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U.S. judge urges VW, SEC to resolve civil Dieselgate suit

Fri, 08/16/2019 - 19:39
A federal judge in California on Friday urged the U.S. Securities and Exchange Commission and Volkswagen AG to resolve a civil suit stemming from its Dieselgate emissions scandal.
Categories: Financial Media

Wall Street jumps on German stimulus hopes

Fri, 08/16/2019 - 19:19
Technology shares led Wall Street's advance on Friday as a waning bond rally and news of potential German economic stimulus brought buyers back to the market at the close of a turbulent week.
Categories: Financial Media

Tyson recalls nearly 40,000 pounds of Weaver chicken patties

Fri, 08/16/2019 - 18:34
Tyson Foods Inc is recalling nearly 40,000 pounds of its Weaver chicken patties after some consumers found pieces of rubber in the product, the no. 1 U.S. meat processor said.
Categories: Financial Media

Rental firm walks away from Tesla order after quality dispute

Fri, 08/16/2019 - 18:15
Car rental company Nextmove has walked away from a 5 million euros ($5.55 million) order for 85 Tesla Model 3 electric vehicles following a dispute over how to fix quality issues, the German company said on Friday.
Categories: Financial Media

U.S. drillers add oil rigs for first week since June: Baker Hughes

Fri, 08/16/2019 - 18:11
U.S. energy firms this week increased the number of oil rigs operating for the first time in seven weeks despite plans by most producers to cut spending on new drilling this year.
Categories: Financial Media

Wall Street Week Ahead: Lower rates could boost housing stocks, but risks remain

Fri, 08/16/2019 - 17:51
Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook.
Categories: Financial Media

Germany's Nextmove cancels Tesla order, citing quality issues

Fri, 08/16/2019 - 17:41
German car rental firm Nextmove has canceled the bulk of a 100-vehicle order from Tesla worth 5 million euros ($5.54 million) over quality problems with the Model 3, it said on Friday.
Categories: Financial Media

PES up against the clock to sell Philadelphia refinery in cash crunch

Fri, 08/16/2019 - 17:27
Finding a buyer for Philadelphia Energy Solutions' oil refinery has grown urgent as the bankrupt company's funds dwindle and no signs emerge that it is winning a fight for insurance payouts after a June blaze at the plant, according to court documents and bankruptcy experts.
Categories: Financial Media

Oil rises alongside equities, but weak OPEC outlook caps gains

Fri, 08/16/2019 - 17:17
Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns.
Categories: Financial Media

Dollar firms, stocks soar on ECB rate cut expectations

Fri, 08/16/2019 - 17:06
The dollar strengthened while U.S. and European stocks surged on Friday amid growing expectations the European Central Bank will cut interest rates to stimulate the economy and after China said it plans to boost disposable income to spur consumption.
Categories: Financial Media

Deere to slash costs after trade war hits earnings

Fri, 08/16/2019 - 16:57
Deere & Co. on Friday announced a review of costs after a combination of the U.S.-China trade war and bad weather dented its quarterly profits, forcing the company to trim its full-year earnings forecast for a second time in the past three months.
Categories: Financial Media

Wall Street extends gains on German stimulus hope

Fri, 08/16/2019 - 16:55
U.S. stocks rose on Friday and were on track to end a bruising week on a positive note, bolstered by hopes of more stimulus from central banks to perk up slowing growth.
Categories: Financial Media

U.S. housing market mired in weakness; consumer sentiment ebbs

Fri, 08/16/2019 - 16:51
U.S. homebuilding fell for a third straight month in July amid a steep decline in the construction of multi-family housing units, but a jump in permits to a seven-month high offered hope for the struggling housing market.
Categories: Financial Media

OPEC sees bearish oil outlook for rest of 2019, points to 2020 surplus

Fri, 08/16/2019 - 14:41
OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to curb supply.
Categories: Financial Media

Technology stocks lift Wall Street at open

Fri, 08/16/2019 - 14:41
U.S. stocks opened higher on Friday in broad-based gains led by technology stocks, on easing bond market rally and China's plans to boost economic growth.
Categories: Financial Media

Take Five: Fed in a hole

Fri, 08/16/2019 - 14:40
On Wednesday, the U.S. Federal Reserve releases the minutes of its last meeting, revealing what policymakers said about the flattening Treasury yield curve and the strength of support for July's quarter-point rate cut.
Categories: Financial Media

Stocks gain on stimulus hopes but still head for third losing week

Fri, 08/16/2019 - 14:39
World stocks rose on Friday as expectations grew of further stimulus by central banks, offsetting worries about slowing economic growth, which intensified this week as the U.S. yield curve inverted for the first time since 2007.
Categories: Financial Media

Oil edges up as recession fears ease but OPEC outlook weighs

Fri, 08/16/2019 - 14:32
Crude oil prices rose on Friday, recovering from two days of declines, after data showing a rise in U.S. retail sales helped to ease recession concerns, although a bearish outlook from OPEC capped gains.
Categories: Financial Media

BMW's CEO urges staff to narrow sales gap with Mercedes

Fri, 08/16/2019 - 14:14
BMW's new chief executive urged employees to embrace change and to find innovative ways to help the Bavarian carmaker overtake rival Mercedes at a time when demand for luxury cars is waning.
Categories: Financial Media

Deere trims earnings forecast on trade war effects

Fri, 08/16/2019 - 14:09
Deere & Co. on Friday cut its earnings forecast and announced a review of costs after quarterly profits yet again missed Wall Street's estimates, hurt by bad weather and the U.S.-China trade war that have depressed sales of its farm machines.
Categories: Financial Media