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Updated: 12 hours 1 min ago

Cheaper gasoline weighs on U.S. consumer prices in December

Sat, 01/12/2019 - 05:49
U.S. consumer prices fell for the first time in nine months in December amid a plunge in gasoline prices, but underlying inflation pressures remained firm as rental housing and healthcare costs rose steadily.

Powell sought fast end in 2013 to Fed's bond-buying program

Sat, 01/12/2019 - 05:46
Federal Reserve Chairman Jerome Powell, in his early days on the U.S. central bank's board of governors, argued frequently and forcefully for an end to the bond purchases undertaken to support the recovery from the financial crisis, transcripts of policy meetings from 2013 released on Friday showed.

Timeline: Key events for the Fed in 2013 - the year of the 'taper tantrum'

Sat, 01/12/2019 - 05:38
The year 2013 was a tumultuous one for the U.S. Federal Reserve as it wrestled with when and how to end the controversial bond-buying program it began in response to the 2007-2009 financial crisis and recession.

Wall Street weekahead: Slashed profit expectations may set stage for gains

Sat, 01/12/2019 - 05:36
There could well be a silver lining in all the caution around the stock market as the earnings season approaches: Shares do way better when profit expectations have fallen, and lately, they've been falling like a rock.

SpaceX to layoff 10 percent of workforce

Sat, 01/12/2019 - 04:51
Elon Musk's rocket company SpaceX will reduce its workforce by about 10 percent of the company's more than 6,000 employees, it said on Friday.

Apple demanded $1 billion for chance to win iPhone: Qualcomm CEO

Sat, 01/12/2019 - 04:47
Qualcomm sought to become the sole supplier of modem chips for Apple's iPhone to recoup a $1-billion "incentive payment" that Apple insisted on, not to block rivals from the market, Qualcomm's chief executive testified on Friday.

U.S. to seek comprehensive agriculture access in EU trade talks

Sat, 01/12/2019 - 03:01
The United States on Friday signalled it would not bow to the European Union's request to keep agriculture out of planned U.S.-EU trade talks, publishing negotiating objectives that seek comprehensive EU access for American farm products.

Wall Street's five-day rally flickers out as earnings near

Sat, 01/12/2019 - 02:20
Wall Street dipped slightly on Friday, breaking a five-session rally, as energy shares declined and investors looked ahead to earnings season, which kicks off next week with Citigroup, JPMorgan and other big banks.

GM bucks gloomy earnings forecast trend, shares jump

Sat, 01/12/2019 - 02:14
General Motors Co executives on Friday bucked gloomy forecasts for growth and sent the automaker's shares soaring, promising investors stronger 2019 earnings and outlining ambitious plans for its Cadillac brand to challenge Tesla Inc in the growing electric vehicle market.

Disney CEO stock award worth as much as $149.6 million in 2018

Sat, 01/12/2019 - 01:53
Walt Disney Co Chief Executive Officer Robert Iger earned stock grants worth as much as $149.6 million in 2018, including awards related to Disney's purchase of film and television assets from Twenty-First Century Fox , according to a regulatory filing on Friday.

U.S. shutdown sends grain traders, farmers hunting for data

Sat, 01/12/2019 - 01:38
When the U.S. Department of Agriculture announced last week that a slew of key farm reports would not be released on Friday due to the partial government shutdown, the phones at crop forecaster Gro Intelligence blew up.

Huawei Canada executive leaves post as scrutiny of company grows

Sat, 01/12/2019 - 00:57
One of Huawei Canada's top executives on Friday disclosed he was leaving his post after more than seven years with the Chinese telecommunications equipment maker, which is facing heightened scrutiny over security issues from Canada and its allies.

Global Markets: U.S. stocks pause after five-day rally; dollar rebounds

Sat, 01/12/2019 - 00:28
Wall Street ended little changed on Friday, taking a breather following a five-day winning streak, while the dollar rebounded against most currencies from earlier losses tied to expectations the U.S. central bank is in no hurry to raise interest rates.

Microsoft wins $1.76 billion defence contract - Pentagon

Sat, 01/12/2019 - 00:26
Microsoft Corp has been awarded a five-year contract worth $1.76 billion for delivering enterprise services for the Defense Department, Coast Guard and intelligence services, the Pentagon said on Friday.

If U.S. again risks default, Fed has 'loathsome' playbook

Sat, 01/12/2019 - 00:20
Should political deadlock in Washington again bring the world's biggest economy to the brink of a debt default, the U.S. central bank has a playbook that includes options one policymaker once labelled "loathsome," but, perhaps, necessary.

Insight: Ghosn's Renault lieutenant drew extra salary via holding - documents

Fri, 01/11/2019 - 09:38
One of Renault boss Carlos Ghosn's senior executives received an additional six-figure salary unknown to the carmaker's board via the Dutch joint venture overseeing its alliance with Nissan, according to sources and documents seen by Reuters.

Gold prices rise as Fed stance weakens dollar

Fri, 01/11/2019 - 09:35
Gold prices climbed on Friday as the dollar retreated on expectations the Federal Reserve may pause interest rate hikes if the U.S. economy slows this year, while investors awaited news on progress in the Sino-U.S. trade talks.

Analysis: China and slow growth may keep the punchbowl brimming

Fri, 01/11/2019 - 09:08
It was meant to be the first year in nearly a decade that the world's central banks took more cash out of markets than they pumped in. Instead, China -- and slowing growth elsewhere -- may ensure yet another year of positive liquidity flows.

Global Markets: Asia stocks crawl to five-week high, yuan makes big weekly gains

Fri, 01/11/2019 - 08:54
Asian stocks inched up to five-week highs on Friday, after Chairman Jerome Powell reiterated the Federal Reserve will be patient about raising interest rates and news that trade talks between Washington and Beijing are moving to higher levels.

Exclusive: Goldman Sachs on course to launch cash management in mid-2020

Fri, 01/11/2019 - 08:34
Goldman Sachs Group Inc is considering paying big multinational corporations more for their deposits than other banks as it paves the way for its entry into a mundane but prized business: managing cash.