(Reuters) - Time Warner Cable Inc , the second-largest U.S. cable TV operator, reported a 3.7 percent rise in quarterly profit as it signed up more residential subscribers to its high-speed data services. Net income attributable to common shareholders rose to $499 million, or $1.76 per share, in the second quarter ended June 30, from $481 million, or $1.64 per share, a year earlier. Revenue rose 3.2 percent to $5.73 billion. (Reporting By Lehar Maan in Bangalore; Editing by Saumyadeb Chakrabarty)
By Ryan Vlastelica NEW YORK (Reuters) - U.S. stock index futures were sharply lower on Thursday, after Argentina defaulted for the second time in 12 years, raising concerns the country's weakness could spread to the region. A big market decline would mean that all three major U.S. indexes may lose their gains for July, which had been set to be the sixth positive month for both the Dow and S&P 500. * Investors had hoped for a midnight deal with holdout creditors in Argentina, but the plan fell through. Dow Jones industrial average e-mini futures fell 85 points and Nasdaq 100 e-mini futures lost 25.25 points.
By Siddharth Cavale (Reuters) - Target Corp appointed PepsiCo Inc executive Brian Cornell as CEO as it tries to regain customer confidence after a devastating data breach last holiday season. Cornell resigned earlier this week as head of PepsiCo's Americas Foods business, which makes Quaker Oats and Frito Lay chips. He held the post since March 2012. Target removed Gregg Steinhafel, its CEO since 2008, in May after the data breach and a botched multi-billion dollar expansion into Canada. Chief Financial Officer John Mulligan was named interim CEO. ...
By Sarah Marsh BUENOS AIRES (Reuters) - Argentina defaulted for the second time in 12 years after hopes for a midnight deal with holdout creditors were dashed, setting up stock and bond prices for declines on Thursday and raising chances a recession could worsen this year. After a long legal battle with hedge funds that rejected Argentina's debt restructuring following its 2002 default, Latin America's third-biggest economy failed to strike a deal in time to meet a midnight deadline for a coupon payment on exchange bonds. "It is going to complicate life for businesses like YPF which were going to look externally for financing," said Camilo Tiscornia, a former governor of Argentina's central bank. State-controlled energy company YPF needs funds to develop Argentina's huge Vaca Muerta shale formation.
(Reuters) - ConocoPhillips, the largest U.S. independent oil and gas company, on Thursday reported a flat quarterly profit as higher costs offset an increase in oil and gas production. Income in the second quarter was $2.1 billion, or $1.67 per share, compared with $2.1 billion, or $1.65 per share in the year-ago period. The Houston company's oil and natural gas output from continuing operations was 1.56 million barrels oil equivalent per day (boed) in the quarter, up from 1.51 million boed a year earlier. (Reporting by Anna Driver; Editing by Dale Hudson)