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Venezuela launches crypto-pegged forex rate, effectively devaluating by 96 percent
Venezuela's president Nicolas Maduro announced on Friday a single exchange rate and pegged it to his socialist government's petro cryptocurrency, effectively devaluating by 96 percent.
Posted on : 2018-08-18 06:51:40
Walmart asks some beauty suppliers to consider sourcing outside of China
Walmart Inc has asked some beauty suppliers to consider sourcing products from outside China, as it looks for ways to mitigate the impact of a new set of tariffs on Chinese products proposed by the Trump administration.
Posted on : 2018-08-18 03:36:48
Ex-lawyer of pharma executive Shkreli gets 18 months prison for fraud scheme
A New York lawyer was sentenced to 18 months prison on Friday for helping Martin Shkreli, currently serving a seven year prison sentence after being convicted of related charges, defraud a drug company that Shkreli had founded.
Posted on : 2018-08-18 03:33:29
Thyssenkrupp's interim chairman says structure is not sacrosanct - Focus
Thyssenkrupp's workers are prepared to do their part in the ongoing restructuring of the embattled conglomerate, its interim chairman and trade union secretary Markus Grolms told a German magazine.
Posted on : 2018-08-18 03:18:26
Turkey's lira falls 3 percent, Trump won't take pastor's detention 'sitting down'
Turkey's battered lira weakened 3 percent on Friday after a Turkish court rejected an American pastor's appeal for release, drawing a stiff rebuke from President Donald Trump, who said the United States would not take the detention "sitting down".
Posted on : 2018-08-18 03:17:24
S&P lowers Turkey's credit rating deeper into junk territory
Standard & Poor's said on Friday it had cut Turkey's sovereign credit rating deeper into "junk" territory, citing extreme lira volatility and forecasting a recession next year, adding to the country's woes as it deals with a currency crisis.
Posted on : 2018-08-18 02:22:46
Wall Street rises on upbeat trade news
U.S. stocks closed higher on Friday, with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in tariff disputes between the United States and its trading partners China and Mexico.
Posted on : 2018-08-18 02:16:36
Musk's tunnel-boring firm seeks U.S. tariff exemption for Chinese parts
A company owned by Elon Musk that is trying to lower the cost of building high-speed transit tunnels has asked the Trump administration to exempt it from tariffs for some Chinese-made tunnel boring machine components, warning the tariffs could significantly delay a planned tunnel between New York and Washington.
Posted on : 2018-08-18 01:49:38
Wall Street rises on trade talk optimism
U.S. stocks closed higher on Friday, with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in trade disputes between the United States and its trading partners China and Mexico.
Posted on : 2018-08-18 01:39:51
Tesla stock sinks after Musk gives tearful NYT interview
Tesla Inc's shares slumped 9 percent on Friday after Chief Executive Officer Elon Musk told the New York Times he was under major emotional stress and was preparing for "extreme torture" from short sellers.
Posted on : 2018-08-18 01:37:30
Oil rises in session, but has weekly loss on trade worries
Crude prices rose on Friday, but declined on the week on worries that oversupply would weigh on the U.S. market while trade disputes and slowing global economic growth would dampen demand for oil.
Posted on : 2018-08-18 01:36:45
U.S. SEC moves to ease information disclosure requirements
The top U.S. securities regulator on Friday said it had voted to simplify and update requirements for disclosing information that it considers redundant or outdated, with the aim of reducing compliance burdens for companies.
Posted on : 2018-08-18 01:31:28
Exclusive: ValueAct invests $800 million in financial stocks in second quarter - letter
Activist hedge fund ValueAct Capital Management boosted investments in financial stocks by more than $800 million during the second quarter, citing attractive risk-adjusted values of big banks, according to a client letter viewed by Reuters.
Posted on : 2018-08-18 01:23:12
SEC says it continues to study frequency of company reporting
The Securities and Exchange Commission will continue to study the frequency of public company reporting after President Donald Trump called on the agency to consider shifting from quarterly to semiannual reports, SEC Chairman Jay Clayton said on Friday.
Posted on : 2018-08-18 01:07:10
Wall Street jumps on news of trade progress
The S&P 500 and the Dow Jones Industrial average extended gains and the Nasdaq turned positive on Friday on reports of progress in talks between the United States and China and other trading partners.
Posted on : 2018-08-18 01:05:27
Turkey's lira weakens 4 percent, Trump says won't take pastor's detention 'sitting down'
Turkey's battered lira weakened 4 percent on Friday after a Turkish court rejected an American pastor's appeal for release, drawing a stiff rebuke from President Donald Trump, who said the United States would not take the detention "sitting down".
Posted on : 2018-08-18 00:55:39
Brazil's Marfrig to sell U.S. unit to Tyson for $2.5 billion - sources
Brazilian meatpacker Marfrig Global Foods SA has agreed to sell its U.S. subsidiary, a key McDonald's supplier, to Tyson Foods Inc for $2.5 billion, two people with knowledge of the matter told Reuters on Friday.
Posted on : 2018-08-18 00:54:27
Analysis: Kill quarterly reporting? Some investors ring alarm bells
Less reporting by U.S. corporations could put shareholders in the dark, allow companies to drift off course and even make U.S. stocks less attractive and create less public company investment, some investors and analysts argue.
Posted on : 2018-08-18 00:36:29
Global Markets: Stocks edge higher as Turkey worries offset U.S.-China trade talks
NEW YORK - Another steep decline in the Turkish lira on Friday pushed emerging market equities lower and kept other world markets cautious, overshadowing hopes that an upcoming U.S.-China meeting would resolve concerns over trade tariffs.
Posted on : 2018-08-18 00:18:49
Wall Street surges on news of trade progress
The S&P 500 and the Dow Jones Industrial average extended earlier gains and the Nasdaq turned positive on Friday on reports of potential progress in easing trade tensions between the United States and its trading partners.
Posted on : 2018-08-18 00:09:22
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