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Wall Street set to bounce after turbulent week

6 hours ago DieselGasoil Comments Off on Wall Street set to bounce after turbulent week
(Reuters) – Hopes of more official stimulus for the economy and the easing of a bond market rally put Wall Street on track to open sharply higher on Friday, as a bruising week for markets drew to a close. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New Read More

Futures climb on stimulus hopes, Nvidia results

7 hours ago DieselGasoil Comments Off on Futures climb on stimulus hopes, Nvidia results
(Reuters) – U.S. stock index futures rose 1% on Friday, as hopes of more stimulus from central banks helped lift some gloom in what has been a turbulent week for markets. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 14, 2019. REUTERS/Eduardo Munoz The Read More

Invesco thrives in China as former executive Ross leads Trump’s trade war

10 hours ago DieselGasoil Comments Off on Invesco thrives in China as former executive Ross leads Trump’s trade war
BOSTON (Reuters) – The former investment company of U.S. Commerce Secretary Wilbur Ross has been flourishing in China, even as he marshals billions of dollars’ worth of punishing tariffs in America’s deepening trade war. FILE PHOTO: U.S. Commerce Secretary Wilbur Ross speaks during a 17th Latin American Leadership Forum in Brasilia, Brazil August 1, 2019. Read More

Buffett’s Berkshire boosts Amazon.com bet, attracts Ackman

2 days ago DieselGasoil Comments Off on Buffett’s Berkshire boosts Amazon.com bet, attracts Ackman
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Wednesday said it boosted its stake in Amazon.com Inc (AMZN.O) by 11% during the second quarter, increasing its bet on the powerful online retailer even as stocks traded near record highs. FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc, plays bridge as part of the Read More

Recession fears hit Wall Street after grim China, German data

2 days ago DieselGasoil Comments Off on Recession fears hit Wall Street after grim China, German data
(Reuters) – Wall Street was set to open lower on Wednesday, as poor economic data from China and Germany put the focus back on the impact of a bruising Sino-U.S. trade war which is pushing some major economies toward the brink of recession. FILE PHOTO: Traders work on the floor at the New York Stock Read More

Fidelity battles IRS in court over coal tax credits

3 days ago DieselGasoil Comments Off on Fidelity battles IRS in court over coal tax credits
FILE PHOTO: A sign marks a Fidelity Investments office in Boston, Massachusetts, U.S. September 21, 2016. REUTERS/Brian Snyder BOSTON (Reuters) – Fidelity Investments’ courtroom battle with the IRS over disallowed tax credits drew to a close on Tuesday when lawyers clashed over whether the mutual fund giant was a bonafide partner in the production of Read More

U.S. regulators to drop accounting test in ‘Volcker’ rewrite: sources

3 days ago DieselGasoil Comments Off on U.S. regulators to drop accounting test in ‘Volcker’ rewrite: sources
WASHINGTON (Reuters) – U.S. regulators have circulated a new draft of the “Volcker Rule” that would further ease its requirements and scrap a proposed new test that had been met with fierce resistance from Wall Street, according to two people with knowledge of the matter. FILE PHOTO: The Federal Reserve Board building on Constitution Avenue Read More

U.S. inflation picking up; Fed rate cut still expected

3 days ago DieselGasoil Comments Off on U.S. inflation picking up; Fed rate cut still expected
WASHINGTON (Reuters) – U.S. consumer prices increased broadly in July, but the signs of an acceleration in inflation will likely do little to change market expectations that the Federal Reserve will cut interest rates again next month amid worsening trade tensions. FILE PHOTO: People shop at Macy’s Department store in New York City, U.S., March Read More

Tame U.S. producer inflation supports case for another rate cut

1 week ago DieselGasoil Comments Off on Tame U.S. producer inflation supports case for another rate cut
WASHINGTON (Reuters) – U.S. producer prices increased moderately in July, lifted by a rebound in the cost of energy products, while underlying producer inflation retreated, which could allow the Federal Reserve to cut interest rates again next month. FILE PHOTO: An assembly line worker works on the production line at Renegade RV manufacturing plant in Read More

Coal being replaced by natural gas to generate electricity

1 week ago DieselGasoil Comments Off on Coal being replaced by natural gas to generate electricity
By Matthew Bristow on 8/9/2019 BOGOTA (Bloomberg) — Most CEOs paint a rosy picture when they talk about their companies’ prospects. Not Guillermo Fonseca. The CEO of Colombian coal giant Cerrejon—jointly owned by BHP Group, Glencore and Anglo American—isn’t sugar-coating anything. The industry, he says, is in terminal decline, and the company is suffering. Prices Read More