Markets & Economy
True price of an Uber ride in question as investors assess firm's value
Wed, 23 Aug 2017 16:51:58 GMT
SAN FRANCISCO (Reuters) - What is the true cost of an Uber ride£
American Express to pay $96 million to consumers over discriminatory card terms
Wed, 23 Aug 2017 16:48:38 GMT
WASHINGTON (Reuters) - American Express will pay $96 million to consumers in Puerto Rico and other U.S. territories over discriminatory terms in its credit card agreements, according to the U.S. Consumer Financial Protection Bureau.
Mexico, Canada dismiss Trump threats to scrap NAFTA trade pact
Wed, 23 Aug 2017 16:07:17 GMT
MEXICO CITY/OTTAWA (Reuters) - Mexico and Canada on Wednesday dismissed U.S. President Donald Trump's threat to scrap NAFTA, describing it as a negotiating tactic designed to gain an advantage during talks to update one of the world's biggest trading blocs.
Stocks Climb Off Worst Levels But Remain Modestly Lower - U.S. Commentary
Wed, 23 Aug 2017 16:04:04 GMT
After an early move to the downside, stocks have regained some ground over the course of the trading session on Wednesday. The major averages have climbed well off their worst levels of the day but remain in the red.
Toshiba prioritizes talks with Western Digital on chip business sale: sources
Wed, 23 Aug 2017 15:56:21 GMT
TOKYO (Reuters) - Japan's Toshiba Corp is prioritizing negotiations with Western Digital to sell its memory chip business after talks stalled with a previously preferred bidder, sources familiar with the matter said on Wednesday.
Lowe's misses earnings estimates, forecasts slower margins growth
Wed, 23 Aug 2017 15:41:07 GMT
(Reuters) - Lowe's Companies Inc reported lower-than-expected quarterly earnings on Wednesday and warned of slower growth in profit margins as it spends more on marketing and staffing to take advantage of a robust home improvement market.
Whole Foods shareholders approve sale to Amazon
Wed, 23 Aug 2017 15:40:10 GMT
LOS ANGELES (Reuters) - Whole Foods Market Inc on Wednesday said shareholders in the natural and organic grocery chain cleared the way for its proposed $13.7 billion sale to Amazon.com Inc.
Apple Planning Self-Driving Shuttle For Employees
Wed, 23 Aug 2017 15:36:31 GMT
Apple Inc. is working on a self-driving shuttle service to ferry employees within its sprawling campus, the New York Times reported. The move comes after the tech giant decided to abandon the idea of building an entire self-driving car by itself.
Wall Street drops on Trump's threats of government shutdown
Wed, 23 Aug 2017 15:36:13 GMT
(Reuters) - U.S. stocks were lower late on Wednesday morning after President Donald Trump's warning of a government shutdown to secure funds to build the Mexico border wall added to nerves as the deadline to the raise the U.S. debt ceiling looms.
U.S. Active-duty Military Presence Overseas Shrinks: Study
Wed, 23 Aug 2017 15:29:38 GMT
The number of U.S. military personnel on duty abroad has fallen below 200,000 for the first time in six decades, a study shows.
Trump On The Warpath In Raucous Phoenix Rally
Wed, 23 Aug 2017 15:25:21 GMT
After a tumultuous week described by some as among the worst of his presidency, President Donald Trump returned to familiar territory for a rally in Phoenix, Arizona, on Tuesday. Trump attacked several of his favorite targets during his remarks, including the media and Democratic lawmakers, and even lashed out at some members his own party.
Walmart And Google Partner On Voice-Based Shopping
Wed, 23 Aug 2017 15:06:10 GMT
Wal-Mart Stores Inc. and Google are joining hands to allow shoppers to order products by voice, taking on the mutual threat the two companies face from Amazon.com Inc. and its voice-enabled network Alexa. Wal-Mart said it will soon offer its customers the ability to order hundreds of thousands of its products for voice shopping through Google Assistant.
U.S. new home sales fall to seven-month low
Wed, 23 Aug 2017 15:04:57 GMT
WASHINGTON (Reuters) - New U.S. single-family home sales unexpectedly fell in July, dropping to their lowest in seven months, which could raise concerns of a slowdown in the housing market recovery.
Trump Comments Contribute To Pullback On Wall Street - U.S. Commentary
Wed, 23 Aug 2017 14:45:35 GMT
Stocks have moved mostly lower in morning trading on Wednesday, partly offsetting the rally seen in the previous session. Selling pressure has remained somewhat subdued, however, limiting the downside for the major averages.
Iceland CB Holds Rate Unchanged, Slashes Growth Forecast
Wed, 23 Aug 2017 14:41:05 GMT
Iceland's central bank left its key interest rate unchanged on Wednesday after keeping trimming it in June, and cut its economic growth forecasts.
What's Keeping People Out Of Restaurants£
Wed, 23 Aug 2017 14:38:17 GMT
Restaurants have been witnessing a fall in traffic. Higher menu price and change in attitude of the new generations are attributed to the decline in footfall.
Millennial Women Take Step Back In Wage Gap
Wed, 23 Aug 2017 14:37:54 GMT
Women who are between 25 and 34 years old are losing the race in the U.S. when it comes to pay equality with men, data from the Bureau of Labor Statistics showed. This is despite the rapid increase in participation of women in the labor force.
U.S. New Home Sales Unexpectedly Plunge 9.4% In July
Wed, 23 Aug 2017 14:25:56 GMT
New home sales in the U.S. unexpectedly saw a substantial decrease in the month of July, according to a report released by the Commerce Department on Wednesday. The report said new home sales plunged by 9.4 percent to an annual rate of 571,000 in July from the revised June rate of 630,000.
U.S. New Home Sales Unexpectedly Plunge 9.4% In July
Wed, 23 Aug 2017 14:25:56 GMT
New home sales in the U.S. unexpectedly saw a substantial decrease in the month of July, according to a report released by the Commerce Department on Wednesday. The report said new home sales plunged by 9.4 percent to an annual rate of 571,000 in July from the revised June rate of 630,000.
Huge Gender Pay Gap Exposed In Forbes Hollywood Rich List
Wed, 23 Aug 2017 14:17:27 GMT
The huge gender pay gap between Hollywood's highest-paid actors and actresses has been laid bare in new estimates of their pay packets by Forbes.
Eurozone Business Growth Remains Strong On Manufacturing Boost
Wed, 23 Aug 2017 13:19:09 GMT
Eurozone private sector retained its solid growth momentum in August, led by manufacturing that expanded at the fastest pace in over six years on the back of strong demand for exports. The flash Composite Output Index of the Purchasing Managers' survey climbed to a two-month high of 55.8 from July's 55.7, study results from IHS Markit showed Wednesday. Economists had forecast a 55.4 reading.
Eurozone Business Growth Remains Strong On Manufacturing Boost
Wed, 23 Aug 2017 13:19:09 GMT
Eurozone private sector retained its solid growth momentum in August, led by manufacturing that expanded at the fastest pace in over six years on the back of strong demand for exports. The flash Composite Output Index of the Purchasing Managers' survey climbed to a two-month high of 55.8 from July's 55.7, study results from IHS Markit showed Wednesday. Economists had forecast a 55.4 reading.
Cheap oil undercuts U.S. rail, bus service: study
Wed, 23 Aug 2017 13:08:58 GMT
DETROIT (Reuters) - Cheap gasoline is squeezing U.S. bus companies and the Amtrak passenger rail system that bet more consumers would embrace alternatives to driving for trips shorter than 400 miles, a study by researchers at DePaul University concluded.
Trump's Approval Rating Hits New Low After Charlottesville: Poll
Wed, 23 Aug 2017 12:50:01 GMT
President Donald Trump's approval rating has hit a new low following his response to the white nationalist rally in Charlottesville earlier this month, a new poll finds.
Stocks May Give Back Ground After Yesterday's Rally - U.S. Commentary
Wed, 23 Aug 2017 12:48:33 GMT
After ending the previous session substantially higher, stocks may give back some ground in early trading on Wednesday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 69 points.
ECB's Draghi Urges Central Banks To Continue Preparing For New Challenges
Wed, 23 Aug 2017 12:14:24 GMT
Monetary and regulatory policy actions and steps in supervision undertaken over the last decade have made the world more resilient, however, central banks must continue preparing for new challenges, European Central Bank President Mario Draghi said Wednesday.
ECB's Draghi Urges Central Banks To Continue Preparing For New Challenges
Wed, 23 Aug 2017 12:14:24 GMT
Monetary and regulatory policy actions and steps in supervision undertaken over the last decade have made the world more resilient, however, central banks must continue preparing for new challenges, European Central Bank President Mario Draghi said Wednesday.
Former Lloyds CEO Eric Daniels Sues Bank For Unpaid Bonuses
Wed, 23 Aug 2017 11:59:48 GMT
Eric Daniels, the former chief executive of Lloyds Banking Group, is suing the bank for hundreds of thousands of pounds in disputed bonuses, The Times reported. He was at the top job when the lender was bailed out with 20 billion pounds of taxpayer money during the 2008 financial crisis.
Denmark's Consumer Confidence Weakens
Wed, 23 Aug 2017 11:23:38 GMT
Denmark's consumer confidence weakened in August after improving in the previous two months, survey data from Statistics Denmark showed Wednesday.
Wall Street To See Red In The Opening
Wed, 23 Aug 2017 11:22:32 GMT
The market continues to be sensitive to geo-political issues as well as President Trump's recent comments. The initial trading at the U.S. Futures Index suggest that Wall Street is poised to open lower. The New Home sales data to be published on Wednesday is expected to be unchanged from the prior period. Asian shares closed mixed, while European shares are trading mostly lower.
Massive California verdict expands J&J's talc battlefield
Wed, 23 Aug 2017 11:10:53 GMT
NEW YORK (Reuters) - A massive California verdict in a lawsuit alleging Johnson & Johnson's talc-based products cause cancer has opened a new front in the litigation, upending the company's hopes that the cases were only gaining traction in Missouri, legal experts said.
Turkey Consumer Confidence Falls Slightly In August
Wed, 23 Aug 2017 11:04:40 GMT
Turkey's consumer confidence weakened marginally in August, after improving in the previous month, survey data from the Turkish Statistical Institute showed Wednesday.
Taiwan Industrial Production Climbs Less Than Forecast
Wed, 23 Aug 2017 10:39:34 GMT
Taiwan's industrial production increased for the third straight month in July, but at a slower-than-expected pace, preliminary figures from the Ministry of Economic Affairs showed Wednesday.
Lowe's Q2 Profit Misses Estimates; Comps. Up 4.5%
Wed, 23 Aug 2017 10:34:36 GMT
Lowe's Companies, Inc. (LOW) reported second-quarter net earnings of $1.4 billion or $1.68 per share compared to $1.2 billion or $1.31 per share, a year ago. The second quarter results included a $96 million gain from the sale of the company's interest in its Australian joint venture. Excluding the gain, adjusted earnings per share increased 14.6 percent to $1.57 from $1.37, prior year. On average, 27 analysts polled by Thomson Reuters expected the company to report profit per share of $1.61 for the quarter. Analysts' estimates typically exclude special items.
European Shares Subdued After Tuesday's Recovery
Wed, 23 Aug 2017 10:03:40 GMT
European stocks were little changed in lackluster trade on Wednesday after ECB President Mario Draghi defended unconventional monetary policy, saying QE and forward guidance have been a success.
South Africa Inflation At 22-Month Low
Wed, 23 Aug 2017 09:57:12 GMT
South Africa's consumer price inflation eased more-than-expected in July to the weakest level in nearly two years, figures from Statistics South Africa showed Wednesday.
Wal-Mart Applies For Patent For Floating Blimp Warehouse
Wed, 23 Aug 2017 08:57:26 GMT
Wal-Mart has applied for a U.S. patent for a blimp-style floating warehouse that could make deliveries through drones, Bloomberg reported. The world's largest retailer expects the proposed floating warehouse could help it lower the costs of fulfilling online orders, especially the expensive last-mile deliveries..
Eurozone Private Sector Growth Robust In August
Wed, 23 Aug 2017 08:32:53 GMT
Eurozone private sector activity maintained strong growth momentum in August, underpinned by strong expansion in the manufacturing output, flash survey data from IHS Markit showed Wednesday.
German Private Sector Growth Improves In August
Wed, 23 Aug 2017 08:08:23 GMT
Germany's private sector activity expanded at a faster pace in August, as output growth strengthened in both the manufacturing and service sectors, flash survey data from IHS Markit showed Wednesday.
Asian Shares Mixed After Trump Nafta Remark
Wed, 23 Aug 2017 08:01:25 GMT
Asian stocks ended mixed on Wednesday as U.S. President Donald Trump's comments that he may end the North American Free-Trade Agreement raised concerns over its impact on global trade.
WPP H1 Profit Climbs, Cuts FY17 Sales Growth View; Stock Down
Wed, 23 Aug 2017 07:55:51 GMT
Shares of WPP Group Plc. were losing around 11 percent in the early morning trading in London after the advertising giant reported Wednesday that it has revised down fiscal 2017 forecast, despite reporting significant growth in first-half profit and revenues. The company attributed the revision to the pressure on client spending.
France Private Sector Growth Stagnates In August
Wed, 23 Aug 2017 07:42:29 GMT
French private sector activity expanded at a marked pace in August, though the rate of growth stagnated, flash survey data from IHS Markit showed Wednesday.
Norway Jobless Rate Falls As Expected In June
Wed, 23 Aug 2017 06:32:05 GMT
Norway's unemployment rate decreased as expected in June, figures from Statistics Norway showed Wednesday.
RARE Disappoints, NSPR Put On Notice, PMD Launches Synthetic Cannabinoids Test
Wed, 23 Aug 2017 06:01:56 GMT
Today's Daily Dose brings you news about InspireMD's listing deficiency; MabVax's exploration of strategic alternatives; Novogen's progress in developing GDC-008 in glioblastoma; Psychemedics' launch of Synthetic Cannabinoids test and disappointing results from Ultragenyx's GNE Myopathy trial.
European Shares Seen Opening Mixed
Wed, 23 Aug 2017 05:51:13 GMT
European stocks may open on a mixed note on Wednesday after strong gains in the previous session.
Singapore Inflation Rises Less Than Expected In July
Wed, 23 Aug 2017 05:41:37 GMT
Singapore's consumer price inflation accelerated at a slower-than-expected pace in July, though marginally, figures from the Ministry of Trade and Industry showed Wednesday.
Malaysia Inflation Eases More Than Forecast
Wed, 23 Aug 2017 04:56:19 GMT
Malaysia's consumer price inflation eased at a faster-than-expected pace in July, figures from the Department of Statistics showed Wednesday.
Asian Markets Mostly Higher After Wall Street Rally
Wed, 23 Aug 2017 03:51:07 GMT
Asian stock markets are mostly higher on Wednesday as risk appetite improved following the overnight rally on Wall Street on optimism that the Trump administration is making progress on its tax reform plans.
Gainers & Losers Of Aug.22: OVID, SNNA, BPMC, ABIO, TOCA...
Wed, 23 Aug 2017 02:41:57 GMT
The following are some of the biotech stocks that made their way onto the Day's Gainers & Losers' list of August 22, 2017.
Japan Manufacturing PMI Climbs To 52.8 In August - Nikkei
Wed, 23 Aug 2017 00:45:50 GMT
The manufacturing sector in Japan continued to expand in August, and at a faster pace, the latest survey from Nikkei revealed on Wednesday with a Manufacturing PMI score of 52.8.
BRAZIL: Ibovespa Closes At Highest Level In More Than 6 Years W/ Eletrobras
Wed, 23 Aug 2017 00:41:47 GMT
Ibovespa, the benchmark stock index in Brazil, rose 2.01% Tuesday, closing at 70,011.25 points, the highest closing level since April 5, 2011 (69,837 points). The Brazilian market was boosted by the optimism brought by the surge in Eletrobras shares.
ARGENTINA: Merval Falls On Argentinean ADRs
Wed, 23 Aug 2017 00:13:17 GMT
Merval, the benchmark index of the Buenos Aires Stock Exchange, resumed its operations after a holiday break tracking Monday's fall in American Depositary Receipt (ADRs) of Argentinean companies traded in Wall Street. Merval fell 0.29% Tuesday, closing at 22,900.18 points.
COLOMBIA: Colcap Rises 0.38% Boosted By Financial Companies
Wed, 23 Aug 2017 00:00:13 GMT
Colcap, the main index of the Colombian Stock Exchange, rose 0.38% Tuesday, closing at 1,482.77 points, boosted by the good performance of the financial shares.
CHILE: Bachelet Signs Bill To Renew Immigration Law
Tue, 22 Aug 2017 23:34:51 GMT
Chile's President Michelle Bachelet signed a new immigration legislation that makes more flexible for immigrants to enter the South American country. The legislation establishes the creation of a National Registry of Foreigners that will be administered by the Undersecretariat of the Interior.
ARGENTINA: Central Bank Keeps Main Interest Rate Unchanged At 26.25%
Tue, 22 Aug 2017 23:14:54 GMT
The central bank of Argentina kept its main interest rate unchanged at 26.25%, given that indicators from private and state sources monitored by the monetary authority suggest that the disinflation process moves ahead, with prices in August possibly lower than in July. However, core inflation remains above the levels sought by the monetary authority.
ARGENTINA: Primary Fiscal Deficit Falls Almost 10% In July
Tue, 22 Aug 2017 22:47:09 GMT
Argentina's Ministry of Finance of Argentina reported a 22,090 million pesos (US$ 1,271 million) primary deficit in the National Non-Financial Public Sector (SPNF) in July 2017, a figure almost 10% lower than the deficit posted in the same month of last year.
Japan Manufacturing PMI On Tap For Wednesday
Tue, 22 Aug 2017 22:00:49 GMT
Japan will on Wednesday see preliminary August results for the manufacturing PMI from Nikkei, setting the pace for a modest day in Asia-Pacific economic news. The PMI score in July came in at 52.1.
COLOMBIA: Former Venezuelan Prosecutor Leaves Colombia For Brazil
Tue, 22 Aug 2017 21:46:07 GMT
The former Venezuela prosecutor Luisa Ortega has left Colombia and is on her way to Brazil.
ELETROBRAS: Privatization Proposition Will Be Presented To Board
Tue, 22 Aug 2017 21:34:02 GMT
The Brazilian Ministry of Mines and Energy proposition to privatize the power generator and distributor Eletrobras will be sent to the company's board of directors for analysis.
BRAZIL: Complaint Targets Senator Romero Juc  Under Operation Zelotes
Tue, 22 Aug 2017 21:19:37 GMT
Brazil's Attorney General's Office filed a complaint against the Senator Romero Juc  (PMDB-RR), government speaker in the upper house of the Parliament, as part of Operation Zelotes investigations.
BRAZIL: Regulatory Agency Challenges Time Warner Acquisition By AT&T
Tue, 22 Aug 2017 20:50:45 GMT
Brazil's regulatory agency's superintendence-general referred to a court analysis, with a challenge recommendation, the transaction involving the acquisition of Time Warner by AT&T, owner of Sky in Brazil.
ARGENTINA: 12-month Inflation Expectations Remain At 20% In August
Tue, 22 Aug 2017 20:35:42 GMT
The annual inflation expected by the Argentineans for the next 12 months remains at 20% in August, compared to the July survey, according to the Inflation Expectation Survey conducted by the University Torcuato Di Tella's School Of Business.
Stocks Show Substantial Move To The Upside - U.S. Commentary
Tue, 22 Aug 2017 20:16:20 GMT
Following the lackluster performance seen in the previous session, stocks moved sharply higher over the course of the trading day on Tuesday. The tech-heavy Nasdaq rebounded strongly after ending the previous session at its lowest closing level in well over a month.
PERU: GDP Grows 2.4% In 2Q17 On Annual Basis
Tue, 22 Aug 2017 20:15:41 GMT
Peru's Gross Domestic Product (GDP) grew 2.4% in the second quarter of 2017 when compared to the same quarter of 2016.
BRAZIL: Power Plants Auction Is Scheduled, Meirelles Says
Tue, 22 Aug 2017 19:58:18 GMT
The Brazilian government will evaluate the proposals of Companhia Energ‚tica de Minas Gerais (Cemig) and other operators regarding the bidding of the Sao Simao, Jaguara, Miranda and Volta Grande hydroelectric plants, said the finance minister, Henrique Meirelles.
ARGENTINA: Country And Spain Sign Agreement For Public-private Investment
Tue, 22 Aug 2017 19:35:34 GMT
Argentina and Spain signed an agreement for public-private investments in infrastructure, urban development, housing, and transportation projects. The agreement was signed as part of the official visit of the Argentine Interior Minister Rogelio Frigerio to Santander, in Spain.
Senate Health Committee To Hold Bipartisan Hearings On Healthcare
Tue, 22 Aug 2017 19:04:28 GMT
Leaders of the Senate Health Committee have announced scheduled hearings on healthcare when lawmakers return to Washington after Labor Day.
Trump To Hold Campaign Rally In Phoenix
Tue, 22 Aug 2017 18:09:03 GMT
President Donald Trump is headed to Phoenix, Arizona, on Tuesday for a campaign rally that has some Republicans on edge. Trump's remarks, scheduled for 9 pm ET at the Phoenix Convention Center, are likely to be unscripted, raising the possibility the president could veer off message.
McDonald's Shutters 170 India Locations
Tue, 22 Aug 2017 17:04:55 GMT
McDonald's India will close nearly 170 locations across the country's north and east regions after it terminated franchise agreement with partner Connaught Plaza Restaurants Limited.
Treasury Imposes Sanctions On Chinese, Russian Entities Over North Korea
Tue, 22 Aug 2017 16:12:46 GMT
In an effort to increase pressure on North Korea, the Treasury Department on Tuesday imposed new sanctions on several Chinese and Russian entities and individuals accused of supporting the communist country.
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