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Wall St. advances as earnings, economic data beat expectations

May 16, 2019 by  
Filed under News

Wall Street extended its rally in afternoon trading on Thursday as upbeat earnings and strong economic data put investors in a buying mood, with technology companies leading the charge.


Source: Reuters Business News

Huawei ban clouds U.S.-China trade talks, tech sector

May 16, 2019 by  
Filed under News

A U.S. bid to block China’s Huawei Technologies from buying vital American technology threw into question sales from some of the largest tech companies and drew a sharp rebuke on Thursday from Beijing, which warned it could hurt trade talks.


Source: Reuters Business News

Fed needs to let inflation rise above 2%, Kashkari says

May 16, 2019 by  
Filed under News

Low U.S. inflation expectations are sapping the Federal Reserve’s ability to respond to a future downturn, Minneapolis Fed President Neel Kashkari said Thursday, calling for the Fed to allow inflation to rise above 2% to bring the economy back to full strength.


Source: Reuters Business News

Fed may not be able to engineer higher inflation: Kashkari

May 16, 2019 by  
Filed under News

The Federal Reserve should not cut interest rates unless there is hard data signaling economic weakness ahead, Minneapolis Fed President Neel Kashkari said on Thursday, and should not rely on a rate cut to try to kickstart a healthier level of inflation.


Source: Reuters Business News

Bayer confident of appeals of glyphosate weed killer court defeats: executive

May 16, 2019 by  
Filed under News

Bayer AG is confident its appeals of recent court rulings that its glyphosate weed killer Roundup caused cancer will be successful, a senior executive said on Thursday, amid a steep selloff of the company’s shares this week.


Source: Reuters Business News

Supersonic jets must be no noisier than existing planes: airports group

May 15, 2019 by  
Filed under News

A new generation of U.S.-produced commercial supersonic jets must be no louder than existing planes or risk exacerbating existing complaints over noise from air traffic, Angela Gittens, director of Airports Council International (ACI) said.


Source: Reuters Business News

Alibaba beats revenue expectations on cloud boost

May 15, 2019 by  
Filed under News

Chinese e-commerce giant Alibaba Group Holding Ltd beat fourth-quarter revenue forecasts on Wednesday, thanks to growth in its core business and its diversification into cloud computing and other services.


Source: Reuters Business News

WeWork starts $2.9 billion property platform with Canada's CDPQ

May 15, 2019 by  
Filed under News

The We Company, parent of workspace provider WeWork, said on Wednesday it has created a $2.9 billion real estate investment platform with funding from one of Canada’s largest pension funds, building on ties with private equity firm the Rhone Group.


Source: Reuters Business News

U.S. near to resolving tariff row with Canada, Mexico: Mnuchin

May 15, 2019 by  
Filed under News

The United States is close to resolving a dispute over steel and aluminum tariffs with Canada and Mexico, U.S. Treasury Secretary Steven Mnuchin said on Wednesday as high-level American and Canadian officials met to discuss trade issues.


Source: Reuters Business News

Pelosi had 'productive meeting' with U.S. trade representative on deal: aide

May 15, 2019 by  
Filed under News

U.S. House of Representatives Speaker Nancy Pelosi had a “productive meeting” with U.S. Trade Representative Robert Lighthizer almost entirely focused on a new United States-Mexico-Canada (USMCA) trade deal, one of her aides said on Wednesday.


Source: Reuters Business News

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