CSX said it expects revenue to fall as much as 2% in 2019, well below a previous forecast of an increase of 1% to 2%.Marketsread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
The growth in net interest income, a main engine of the industry's profit, looks to slow to a halt in the back half of this year.Banksread more
Amazon also said that on Monday and Tuesday it sold more Amazon devices — like the Echo Dot, the Fire TV Stick and Alexa Voice Remote — over a two-day period than it ever has...Retailread more
The news comes after eBay announced a strategic portfolio review on March 1.The Faber Reportread more
If the S&P 500 climbs another 4%, it will have doubled the peak reached in the previous bull market, Michael Santoli notes.Trading Nationread more
Ascending triangle patterns have been appearing across the stock market, and they tend to be precursors to higher prices, says Miller Tabak's Matt Maley.Trading Nationread more
Netflix reports earnings Wednesday as it loses licensed shows to rivals launching their own streaming services.Technologyread more
Hedge fund manager Kyle Bass reportedly thinks that U.S. interest rates will plummet toward zero in 2020 as the economy heads for recession.Hedge Fundsread more
Shares of beauty and wellness products company Nu Skin tanked on Wednesday after the company said China's crackdown on health products is weighing on sales.Investingread more
Buying stocks when they are this expensive has historically led to lower returns, data compiled by Ned Davis Research shows.Marketsread more
SANTIAGO, June 20 (Reuters) - Chile salmon farmer Nova Austral plans to pull the pens it uses to raise salmon from the ocean waters off a national park near the southern tip of Chilean Patagonia, its chief executive said on Thursday.
A recent expansion of Chile's Alberto de Agostini National Park left the company's pens within park boundaries. The sprawling coastal park is home to several tidewater glaciers, deepwater fjords and a mountain range named after English naturalist Charles Darwin.
"We have agreed to emigrate out of the park," CEO Nicos Nicolaides told reporters in Santiago, adding that the government had not required the company remove the pens.
Chile's aquaculture regulator has said it will issue no new concessions inside the park.
Salmon farmers in Chile have come under increased scrutiny after nearly 700,000 fish swam into the wild last year when a storm damaged pens owned by Marine Harvest, which operates further north in Chile. Environmentalists have also criticized the industry's use of antibiotics to stave off disease.
Nova Austral, owned by investment funds Bain Capital and Altor Fund III, operates only in the pristine waters of far southern Chile.
Nicolaides said the region's frigid, glacier-fed waters have allowed it to raise salmon without the use of antibiotics since 2015.
The company said it would invest $80 million over two years to relocate the production from the 26 concessions it had within the park to new locations in the Magallanes region of Chile.
Chile is the world's No. 2 producer of farmed salmon, behind Norway. (Reporting by Natalia Ramos Writing by Dave Sherwood Editing by Phil Berlowitz )