percent of its purchase volumes. Mastercard usually pays higher...
| By: Sudarshan Varadhan
UPDATE 1-Bombardier says not in talks with Siemens on rail deal MONTREAL/ FRANKFURT, July 29- Canadian plane and train maker Bombardier Inc denied a report on Wednesday that it is in talks with German engineering group Siemens AG on merging their rail units. The news comes after Siemens earlier this year downplayed the idea that it could combine its rail assets, which include trains, trams and signalling technology, with...
| By: Allison Lampert and Maria Sheahan
US extends JP Morgan bank breach investigation Federal authorities continue their investigation into the suspects of last year's online attack against JPMorgan Chase, The New York Times reports.
Source: The New York Times
| By: Matthew Goldstein
Anger grows over two-speed Poland, fueling political shift PIONKI, Poland- Marek Bogacki feels life in Poland 26 years after the fall of communism could hardly be better. Wearing a fine shirt and tie and enjoying brunch at a French bakery in Warsaw, the 35- year-old investment director at an insurance company ticked off places where he has vacationed, from New York to Thailand to Paris, saying the prosperity and freedom...
Source: The Associated Press
| By: By VANESSA GERA, Associated Press
UPDATE 1-Nintendo swings to Q1 op profit on strong figurine sales, weak yen TOKYO, July 29- Japan's Nintendo Co Ltd on Wednesday booked a profit for the April-June quarter, defying market expectations for a loss due to a weaker yen and strong sales of its "amiibo" figurines which are sold as accessories to its popular games. Nintendo swung to a first-quarter operating profit of 1.1 billion yen from a loss of 9.5 billion yen a year earlier.
In rise of U.S. vape shops, owners eye new marijuana market NEW YORK, July 29- When Matt and Jen Osmun opened their vape shop in Bethel, Connecticut, last December, they didn't expect to get a boost from the local medical marijuana outlet. "Sales are going really well, and getting better every month," said Jen Osmun, who started the business with her husband, a former plumber, after he was injured in an accident.
| By: Jilian Mincer
Bull v. bear on Twitter Rob Sanderson, MKM Partners, and Michael Graham, Canaccord Genuity, discuss their outlook on Twitter amid earnings.