Business

Early stock rally is mostly gone by the closing bell

Early stock rally is mostly gone by the closing bell Stock markets remained buoyant even though Fed Chair Janet Yellen has not explicitly ruled out a March interest rate hike from the central bank. The Federal Reserve's latest signals on interest rates gave US stocks a lift for much of Wednesday, but the rally didn't last. [Full Article...]

Stocks futures point lower as global selloff resumes

Stocks futures point lower as global selloff resumes The Nikkei 225 is down more than 20% from its peak levels, reached last June. Shares in Glencore (L:GLEN) tumbled 1.68% and Rio Tinto (L:RIO) lost 2.34% while Randgold Resources (L:RRS) and Antofagasta (L:ANTO) plunged 3.08% and 3.60% respectively. [Full Article...]

Pro racecar driver Scott Tucker charged in payday loan scam

Pro racecar driver Scott Tucker charged in payday loan scam The FTC said the Tuckers' payday lending enterprise materially misstated the cost of consumers' loans. Mr. Tucker, who races on European circuits, including the renowned 24-hour Le Mans race, had drawn scrutiny through several payday lending operations, including AMG Services Inc., that regulators have said he controlled. [Full Article...]

Elon Musk just revealed the biggest problem with the Model X

Elon Musk just revealed the biggest problem with the Model X It began delivering those vehicles in late 2015, and Musk said Tesla is "now significantly increasing Model X production". This year alone has seen Tesla Motors lose around 38 percent of its stock value so far. "The net result is that the Model X is an incredible vehicle". However, the company's stock is still down more than 30 percent since the beginning of the year. [Full Article...]

Honda adds 2.2M vehicles to Takata recall campaign

Honda adds 2.2M vehicles to Takata recall campaign Perhaps the biggest problem posed by the Continental recall is it puts more stress on the supply of replacement airbags for Takata, said Brauer. It has added 2.2 million vehicles to its fleet of late-model cars that are installed with potentially defective airbags. [Full Article...]

Qatargas Clinches 15-Year Contract to Supply LNG to Pakistan

Qatargas Clinches 15-Year Contract to Supply LNG to Pakistan The annual contract quantity for 2016 has been agreed at prorate of 2.25mt. The Long Term LNG SPA also provides for annual upward and downward flexibilities upto three LNG cargoes per contract year. Mr. Al-Kaabi said: "The State of Qatar Under the leadership and guidance of His Highness Sheikh Tamim Bin Hamad Al-Thani the Emir of the State of Qatar is constantly looking to expand and enhance its... [Full Article...]

European stock markets steady at open after rout

Spooked investors have been ditching bank shares in recent weeks amid anxiety the sector could see a repeat of the 2008 meltdown due to the slowdown in China, wider global economic woes and the falling price of oil. Moller-Maersk slumped 9 percent after the company reported a fourth-quarter net loss after booking impairments of $2.6 billion on its oil assets. European stocks opened slightly hi... [Full Article...]

Sears to Close at Least 50 More Stores

Sears to Close at Least 50 More Stores The Hoffman Estates, Ill .-based retailer run by billionaire hedge-fund manager Edward Lampert has been jettisoning assets to fund operating losses and other obligations. After a decline in its... Fifty stores, including Kmarts in Florence, Prattville and Dothan, will close as the company looks to reduce ongoing expenses, adjust its asset base and transform its business model. [Full Article...]

Google's Alphabet Becomes Most Valuable Company in the World

In the past year, Apple's stock has not performed well. Apple's has lost more than $200 billion in value in six months as investors have grown increasingly anxious that the company's growth has stalled. That beats Apple's current value which stands around $535 billion. Ronald Josey of JMP Securities said that, as long as the fundamental business endures to function well with augmented revenue ... [Full Article...]

ChemChina buys Syngenta in record Chinese deal

The ChemChina offer will allow for dividend payments to Syngenta shareholders of up to 16 Swiss francs per share, including a special dividend of 5 francs to be paid conditional on closing, they added. After the transaction is finalised, a board of directors composed of six members will be chaired by Ren Jianxin, president of ChemChina , and will include four members of the current board. [Full Article...]

After nearly a year, HBO Now has around 800000 paying subscribers

After nearly a year, HBO Now has around 800000 paying subscribers The introduction of HBO Now last spring may have marked a "transformative moment" for the premium cable network, but thus far consumer demand for the service has been somewhat underwhelming. CEO Richard Plepler said today that the company's 10-month-old standalone streaming service, HBO Now , boasts 800,000 subscribers. " HBO Now is an additive part of our growth strategy". [Full Article...]

Government sues Ferguson after city tries to revise deal

Government sues Ferguson after city tries to revise deal Louis suburb. Justice Department and Ferguson officials spent seven months negotiating before reaching a deal announced in January. But instead of taking up the negotiated settlement, Ferguson balked. Louis Wilson, a Ferguson, Mo., resident for 16 years, turns to talk to the crowd Tuesday, Feb. 9, 2016, as he addresses the Ferguson city council during the public comment portion of a meeting wher... [Full Article...]

US stocks open higher as Fed's Yellen signals caution

US stocks open higher as Fed's Yellen signals caution Ms Yellen added that "low commodity prices could trigger financial stresses in commodity-exporting economies" as well as in commodity-producing firms around the world. In prepared statements to Congress, Yellen outlined risk factors such as dropping commodity prices and the correction in China's economy as reasons to continue to monitor internal and external conditions ahead of another interest ra... [Full Article...]

Yellen: Global Problems May Slow US Economy

Yellen: Global Problems May Slow US Economy Yields had risen earlier as investors prepared for the auction and as stock markets stabilized, boosted by easing concerns about the banking sector and after Federal Reserve Chair Janet Yellen said the USA central bank has plenty of flexibility to adjust monetary policy if needed. [Full Article...]

Honda recalling 341000 Accords for airbags

Honda recalling 341000 Accords for airbags The Continental air bag control unit recall is separate from the extensive Takata air bag recall, which includes about 19 million vehicles in the US, according to the NHTSA . Blumenthal and Markey decried the use of the ammonium nitrate propellant as "the source of the problem with the faulty Takata airbags", in a letter to President Obama. [Full Article...]

China's biggest overseas buy seen in $43 bn Syngenta offer

ChemChina's latest purchase follows other Chinese overseas transactions this year including Haier Group Corp's (海爾) US$5.4 billion purchase of General Electric Co's home-appliance business to Dalian Wanda Group Co's (萬達集團) deal to buy control of Legendary Entertainment. [Full Article...]

Yellen: Persistent economic weakness could slow rate hikes

At 9:36 a.m. ET, the Dow Jones industrial average.DJI was up 56.77 points, or 0.35 percent, at 16,071.15. Wall Street appears set to open higher as investors look ahead to comments by Janet Yellen, the chair of the U.S. The Fed increased its benchmark federal funds rate, held near zero for seven years, to 0.25-0.50 per cent in December, and FOMC projections at the time implied it could raise rat... [Full Article...]

IRS Systems Failure Could Affect Refunds

IRS Systems Failure Could Affect Refunds Internal Revenue Service technology systems have stumbled out of gate just as tax filing season has started. The IRS has suffered numerous previous computer-related problems, ranging from failures in database controls to failing to screen workers who had access to personal data for millions of taxpayers. [Full Article...]

Alphabet becomes most valuable company, shares rise

Google's parent firm is on the verge of overtaking Apple as the world's most valuable company by market value after its latest revenues smashed expectations. "So I'd expect this situation to continue to evolve, and it may well be that Apple ends up passing Google again later this year or sometime next year". [Full Article...]

Economists sceptical as Bank of Japan surprises with negative interest rates

Economists sceptical as Bank of Japan surprises with negative interest rates CNBC noted that the Bank of Japan said in its statement that it will keep its negative interest rates policy for "as long as it is necessary". Bank share prices rose immediately after the Bank of Japan's announcement Friday before falling steeply and then paring losses at the close as investors digested the move. [Full Article...]


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