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Wall Street bounces back after selloff driven by Italy turmoil
(Reuters) – Wall Street rose on Wednesday, with gains in energy and banking stocks fueling the recovery from a steep selloff driven by Italy’s political crisis.
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NXP shares fall as China’s warning revives concerns over Qualcomm deal
Qualcomm lawyers were expected to meet this week in Beijing with China’s antitrust regulators in a final push to secure clearance, three sources told Reuters on Sunday. The meeting was expected before U.S. Commerce Secretary Wilbur Ross arrived in China on Saturday, the sources briefed on Qualcomm’s discussions had said. …read more […]
Business News
Wall Street opens higher after selloff driven by Italy turmoil
(Reuters) – U.S. stocks opened higher on Wednesday, rebounding from a steep selloff in the previous session on worries about a political crisis in Italy.
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Trump Wishes He’d Never Chosen Jeff Sessions as Attorney General
President Donald Trump said he wishes he’d never selected former U.S. Senator Jeff Sessions as his attorney general so that he could have picked someone else to oversee the probe of Russian meddling in the 2016 presidential election. In a series of tweets on Wednesday, Trump quoted an appearance by Representative Trey Gowdy in which he criticized Sessions for recusing himself from the probe and said Trump had many other options as his top law enforcement officer. “There are lots of really good lawyers in the country, he could have picked somebody else!” Gowdy said. …read more […]
Business News
Wall Street set to recover after selloff driven by Italy turmoil
(Reuters) – U.S. stocks were set to open higher on Wednesday, indicating a rebound from the steep selloff driven by a political crisis in Italy that had pushed the S&P 500 and the Dow Industrials to their worst day in a month.
Business News
NXP shares fall as China’s warning revives concerns over Qualcomm deal
(Reuters) – Shares of NXP Semiconductors NV fell 5 percent on Wednesday after China’s latest warning against U.S. trade threats dulled hopes of an early approval by Beijing for Qualcomm’s $44 billion acquisition of the chipmaker.
Business News
U.S. first-quarter growth revised a touch lower
WASHINGTON (Reuters) – U.S. economic growth slowed slightly more than initially thought in the first quarter amid downward revisions to inventory investment and consumer spending, but a robust labor market and income tax cuts are likely to boost activity this year.
Business News
Uniper supervisory board rejects calls for Elliott-backed audit
FRANKFURT (Reuters) – Uniper’s supervisory board on Wednesday urged shareholders to reject a motion by activist investor Elliott to launch a probe into whether management sought to block the sale of a major stake to Fortum , in a deal it opposes.
Business News
Adidas takes 12-10 lead over Nike in World Cup shirt deals
BERLIN (Reuters) – Adidas can declare itself the winner over arch rival Nike in the upcoming soccer World Cup even before the first match kicks off as it is kitting out the most teams.
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U.S. first-quarter growth revised down to 2.2 percent
(Reuters) – U.S. economic growth slowed slightly more than initially thought in the first quarter amid downward revisions to inventory investment and consumer spending, but income tax cuts are likely to boost activity this year.
Business News
Fox sets Disney deal vote for July 10
(Reuters) – Twenty-First Century Fox Inc will hold a special meeting on July 10th for its stockholders to vote on a proposed merger with Walt Disney Co , the company said on Wednesday.
Business News
AirAsia shares tumble as India probe threatens IPO plans
SINGAPORE/KUALA LUMPUR (Reuters) – AirAsia Group Bhd shares plunged on Wednesday after federal police in India filed a case against the airline accusing it of corruption – a probe that threatens to delay its India unit’s IPO plans and international expansion.
Business News
Stock futures steady after selloff due to Italy crisis
(Reuters) – U.S. stock index futures rose on Wednesday, suggesting a respite from a steep selloff that had pushed the S&P and the Dow Jones Industrial Average to their worst day in a month due to a political crisis in Italy.
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Lufthansa to query German cartel office over price analysis
FRANKFURT (Reuters) – Lufthansa did not make any additional profit on domestic German routes after the collapse of local rival Air Berlin, and prices did not go up by as much as determined by the cartel office, an executive at the airline said on Wednesday.
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Aerospace group Safran sticks to LEAP engine targets, no ‘bad surprises’ at Zodiac
PARIS (Reuters) – French aerospace firm Safran is sticking to production targets for the LEAP jet engine, but is still unwilling to back proposals for higher output from Airbus and Boeing until it is convinced its own suppliers can keep up, its chief executive said on Wednesday.