Business News

Wall Street rises on report of U.S. considering end to China tariffs

NEW YORK (Reuters) - U.S. stocks advanced on Thursday as a published report that the United States was considering lifting tariffs on Chinese imports lifted investor sentiment. U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan. 30, the Wall Street Journal reported on Thursday, citi...

17 Jan 8:39 PM 0 Read More...

Walmart partners with four more grocery delivery companies

NEW YORK (Reuters) - Walmart Inc (WMT.N) said on Thursday it has partnered with another four companies as part of its goal of offering grocery home delivery in more than 100 U.S. cities. Walmart’s new partners are Point Pickup, which offers recurring same-day deliveries, and one-hour delivery company Skipcart, which uses crowdsourced labor. It has also partnered with same-day shipping firm AxleHire and Roadie, whic...

17 Jan 8:39 PM 0 Read More...

Hitachi debacle strengthens Franco-Chinese hand in UK nuclear

PARIS (Reuters) - Hitachi’s decision to freeze its $28 billion nuclear power project in Britain strengthens the hand of France’s EDF (EDF.PA) and its Chinese partner in talks with the government on how to finance new reactors. Funding new nuclear plants has become critical as Hitachi became the second Japanese firm to say its British nuclear power project had hit the buffers over financing. The two projects would...

17 Jan 8:39 PM 0 Read More...

U.S. stocks edge up on defense, healthcare gains; pound firms

NEW YORK (Reuters) - Gains in defense shares as well as healthcare helped to keep U.S. stocks in positive territory on Thursday, while an end to the latest chapter in Britain’s exit from the European Union, Prime Minister Theresa May’s defeat of a confidence vote, lifted sterling. S&P 500 industrials .SPLRCI rose, led by defense contractors Lockheed Martin (LMT.N) and Northrop Grumman (NOC.N), after U.S. Pres...

17 Jan 8:39 PM 0 Read More...

Hitachi halts UK nuclear project as energy supply crunch looms

LONDON/TOKYO (Reuters) - Japan’s Hitachi Ltd (6501.T) put a $28 billion nuclear power project in Britain on hold on Thursday, dealing a blow to the country’s plans for the replacement of aging plants. Hitachi’s UK unit Horizon Nuclear Power failed to find private investors for its plan to build a plant at Wylfa in Anglesey, Wales, which was expected to provide about 6 percent of Britain’s electricity. “We...

17 Jan 3:34 PM 0 Read More...

Banks turn stocks red, pound finds some peace

LONDON (Reuters) - Concern over China’s economic outlook and possible U.S. tariffs on European cars dragged stocks lower on Thursday, while an anti-climactic end to the latest chapter in the Brexit saga offered sterling a moment’s peace. Fresh big market-moving news was thinner on the ground for most of the European session, but dealers had more than enough to digest from the previous 24 hours to ensure most of t...

17 Jan 3:34 PM 0 Read More...

Wall Street slips at open after Morgan Stanley results

(Reuters) - U.S. stocks dipped at open on Thursday, retreating from one-month highs, hit by losses in financial stocks after Morgan Stanley’s weak results and energy shares hurt by a drop in oil prices. The Dow Jones Industrial Average .DJI fell 60.07 points, or 0.25 percent, at the open to 24,147.09. The S&P 500 .SPX opened lower by 6.82 points, or 0.26 percent, at 2,609.28. The Nasdaq Composite .IXIC drop...

17 Jan 3:34 PM 0 Read More...

Shutdown is starting to hurt Trump's financial deregulation agenda

WASHINGTON (Reuters) - The U.S. government shutdown over President Donald Trump’s call for Congress to fund a wall he promised to build on the U.S.- Mexican border is threatening another campaign pledge to make rules easier to navigate for banks and corporations. The partial shutdown, sparked by a standoff between Democrats and Republicans over how to address Trump’s demand, is already the longest ever, entering...

17 Jan 3:34 PM 0 Read More...

Factbox: Some rule changes now on go-slow due to U.S. shutdown

WASHINGTON (Reuters) - The ongoing federal government shutdown is impeding efforts to advance several rule changes that aim to make life easier for financial institutions. Here are some projects stuck in regulatory limbo: “VOLCKER RULE” OVERHAUL Last year, the two markets regulators and three banking regulators agreed to review the “Volcker Rule”, a post-crisis rule barring banks from proprietary trading. The...

17 Jan 3:34 PM 0 Read More...

Stocks turn red, pound finds some peace

LONDON (Reuters) - Concern over China’s economic outlook and possible U.S. tariffs on European cars dragged stocks lower on Thursday, while an anti-climactic end to the latest chapter in the Brexit saga offered sterling a moment’s peace. Fresh news was thin as European trading got underway, but traders had more than enough to digest from last 24 hours to follow Asia’s overnight dip into the red. Carmakers fell...

17 Jan 10:30 AM 0 Read More...