Business

(Reuters) – Wall Street reached record highs on Friday, with the S&P 500 surpassing 2,500 points as telecommunications shares rose and technology bounced back after two days of declines. The S&P 500’s breach of the 2,500-mark came less than four months after it closed above 2,400, and brought 2017’s gain to nearly 12 percent. Professional
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NEW YORK (Reuters) – U.S. equity investors could rotate out of high-yielding sectors and into stocks of banks, which would benefit from the next leg up in interest rates, after the Federal Reserve’s policy-setting meeting wraps up on Wednesday.     If the Fed next week gives a nod to rising inflation or focuses its trimmed-down bond buying on longer-dated
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WASHINGTON (Reuters) – U.S. retail sales unexpectedly fell in August, likely hurt by the impact of Hurricane Harvey on motor vehicle purchases, suggesting a moderation in consumer spending in the third quarter. The Commerce Department said on Friday retail sales dropped 0.2 percent last month, the biggest decline in six months. Data for July was
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PARIS/FRANKFURT (Reuters) – The battle over how and where Europeans charge their electric cars is expanding from the continent’s cities to its motorways. Power utilities, tech start-ups and oil majors are fighting to establish themselves as the dominant players in the fast-growing business of charging stations – but advances in electric vehicles means where they
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TOKYO (Reuters) – Asian stocks wobbled on Wednesday but still marked a 10-year high, cheered by record highs on Wall Street, while shares of Apple Inc’s (AAPL.O) suppliers dipped following the release of the latest iPhone. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was slightly lower, after earlier poking up to its highest
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(Reuters) – The S&P 500 surged over 1 percent to a record high close on Monday as tropical storm Irma caused less damage than expected in Florida, and after North Korea did not test-fire missiles over the weekend, which some had feared. All 11 major S&P 500 sectors rose, led by financial stocks, with insurers
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MONACO (Reuters) – As Hurricane Irma battered Florida on Sunday, the cream of the insurance world — gathered under the Mediterranean sun in Monte Carlo — was assessing the costs of the storm for the global industry. The takeaway so far: Irma and its predecessor Hurricane Harvey, which caused massive flooding in Texas two weeks
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FRANKFURT (Reuters) – Europe’s regulators are competing to hire risk specialists to prepare for an influx of banks escaping Brexit, nudging up salaries and stretching staff budgets. Wall Street giants Goldman Sachs, Citigroup and Morgan Stanley, which have big operations in London, intend to expand in the European Union after Britain’s departure. Germany’s financial regulator,
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BERLIN (Reuters) – The European Union’s economic and financial committee has criticized U.S. President Donald Trump’s economic policy and is worried that his efforts to boost protectionism pose a threat to the global economy, a German magazine reported on Saturday. “The effects of that could be much more damaging than had been thought until now,”
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ASTANA (Reuters) – Private market investments have become a crucial part of sovereign wealth funds’ (SWF) portfolios, helping them better tap the potential of key emerging markets such as China and India, a Goldman Sachs Asset Management (GS.N) executive said. Global sovereign wealth funds have been increasing their spending on alternative investments such as private
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NEW YORK (Reuters) – U.S. prosecutors on Thursday asked a judge to jail Martin Shkreli while he awaits sentencing for securities fraud, after a Facebook post by the former drug company executive about Hillary Clinton prompted an investigation by the U.S. Secret Service. “Shkreli has engaged in an escalating pattern of threats and harassment that
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(Reuters) – Wall Street ended little changed on Thursday after a moderate late-day rally as media stocks, which slumped on negative business updates from Walt Disney and Comcast, were offset by gains in healthcare shares. Comcast (CMCSA.O) dropped 6.2 percent after the cable operator warned of subscriber losses, while Disney shares fell 4.4 percent after
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(Reuters) – India’s Eicher Motors Ltd (EICH.NS), maker of Royal Enfield classic motorbikes, is set to make a binding takeover bid for Italian motorcycle manufacturer Ducati for $1.8 billion-$2 billion, the Economic Times daily reported on Thursday. Eicher is currently finalizing and structuring terms with global banks and consulting companies ahead of a bid deadline
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