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U.S. retail group expects pickup in holiday sales growth
U.S. holiday sales will increase by 3.6 percent in 2016, more sharply than last year, as a stronger job market and robust household spending have improved consumer sentiment, according to an outlook from the leading retail industry group. The National Retail Federation forecast sales for the last two months of the year at $655.8 billion, excluding for autos, gasoline and dining out. The NRF's... [Read more]
China factory activity expands again in September: official PMI
Activity in China's manufacturing sector expanded again in September, an official survey showed on Saturday, which may indicate that recent positive momentum can be sustained. After a significant pick-up in March, China's official PMI slipped, falling below 50 in July before showing expansion in August. Economists say the pattern over the past few months suggested sustained More here: China... [Read more]
A Deutsche Bank settlement overshadows U.S. equities
Deutsche Bank will likely cast a pall over equity markets next week as the largest German lender navigates a possible multi-billion dollar settlement with the U.S. Department of Justice over the sale of mortgage-backed bonds. Deutsche shares traded in the United States hit a record low on Thursday, falling as much as 24 percent since the DOJ asked… Original post: A Deutsche Bank settlement... [Read more]
Relief arrives for U.S. shale firms as OPEC folds in price battle
By Liz Hampton and Terry Wade HOUSTON (Reuters) – It was a moment U.S. shale oil producers have been waiting on for more than two years: OPEC nations finally agreed to cut production on Wednesday in a move that lifted low prices ravaging their budgets. The agreement effectively establishes a … See the rest here: Relief arrives for U.S. shale firms as OPEC folds in price battle Read More →
South Korea court says it has not yet decided whether sale of Hanjin Shipping is needed
The South Korean court overseeing Hanjin Shipping's receivership process said on Wednesday that a sale of the world's seventh-largest container carrier, which collapsed late last month, is one of many options it is considering if the court concludes the company is to be rehabilitated. Judge Choi Ung-young, who serves as a court spokesman for media inquiries on the … The rest is here: South... [Read more]
Zuckerberg initiative poaches AstraZeneca board member
The $3 billion health initiative set up by Facebook co-founder Mark Zuckerberg and his wife Priscilla Chan has hired one of AstraZeneca's non-executive directors to head up its science drive. The British drugmaker said on Wednesday that Cornelia Bargmann would step down from its board next month to take up a new role as president of Chan Zuckerberg Science, part of the … Here is the original: Zuckerberg... [Read more]
South Korea to widen Takata air bag recall by 110,000 vehicles
South Korea said on Wednesday that 13 automakers will recall some 110,000 vehicles equipped with Takata Corp's defective air bags, the latest development in a long-running safety crisis involving the Japanese company. The United States in May announced a new Here is the original: South Korea to widen Takata air bag recall by 110,000 vehicles Read More →
Disney, Microsoft among possible Twitter suitors: reports
(Reuters) – Walt Disney Co and Microsoft Corp join a list of potential suitors for Twitter Inc, according to media reports on Monday. Twitter shares were up 2.23 percent at $23.36 in after-market trading. The microblogging service has reportedly started talks with a number of technology companies to sell itself, including Google parent Alphabet Inc and may receive a formal bid soon. View original... [Read more]
Oil slumps 4 percent as no output deal expected for OPEC
Oil prices tumbled 4 percent on Friday on signs Saudi Arabia and arch rival Iran were making little progress in achieving preliminary agreement ahead of talks by major crude exporters next week aimed at freezing production. U.S. West Texas Intermediate (WTI) crude futures fell $1.84, or 4 percent, to settle at $44.48. Crude futures slumped after sources said Saudi Arabia did not expect a View original... [Read more]
Yahoo set to confirm massive data breach: Recode
(Reuters) – Yahoo Inc will confirm this week a massive data breach of its service, technology news website Recode reported on Thursday, citing several sources close to the situation. Excerpt from: Yahoo set to confirm massive data breach: Recode Read More →