Business News
‘Oracle of oil’ T. Boone Pickens dies at 91
T. Boone Pickens, a celebrated corporate raider and energy industry magnate who made an empire out of an initial $2,500 investment, died on Wednesday at age 91, his spokesman said.
Year: 2019
Business News
Trade hopes lift stocks, bond yields up ahead of ECB
A gauge of global equity markets climbed on Wednesday, amid small signs of progress in the trade war between the United States and China, while bond yields rose as investors remained unsure what stimulus measures the European Central Bank will provide at its Thursday meeting.
Business News
Italy’s 5-Star Movement says to monitor closely Hong Kong’s bid for LSE
Italy’s ruling 5-Star Movement will monitor closely a bid by Hong Kong Exchange for the London Stock Exchange to ensure it does not hurt Italian interests, it said on Wednesday.
Business News
Wall Street gains on Apple boost, trade optimism
Wall Street rose on Wednesday, boosted by Apple Inc after the launch of its latest iPhones, while investor nerves were also soothed by China’s move to ease trade tensions with the United States.
Business News
Foreign trophy hunters scent bargains in Britain as pound weakens
From pubs to theme parks, sterling’s near record lows against other major currencies has encouraged overseas buyers to snap up “UK Plc”, with more bargain hunters expected.
Business News
Italy should consider special powers to protect bourse in HK bid on LSE: League
The Italian government should consider using its special powers to safeguard the country’s stock exchange in case a bid from Hong Kong Exchange on the London Stock Exchange goes through, a League party’s lawmaker said.
Business News
Apple may steal Netflix streaming crown, but only for a year
Apple Inc’s move to offer a free TV+ subscription for a year with every new device may briefly crown the iPhone maker as the biggest streaming service by user numbers, leapfrogging Netflix Inc.
Business News
GM recalls 3.8 million vehicles in North America due to braking issue
General Motors Co said Wednesday it was recalling 3.46 million U.S. pickup trucks and SUVs to address a vacuum pump issue that could make braking more difficult and that has been linked to 113 accidents and 13 injuries.
Business News
Exclusive: Purdue Pharma nears partial opioid settlement, bankruptcy filing – sources
OxyContin maker Purdue Pharma LP is nearing a partial agreement to resolve widespread litigation over its alleged role in fueling the U.S. opioid crisis and plans to tussle with states opposing its settlement offer in bankruptcy proceedings starting as soon as next week, people familiar with the matter said.
Business News
Wall Street rises on Apple, trade optimism
U.S. stocks rose on Wednesday, lifted by Apple a day after the launch of its latest iPhones and as China moved to ease trade tensions with the United States by exempting certain goods from additional retaliatory tariffs.
Trading Ideas
Why Is Wind Power Good?
Utilities across the country are increasingly turning to wind when installing new power sources. It’s not only cheap, it’s green too.
In 2018, utilities chose wind for new generating capacity 21% of the time. And over the last 10 years, wind power made up 28% of all new U.S. generating capacity.
With 96,433 megawatts (MW) installed, the U.S. is now the second-largest market for wind power. Why is wind becoming so popular here?
With utilities, it’s all about the cost of power. And the price for wind power has been dropping like a stone in a vacuum.
In fact, wind power is now cheaper …read more […]
Business News
Trump reverses course, seeks negative rates from Fed ‘boneheads’
U.S. President Donald Trump on Wednesday called on the “boneheads” at the Federal Reserve to push interest rates down into negative territory, a move reluctantly used by other world central banks to battle weak economic growth that risks punishing savers and banks’ earnings in the process.
Business News
Analyst view: Negative rates? Not so fast, says Wall Street
U.S. President Donald Trump’s pining for negative rates was widely panned on Wall Street where strategists and traders said such a move would be unjustified and extreme, and not advisable based on the experience in other countries.
Business News
U.S. producer prices rise; Fed rate cut still expected
U.S. producer prices unexpectedly rose in August, but the overall trend in producer inflation remains tame, cementing financial market expectations that the Federal Reserve will cut interest rates again next week to support a slowing economy.
Business News
Stocks climb on trade hopes, bond yields rise ahead of ECB
A gauge of global equity markets climbed on Wednesday, encouraged by signs of a thaw in the trade war between the U.S. and China, while bond yields rose as investors remained uncertain about how aggressive the European Central Bank will be in providing stimulus at its Thursday meeting.