Business News

Shift from non-GAAP bottom lines could be good for stock prices

SAN FRANCISCO (Reuters) - Investors worried about lofty stock-market valuations may take comfort in signs that companies in the benchmark S&P 500 index are padding their bottomlines less than they have in previous years. Recent changes to accounting standards and a crackdown last year by the Securities Exchange Commission are encouraging many companies to be more cautious about reporting metrics that do not adhe...

19 Aug 2:25 AM 0 Read More...

S&P 500 ends down after latest White House turmoil

NEW YORK (Reuters) - U.S. stocks ended down slightly after another volatile session on Friday following the latest White House shakeup and increased focus on the outlook for the Trump administration's agenda and post-election rally. While the day's losses were small, Friday marked the first time stocks haven't risen the day after a more than 1 percent drop since Donald Trump was elected president on Nov. 8. Thursday'...

18 Aug 9:24 PM 0 Read More...

Summer rumblings could herald a stormy fall for U.S. stocks

NEW YORK (Reuters) - The Trump-fed rally in stocks, lately showing signs of faltering as the long Wall Street summer nears its end, faces a key test in the weeks ahead with the approach of a historically unkind season for equities and a clutch of issues - such as raising the debt ceiling - awaiting the return of lawmakers to Washington. With September, typically the worst month in the year for stocks, on the doorstep...

18 Aug 9:24 PM 0 Read More...

NAFTA negotiators hone in on origin rules, dispute settlement

WASHINGTON (Reuters) - U.S., Canadian and Mexican negotiators on Friday began digging into some of the thorniest issues in modernizing the North American Free Trade Agreement, including rules of origin for goods produced in the region, services trade and a controversial dispute settlement system. A copy of the NAFTA negotiating agenda obtained by Reuters reveals that meetings on rules of origin, a provision that dete...

18 Aug 9:24 PM 0 Read More...

Stability concerns focus at Fed ahead of Yellen speech

WASHINGTON (Reuters) - The stock market's steady rise, still low long-term bond yields and a sagging dollar are girding the Fed's intent to raise interest rates again this year despite concerns about weak inflation, according to comments this week from Fed officials and analysts anticipating remarks next week by Chair Janet Yellen. Minutes of the July Federal Open Market Committee meeting released this week flagged a...

18 Aug 9:24 PM 0 Read More...

Elliott Management lawyer says utility may top Buffett's Oncor bid

(Reuters) - A lawyer for Elliott Management told a U.S. bankruptcy judge on Friday that an unidentified utility could pay $9.3 billion to buy Texas power transmission company Oncor, topping a $9 billion bid by Warren Buffett's Berkshire Hathaway Inc. Elliott, a hedge fund and largest creditor of Oncor's bankrupt parent Energy Future Holdings Corp, has been seeking to block Oncor's sale to Berkshire Hathaway and put t...

18 Aug 9:24 PM 0 Read More...

Wall Street pares losses on report of Bannon's likely exit

(Reuters) - U.S. stocks pared losses in late morning trading on Friday after a report by news website Axios that White House Senior Adviser Steve Bannon could exit soon. The report said White House Chief of Staff John Kelly would decide whether Bannon, one of President Donald Trump's top aides, will keep his job. At 11:50 a.m. ET the Dow Jones industrial average .DJI was down 12.89 points, or 0.06 percent, at 21,737....

18 Aug 4:21 PM 0 Read More...

India threatens Philip Morris with 'punitive action' over alleged violations

NEW DELHI (Reuters) - The Indian government has threatened Philip Morris International Inc with "punitive action" over the tobacco giant's alleged violation of the country's anti-smoking laws, according to a letter sent to the company by the federal health ministry. The letter was prompted by a Reuters investigation last month that revealed how Philip Morris was deploying marketing tactics in India, some targeting yo...

18 Aug 4:21 PM 0 Read More...

Nestle defends ‘Kit Kat’ campaign against Atari ‘Breakout’ lawsuit

(Reuters) – Nestle SA on Friday paddled back claims in a new lawsuit in which Atari SA accused the Swiss food company of pilfering its classic 1970s video game “Breakout” to help sell Kit Kat chocolate-covered wafer bars. Nestle damaged Atari’s goodwill and reputation on Facebook, Twitter and television by exploiting the name, look and feel of “Breakout,” it said in a copyright and trademark infringemen...

18 Aug 4:21 PM 0 Read More...

Investors flee stocks for bonds, gold as U.S. tax cut hopes fade

LONDON (Reuters) - World stocks were set for a second day of losses on Friday after an exodus of U.S. executives from presidential business councils dealt a fresh blow to hopes of tax reform, hammering Wall Street and filtering through to Asia and Europe. Investors fled instead into German and U.S. Treasury bonds and bought gold for the third day in a row, as the appeal of such top-notch assets grew further due to a ...

18 Aug 11:20 AM 0 Read More...