Business News
Tech rally loses steam, McDonald’s pushes Dow higher
(Reuters) – A rally in technology stocks came to a halt on Thursday, setting up the Nasdaq for its first loss in five days, while a jump in McDonald’s shares boosted the Dow.
Month: June 2018
Business News
U.S. weekly jobless claims drop as labor market picks up steam
WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to a further tightening in labor market conditions.
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The Pentagon's $928 million hypersonic weapons program is…
The Pentagon and Lockheed Martin have shared limited details about their efforts in developing hypersonic weapons. A U.S. Air Force spokesman said the service will not be making any announcements in the near future regarding its work on hypersonics. …read more […]
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2018 Ford Mustang GT Long-Term Review | We love the 5.0L V8
Improved for 2018, a wonderful thing gets even better. …read more […]
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Chinese phone maker ZTE saved from brink after deal with U.S
Under the deal, ZTE will change its board and management within 30 days, pay a $1 billion fine and put $400 million in escrow. “We will closely monitor ZTE’s behavior,” Ross said in a statement. ZTE ceased major operations in April after a seven-year ban was imposed on the company for breaking a 2017 agreement that was reached after it was caught illegally shipping goods to Iran and North Korea. …read more […]
Business News
Chinese phone maker ZTE saved from brink after deal with U.S.
(Reuters) – U.S. Commerce Secretary Wilbur Ross said on Thursday the government has reached a deal with ZTE Corp that reverses a ban on its buying parts from U.S. suppliers, allowing China’s No. 2 telecommunications equipment maker to get back into business.
Business News
Energy stocks pull Wall Street higher, tech drags
(Reuters) – The S&P 500 posted slight gains on Thursday as declines in technology companies and packaged food makers, dragged down by J.M. Smucker’s quarterly report, were offset by rising energy shares.
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How this Indiana couple stole $1.2 million from Amazon
“Their Amazon scheme was their ‘job,'” the federal government said. …read more […]
Business News
McDonald’s plans fresh round of layoffs: WSJ
(Reuters) – McDonald’s Corp is planning a new round of layoffs to further shrink its corporate structure, the Wall Street Journal reported on Thursday citing an email the company sent to all its U.S. employees, suppliers and franchisees.
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Genworth Financial (GNW) in Focus: Stock Moves 6.4% Higher
Genworth Financial (GNW) was a big mover last session, as the company saw its shares rise more than 6% on the day. …read more […]
Business News
AmTrust agrees to sweetened $2.95 billion buyout offer
(Reuters) – U.S. insurer AmTrust Financial Services Inc on Thursday agreed to be acquired by a group of investors for a sweetened $2.95 billion deal that also helped secure the support of dissenting shareholder Carl Icahn.
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AmTrust agrees to sweetened $2.95 bln buyout offer
U.S. insurer AmTrust Financial Services Inc on Thursday agreed to be acquired by a group of investors for a sweetened $2.95 billion deal that also helped secure the support of dissenting shareholder Carl Icahn. Evergreen Parent, an entity formed by AmTrust’s founding family, its chief executive officer and some private equity funds, will pay $14.75 per share in cash, up from its earlier offer of $13.50 per share, the insurer said. …read more […]
Business News
Qualcomm CEO hopes ZTE deal will clear acquisition of NXP in China
(Reuters) – Qualcomm Inc CEO Steven Mollenkopf said on Thursday he hoped an announced agreement between the United States and China on the future of ZTE Corp will pave the way for China clearing Qualcomm’s acquisition of NXP Semiconductors NV.
Business News
Google faces EU antitrust fine over Android case in July: sources
BRUSSELS (Reuters) – Google is expected to be hit with a second EU antitrust fine in mid-July for using its dominant Android mobile operating system to squeeze out rivals, three people familiar with the matter said.
Business News
GM to sell Honda advanced electric car batteries in North America
(Reuters) – General Motors Co will supply advanced batteries to Japan’s Honda Motor Co, the companies said Thursday, a move that could significantly reduce the cost of future electric vehicles at both automakers after 2020.