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Exxon Says N.Y. Used Fraud Claims to Score Political Points

November 18, 2019 admin Comments Off on Exxon Says N.Y. Used Fraud Claims to Score Political Points

(Bloomberg) — You’d expect most companies accused of a longstanding fraudulent scheme to be thrilled if the government dropped those claims against them. Not so for Exxon Mobil Corp. — at least not today.The energy giant unleashed a torrent of criticism against New York Attorney General Letitia James in court filings Monday, more than a week after the state sought to drop two fraud claims on the last day of a civil trial that has yet to be decided by the judge. Exxon says the government couldn’t prove the allegations and only made them “to score headlines and political points.”New …read more […]

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Lyft and Peloton Rally, Defying the Mantle of 2019’s Least-Loved Debuts

November 18, 2019 admin Comments Off on Lyft and Peloton Rally, Defying the Mantle of 2019’s Least-Loved Debuts

(Bloomberg) — Some of the least-loved stocks to make their debuts this year are rallying on Monday as the S&P 500 Index hovers in record territory.Fitness company Peloton Interactive Inc. gained 11% to a record high, closing above its IPO price of $29 for the first time. At its low last month, the stock was down 27% from its September IPO price, after falling amid concerns over its path to profitability. Lyft Inc. rose 4.2%, to its highest in almost two months, after picking up corporate clients in a deal with rival Juno, which is closing its New York-based operations. …read more […]

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With stores burned and looted, Walmart seeks police protection in riot-hit Chile

November 18, 2019 admin Comments Off on With stores burned and looted, Walmart seeks police protection in riot-hit Chile

Walmart has sought court orders for police protection in protest-wracked Chile after more than 120 of its supermarkets were looted or burned. The Chilean subsidiary of the U.S.-headquartered retailer lodged orders with courts in six Chilean cities, saying the attacks on its stores had put its staff’s safety and jobs at risk, “gravely” affected its ability to operate in the country and caused it “enormous economic damage”. “The state of Chile has failed to fulfill its duty to guarantee public order and internal public security,” it said in court documents submitted on Wednesday and made public on Monday. …read more […]

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EMERGING MARKETS-Trade uncertainty casts a pall on Latam currencies; Brazil's real hits life low

November 18, 2019 admin Comments Off on EMERGING MARKETS-Trade uncertainty casts a pall on Latam currencies; Brazil's real hits life low

MSCI’s index for Latin American currencies slipped 0.3%, resuming its downward trend as it fell for the tenth time in the last eleven sessions. Sentiment took a hit earlier in the day after CNBC reported that the mood in Beijing was “pessimistic” because of U.S. President Donald Trump’s reluctance to roll back tariffs. …read more […]

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UPDATE 1-Brazil's real posts lowest ever close of 4.2061 per dollar

November 18, 2019 admin Comments Off on UPDATE 1-Brazil's real posts lowest ever close of 4.2061 per dollar

Brazil’s real posted its lowest ever close of 4.2061 per dollar on Monday, as heavy selling met no resistance from the central bank at a key market level where it had intervened earlier this year. Brazilian interest rates are expected to be cut to a new low of 4.25% by the end of next year, according to the central bank’s latest weekly ‘FOCUS’ survey of economists on Monday, which also showed inflation heading further below target. …read more […]