Business

Business

Stocks soar to records on earnings enthusiasm

(c) 2018, Bloomberg. U.S. stocks rose to fresh highs as companies continued to indicate the tax overhaul will boost earnings this year. Treasuries fell with gold and the dollar climbed on speculation Congress will avert a government shutdown. The S&P 500 index posted its biggest gain since November,...


Business

BlackRock lets its hair down by offering unlimited time off

(c) 2018, Bloomberg. BlackRock Inc., taking a page from Silicon Valley where ping-pong tables and on-site gyms are common perks, is offering unlimited time off. The world’s largest asset manager began rolling out the perk earlier this month, confirmed Brian Beades, a BlackRock spokesman. The New...


Business

Markets Right Now: Dow has first close above 26,000 points

The latest on developments in financial markets (All times local): 4 p.m. Stocks are closing higher on Wall Street, sending the Dow Jones industrial average to its first close above 26,000 points. The Dow had traded above that level on Tuesday but wound up closing lower that day. The Dow’s surge on...


Business

Cellphone jamming system tested at Maryland prison

Prisons-Cell Phones

COLUMBIA, S.C. (AP) — Federal prisons officials on Wednesday tested a jamming technology inside the walls of a federal prison, a rare move that authorities said they hope will help combat the danger posed by inmates with cellphones. The test was conducted over several hours Wednesday morning at a...


Business

OPEC discipline arrests crude oil's fall from three-year high

(c) 2018, Bloomberg. Crude edged higher as OPEC showed increased determination to curb production. Futures rose as much as 0.7 percent in New York. Strict adherence by OPEC, Russia and other major producers to self-imposed supply limits has been counterbalanced by concern that hedge fund managers...


Business

Kuroda has good chance for BOJ reappointment, LDP official says

(c) 2018, Bloomberg. Haruhiko Kuroda has a “good chance” to be reappointed for a second term as Bank of Japan governor, according to a senior official of Prime Minister Shinzo Abe’s ruling party. “There shouldn’t be big changes in monetary policy, especially when financial markets have been very...


Business

Wells Fargo risk officer Loughlin to depart after bank scandals

(c) 2018, Bloomberg. Michael Loughlin, who has been Wells Fargo’s chief risk officer through its recent spate of scandals, is retiring. Loughlin, 62, who joined the San Francisco-based lender in 1986, will remain in the job for a few months until a successor is named, Wells Fargo said Wednesday in...


Business

Why Nestle sold its U.S. candy business - and bought a vitamin company

(c) 2018, The Washington Post. Analysts are calling it a $2.8-billion testament to Americans’ changing tastes in food: On Tuesday, Nestle - the maker of Butterfinger, Baby Ruth and Raisinets - agreed to sell its U.S. candy brands to Nutella-maker Ferrero. The deal is the latest in a torrent of food...


Business

Apple pledges to spend $350 billion, bring 20,000 jobs to US within next five years

(c) 2018, The Washington Post. Apple said Wednesday it will spend $350 billion in development and create 20,000 jobs to the United States in the next five years, following the recent corporate tax reforms and a greater push to increase manufacturing in the U.S. It will also build a new campus -...


Business

GE rout deepens as latest stumble reignites investor dread

(c) 2018, Bloomberg. General Electric’s slide deepened after a $6.2 billion charge and comments by Chief Executive Officer John Flannery renewed talk of a potential breakup. This week’s larger-than-expected writedown, tied to an old insurance portfolio, stoked shareholders’ concerns about the scope...


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