Category: Latest News
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Wall Street veterans say rate-hike past is not prologue for markets
By Trevor Hunnicutt NEW YORK (Reuters) – It has only been six years since the U.S. stock market rout brought on by the financial crisis, but as far as Deena Katz's clients are concerned, that might as well be ancient history. “People have a thirty-second memory,” said Katz, 65, co-chairman at Evensky & Katz/Foldes Financial…
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Yahoo will not spin off Alibaba stake, weighs core business sale: CNBC
SAN FRANCISCO/BENGALURU (Reuters) – Yahoo Inc is weighing a sale of its core Internet business and will not sell its stake in Chinese e-commerce firm Alibaba Group Holding Ltd , CNBC reported, with an announcement coming as soon Wednesday. The moves represent a stark rejection of Chief Executive Officer Marissa Mayer's plan to sell the…
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Yum CFO to leave in February, amid China spinoff
LOS ANGELES (Reuters) – Yum Brands Inc Chief Financial Officer Patrick Grismer will resign effective Feb. 19, the parent of the KFC, Taco Bell and Pizza Hut restaurant brands said on Monday.
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Yahoo board in final talks on future of company
By Deborah M. Todd SAN FRANCISCO (Reuters) – Yahoo Inc's board of directors on Friday is in the third and final day of meetings that could decide the future of one of Silicon Valley's most prominent but troubled companies. One option on the table for the nine board members is whether to sell Yahoo's core…
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Yahoo shares rise as board meets and considers sale of Web business
Plans by Yahoo Inc's board to consider selling its struggling Internet business sent the company's shares up nearly 6 percent on Wednesday, as investors cheered a potential new way to separate Yahoo's traditional services from its valuable investment in Chinese Web merchant Alibaba. Yahoo's board is weighing the sale of the Internet business at a…
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Yahoo shares rise as board meets and considers sale of Web business
Plans by Yahoo Inc's board to consider selling its struggling Internet business sent the company's shares up nearly 6 percent on Wednesday, as investors cheered a potential new way to separate Yahoo's traditional services from its valuable investment in Chinese Web merchant Alibaba. Yahoo's board is weighing the sale of the Internet business at a…
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Wall Street pares gains after weak manufacturing data
The Institute for Supply Management (ISM) said its index of national factory activity fell to 48.6, the first time the index went below 50 since November 2012. A reading below 50 indicates contraction in the manufacturing sector. Chicago Fed President Charles Evans is scheduled to speak at an event at 12:45 p.m. ET.
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WTO talks stuck again as ministers prepare to meet, Azevedo says
By Tom Miles GENEVA (Reuters) – World trade talks are deadlocked and ministers are unlikely to find a way out of the impasse when they meet in Nairobi next month, World Trade Organization Director-General Roberto Azevedo said on Thursday. “We clearly are stuck in the negotiations at this point in time,” Azevedo told a news…
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White House threatens veto of rule-based monetary policy bill
By Jason Lange WASHINGTON (Reuters) – The White House on Tuesday issued a veto threat for a Republican-backed bill to make the Federal Reserve set interest rate policy using a mathematical rule, a proposal Fed Chair Janet Yellen said would “severely damage” the U.S. economy. The Obama administration opposes the proposal because it would hinder…
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Weak retail sales suggest moderate fourth-quarter economic growth
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales rose less than expected in October amid a surprise decline in automobile purchases, suggesting a slowdown in consumer spending that could temper expectations of a strong pickup in fourth-quarter economic growth. “The weak reports will provide some cause for caution at the Fed, and while they…