Business News

Wall St. hits record highs on strong technology, health stocks

NEW YORK U.S. stocks rose on Monday, with the S&P 500 and the Dow hitting record highs with growth sectors such as technology in favor again as investors appeared to regain confidence in the economy after upbeat comments from Federal Reserve officials.Nasdaq's biotechnology index .NBI rose 2.5 percent in its biggest one-day gain since February while the S&P's healthcare index .SPXHC had a record-high clo...

19 Jun 10:25 PM 0 Read More...

Tech CEOs meet with U.S. officials ahead of Trump talks

WASHINGTON Major U.S. technology company chief executives sat down with White House senior adviser Jared Kushner and other top Trump administration officials on Monday before meeting with the president on cutting government waste and improving information technology services.Other officials meeting in 10 small group sessions with the executives included Vice President Mike Pence, Treasury Secretary Steve Mnuchin ...

19 Jun 10:25 PM 0 Read More...

Tesla driver in fatal 'Autopilot' crash got numerous warnings: U.S. govt.

WASHINGTON A man killed in a crash last year while using the semi-autonomous driving system on his Tesla Model S sedan kept his hands off the wheel for extended periods of time despite repeated automated warnings not to do so, a U.S. government report said on Monday The National Transportation Safety Board (NTSB) released 500 pages of findings into the May 2016 death of Joshua Brown, a former Navy SEAL, near W...

19 Jun 10:25 PM 0 Read More...

As inflation misses goal, Fed's Evans calls for gradual rate hikes

NEW YORK With inflation stubbornly soft despite a 16-year low in the U.S. unemployment rate, the Federal Reserve should move only slowly to raise interest rates and trim its massive bond portfolio, Chicago Fed President Charles Evans said Monday."I don’t want to get hung up over small differences" between whether the Fed raises rates two, three or four times over the course of 2017, Evans said in remarks prepare...

19 Jun 10:25 PM 0 Read More...

U.S. to seek to block DraftKings, FanDuel fantasy sports merger

WASHINGTON The U.S. Federal Trade Commission said on Monday it will seek to stop the merger of DraftKings and FanDuel, because the combined company would control more than 90 percent of the U.S. market for paid daily fantasy sports contests.The FTC, along with the attorneys general of California and the District of Columbia, will file a complaint in federal district court seeking a preliminary injunction to block ...

19 Jun 10:25 PM 0 Read More...

Wall St. at record highs as tech stocks bounce back

U.S. stocks were higher in early afternoon trading on Monday, with the S&P 500 and the Dow Jones Industrial Average hitting record highs as technology stocks rebounded after recent losses.The S&P technology sector .SPLRCT is coming off its second straight weekly decline, triggered by fears of stretched valuations and investors moving money to other sectors. Tech stocks have led the S&P 500's 9.4 perce...

19 Jun 5:19 PM 0 Read More...

Stock futures higher as beaten down tech stocks rebound

U.S. stock index futures were higher on Monday with investors snapping up beaten down technology and retail stocks.The S&P technology sector .SPLRCT is coming off its second straight week of declines, triggered mainly due to stretched valuations and investors moving money to other sectors. Tech stocks have led the S&P 500's 8.7 percent rally this year.Leading the rebound, Apple (AAPL.O), Microsoft (MSFT.O...

19 Jun 12:14 PM 0 Read More...

U.S. bank investors hope Fed stress test results lead to big payouts

Investors are hoping the Federal Reserve will allow big U.S. banks to put an estimated $150 billion in idle capital toward stock buybacks, dividends and profit-boosting investments in the coming weeks after conducting a regular examination of financial strength.On Thursday, the Fed is scheduled to begin releasing results from its two-part annual stress test, which was adopted in response to the financial crisis, ...

19 Jun 12:14 PM 0 Read More...

Oil prices pause after sharp falls

LONDON Oil prices edged higher on Monday, pausing for breath after coming under pressure over the past month from rising production in the United States, Libya and Nigeria, which has taken the edge off an OPEC-led initiative to support the market by cutting production. Brent crude futures LCOc1 were trading 17 cents higher at $47.54 per barrel by 1015 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 wer...

19 Jun 12:14 PM 0 Read More...

Silicon Valley giants outrank many nations, says first ‘techplomat’

19 Jun, 2017 EngageNewswire.com is a high ranking blog, press release and news publishing website. We publish content from trusted sources. COPENHAGEN The top firms in California’s Silicon Valley carry more weight on the global stage than many countries, which makes building diplomatic relations with them increasingly i...

19 Jun 12:14 PM 0 Read More...