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Wall Street slides, dragged down by healthcare
Plunging healthcare stocks dragged Wall Street lower on Wednesday, offsetting a spate of upbeat corporate earnings and encouraging economic data from the United States and China.
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Business News
Flight from healthcare shares halts stock rally
World stock markets gave up early gains as a continued flight from healthcare shares dragged on Wall Street, overshadowing upbeat economic data from China.
Business News
Amazon to close domestic marketplace business in China: sources
Amazon.com Inc plans to close its domestic marketplace business in China by mid-July, people familiar with the matter told Reuters on Wednesday, focusing efforts on its more lucrative businesses selling overseas goods and cloud services in the world’s most populous country.
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Meet the Innovators: New ideas in organic farming technology, ride-sharing, cannabis – and ice cream! Wall Street Reporter Exclusive Interviews with CEO’s of: HYRE, MDCL, NGTF, GWPD
Wall Street Reporter Exclusive Interviews with CEO’s of: HYRE, MDCL, NGTF, GWPD April 17, 2019 – New York, NY – Wall Street Reporter, the leading name in financial news since 1843, has recently published […]
Business News
U.S. labor market remains tight, economy continues to grow: Fed Beige Book
Labor markets remained tight across the United States as businesses struggled to find skilled workers and wages grew modestly, the Federal Reserve said on Wednesday in its latest report on the economy.
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Fed’s Bullard says economic data should improve, yield curve steepen in coming months
Weak U.S. economic data that marred the start of the year should change for the better in coming months, and ease some of the concerns among investors about the health of the recovery, St. Louis Federal Reserve President James Bullard said on Wednesday.
Business News
India’s Jet Airways finds itself out of runway as funds dry up
Embattled Jet Airways halted all flight operations indefinitely on Wednesday after its lenders rejected its plea for emergency funds, potentially bringing the curtains down on what was once India’s largest private airline.
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United sees Boeing’s 737 MAX flying this summer, deliveries before year-end
United Airlines expects Boeing Co’s grounded 737 MAX jets to return to service this summer, with deliveries resuming before the end of the year, an executive said on Wednesday, reassuring investors concerned about a prolonged suspension.
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FCC chairman opposes China Mobile bid to provide U.S. services
Federal Communications Commission chairman Ajit Pai said on Wednesday he opposes China Mobile Ltd’s bid to provide U.S. telecommunications services and that the commission will vote on whether to deny the application in May.
Business News
U.S. trade deficit hits eight-month low on weak Chinese imports
The U.S. trade deficit fell to an eight-month low in February as imports from China plunged, temporarily providing a boost to President Donald Trump’s “America First” agenda and economic growth in the first quarter.
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EU states force clearing of Estonian, Danish regulators over Danske Bank
National banking supervisors who control the European Union banking watchdog effectively forced it to clear financial regulators in Estonia and Denmark, who were investigated in relation to suspected money laundering activities by Danske Bank, a member of the European parliament said on Wednesday.
Business News
United sees 737 MAX flying this summer, deliveries before year-end
United Airlines expects Boeing Co’s grounded 737 MAX jets to return to service this summer, with deliveries resuming before the end of the year, an executive said on Wednesday.
Business News
Ford forecasts $1 billion profit improvement from Michigan truck plant
Ford Motor Co’s shift in production at a Michigan plant to trucks from less profitable cars will lead to a more than $1 billion improvement in operating earnings, an official at the No. 2 U.S. automaker said on Wednesday.
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Oil pares gains as U.S. fuel stocks draw less than expected
Crude prices pared gains Wednesday, pulling off a 2019 high as U.S. government data showed inventories drew down less than an industry report had suggested on Tuesday.
Business News
Wall Street banks under pressure to make deeper cost cuts
Top U.S. banks must make deeper cost cuts to drive earnings growth, with revenue expected to remain under pressure for the foreseeable future, analysts said.