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Stocks soar despite US, China trade war escalation
Stocks jumping despite trade war talk heating up …read more […]
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Business News
Wall Street rebounds in the face of heated trade row
Wall Street bounced back on Tuesday, led by gains in consumer discretionary, technology and industrial stocks as investors shrugged off escalating trade rhetoric between the United States and China.
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Facebook Is JPMorgan’s Most Controversial Company in Portfolio
After a turbulent 2018, the world’s largest social media group is in transition as it pushes to feature Instagram’s Stories more prominently on its core platform and roll out stronger privacy tools, JPMorgan analyst Doug Anmuth told clients in a note. Facebook is down more than 26 percent from its recent high less than two months ago. JPMorgan said expenditures will curb what Facebook should earn next year, and the year after that. …read more […]
Business News
SeaWorld, ex-CEO settle SEC charges they hid ‘Blackfish’ impact
SeaWorld Entertainment Inc and former Chief Executive James Atchison will pay more than $5 million to settle U.S. Securities and Exchange Commission charges that they misled investors about the negative impact of the documentary “Blackfish” on the company.
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DoJ requests documents related to Musk statement on taking Tesla private
“We have not received a subpoena, a request for testimony, or any other formal process,” a Tesla spokesman said in an emailed response to Reuters questions about an investigation. The DoJ declined to comment. Federal prosecutors have opened a fraud investigation, Bloomberg reported https://bloom.bg/2D9F8mI. The report, citing two people familiar with the matter, said the department launched an investigation over Musk’s tweets in early August that he had secured funding for a buyout deal valued at $72 billion. …read more […]
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U.S. DoJ requests documents related to Musk statement on taking Tesla private
“We have not received a subpoena, a request for testimony, or any other formal process,” a Tesla spokesman said in an emailed response to Reuters questions about an investigation. The DoJ declined to comment. Federal prosecutors have opened a fraud investigation, Bloomberg reported https://bloom.bg/2D9F8mI. The report, citing two people familiar with the matter, said the department launched an investigation over Musk’s tweets in early August that he had secured funding for a buyout deal valued at $72 billion (54.8 billion pounds). …read more […]
Business News
DoJ requests documents related to Musk statement on taking Tesla private
Tesla Inc said on Tuesday it received a request for documents from the U.S. Department of Justice over Chief Executive Elon Musk’s public statements in August about taking the electric carmaker private.
Business News
Ferrari plans 15 new models, SUV to deliver earnings growth
Ferrari plans 15 new models, including hybrids, a utility vehicle and special editions in its drive to hit a softened but still exacting mid-term earnings target.
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Brazil diesel subsidy program threatens Petrobras, market -FCStone
Brazil could face a diesel shortage at the end of 2018 or state-controlled oil company Petroleo Brasileiro SA may be forced to eat losses on fuel sales thanks to a diesel subsidy program, analyst and broker INTL FCStone said on Tuesday. The program, unveiled in May to halt a truckers’ strike over rising diesel prices, set prices too low and has yet to pay out compensation to most diesel importers, FCStone said in a statement. “Private imports are paralyzed, and Petrobras is practically the only agent bringing the product to …read more […]
Business News
Ferrari plans 15 new models, SUV to drive earnings growth
Ferrari plans to launch 15 new models, including hybrid cars, a utility vehicle and more special editions as part of its new chief executive’s efforts to double core earnings by 2022.
Business News
Wall Street rallies as blow from fresh tariffs less than feared
U.S. stocks rallied on Tuesday, led by gains in Apple and Amazon, as investors judged the latest tit-for-tat tariffs between the United States and China as less damaging than expected.
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SunPower receives exemption from Trump tariffs, shares soar
SunPower is based in San Jose, California but produces most of its solar products in Mexico and the Philippines. The exemption covers SunPower’s premium, high-efficiency interdigitated back contact (IBC) cells and modules, which the company argued stood apart from the cheap, commoditized imports that dominate the market and were the target of the tariffs. “With today’s decision that SunPower’s highly differentiated IBC cells and modules are excluded from tariffs, we are able to turn the page,” SunPower Chief Executive Tom Werner said in a statement. …read more […]
Business News
China casts shadow over new U.S. LNG terminals with tariff
China set a tariff on U.S. liquefied natural gas (LNG), casting a shadow over U.S. plans for new export terminals that were expected to turn the United States into the world’s second largest LNG seller.
Business News
China to penalize $60 billion of U.S. imports in tit-for-tat move
China and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion of U.S. products to its import tariff list in retaliation for President Donald Trump’s planned levies on $200 billion worth of Chinese goods.
Business News
Trump says U.S. may make a trade deal with China at some point
President Donald Trump on Tuesday left the door open for China to negotiate an end to the current trade war between the United States and the Asian nation, a day after slapping new tariffs on nearly $200 billion Chinese imports and threatening to add taxes to $267 billion more goods.