Aug 20- U.S. stocks eased on Tuesday after three sessions of strong gains, weighed by declines in financial companies, while better-than-expected results propped up retailer Home Depot. After a stormy start to the month on worsening trade tensions, the three main indexes have rebounded sharply, with the S&P 500 and the Nasdaq erasing last week's losses on signs...
After a stormy start to the month on worsening U.S.- China trade tensions, the three main indexes have rebounded sharply, with the S&P 500 and the Nasdaq erasing last week's losses on signs Germany and China are considering stimulus. A report late on Monday said White House officials are discussing the possibility of a temporary payroll tax cut in an effort to...
Aug 19- Sarepta Therapeutics Inc said on Monday the U.S. Food and Drug Administration declined to approve its newest treatment for Duchenne muscular dystrophy, citing safety concerns including the risk of infection and kidney toxicity. The Cambridge, Massachusetts- based company is also in a close race with Pfizer Inc and Solid Biosciences Inc to introduce a...
NEW YORK, Aug 19- General Electric Co intensified its defense of its accounting practices on Monday after investors questioned it about an unusual research report alleging GE failed to put aside money to cover $29 billion in potential insurance losses and improperly counted profit from subsidiary Baker Hughes. GE shocked investors in 2017 by saying it would...
NEW YORK, Aug 19- General Electric Co intensified its defense of accounting practices on Monday after investors questioned it about an unusual research report alleging GE failed to put aside money to cover $29 billion in potential insurance losses and improperly counted profit from subsidiary Baker Hughes. GE's shares fell as much as 15% after financial...
NEW YORK, Aug 19- General Electric Co further defended itself on Monday against fraud investigators who said last week the Boston- based conglomerate had failed to put aside money to cover $29 billion in potential insurance losses and had improperly counted profit from subsidiary Baker Hughes as its own. GE has disclosed that its accounting is being...
BOSTON/ NEW YORK, Aug 16- Activist investor Paul Hilal's Mantle Ridge LP has bought nearly 10% of Aramark's common stock to push for changes at the U.S. food services company, a regulatory filing showed on Friday. Based in Philadelphia, Aramark is a provider of food and uniforms to education, healthcare, business, sports and leisure establishments.
A four-week supply of Humira, the world's best-selling medicine, has a list price of about $5,174, amounting to more than $60,000 for a year. Humira brought in global revenue of $4.87 billion in the second quarter, but sales have been hit by competition from cheaper rivals in Europe, and AbbVie in June announced a deal to buy Botox-maker Allergan Plc for $63 billion...
The three main Wall Street indexes extended gains after a report that Germany's right-left coalition government would be prepared to ditch its balanced budget rule and take on new debt to counter a possible recession. "This is huge news from a European perspective," said Brad McMillan, chief investment officer of Commonwealth Financial Network in Waltham,...
*U.S. retail sales rise, initial claims weaker than expected. NEW YORK, Aug 15- U.S. 30- year Treasury yields fell to a record low below 2% and benchmark 10- year notes dropped to a three-year trough on Thursday amid persistent worries about global trade tensions and economic slowdowns around the world. Some analysts said the latest slide was due to a report from The...
*U.S.- China trade rhetoric intensifies. NEW YORK, Aug 15- Wall Street seesawed from red to black and back on Thursday as recessionary fears and simmering U.S.- China trade tensions offset upbeat retail sales data. Consumers, who account for about 70% of the U.S. economy, stepped up their spending across the board in July, according to the Commerce Department.
Aug 15- General Electric shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff's Ponzi scheme, said GE was concealing deep financial problems. The report echoes the assertions of some of Wall Street's more skeptical analysts, who have long raised alarms about GE's low cash flow, frequent...
Aug 15- General Electric shares fell 7.5% on Thursday after Harry Markopolos, the whistleblower in the Bernard Madoff Ponzi scheme case, said GE's financial filings were masking the depths of its financial problems. The report echoes the assertions of some of Wall Street's more skeptical analysts who have long raised alarms about GE's low cash flow, frequent...
*U.S. retail sales rise, initial claims weaker than expected. NEW YORK, Aug 15- U.S. 30- year Treasury yields fell to a record low below 2% and benchmark 10- year notes dropped to a three-year trough on Thursday amid persistent worries about global trade tensions and economic slowdowns around the world. "I don't think we have seen a bottom in yields yet," said Gary Pzegeo,...
BOSTON, Aug 13- Fidelity Investments' courtroom battle with the IRS over disallowed tax credits drew to a close on Tuesday when lawyers clashed over whether the mutual fund giant was a bonafide partner in the production of chemically treated coal. Boston- based Fidelity invested in the production of refined coal at three South Carolina power plants to qualify...
BRUSSELS/ SAN FRANCISCO, Aug 13- Google's fast-growing tool for searching job listings has been a boon for employers and job boards starving for candidates, but several rival job-finding services contend anti-competitive behavior has fueled its rise and cost them users and profits. In a letter to be sent to European Union competition commissioner Margrethe...
Aug 9- As President Donald Trump prepares to slap new tariffs on Chinese imports, investors are bracing for signs of pressure on U.S. consumers as top retailers begin reporting quarterly results next week and key consumer sentiment and retail sales data is released. Mona Mahajan, U.S. investment strategist at Allianz Global Investors in New York, is among...
In June, the USDA acreage report's projections far exceeded industry supply estimates, causing panic in the grain market. The American Farm Bureau claimed the report triggered a nearly $2.6 billion drop in the value of new-crop corn. "That USDA report was an absolute joke," said Brad Freking, owner of New Fashion Pork, which produces 1.4 million market hogs a year...
Aug 9- As President Donald Trump prepares to slap new tariffs on Chinese imports, investors are bracing for signs of pressure on U.S. consumers as top retailers begin reporting quarterly results next week and key consumer sentiment and retail sales data is released. Mona Mahajan, U.S. investment strategist at Allianz Global Investors in New York, is among...
NEW YORK, Aug 7- Big U.S. banks are under pressure again, as policymakers around the globe have dashed any hopes that the industry might finally be able to earn more money on loans, after more than a decade of rock-bottom interest rates. On Wednesday, central banks in New Zealand, India and Thailand slashed their benchmark rates to prop up their economies and stave off...
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