Page 2676 - Business Finance
Shanghai crude futures eat into Western benchmarks as China pushes yuan
SINGAPORE (Reuters) - The launch of China's first crude futures contract in Shanghai has added a long-awaited Asian benchmark to the global oil sector, challenging the dominance of Western price-markers and threatening ramifications far beyond the energy industry.
UK consumers defy Brexit blues, but companies fret - surveys
LONDON (Reuters) - British consumers appear little fazed by the possibility of a no-deal Brexit, but businesses have turned more worried, surveys showed on Friday.
Trump cancels pay raise due to federal workers in January
President Donald Trump is cancelling pay raises due in January for most civilian federal employees, he has informed Congress, citing budget constraints. But the workers still could see a slightly smaller boost in their pay under a proposal lawmakers are considering. Trump said yesterday that he was nixing a 2.1 per cent across-the-board raise for most workers as well as separate locality pay increases averaging 25.7 per cent. "We must maintain efforts to put our Nation on a fiscally sustainable course, and Federal agency budgets cannot sustain such increases," said Trump. The president last year signed a package of tax cuts that is forecast to add about $1.5 trillion to federal deficits over 10 years. Trump cited the "significant" cost of employing federal workers as justification for denying the pay increases, and called for federal worker pay to be based on performance and structured toward recruiting, retaining and rewarding "high-performing Federal employees and those with ...
Argentina's peso in freefall despite central bank rate hike to 60 percent
BUENOS AIRES (Reuters) - Argentina's peso lost as much as nearly one-fifth of its value on Thursday despite the central bank's hiking its benchmark interest rate to a dizzying 60 percent as investors panicked over President Mauricio Macri's handling of an economic crisis.
Buffett says Berkshire buying own stock, more Apple
NEW YORK (Reuters) - Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc , on Thursday said the conglomerate bought back its own stock for the first time since 2012 and added to its already huge stake in Apple Inc .
As Tesla shares fall, Amazon takes over as most shorted U.S. stock
NEW YORK (Reuters) - With Tesla Inc's shares briefly dipping below the $300 level on Thursday, the electric carmaker ceded its seat as the most shorted U.S. stock to Amazon.com Inc , according to data from financial technology and analytics firm S3 Partners.
U.S. stocks drop on fear of escalated trade spat; Argentine peso roiled
NEW YORK (Reuters) - The rally in U.S. stocks came to a halt on Thursday on new concerns that the U.S.-Chinese trade dispute will intensify, while economic turmoil in Argentina and Turkey sent those countries' currencies tumbling.
Papa John's criticises founder for restaurant merger meeting -letter
NEW YORK (Reuters) - Papa John's International Inc has publicly criticised founder John Schnatter for attending a meeting in July about a potential deal with a competitor without its CEO, the latest salvo in a feud for control of the company.
Factbox: Winners and losers from the new NAFTA deal
(Reuters) - Talks between Canada and the United States intensified on Thursday as the two countries pushed for a deal on a revamped North American Free Trade Agreement by a Friday deadline, with both sides upbeat about the progress made.
Wall Street rally halted by trade worries
NEW YORK (Reuters) - U.S. stocks ended their four-day winning streak on Thursday as trade anxieties resurfaced and investors sold risk ahead of the long Labor Day holiday weekend.
Silicon Valley executive pays SEC insider trading fine for tipping brothers
(Reuters) - The U.S. Securities and Exchange Commission said a former senior executive at Qualys Inc will pay a $581,170 insider trading penalty for helping his brothers sell their shares in the Silicon Valley cloud security company after learning it would report disappointing revenue.
U.S. stocks drop on China trade worries; Argentine peso roiled
NEW YORK (Reuters) - The rally in U.S. stocks came to a halt on Thursday on new concerns that the U.S.-Chinese trade dispute will intensify, while economic turmoil in Argentina and Turkey sent those countries' currencies tumbling.
Trump ready to ratchet up China trade war with more tariffs - report
WASHINGTON (Reuters) - U.S. President Donald Trump is prepared to quickly ramp up a trade war with China and has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week, Bloomberg News reported on Thursday.
Crude rises to highest since July on sanction concerns
NEW YORK (Reuters) - Oil prices rose on Thursday to the highest in more than a month, extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. inventories.
Trump eager to slap tariffs on $200 billion of China imports - Bloomberg
WASHINGTON (Reuters) - U.S. President Donald Trump is ready to increase trade tensions with China, telling aides he wants to impose tariffs on $200 billion more in Chinese imports after a comment period ends next week, Bloomberg News reported on Thursday.
Argentine peso in free-fall despite central bank rate hike to 60 percent
BUENOS AIRES (Reuters) - Argentina's peso lost as much as nearly one-fifth of its value on Thursday despite the central bank's hiking its benchmark interest rate to a dizzying 60 percent as investors panicked over President Mauricio Macri's handling of an economic crisis.
Walmart adds toys and shelf space for holidays, expands online offerings
(Reuters) - Walmart Stores Inc has significantly increased the selection of toys in its stores and online for the holiday season, a company executive said on Thursday, and is expanding its toy aisles in certain markets, all to lure shoppers after rival seller Toys R Us went out of business earlier this summer.
Gold dips on stronger dollar, palladium hits 10-week peak
NEW YORK/LONDON (Reuters) - Gold slid below key support of $1,200 an ounce on Thursday, undermined by a firmer dollar following strong U.S. economic data.
Lavasa Corporation to face insolvency
Construction firm HCC's real estate firm Lavasa Corporation will face insolvency proceedings with the NCLT today admitting plea of lenders of the debt-ridden realty firm. Lavasa Corporation is developing a hill city 'Lavasa' near Pune in Maharashtra. In a filing to the BSE, the HCC today said that the National Company Law Tribunal (NCLT) has admitted a plea filed by operational creditors who initiated Corporate lnsolvency Resolution Process (CIRP) against Lavasa Corporation under the lnsolvency and Bankruptcy Code. NCLT appointed Devendra Prasad as Interim Resolution Professional (IRP). Lavasa Corporation Ltd is promoted by Hindustan Construction Company with 68.7 per cent per cent stake. Avantha Group has 17.18 per cent per cent stake, while Venkateshwara Hatcheries has 7.81 per cent stake and Vithal Maniar 6.29 per cent stake. "Lavasa is a very special urban development project and an initiative well ahead of its time. While shareholders' interests have been sacrificed, we are ...
Oil rises on Iran sanctions, lower U.S. crude inventories
NEW YORK (Reuters) - Oil prices rose on Thursday, extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. crude inventories.