Business & Finance News
Wall Street slid 1 percent on Monday, weighed down by retailers and health stocks and after DoubleLine’s Jeffrey Gundlach said U.S. equities are in a long-term bear market and that the Federal Reserve should not raise rates this week.
U.S. ethanol producers stung by collapsing prices are seeking changes to the way benchmark values for the biofuel are established, arguing the current system used by exchanges is vulnerable to manipulation, according to sources.
Jeffrey Gundlach, chief executive of DoubleLine Capital, on Monday said the S&P 500 is headed to new lows and that U.S. equities are in a long-term bear market.
The top U.S. securities regulator on Monday said that Bank of New York Mellon will pay more than $54 million to settle charges of improper handling of “pre-released” American Depositary Receipts, U.S. securities representing foreign shares of a foreign company.
The Czech cyber watchdog warned network operators on Monday against using software or hardware made by Chinese telecom equipment suppliers Huawei and ZTE , saying they posed a security threat.
Wall Street dropped on Monday, but recovered from a slide of over 1 percent, weighed down by an Amazon-led drop in retailers and weakness in health stocks, with gains in banks ahead of a widely expected rate hike limiting losses.
Goldman Sachs Group Inc , Morgan Stanley and Bank of America Merrill Lynch are regaining clout in Latin America’s largest economy as Brazilian companies opt to list shares in New York instead of on their local exchanges, Refinitiv data shows.
The United States came under fire from China and the European Union on Monday, accused by both major trading partners of taking protectionist measures and bringing the World Trade Organization (WTO) to its knees.
Oil prices fell about 1 percent on Monday on signs of oversupply in the United States and as investor sentiment remained under pressure from concern over the prospects for global economic growth and fuel demand.
Shares of Johnson & Johnson slipped another 2 percent on Monday, extending losses following Friday’s Reuters report that the healthcare conglomerate knew for decades that cancer-causing asbestos lurked in its Baby Powder.
An Italian judge said on Monday oil majors Eni and Royal Dutch Shell were fully aware their 2011 purchase of a Nigerian oilfield would result in corrupt payments to Nigerian politicians and officials.
Broad stock declines in Europe and the United States dragged world equity markets lower on Monday, adding to a sell-off that has sent global stocks near 17-month lows.
Wall Street slid 1 percent on Monday, led by healthcare stocks after a federal ruling that Obamacare was unconstitutional, with the decline in the market-leading sector further unnerving investors already concerned about slowing global growth.
U.S. stocks opened lower on Monday, as edgy investors waited for the Federal Reserve’s monetary policy guidance and its implications of slowing global growth.
China said on Monday that the Trump administration’s trade measures on items from steel to intellectual property taken under the guise national security were “bringing back to life the ghost of unilateralism”.
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