Business News
Over Fed minutes, a Trump-shaped shadow
The one thing Federal Reserve officials were in broad agreement about at their last meeting was this: to not tip their hands about what happens next.
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Business News
Nordstrom beats profit estimates as it clears inventory faster and sells more online
Upscale U.S. retailer Nordstrom Inc reported a better-than-expected quarterly profit on Wednesday as it said it had cut costs and cleared more inventory, sending its shares up 10% in extended trading.
Business News
U.S. farmers, lawmakers dial up pressure on Trump over biofuel policy
The agriculture and biofuel industries and their U.S. congressional allies ramped up pressure on the Trump administration on Wednesday over the relief he has given oil refiners from rules requiring use of biofuels.
Business News
Boeing awarded $999 million contract for A-10 wing replacements: Pentagon
Boeing has been awarded a $999 million defense contract to replace the wings on A-10 close air support aircraft, the Pentagon said on Wednesday.
Business News
Farmer’s threat prompts USDA to pull staff from crop tour
The U.S. Agriculture Department said on Wednesday it had pulled all staff from an annual crop tour after an employee was threatened, and three sources said the threat came over the phone from an angry farmer.
Business News
Stocks rise with focus on stimulus; U.S. yield curve briefly inverts
A global equities gauge rose on Wednesday for a third day in four as bets on more economic stimulus overcame, for now, worries over the rising prospect of a global recession.
Business News
Nordstrom misses quarterly revenue estimates
Department store chain Nordstrom Inc reported quarterly sales below analysts’ expectations on Wednesday, as the upscale retailer struggled to attract shoppers to both its full-price and off-price stores.
Business News
Fannie Mae names former FDIC chair Sheila Bair to board
U.S. mortgage financing agency Fannie Mae said on Wednesday it named former Federal Deposit Insurance Corp chair Sheila Bair to its board.
Business News
Fed was divided on rate cut, wanted to avoid appearing on path for more cuts
Federal Reserve policymakers were deeply divided over whether to cut interest rates last month but were united in wanting to signal they were not on a preset path to more cuts, a message not likely to sit well with U.S. President Donald Trump.
Trading Ideas
Is This Double-Digit Distribution Running on Empty?
Oil stocks got a lot of attention earlier this week after a drone seemed to attack a Saudi Arabian oil field. Crude prices briefly spiked on the news.
So this week, we’ll evaluate the dividend safety of Global Partners LP (NYSE: GLP).
Global Partners is a master limited partnership (MLP) with a 10.5% yield.
This MLP is one of the Northeast’s largest independent owners, suppliers and operators of gas stations and convenience stores.
The price of oil has been trending up since it bottomed in 2016. Global Partners’ cash available for distribution (CAD), a measure of cash flow for MLPs, has also been rising.
CAD …read more […]
Business News
Wall Street rises as Target, Lowe’s results point to consumer confidence
Wall Street’s main indexes rose on Wednesday as upbeat earnings from retailers pointed to strength in U.S. consumer demand, and held gains after minutes from last month’s Federal Reserve meeting showed policymakers had debated a more aggressive interest rate cut.
Business News
San Francisco crowdfunder Kiva sets up Sierra Leone credit database
Kiva, a San Francisco-based tech charity, is using blockchain to create an online ID database in Sierra Leone allowing people who struggle to get loans to prove their credit history.
Business News
E-cigarette firms probed over health concerns by U.S. House panel
Four dominant e-cigarette manufacturers face a probe into the health impacts of their products, as the U.S. House Energy and Commerce Committee asked on Wednesday about the firms’ research and marketing practices.
Business News
Nordstrom misses quarterly sales estimates
Department store chain Nordstrom Inc reported quarterly sales below analysts’ expectations on Wednesday, as the upscale retailer struggled to attract shoppers to both its full-price and off-price stores.
Business News
AMS clear to make takeover bid for Osram in potential bidding war
Austrian sensor maker AMS will go ahead with a takeover bid for Osram that values the German lighting group at 4.3 billion euros ($4.8 billion), it said on Wednesday, setting the stage for a potential bidding war.