Business News
Federal Reserve fines Citigroup $8.6 million for faulty mortgage document practices
The Federal Reserve said Friday it had fined Citigroup $8.6 million over shoddy mortgage documentation practices at a subsidiary.
Month: August 2018
Business News
U.S. inflation pressures rise in July; Fed on track to lift rates
U.S. consumer prices rose in July and the underlying trend continued to strengthen, pointing to a steady increase in inflation pressures that keeps the Federal Reserve on track to gradually raise interest rates.
Trading Ideas
Tesla board says Musk not sharing details on go-private deal: Rpt.
Tesla’s board is reportedly talking about Elon Musk’s proposal to go private, but say they haven’t gotten any details on the deal. Yahoo Finance’s Alexis Christoforous and Rick Newman have more. …read more […]
Trading Ideas
Turkey turmoil spills over to Wall Street, shaves 200 points off Dow
President Donald Trump doubled tariffs on aluminum and steel imports from Turkey, deepening the currency’s losses and raising concerns that the crisis could weigh on other economies. “Problems in emerging markets are more important than ever because of the global growth engine that emerging markets have become,” Peter Cecchini, chief market strategist at Cantor Fitzgerald in New York, wrote in a note. Anytime there’s a sniff of contagion they will be weak,” said Michael Antonelli, managing director, institutional sales trading at Robert W. Baird in Milwaukee. …read more […]
Business News
Turkey turmoil spills over to Wall St., shaves 200 points off Dow
The Dow Jones Industrial Average fell more than 200 points on Friday amid a widespread selloff in global stocks as the Turkish lira tumbled due to concerns over the country’s economy and a deepening rift with the United States.
Trading Ideas
Trump doubles tariffs on Turkish steel and aluminum, says relations ‘not good’
U.S. President Donald Trump said on Friday he had authorized higher tariffs on imports from Turkey, imposing a 20 percent duty on aluminum and 50 percent one on steel, as tensions mount between the two NATO allies over Ankara’s detention of an evangelical pastor and other diplomatic issues. “I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!” Trump said in an early morning post on Twitter. Trump’s announcement came less than an hour after Turkish President Tayyip …read more […]
Business News
Wall St. slips at open on Turkey turmoil
U.S. stocks opened lower on Friday as a plunging Turkish lira rattled global markets due to concerns over the country’s economy and a deepening rift with the United States.
Trading Ideas
Turkey's currency takes 20% dive to fresh all-time low after Trump tweets new tariff rate
The Turkish lira fell as much as 20% versus the dollar Friday. Trump said he would double the steel and aluminum tariff rate for Turkey. President Recep Tayyip Erdogan called on citizens to convert other currencies and gold into lira. …read more […]
Trading Ideas
Ralph Lauren, Wynn Resorts, Chemours, Pulte, Michaels, General Motors and General Electric highlighted as Zacks Bull and Bear of the Day
Ralph Lauren, Wynn Resorts, Chemours, Pulte, Michaels, General Motors and General Electric highlighted as Zacks Bull and Bear of the Day …read more […]
Business News
Ryanair strike hits 55,000 passengers across Europe
Ryanair endured its worst one-day strike on Friday after a walk-out by pilots in five European countries disrupted the plans of an estimated 55,000 travellers with the budget airline at the height of the summer holiday season.
Business News
Wall St. set to open lower on Turkey turmoil
U.S. stocks were set to open lower on Friday, as a plunging Turkish lira rattled global markets due to concerns over the country’s economy and a deepening rift with the United States.
Business News
U.S. inflation pressures modestly rise in July; Fed on track to raise rates
U.S. consumer prices rose in July and the underlying trend continued to strengthen, pointing to a steady increase in inflation pressures that keeps the Federal Reserve on track to gradually raise interest rates.
Business News
Dish Network CFO to step down, join Brookdale Senior Living
Dish Network Corp’s chief financial officer, Steven Swain, is leaving the U.S. satellite TV provider to become the finance chief at Brookdale Senior Living .
Trading Ideas
Costco Wholesale Corporation: Another Month of Stellar Sales
Costco continues to fire on all cylinders, but the stock may be too hot to handle right now. …read more […]
Business News
Turkey turmoil sends ripples across world stock markets, euro falls
A plunge in the Turkish lira rocked global equities and emerging markets on Friday and fears of more turmoil sent investors scurrying for safety in assets like the yen and U.S. government bonds.