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Updated: 38 min 15 sec ago

Factbox: What needs to happen before Boeing's 737 MAX can fly again

Fri, 09/13/2019 - 18:04
Boeing Co's best-selling jet, the 737 MAX, was grounded globally in March, days after the crash of an Ethiopian Airlines flight that followed a similar Lion Air disaster in Indonesia in October. A total of 346 people died in the two crashes.
Categories: Financial Media

Solid U.S. retail sales calm some worries about economy

Fri, 09/13/2019 - 18:02
U.S. retail sales increased more than expected in August, pointing to solid consumer spending that should continue to support a moderate pace of economic growth.
Categories: Financial Media

IMF has a decision to make in Argentina: rock or hard place?

Fri, 09/13/2019 - 17:56
The International Monetary Fund has a tough choice to make in Argentina: Unlock over $5 billion in funds under the country's loan deal as the government strains to stave off default, or hold the money back and risk sparking more market panic.
Categories: Financial Media

U.S. appeals court says Trump cannot dodge foreign corruption lawsuit

Fri, 09/13/2019 - 17:54
A U.S. federal appeals court on Friday revived a lawsuit alleging President Donald Trump violated the U.S. Constitution by profiting from foreign and domestic officials who patronized his hotels and restaurants, moving a watchdog group closer to obtaining financial records from his real estate company.
Categories: Financial Media

VW CEO shifts strategy from empire building to efficiency

Fri, 09/13/2019 - 17:50
Volkswagen has abandoned its decades-old obsession with empire building and no-expense-spared engineering to free up resources for the development and mass production of electric cars, its CEO Herbert Diess told Reuters.
Categories: Financial Media

Hong Kong exchange vows to press on with $39 billion LSE bid after rebuff

Fri, 09/13/2019 - 17:33
Hong Kong's exchange refused to give up on its bid to take over the London Stock Exchange after the British bourse emphatically rejected its $39 billion takeover offer on Friday.
Categories: Financial Media

Indian's top trader body seeks ban on Amazon, Flipkart's festive season sale

Fri, 09/13/2019 - 16:35
A leading Indian trader body asked the government on Friday to ban upcoming festive sales on Amazon's local unit and its rival Flipkart, saying their deep discounts violate the country's foreign investment rules for online retail.
Categories: Financial Media

Stocks up for eighth day, bond yields climb on trade signs

Fri, 09/13/2019 - 16:19
A gauge of global stocks rose for an eighth straight day to a six-week high and benchmark government bond yields advanced on Friday as signs of progress in trade talks between the United and China, as well as a solid report on U.S. retail sales, allayed recession worries.
Categories: Financial Media

Exclusive: WeWork considers dramatic valuation discount ahead of IPO

Fri, 09/13/2019 - 16:11
WeWork owner The We Company may seek a valuation in its upcoming initial public offering of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved in January, people familiar with the matter said on Friday.
Categories: Financial Media

London Stock Exchange flatly rejects Hong Kong's $39 billion takeover offer

Fri, 09/13/2019 - 15:51
The London Stock Exchange emphatically rejected the Hong Kong bourse's $39 billion takeover offer on Friday, opting to stick with its planned purchase of data and analytics group Refinitiv.
Categories: Financial Media

ECB hawks rally against Draghi's farewell stimulus

Fri, 09/13/2019 - 15:43
Conservative policymakers slammed the European Central Bank's lavish stimulus measures on Friday, voicing doubts about the need and effectiveness of a package that could consume most of the bank's remaining firepower.
Categories: Financial Media

Draghi's parting shot leaves next ECB boss with existential dilemma

Fri, 09/13/2019 - 15:41
Christine Lagarde will face a momentous decision in her first year as European Central Bank President: give up on reviving inflation or give in to the temptation of bankrolling governments with neverending bond purchases.
Categories: Financial Media

U.S. appeals court rules against Trump in foreign payments case

Fri, 09/13/2019 - 15:37
A U.S. federal appeals court on Friday revived a lawsuit alleging President Donald Trump violated the U.S. Constitution by profiting from foreign and domestic officials who patronized his hotels and restaurants, adding to the corruption claims against Trump.
Categories: Financial Media

Solid U.S. retail sales ease economic growth concerns

Fri, 09/13/2019 - 15:28
U.S. retail sales increased more than expected in August, pointing to solid consumer spending that should continue to support a moderate pace of economic growth.
Categories: Financial Media

Exclusive: WeWork considers IPO valuation of as low as $10 billion - sources

Fri, 09/13/2019 - 15:27
WeWork owner The We Company may seek a valuation in its upcoming initial public offering of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved in January, people familiar with the matter said on Friday.
Categories: Financial Media

PG&E reaches $11 billion settlement relating to wildfire claims

Fri, 09/13/2019 - 15:06
California power producer PG&E Corp said on Friday it has reached an $11 billion settlement with entities representing about 85% of insurance subrogation claims relating to 2017 and 2018 wildfires.
Categories: Financial Media

Crisis-hit Boeing readies huge effort to return 737 MAX to the skies

Fri, 09/13/2019 - 14:58
As Boeing Co sets its sights on winning approval to fly its 737 MAX within weeks, following a six-month safety ban, engineers around the world are rolling out plans for one of the biggest logistical operations in civil aviation history.
Categories: Financial Media

Tech companies won't wait for U.S. to act on social media laws, Microsoft's president says

Fri, 09/13/2019 - 14:46
Microsoft Corp President and Chief Legal Officer Brad Smith said on Friday that technology companies are likely to change how they moderate online platforms in response to new laws from foreign governments, regardless of whether U.S. lawmakers act to change a U.S. law that has allowed social media platforms to flourish.
Categories: Financial Media

Wall Street ticks higher at open on trade optimism, strong retail sales

Fri, 09/13/2019 - 14:37
The S&P 500 and Dow Jones Industrials indexes opened modestly higher on Friday, on growing optimism around trade talks between the United States and China as well as stronger-than-expected domestic retail sales.
Categories: Financial Media

Ford recalls some Explorer SUVs after reports of hand injuries on sharp seat edges

Fri, 09/13/2019 - 14:05
Ford Motor Co said on Friday it was recalling some 2017 Explorer SUVs after receiving reports of 31 people injuring their hands on sharp edges down the side of the front seat.
Categories: Financial Media

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