Business News

Bitcoin surges above $15,000 after climbing $2,000 in 12 hours

LONDON (Reuters) - Bitcoin rocketed above $15,000 for the first time on Thursday, after adding more than $2,000 to its price in fewer than 12 hours. Bitcoin, the world’s biggest and best-known cryptocurrency, has seen a more than fifteenfold surge in its value since the start of the year. It climbed to as high as $15,344 on the Luxembourg-based Bitstamp exchange around 1420 GMT, leaving it up more than 12 per...

07 Dec 3:24 PM 0 Read More...

Tech gains lift Nasdaq; consumer stocks weigh on S&P, Dow

(Reuters) - Gains in technology stocks helped lift the Nasdaq on Thursday, while the S&P 500 and the Dow were weighed down by losses in consumer stocks. Broadcom (AVGO.O) rose 3.2 percent after the chipmaker reported upbeat profit and boosted its dividend by 72 percent. Lululemon Athletica (LULU.O) gained 7.8 percent after the Canadian yoga and leisure apparel maker reported a higher-than-expected profit and gav...

07 Dec 3:24 PM 0 Read More...

Alibaba, Ford to cooperate in search for new retail opportunities

BEIJING/SHANGHAI (Reuters) - Alibaba Group Holding Ltd (BABA.N) has signed a deal with Ford Motor Co (F.N) to explore cooperation in areas such as cloud computing, connectivity and retail which could involve the sale of Ford cars on Alibaba’s online retail platform Tmall. Alibaba in a statement on Thursday said digital marketing-focused Alimama and operating system firm AliOS would be among subsidiaries working wit...

07 Dec 3:24 PM 0 Read More...

Tech recovers, but not enough to push Wall St. higher

(Reuters) - The S&P 500 fell a tiny bit on Wednesday, with Microsoft and other technology stocks making modest gains but not quite offsetting losses in energy shares after oil prices dropped more than 2 percent. It was the index’s fourth straight negative session, the first such streak since March, underscoring investor uncertainty as U.S. Senate Republicans attempt to reconcile their version of a tax-cut bill ...

07 Dec 12:19 AM 0 Read More...

Bitcoin zooms above $13,000 to record high on relentless demand

TOKYO/NEW YORK (Reuters) - Bitcoin extended its rally on Wednesday, breaking above $13,000 to a record high despite questions about the cryptocurrency’s real value and worries about a dangerous bubble. Bitcoin received a boost after Friday’s announcement by the main U.S. derivatives regulator that it would allow CME Group Inc and CBOE Global Markets to list bitcoin futures contracts. The move opens the door to ad...

07 Dec 12:19 AM 0 Read More...

Wall Street flat; rise in tech stocks offsets energy lag

(Reuters) - Wall Street’s main indexes were little changed on Wednesday, with technology stocks clinging on to modest gains and helping offset losses in energy shares after oil prices slipped more than 2 percent. Shares of Microsoft (MSFT.O), Facebook (FB.O) and Google parent Alphabet (GOOGL.O) rose more than 1 percent. Investors are evaluating the details of the new tax code as the Senate Republicans attempt to r...

06 Dec 7:17 PM 0 Read More...

Britain pushes back date for provisional findings on Sky-Fox deal

LONDON (Reuters) - Britain’s competition watchdog will give its initial verdict on Rupert Murdoch’s bid to buy Sky (SKYB.L) next month, later than expected, due to the vast number of responses it has received on the deal. Murdoch’s $15 billion bid to buy the 61 percent of Sky it does not already own is being watched closely in the United States where Walt Disney Co (DIS.N) is in the lead to acquire much of his ...

06 Dec 7:17 PM 0 Read More...

Bitcoin surges above $12,000 to record high on relentless demand

TOKYO (Reuters) - Bitcoin extended its eye-popping rally on Wednesday, breaking above $12,000 to a record high despite questions about the cryptocurrency’s real value and worries about a dangerous bubble. Bitcoin received a boost after Friday’s announcement by the main U.S. derivatives regulator that it would allow CME Group Inc and CBOE Global Markets to list bitcoin futures contracts. The move opens the door ...

06 Dec 7:17 PM 0 Read More...

Home Depot sets $15 billion share buyback, investment plan

(Reuters) - Home Depot Inc (HD.N) announced a $15 billion share buyback plan on Wednesday and said it would invest in improving its stores to hit a $120 billion annual sales target in the next three years. The retailer’s shares fell 1.4 percent to $180.22 on the New York Stock Exchange as its latest buyback target pointed to a slowdown in the pace of repurchases. The largest U.S. home improvement store chain said i...

06 Dec 7:17 PM 0 Read More...

U.S. Comptroller halts plan to remove in-house bank examiners

WASHINGTON (Reuters) - Bank examiners can continue working inside the banks they supervise, U.S. Comptroller of the Currency Joseph Otting said on Wednesday, in a policy reversal for the U.S. banking regulator. Otting said he was stopping a project begun by his predecessor to move examiners out of large institutions like JPMorgan Chase(JPM.N) and Bank of America(BAC.N), citing costs of independent real estate. In a s...

06 Dec 7:17 PM 0 Read More...