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(Reuters) - Kraft Heinz Co reported disappointing quarterly results, including a $15 billion charge related to the value of its marquee Kraft and Oscar Mayer trade marks, and said it had received a subpoena from the U.S. Securities and Exchange Commission about its accounting practices.

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Investing.com – Canada stocks were lower after the close on Thursday, as losses in the Energy, Consumer Staples and Healthcare sectors led shares lower.

WASHINGTON (Reuters) - The U.S. Federal Reserve said on Thursday it was barring former JPMorgan Chase & Co (NYSE:JPM) Managing Director Timothy Fletcher from the industry for life over his role in a China hiring program for which the bank was fined $264 million in 2016.

By Caroline Valetkevitch

(Bloomberg) -- Fast-food chains were hoping 2019 would bring a truce in the price wars, but the battle for cheap fare is still in full swing.

(Bloomberg) -- The U.S. banking industry demolished previous profit records, making $237 billion last year as lenders benefited from lower taxes and soaring revenue, the Federal Deposit Insurance Corp. said Thursday. Industry net income was $59 billion in the three-month period that ended Dec. 31, marking another quarter with profits around the $60 billion mark after they hovered around $40 billion a quarter for years after the 2008 crisis, according to the FDIC’s Quarterly Banking Profile. The 2018 total was 44.1 percent higher than a year earlier. Only 6.5 percent of banks were unprofitable as the industry took in a record $205 billion in revenue for the quarter, the agency said. Income from interest rose 8.1 percent in the quarter compared with a year earlier. Loan and lease balances were up 2.1 percent since the previous quarter. “Loan balances expanded, net interest margins improved and the number of ‘problem banks’ continued to decline,” FDIC Chairman Jelena McWilliams said in a statement. McWilliams cautioned that “the recent flattening of the yield curve may present new challenges in lending and funding.” Because 2018 also saw the FDIC hit its statutory goal for building up its deposit-insurance fund, big banks are also getting a break on what they pay into the fund. Wall Street lenders didn’t see a lot of help in last year’s overhaul of the Dodd-Frank Act, but bankers have been steadily lobbying the regulators appointed by President Donald Trump on relieving some of the burdens of post-crisis rules, and they’re counting on winning some of those arguments.

DETROIT (Reuters) - Ford Motor (NYSE:F) Co said on Thursday it had hired outside experts to investigate its vehicle fuel economy and testing procedures after employees raised concerns, and did not know whether it would have to correct data given to regulators or consumers.

BOSTON (Reuters) - Hedge fund Third Point told investors in a letter on Thursday that it was happy with progress at some of its biggest holdings, including Nestle SA (SIX:NESN), and was well positioned to make money when the market sells off anew.

NEW YORK (Reuters) - Weak economic reports pressured U.S. stocks on Thursday after the market's recent run of gains, and a drop in healthcare shares added to the bearish momentum.

The Dow ended its three-day winning streak Thursday as downbeat economic data raised concerns about the strength of the U.S. economy, while U.S.-China trade talks remained in the spotlight.

BERLIN (Reuters) - Sportswear firm Puma is launching a joint collection with Porsche Design, the fashion and accessories brand owned by the German car company, tapping into demand for premium products just as luxury labels are moving into the market for sportswear.

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