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Yahoo to look at strategic alternatives, cut jobs as it pursues spin-off
Yahoo Inc said on Tuesday it would consider “strategic alternatives” for its core Internet business and cut about 15 percent of its workforce, even as it continues with its plan to revamp the business and spin it off. The announcement is the strongest sign yet that the board and Chief Executive Marissa Mayer may be willing to… Read the rest here: Yahoo to look at strategic alternatives,... [Read more]
Oil lifts stocks off lows, yen and low-risk debt in favor
LONDON (Reuters) – Glimmers of recovery in oil prices on Wednesday lifted European stock markets off their lows and dimmed the allure of the Japanese yen, gold and ultra-low-risk government debt. Here is the original post: Oil lifts stocks off lows, yen and low-risk debt in favor Read More →
Alphabet profit sends shares up; overtakes Apple in value
(Reuters) – Alphabet Inc reported better-than-expected quarterly profit on Monday, sending shares of Google's parent soaring in after-hours trading and making it the most valuable U.S. company ahead of rival Apple Inc. View original here: Alphabet profit sends shares up; overtakes Apple in value Read More →
Berkshire resumes buying Phillips 66 stock
(Reuters) – Berkshire Hathaway Inc , the conglomerate run by Warren Buffett, has resumed its purchases of Phillips 66 stock, and spent roughly $832 million in January to boost its stake even as the oil refiner's profit margins narrowed. According to a regulatory filing on Friday night, Berkshire Read more: Berkshire resumes buying Phillips 66 stock Read More →
Fed is clearly on a path of returning rates to normal: Williams
The Federal Reserve is clearly on a path of returning interest rates to a normal level of 3 percent to 3.5 percent over the next few years, a top Federal Reserve official said on Friday. Raising rates in December was the right thing to do, given the improvement in the labor market, San Francisco Federal Reserve Bank President View post: Fed is clearly on a path of returning rates to normal: Williams Read More →
Nissan recalling 930,000 cars for hood latch problem
Nissan Motor Co said Friday it will recall nearly 930,000 Nissan cars worldwide for potentially faulty hood latches, marking the third time since 2014 the automaker has recalled vehicles to address the problem. The Japanese automaker said it is recalling the 2013-2015 Nissan Altima, because its secondary hood latch may bind on account of improperly applied rust coating and remain in the unlatched... [Read more]
U.S. economy hits soft patch in fourth quarter as inventories, trade weigh
By Lucia Mutikani WASHINGTON (Reuters) – U.S. economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports. Gross domestic product increased at a 0.7 percent annual rate, the Commerce Department said on Friday in a report that showed a further cutback in investment by energy firms... [Read more]
Oil retreats after rising on hopes of Russia, OPEC cooperation
Crude oil futures fell around 1 percent in Asian trading on Thursday, eroding gains of nearly 3 percent made in the previous session after Russia held out the possibility of cooperating with OPEC to control global oversupply. Falls were curbed by a weaker dollar following the Federal Reserve's decision to keep its overnight interest rate unchanged and the release of a statement suggesting concern… Original... [Read more]
Takata prepares CEO exit over air bag safety scandal: sources
Takata Corp is preparing the ground for the exit of its chief executive, two people close to the Japanese air bag maker said, as pressure builds on a company reeling from the auto industry's biggest recall. Takata has been under fire for almost two years over defective air bags that can explode with excessive force and shoot shrapnel inside the car – a problem that has ballooned… See... [Read more]
Hedge funds betting against China eye ‘Soros moment’
By Patrick Graham LONDON (Reuters) – A handful of mainly U.S.-based macro hedge funds have led bets against China's yuan since late last year and the coming weeks should tell how right they are in predicting a devaluation… See original here: Hedge funds betting against China eye ‘Soros moment’ Read More →