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Updated: 1 hour 35 min ago

Apple says it supports 2.4 million U.S. jobs

Fri, 08/16/2019 - 00:12
Apple Inc said on Wednesday it was either directly or indirectly responsible for 2.4 million U.S. jobs, up 20% from the 2 million the technology company estimated in 2017.
Categories: Financial Media

SoftBank convertible note helped cut WeWork losses

Thu, 08/15/2019 - 23:37
Investors may be stumped by some of the finances WeWork owner We Company unveiled this week in its filing to go public, in particular a $486 million gain on a convertible note that made losses at the coworking firm appear a lot smaller.
Categories: Financial Media

Ackman confident portfolio can keep delivering strong returns: letter

Thu, 08/15/2019 - 23:20
Billionaire investor William Ackman, whose portfolio has gained almost 50% this year, said his fund can keep delivering "high, long-term" returns and that he expects Berkshire Hathaway Inc stock to help boost gains.
Categories: Financial Media

Trump says trade war with China will be fairly short

Thu, 08/15/2019 - 22:49
U.S. President Donald Trump said on Thursday he believes China wants to make a trade deal and the trade war with Beijing will be fairly short.
Categories: Financial Media

S&P 500, Dow gain as upbeat retail sales offset recession fears

Thu, 08/15/2019 - 22:10
The S&P 500 and the Dow gained ground in a late rally on Thursday as upbeat retail sales data offset recessionary fears amid the simmering U.S.-China trade tensions.
Categories: Financial Media

Democrat wants FCC to open T-Mobile, Sprint settlement for comment

Thu, 08/15/2019 - 21:53
U.S. Representative David Cicilline urged Federal Communications Commission Chairman Ajit Pai on Thursday to give the public the chance to comment on a draft order that would grant agency approval to the $26 billion merger of T-Mobile US Inc and Sprint Corp .
Categories: Financial Media

Stocks waver, dollar recovers on renewed growth worries

Thu, 08/15/2019 - 21:28
The dollar recovered from early weakness but a gauge of world equity performance edged lower on Thursday as concerns about global growth offset investor optimism over a surge in U.S. retail sales last month and strong Walmart earnings.
Categories: Financial Media

American, Southwest Airlines bump more passengers after 737 MAX grounding

Thu, 08/15/2019 - 20:40
American Airlines Group Inc and Southwest Airlines Co are bumping thousands of passengers off airplanes after their Boeing 737 MAX fleet's was grounded in mid-March following two fatal crashes.
Categories: Financial Media

Revlon taps Goldman to explore strategic options: Bloomberg

Thu, 08/15/2019 - 20:31
Cosmetics maker Revlon Inc has tapped Goldman Sachs Group Inc to explore options for its business, Bloomberg reported on Thursday, citing people familiar with the matter.
Categories: Financial Media

GE shares fall on Madoff whistleblower calling its finances a fraud

Thu, 08/15/2019 - 20:23
General Electric Co shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff's Ponzi scheme, said GE was concealing deep financial problems, prompting a sharp rebuke from GE's new CEO.
Categories: Financial Media

Wall Street struggles for direction as bond yields slide

Thu, 08/15/2019 - 19:45
Wall Street seesawed from red to black and back on Thursday as recessionary fears and simmering U.S.-China trade tensions offset upbeat retail sales data.
Categories: Financial Media

WTO paves way for China to seek sanctions against U.S.

Thu, 08/15/2019 - 19:37
The World Trade Organization (WTO) on Thursday adopted final findings against U.S. duties imposed on a range of Chinese imports, effectively giving Beijing a green light to seek compensatory sanctions.
Categories: Financial Media

GE CEO calls Markopolos report 'market manipulation' and 'false'

Thu, 08/15/2019 - 19:11
General Electric Co Chief Executive Larry Culp said on Thursday that a report alleging GE was hiding financial problems was "market manipulation – pure and simple."
Categories: Financial Media

Canopy Growth needs another 3-5 years to turn profit

Thu, 08/15/2019 - 18:57
Canopy Growth Corp said on Thursday it expects another three to five years to turn in a profit as Canada's largest cannabis company invests heavily to diversify and expand.
Categories: Financial Media

CFTC says Kraft, Mondelez to pay $16 million in wheat price manipulation case

Thu, 08/15/2019 - 18:56
The U.S. Commodity Futures Trading Commission (CFTC) said on Thursday Kraft Heinz Co and Mondelez International Inc will have to pay $16 million in penalty regarding a wheat manipulation case that dates back to 2015.
Categories: Financial Media

Strong U.S. retail sales ease gloom over economy

Thu, 08/15/2019 - 18:19
U.S. retail sales surged in July as consumers bought a range of goods even as they cut back on motor vehicle purchases, helping to assuage financial market fears that the economy was heading into recession.
Categories: Financial Media

GE shares fall on report that its finances are worse than disclosed

Thu, 08/15/2019 - 17:48
General Electric shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff's Ponzi scheme, said GE was concealing deep financial problems.
Categories: Financial Media

Wall Street higher on strong retail sales data

Thu, 08/15/2019 - 17:45
U.S. stocks tried to bounce back on Thursday from a steep selloff a day earlier, as strong retails sales data and upbeat Walmart earnings eased concerns of a recession, but mixed signals on trade and Cisco's dismal forecast capped gains.
Categories: Financial Media

Oil deepens slide on recession fears, China's trade threats

Thu, 08/15/2019 - 17:40
Oil prices fell more than 1% on Thursday, extending the previous session's 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.
Categories: Financial Media

J.C. Penney quarterly loss halves, sales still fall amid turnaround

Thu, 08/15/2019 - 17:20
J.C. Penney Co Inc reported a smaller-than-expected quarterly loss on Thursday, as the department store operator's efforts to cut costs and shutter unprofitable businesses paid off, sending shares of its penny stock higher by as much as 14%.
Categories: Financial Media

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