Business News

Stock futures slip on tech selloff; Yellen in focus

U.S. stock index futures were lower on Tuesday as a selloff in technology shares continued, while investors awaited clues on interest rate hikes from Federal Reserve Chair Janet Yellen's talk in London.The tech sector has been under pressure over concerns about stretched valuations, with investors shifting to high-dividend paying defensive sectors such as utilities in a rising interest rate environment.Yellen is ...

27 Jun 12:09 PM 0 Read More...

Japanese stocks edge towards two-year high, dollar firms before Yellen

TOKYO Japanese stocks edged towards two-year highs on Tuesday as exporters benefited from dollar strength, with investors expecting comments from Federal Reserve Chair Janet Yellen to support the Fed's projection for one more interest rate rise this year.Spreadbetters expected a slightly higher open for Britain's FTSE .FTSE, Germany's DAX .GDAXI and France's CAC .FCHI.Yellen is scheduled to take part in a discuss...

27 Jun 7:09 AM 0 Read More...

Charter, Comcast explore wireless partnership with Sprint: sources

U.S. wireless carrier Sprint Corp (S.N) is in talks with Charter Communications Inc (CHTR.O) and Comcast Corp (CMCSA.O) about a partnership to boost the two U.S. cable companies' wireless offerings, according to sources familiar with the matter.Sprint, controlled by Japan's SoftBank Group Corp (9984.T), has entered into a two-month period of exclusive negotiations with Charter and Comcast that has put its merger ...

27 Jun 7:09 AM 0 Read More...

Japanese stocks approach two-year high, euro sags after Draghi's comments

TOKYO Japanese stocks closed in on two-year highs early on Tuesday thanks to a weaker yen while the euro sagged against its peers after European Central Bank President Mario Draghi talked up benefits of the ECB's easy monetary policy. Japan's benchmark Nikkei .N225 advanced 0.4 percent to 20,235.79. A rise above 20,318.11, a peak scaled a week ago, would take the Nikkei to its highest since August 2015.A weaker y...

27 Jun 2:06 AM 0 Read More...

S&P 500, Dow edge up; tech weighs on Nasdaq

The S&P 500 and the Dow barely rose on Monday as gains were offset by a fall in technology stocks, which pushed the Nasdaq lower as investors turned to more defensive sectors.The slow-growing, high-dividend S&P utilities .SPLRCU and telecommunications .SPLRCL were the best performers among the 11 S&P sectors. Technology .SPLRCT was the weakest sector, with a 0.6 percent decline. The sector been under...

26 Jun 9:04 PM 0 Read More...

Wall St. pares gains as recovery in tech, oil pauses

U.S. stocks pared gains in late morning trading on Monday, as a recovery in technology stocks and oil prices stalled.Oil prices hovered near last week's seven-month lows, hemmed in by a relentless rise in U.S. supply, bloated global inventories and a surge in demand for short sale contracts that signals investors see potential for a price fall. [O/R]The S&P energy .SPNY fell 0.37 percent and was the biggest l...

26 Jun 3:59 PM 0 Read More...

Oil steadies above November lows but under threat from U.S. supply

LONDON Oil prices steadied above last week's seven-month lows on Monday, hemmed in by a relentless rise in U.S. supply, bloated global inventories and a surge in demand for short sale contracts that signal investors see potential for a price fall.Investors in U.S. crude futures and options increased their bets against a further rise in prices, as the number of U.S. oil rigs in operation hit its highest in over th...

26 Jun 3:59 PM 0 Read More...

Japanese airbag maker Takata files for bankruptcy, gets Chinese backing

TOKYO/WASHINGTON Japan's Takata Corp (7312.T), at the center of the auto industry's biggest-ever product recall, filed for bankruptcy protection in the United States and Japan, and said it had agreed to be largely acquired for $1.6 billion by the Chinese-owned U.S.-based Key Safety Systems. In the biggest bankruptcy of a Japanese manufacturer, Takata faces tens of billions of dollars in costs and liabilities r...

26 Jun 3:59 PM 0 Read More...

U.S. auto sales seen down 2 percent in June: JD Power and LMC

DETROIT U.S. auto sales in June likely fell 2 percent from a year earlier despite large discounts for consumers, presenting a fresh sign that automakers are heading into a downturn, industry consultants J.D. Power and LMC Automotive said on Monday.LMC also cut its full-year 2017 forecast for new vehicle sales for the third consecutive month, to 17.1 million units from its previous forecast of 17.2 million.June U....

26 Jun 3:59 PM 0 Read More...

U.S. activist presses for 'bold action' at Nestle

LONDON/NEW YORK U.S. activist shareholder Third Point has targeted Nestle (NESN.S) by taking a $3.5 billion stake in the food maker and urging Europe's most valuable company to boost returns as demand for its products weakens.Nestle shares jumped as much as 4.8 percent on Monday, touching a record high after Third Point disclosed its position late on Sunday in a letter on its website that urged the Swiss group t...

26 Jun 3:59 PM 0 Read More...