Asian stocks slid on Monday and the dollar stepped back from its recent highs as disappointing Chinese trade data and uncertainty over the crisis in Ukraine kept risk appetite in check. Investors greeted the new week in Asia on a cautious note after data issued on Saturday showed China's exports unexpectedly tumbled in February, swinging the trade balance into deficit and adding to fears of a slowdown in the world's second-largest economy. The soft Chinese data put a damper on risk sentiment, which had been temporarily boosted by stronger-than-expected U.S. nonfarm payrolls out on Friday showing employers had added 175,000 jobs to their payrolls last month, up from 129,000 new positions in January. "While non-farm payrolls surprised significantly to the upside on Friday, disappointing China data, escalating Russia/Ukraine concerns and the missing Malaysian aircraft have all contributed to a somber mood," IG market strategist Stan Shamu wrote in a note to clients.
Hedge fund manager William Ackman, who is betting $1.16 billion that Herbalife is a fraud, spent $264,000 last year on lobbyists to press his case against the company, according to government documents filed in recent weeks. That amount is dwarfed by the nearly $2 million Herbalife spent in 2013 on federal lobbying as the nutrition and weight loss company fought the billionaire investor's claims it runs a pyramid scheme. In October Ibarra Strategy Group began working for Pershing Square and earned $30,000 for the year, the filingshows. The group, founded by Mickey Ibarra, a former Director of Intergovernmental Affairs under President Bill Clinton, specializes in Latino outreach.
Five years ago, the United States was in the midst of its worst recession in seven decades, and stocks were feeling it. On this day in 2009, the S&P 500 hit its nadir, closing at 676.53. That low marked a climax of a 16-month selloff that took more than half the S&P 500's value. Naturally, some investors are questioning whether the bull run is nearing an end.
The euro is hitting two-year highs against the US dollar. What does that mean for the dollar and what can we expect ahead?
There’s something very wrong at the Gap and it has nothing to do with the weather. After a remarkable five year run the San Francisco retailer is running out of steam just as the competition starts to get its act together.
"Pimco is being undermined by Bill Gross himself, by being all chitty-chatty," says Breakout host Jeff Macke.
Why you might still be poor on the five-year anniversary of the bull market.
Russia said on Friday any U.S. sanctions imposed against Moscow over the crisis in Ukraine would boomerang back on the United States, raising the financial stakes as the military standoff intensified.
WASHINGTON (Reuters) - U.S. consumer credit grew in January but was held back by a contraction in credit card usage that could be a negative sign for the economy. Total consumer credit rose by $13.7 billion to $3.1 trillion, the Federal Reserve said on Friday. Economists polled by Reuters had expected consumer credit to rise by $14 billion in January. Revolving credit, which mostly measures credit-card use, fell by $226 million during the month. Revolving credit figures can be volatile. ...
In some ways, the president is beginning to seem as cynical as his critics.
Safeway announced that it will merge with private equity firm Cerberus Capital Management LP's Albertsons.
The U.S. economy added 175,000 jobs in February, alleviating concerns about the labor market. But there's something for everyone in Friday's data and NYT's reporter Steve Greenhouse says it's premature to break out the confetti.
NEW YORK (AP) — Stocks were directionless in late-afternoon trading Friday as tensions built in Ukraine, where the region of Crimea was preparing for a referendum on whether to split away and become part of Russia. Those concerns offset an encouraging pickup in hiring by U.S. employers last month.
Russian Foreign Minister Sergei Lavrov on Friday warned US Secretary of State John Kerry against Washington taking "hasty" action or imposing sanctions over Ukraine, in what has escalated into the biggest East-West crisis since the Cold War. In a telephone call, the two men followed up on their talks in Paris and Rome that had failed to lead to an agreement on how to resolve the situation in Ukraine, where Russian troops have taken effective control of Crimea. The two diplomatic chiefs "agreed to continue looking at the problems of the sharp political crisis that has seized this country," the Russian foreign ministry said in a statement on its website. The US State Department confirmed that Kerry had spoken with Lavrov Friday from his plane.
Today's trending ticker, FireEye, is getting hit after announcing a new share offering
MOSCOW (AP) — Russia was swept up in patriotic fervor Friday in anticipation of bringing Crimea back into its territory, with tens of thousands of people thronging Red Square chanting "Crimea is Russia!" as a parliamentary leader declared the peninsula would be welcomed as an "equal subject" of Russia.
In a bizarre story that seems like the plot of a 90s cyber thriller, a reclusive 64-year-old Japanese-American thought to be the founder of bitcoin led reporters on a high-speed car chase through Los Angeles yesterday.
"Our pesident can talk about focusing on these issues, but there's really nothing he can do on a large scale without Congress," says Jill Lawrence, columnist for The Daily Beast.
Michael Dudas, Precious Metals and Mining Analyst at Sterne Agee, says there are several reasons gold is moving higher.
David Lutz of Stifel Nicolaus breaks down the prospects of the domestic energy trade
In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world's fourth-largest commodity trader with revenue topping $100 billion last year. Now Dunand, 52, and Jaeggi, 53, are executing a plan to propel Geneva-based Mercuria Energy Group Ltd. nearer to the top independent traders, Glencore Xstrata Plc, Trafigura Beheer BV and Vitol Group. After entering exclusive talks last month to buy JPMorgan Chase & Co.'s $3.3 billion commodities unit, Dunand and Jaeggi will probably announce a deal within the next week, according to two people with knowledge of the situation. Mercuria, named for the Roman god of trade, is targeting a JPMorgan business that includes energy trading and storage assets in North America, where a boom in shale oil and natural gas has transformed the flow of commodities worldwide.
Dorian Prentice Satoshi Nakamoto said Thursday that he is not the creator of bitcoin, adding further mystery to the story of how the world's most popular digital currency came to be. The denial came after ...
Proponents and critics of Keystone XL are unleashing a final flurry of pleas to persuade the government on the pipeline, which has become a flash point in a debate over energy development versus climate protection. The public has until the end of today to be part of the official review of whether Keystone is in the national interest. After that Secretary of State John Kerry will weigh in and President Barack Obama will decide whether to approve or scrap the long-delayed $5.4 billion plan by TransCanada Corp. to bring fuel from Alberta's oil sands to Gulf Coast refineries. Foes said the project would worsen climate change by promoting development of Alberta's oil sands.
China's Baidu Inc, the country's biggest search engine, has formed a partnership to apply for a private banking license, Robin Li, Baidu's chief executive, said on the sidelines of China's annual parliament ...
“This number is only good because people were hunkered down for the worst with weather,” says Jim Paulsen, chief investment strategist at Wells Capital Management.
Safeway has agreed to be acquired by an investment group led by Cerberus Capital Management, the owner several supermarket chains. The acquisition is worth about $7.64 billion in cash, and pending other ...
World stock markets were muted Friday as investors turned cautious ahead of the release of a key U.S. employment report and Chinese economic indicators. Japan's Nikkei 225 stock average gained 0.9 percent ...
Costco stumbles on earnings as Staples slides on store closures; Jeff Macke digs into the numbers
You can’t please all of the people all of the time but the folks at Olive Garden were probably hoping for better reviews when the company changed its logo.
Private sector employment increased by 139,000 in February. January's numbers were revised downward from 175,000 to 127,000.
Stocks were mostly higher Thursday after the government reported that the number of people filing for unemployment benefits fell last week to the lowest level in three months.
Gap is down 4% to $40.61 after hours.
(Reuters) - Safeway Inc , the second-largest U.S. mainstream grocery store operator, said private equity firm Cerberus Capital Management would acquire the company in a deal valued at about $9.4 billion. The offer price of $40 per share represents a premium of 1.3 percent to Safeway's Thursday closing stock price of $39.47 on the New York Stock Exchange. The deal combines Safeway with Cerberus' Albertsons chain, creating a dominant grocery franchise on the West Coast. Safeway shareholders will receive $32.50 per share in cash plus other distributions with a value of $3.65 per share.
The wealthy have recovered nearly everything from before the recession. The rest of us haven't.
The market is talking and what it's saying is that it values growth over financial chicanery. Buybacks and dividends are nice but when money is cheap it’s time to invest in growth, not hoard capital.
According to Bitcoin lore, the cryptocurrency got its humble beginnings in a white paper called “Bitcoin: A Peer-to-Peer Electronic Cash System” written by a man calling himself Satoshi Nakamoto. For years, though, no one knew Nakamoto’s actual whereabouts or even if he really existed at all… until now. Newsweek has done some impressive detective work and has tracked down whom it claims to be the real Nakamoto at his home in Temple City, California. Nakamoto comes across as somewhat reclusive and more than a little paranoid. The first thing he did when Newsweek reporter Leah McGrath Goodman approached his house was to call the local police department. He is also incredibly reluctant to talk about Bitcoin even though he tacitly
The stock market bulls have had the upper hand on the bears for nearly five years, and they may be just getting started.
We are strongly encouraged by the results published yesterday of an investor survey conducted by Bernstein Research regarding our campaign to prove to eBay’s board of directors that stockholders are in favor of separating PayPal from the company. A majority of eBay owners responding to the survey said they believe that the composition of the board should change.
Warnings about Shanghai Chaori Solar missing a $14.7 million debt payment should be taken with a grain of salt. But that doesn't mean there aren't risks in China's $1.4 trillion credit market.
We tend to focus on Washington as the alpha and the omega of our society, but we probably pay too much attention to government than government itself warrants, says Zachary Karabell, head of global strategy at Envestnet.