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Updated: 30 min 52 sec ago

Oil gains with Wall Street, but rising U.S. fuel stocks weigh

Wed, 01/16/2019 - 20:38
Oil prices edged higher on Wednesday, buoyed by a U.S. equity market rally and a supply cut agreement by OPEC+, but gains were limited by data showing growing U.S. refined product inventories and record crude production.
Categories: Financial Media

IAC sues Tinder co-founder, escalating fight over valuation

Wed, 01/16/2019 - 20:30
Online dating company Match Group Inc and its parent company IAC/InterActiveCorp have filed a lawsuit against Sean Rad, a co-founder of Match Group's popular dating service Tinder, of secretly copying company files and other proprietary information.
Categories: Financial Media

Yelp investor SQN says shares could surge to $55-$65

Wed, 01/16/2019 - 20:17
SQN Investors LP said on Wednesday Yelp Inc's shares could surge to between $55 and $65, up to 80 percent above its current price, if the customer review company appoints new board members and considers selling itself.
Categories: Financial Media

Sterling up after of May wins confidence vote; stocks climb

Wed, 01/16/2019 - 19:56
Major world stock indexes rose on Wednesday, with the S&P 500 supported by sharply higher U.S. bank shares after strong earnings, while the pound was up after British Prime Minister Theresa May's government won a confidence vote in parliament.
Categories: Financial Media

Kia issuing new U.S. recall of 68,000 vehicles for fire risks

Wed, 01/16/2019 - 18:05
Kia Motors Corp said on Wednesday it is issuing a new recall for 68,000 U.S. vehicles at risk of fuel leaks after it previously recalled them in 2017 for engine fire risks.
Categories: Financial Media

Market turmoil hits BlackRock's bottom line in fourth quarter

Wed, 01/16/2019 - 17:56
BlackRock Inc , the world's largest fund manager, reported a smaller-than-expected quarterly profit on Wednesday due to financial market turmoil, but investors celebrated the company's strong sales of relatively low-fee funds.
Categories: Financial Media

Exclusive: ADM CEO says wrong time for 'monster' acquisitions

Wed, 01/16/2019 - 17:54
U.S. grain merchant Archer Daniels Midland Co (ADM) has looked at buying rivals including Bunge Ltd. and dozens of other companies but decided the time is not right for "monster" acquisitions, the company's chief executive told Reuters.
Categories: Financial Media

Wall Street hits four-week high on BofA, Goldman boost

Wed, 01/16/2019 - 17:50
Wall Street's main indexes hit a one-month high on Wednesday, boosted by upbeat earnings from Bank of America and Goldman Sachs, with a multi-billion dollar deal in the fintech sector also helping a risk-on trade.
Categories: Financial Media

Airbus spends $300 million on new Alabama plant for A220 jet

Wed, 01/16/2019 - 17:45
Airbus expanded its industrial presence in the United States on Wednesday, preparing to breaking ground on a new assembly plant for the A220, 18 months after agreeing to buy the Canadian jetliner in the midst of a U.S.-Ottawa trade row.
Categories: Financial Media

IAC sues Tinder co-founder over business documents, escalating court fight

Wed, 01/16/2019 - 17:44
Online dating company Match Group Inc and its owner IAC/InterActiveCorp has filed a lawsuit accusing Sean Rad, a former employee known for co-founding the popular dating service Tinder, of secretly copying company files and other proprietary information.
Categories: Financial Media

Oil steady a day after big gain; rising U.S. fuel stocks weigh

Wed, 01/16/2019 - 17:40
Oil prices steadied on Wednesday after a 3 percent rise during the previous session, after data showed growing U.S. refined product inventories and record crude production, which could undermine global efforts to support prices.
Categories: Financial Media

World stocks rise; sterling up ahead of May vote

Wed, 01/16/2019 - 17:36
Major world stock indexes rose on Wednesday, with the S&P 500 supported by gains in U.S. bank stocks after strong earnings, while the pound edged up ahead of a no-confidence vote in British Prime Minister Theresa May's government.
Categories: Financial Media

Goldman dealmakers shine in Solomon's maiden quarter

Wed, 01/16/2019 - 17:18
Goldman Sachs Group Inc turned in a better-than-expected profit during David Solomon's first quarter at the helm, helped by dealmakers in the division the new chief executive once oversaw.
Categories: Financial Media

PG&E to get pulled out of S&P 500, shares near 2001 lows

Wed, 01/16/2019 - 17:18
** Embattled power utility company PG&E Corp will be replaced by healthcare equipment maker Teleflex Inc in the S&P 500 on Friday
Categories: Financial Media

Goldman Sachs CEO apologises for ex-banker's role in 1MDB scandal

Wed, 01/16/2019 - 17:11
Goldman Sachs Group Inc Chief Executive Officer David Solomon on Wednesday apologised to the Malaysian people for former banker Tim Leissner's role in the sovereign wealth fund 1MDB scandal, but said the bank had conducted due diligence before every transaction.
Categories: Financial Media

Businesses cry out for Brexit clarity, warn of no-deal chaos

Wed, 01/16/2019 - 17:03
Business leaders in Britain and beyond warned on Wednesday of catastrophic job losses and chaos at ports if the country does not agree a European Union withdrawal, turning up the heat on politicians to deliver clarity.
Categories: Financial Media

Better later: FX options signal more pound strength on Brexit delay signs

Wed, 01/16/2019 - 17:01
Hard Brexit, soft Brexit, no Brexit - or maybe just later Brexit?
Categories: Financial Media

Yelp's top investor says shares could surge to $55-$65

Wed, 01/16/2019 - 15:12
SQN Investors LP said on Wednesday Yelp Inc's shares could surge anywhere between $55 and $65, about 50-80 percent higher than its current price, if it implements the hedge fund's recommendations to check its "underperformance".
Categories: Financial Media

Goldman Sachs CEO apologizes for ex-banker's role in 1MDB scandal

Wed, 01/16/2019 - 15:04
Goldman Sachs Chief Executive Officer David Solomon on Wednesday apologized to the Malaysian people for former banker Tim Leissner's role in the sovereign wealth fund 1MDB scandal, but said the bank had conducted due diligence before every transaction.
Categories: Financial Media

Companies cry out for Brexit clarity, warn on no-deal

Wed, 01/16/2019 - 15:00
Furious companies facing weeks more uncertainty over an ever closer Brexit lashed out at politicians on Wednesday, and warned of chaos at ports and catastrophic job losses if Britain failed to secure a withdrawal deal with the European Union.
Categories: Financial Media

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