Business

Business

Pharma deals, shutdown pact help stocks set more records

Financial Markets

NEW YORK (AP) — Hefty gains for energy and technology companies helped U.S. stocks set more records Monday. Drugmakers announced two major deals worth about $20 billion and smaller-company stocks climbed after the Senate reached a short-term deal to end the government shutdown. Stocks were slightly...


Business

Trump sparred with Ross last year over pace of trade action

(c) 2018, Bloomberg. President Donald Trump grew frustrated with Wilbur Ross last year over the pace of trade negotiations and action against China, upset that his Commerce secretary had not done more to take on Beijing, according to a White House official. The official, who spoke on condition of...


Business

Big global oil projects are starting to get off the ground

(c) 2018, Bloomberg. The global oil industry’s backlog of big drilling projects is starting to shrink as prices improve. From production vessels tapping Brazil’s deep-water reserves to pipes connecting rigs to underwater wells in China, the number of ventures delayed since the oil crash that...


Business

Greece set to enter next bailout phase as day-after talks near

(c) 2018, Bloomberg. Greece has neared a key milestone in its financial-crisis history, as its creditors started discussing better repayment terms for its bailout loans and a smooth withdrawal of the lifeline keeping the country afloat since 2010. Euro-area finance ministers meeting in Brussels...


Business

Murdoch pushes Facebook to pay for news to guarantee quality

(c) 2018, Bloomberg. Rupert Murdoch, the media billionaire who controls the Wall Street Journal, called on Facebook to begin paying publishers fees to carry the news that its users post and share online in a sign of the print industry’s growing frustration with social media. “If Facebook wants to...


Business

Solar industry on edge as Trump weighs tariffs on panels

Trump-Tariffs on Solar

DALLAS (AP) — Solar energy is booming in the United States, but companies riding the wave fear that President Donald Trump could undercut them this week if he decides to impose new tariffs on imported solar panels. Businesses that install solar-power systems are benefiting from a glut of cheaper...


Business

Nordea imposes bitcoin ban across all of bank's departments

(c) 2018, Bloomberg. The biggest Nordic bank has told its employees not to trade bitcoin and other cryptocurrencies, in a move that may lead the European Banking Federation to review its official stance on the products. Nordea Bank AB will impose the ban from Feb. 28, after the board agreed to take...


Business

Google, Facebook target Paris as a center for AI expansion

(c) 2018, Bloomberg. Paris is gaining ground as a European hub for artificial intelligence research as Alphabet Inc.‘s Google and Facebook Inc. pledge to hire staff and invest in labs, after their top executives met with French President Emmanuel Macron. Google said it will create an AI lab...


Business

US audit overseer under scrutiny as 6 charged in KPMG leak

(c) 2018, Bloomberg. The U.S. regulator overseeing auditors was rocked by criminal charges as federal prosecutors accused three former employees of leaking inside information to KPMG so it could improve its audit results. The allegations are a major embarrassment for the Public Company Accounting...


Business

Vanguard, low-cost king, has some advice for advisers on price

(c) 2018, Bloomberg. Tim Buckley, the new chief executive of Vanguard Group, has some advice for financial advisers: Embrace the low costs that are coming for you. He should know. Vanguard has grown into the world’s second-largest money manager on the back of its low-fee strategy and is now...


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