Author: creative
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Wall Street rallies for third day as Brexit bruises fade
In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain's economy over the summer. “We’re reversing the 'Brexit' as it becomes evident that it was more of a political vote and decision than an economic decision,” said…
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Yahoo hires investment bank to sell about 3,000 patents: WSJ
The company has sent letters to a number of potential buyers for the patents, which date back to when the company was founded in 1996 and also include its original search technology, the report said. The deadline for bids for the patents has been set for mid-June by Yahoo, according to the Wall Street Journal.…
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Wall Street puts finishing touch on best week since March
(Reuters) – Wall Street rose on Friday and capped off its strongest week since March after U.S. Federal Reserve Chair Janet Yellen said an interest-rate hike would likely be appropriate “in the coming months.”
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Yellen says Fed rate hike likely appropriate in coming months
The Federal Reserve should raise interest rates “in the coming months” if the economy picks up as expected and jobs continue to be generated, U.S. central bank chief Janet Yellen said on Friday, bolstering the case for a rate increase in June or July. “It's appropriate … for the Fed to gradually and cautiously increase…
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Wall Street values Tesla Motors at $620,000 per car
Company founder and CEO Elon Musk may not mention Tesla Motors Inc's stock price when his electric car company gives its latest financial update on Wednesday, but it will be front and center for investors divided over its seemingly rich valuation. After a rally that ended in April, Tesla's market capitalization is currently about $31…
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Yen spikes to 18-month peak, Amazon softens Apple blow
The yen surged to an 18-month peak on Friday as investors wagered the Bank of Japan might be done adding fresh stimulus to the economy, hurting prospects for Japanese exporters with a move that rippled through share markets across the Asian region. Perhaps taking advantage of Japan's absence for a holiday, speculators smashed through the…
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Wall Street rally boosted by higher oil prices
U.S. crude pared some of their gains, but were up more than 2 percent after the International Energy Agency said oil prices might have bottomed as output in the United States and other non-OPEC countries was beginning to fall quickly. Investors took a positive view of European Central Bank's new stimulus package unveiled on Thursday,…
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Warren Buffett defends 3G, touts economy in record year for Berkshire
Warren Buffett on Saturday used his annual letter to Berkshire Hathaway Inc shareholders to launch vigorous defenses of an aggressive private equity partner and a maligned mobile home unit, as his conglomerate recorded robust profits. The world's third-richest person and a revered investor, Buffett also injected himself into the contentious 2016 U.S. presidential campaign, lambasting…
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Yahoo board forms committee to explore strategic alternatives
(Reuters) – Yahoo Inc said its board formed an independent committee to explore strategic alternatives, alongside the pursuit of the reverse spinoff of its Internet business. The committee has engaged Goldman Sachs & Co Inc, J.P. Morgan and PJT Partners Inc as its financial advisers, and Cravath, Swaine & Moore LLP as its legal adviser.…