(Reuters) – The Dow Jones Industrial Average dropped just over 1 percent on Wednesday as big U.S. manufacturers and chipmakers bore the brunt of a deepening trade conflict between China and the United States. Traders react as they work on the floor of the New York Stock Exchange shortly after the opening…
Deep Thinkers: First jobs of top American minds
NEW YORK (Reuters) – With the recent demise of Stephen Hawking, humanity lost one of its greatest minds, someone able to contemplate the deepest and most perplexing mysteries of life and the universe. FILE PHOTO: Physicist Stephen Hawking sits on stage during an announcement of the Breakthrough Starshot initiative with investor Yuri…
China vows countermeasures as U.S. issues extensive tariff list
WASHINGTON/BEIJING (Reuters) – China condemned the United States on Wednesday as the Trump administration pushed ahead with plans to slap tariffs on about $50 billion of Chinese industrial and hi-tech products, and vowed imminent countermeasures in the escalating trade dispute. The U.S. government hours earlier unveiled a detailed breakdown of some 1,300…
Your money: How to deal with mortgage-rate envy
NEW YORK (Reuters) – Kristin Tassi spent last weekend happily settling into her new home in the Chicago area, but part of her brain was still obsessing over the mortgage rate she got for it. FILE PHOTO – A ‘for sale’ is seen outside a single family house in Garden City, New…
Wall Street edges higher as tech stocks bounce back
(Reuters) – U.S. stocks rose on Tuesday as technology shares recovered from a sharp selloff a day earlier, helping the S&P 500 and the Dow stay above an important technical level. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 26, 2018. REUTERS/Brendan McDermid…
Strong economy, discounts lift automakers March U.S. sales
DETROIT (Reuters) – Major automakers on Tuesday reported higher new vehicles sales for March on the back of a strong U.S. economy and big consumer discounts, sending shares in Detroit’s automakers up in morning trading. The 2015 Jeep Grand Cherokee is exhibited at a car dealership in Jersey City, New Jersey, U.S.…
Murdoch’s Fox could sell Sky News to Disney to appease UK regulator
LONDON (Reuters) – Rupert Murdoch has stepped up the pressure on Britain to approve his $14.5 billion bid for Sky (SKYB.L) by offering to sell or legally separate Sky News, seeking to allay concerns about the 87-year-old mogul’s political influence. Murdoch’s Twenty-First Century Fox (FOXA.O) said on Tuesday Sky News could be…
GM to drop monthly U.S. vehicle sale reports
DETROIT (Reuters) – General Motors Co (GM.N) said on Tuesday it will stop reporting monthly U.S. vehicle sales, saying the 30-day snapshot does not accurately reflect the market and the company will, instead, issue quarterly sales reports. A partially assembled Chevrolet 2017 Sonic is seen on the assembly line at GM’s Orion…
Price indications point to strong Spotify NYSE launch
LONDON/NEW YORK (Reuters) – Spotify Technology SA (SPOT.N) shares appeared on course for a strong debut on Tuesday, with opening indication ranges well above where the stock had been trading in its final days in private markets. While it has yet to open, price indications posted by its primary market maker were…
Steven Cohen wins dismissal of $8 billion Fairfax short-selling lawsuit
(Reuters) – The billionaire Steven A. Cohen has won the dismissal of an $8 billion lawsuit accusing him and his former firm SAC Capital Advisors LP of conspiring with other hedge funds to spread false rumors about Fairfax Financial Holdings Ltd, hoping to “crush” or “kill” the insurer. FILE PHOTO: Steven Cohen,…
Amazon shares pare some gains as Trump attacks company again
WASHINGTON (Reuters) – Shares of Amazon.com Inc (AMZN.O) pared earlier gains on Tuesday after U.S. President Donald Trump repeated his unsubstantiated claim that the world’s biggest online retailer’s deliveries cost the U.S. Postal Service money. FILE PHOTO – The logo of Amazon is seen on a building in San Jose, Costa Rica…
Pfizer in talks with P&G for consumer health unit sale: CNBC
(Reuters) – Pfizer Inc is in talks with Procter & Gamble Co for a sale of the largest U.S. drugmaker’s consumer health business, CNBC reported on Tuesday, citing sources. The Pfizer logo is seen at their world headquarters in Manhattan, New York, U.S., August 1, 2016. REUTERS/Andrew Kelly The companies were far…
Tesla says no need for capital raise as Model 3 output rises
(Reuters) – Tesla Inc quashed any speculation it might need to raise more capital this year on Tuesday, driving the company’s battered shares higher as it announced it built 2,020 of its cheaper Model 3 sedans in the last seven days of March. FILE PHOTO: A Tesla Model 3 sedan, its first…
Exclusive: EU antitrust regulators set to accept Gazprom concessions -sources
BRUSSELS (Reuters) – The European Union and Gazprom (GAZP.MM) are poised to settle a long-running antitrust case after the Russian gas company agreed to price reforms and to allow rivals to gain a foothold in eastern Europe, people familiar with the matter said. The logo of Russian gas giant Gazprom is seen…
China ready for proportionate response to U.S. tariffs: envoy
BEIJING (Reuters) – China will take counter-measures of the “same proportion” and scale if the United States imposes further tariffs on Chinese goods, China’s ambassador to Washington said, amid growing fears of an impending trade war. Cui Tiankai made the comments ahead of what is expected to be the announcement this week…
DoubleLine’s Gundlach says bitcoin leads stock market movements
NEW YORK (Reuters) – Bitcoin, the highly volatile digital currency, is proving to be the new stock market indicator, influential investor Jeffrey Gundlach said on Monday, adding that this is hardly just a “gut feeling” given the recent price movements. FILE PHOTO: Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP., speaks at…
Alibaba to buy remaining shares in food delivery app Ele.me
(Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd said on Monday it would buy the remaining shares of Ele.me, a major platform in China’s food delivery market, as it competes with Tencent Holdings Ltd services for offline consumers. Drivers of the food delivery service Ele.me prepare to start their morning shift…
Amazon shares fall 6 percent as Trump renews attack
(Reuters) – Shares of Amazon.com Inc (AMZN.O) fell 6 percent on Monday after U.S. President Donald Trump again attacked the online retailer over the pricing of its deliveries through the United States Postal Service and promised unspecified changes. FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of…
Latin American nations compete for capital in surge of oil auctions
HOUSTON (Reuters) – For decades, many Latin America’s oil-producing nations have often shunned investment from foreign firms, instead keeping their vast reserves under the tight control of governments and state-run oil companies. FILE PHOTO – View of the oil refinery Ecopetrol in Barrancabermeja, Colombia, March 1, 2017. Picture Taken March 1, 2017.…
Trump, Abe to discuss trade after U.S. aluminum, steel tariffs-White House
WASHINGTON (Reuters) – U.S. President Donald Trump will discuss “reciprocal trade and investment ties” with Japan’s prime minister Shinzo Abe during a visit later this month, the White House said on Monday. FILE PHOTO – U.S. President Donald Trump waves as he arrives with first lady Melania Trump for the Easter service…