Sky News
Amazon has leap-frogged Walmart to become the most valuable retailer in the US following estimate-beating profit figures. Amazon said its second-quarter sales were 20% higher at $23.2bn (£15bn) compared with a year earlier. This beat estimates by analysts and caused shares in the company to spike at 19% higher in after-hours trading. The jump meant Amazon was valued as...

Sky News
Bloomberg is trying to get hold of the domain name which was used to publish a fake news story in its name that saw Twitter shares spike. The story purporting to be from the financial news service claimed that the social network had received a $31bn (£19bn) takeover offer. Bloomberg was quick to point out on its social media...

Sky News
Financial Times owner Pearson has agreed to sell the newspaper to Japan's Nikkei for £844m ($1.3bn), the companies said. The deal does not include the FT Group's headquarters in London or its 50% stake in The Economist magazine.  Pearson had been exploring the possible sale of the FT for weeks, the newspaper reported on its website. Those previously mentioned...

Sky News
By Mark Kleinman, City Editor The London-listed miner Lonmin is to pave the way on Friday for a major capital‎-raising when it expands a cost-cutting programme sparked by a slump in platinum prices. Sky News has learnt that Lonmin will announce alongside its quarterly production report that it intends to axe more than 5,000 jobs, an increase from the...

Sky News
Ferrari is to be floated on the New York Stock Exchange, under plans to spin off the luxury car-maker. Fiat Chrysler Automobiles, which owns a 90% stake in Ferrari, confirmed its proposals in a submission to the US Securities and Exchange Commission. The filing said an initial public offering, expected in October, would contain more than 10% of the business....

Sky News
By Mark Kleinman, City Editor The former HBOS chief executive Andy Hornby is to land a top management role at the gambling giant which will be formed from the multibillion pound merger of Ladbrokes and Gala Coral. Sky News has learnt that Mr Hornby will be named as chief operating officer of the new group - to be called...

Sky News
Greece's parliament has approved a new batch of reforms needed to secure talks on a possible €86bn bailout package. Prime Minister Alexis Tsipras headed off a revolt by rebels in his Syriza party to win parliament's backing for a second package of reforms. The bill passed with the support of 230 lawmakers in the 300-seat parliament thanks to the backing of...

Sky News
TSB, the challenger banking group being taken over by a Spanish rival, has reported a 44% fall in profits in the first half of its financial year. The company said its statutory pre-tax profit for the six months to 30 June came in at £23.2m compared to £41.7m in the previous half-year. TSB said its earnings were hurt by a...

Bloomberg.com
Galaxy Entertainment Group Ltd. is taking a stake in a Monaco casinos and hotels operator, as the company controlled by billionaire Lui Che-Woo expands beyond Macau amid a gambling downturn in the Chinese city. Galaxy is buying 5 percent of the shares of Societe des Bains de Mer et du Cercle des Etrangers a Monaco (SBM) from an...

Bloomberg.com
Fiat Chrysler Automobiles NV is recalling about 1.7 million late model Ram trucks to replace air bags that may deploy inadvertently. The two separate recalls include truck model years 2012 to 2015, according to a statement on the U.S. National Highway Traffic Safety Administration website on Saturday. Chrysler will notify owners and dealers and provide remedies free of...

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