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U.S. wholesale inventories fall in October

09 Dec

Costco warehouse shopping aisle shown in CaliforniaU.S. wholesale inventories fell as previously reported in October amid a surge in sales, supporting views that inventory investment would provide a modest boost to economic growth in the fourth quarter. The Commerce Department said on Friday that wholesale inventories decreased 0.4 percent after rising 0.1 percent in September. The department reported last month that wholesale inventories declined 0.4 percent in October.

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Internet Throws Lifeline to Family Businesses in Small Town in Italy’s South

09 Dec

How embracing the digital age, and a forward-looking mayor, helped turn a small Calabrian town into a model of innovation.

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Coke veteran Quincey to replace Kent as CEO in widely expected move

09 Dec

The Coca-Cola Company President and Chief Operating Officer James Quincey delivers a speech during a presentation in Paris(Reuters) – Coca-Cola Co said Muhtar Kent would step aside as chief executive in May, after nine years at the helm, and be replaced by company veteran James Quincey, a widely anticipated move that comes as it tries to reduce dependence on its mainstay sugary carbonated drinks. Kent, 64, will continue as chairman of Coca-Cola’s board, the company said. Quincey, 51, joined Coke in 1996 and became chief operating officer in August 2015.

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Dow hits record high at open

08 Dec

Traders work on the floor of the NYSE(Reuters) – The Dow inched up to hit a record high at the open on Thursday, helped by gains in financial and energy stocks. The Dow Jones Industrial Average was down 8.02 points, or 0.04 percent, at 19,541.6, the S&P 500 was down 2.23 points, or 0.1 percent, at 2,239.12 and the Nasdaq composite was down 2.54 points, or 0.05 percent, at 5,391.22. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D’Silva)

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Wall Street flat as investors test post-election rally

07 Dec

Traders work on the floor of the NYSE(Reuters) – Wall Street was little changed on Wednesday as investors assessed whether a post-election rally, which powered the major indexes to a series of record highs in the past month, had more room to run.

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Wall Street lower as oil snaps four-day rally

06 Dec

Traders work on the floor of the NYSEBrent crude prices fell 2.5 percent, the first decline in five days, after data showed an increase in output from major producers, just days after OPEC and Russia agreed to a production cut. Oil prices had risen more than 18 percent since last Wednesday when the producers agreed to limit output. U.S. stocks have climbed since the Nov. 8 election, driven by expectations of significant economic stimulus and cuts in corporate taxes and regulations under President-elect Donald Trump.

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How Entrepreneurs Can Make Peace With Undiversified Investments

06 Dec

Knowing there’s a return on investment that doesn’t fit neatly on a spreadsheet can help ease the stress.

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U.S. trade gap widens as exports of soybeans, other goods fall

06 Dec

Shipping containers sit at the ports of Los Angeles and Long BeachThe U.S. trade deficit recorded its biggest increase in more than 1-1/2 years in October as exports of soybeans and other goods dropped, suggesting that trade would be a drag on growth in the fourth quarter. Exports contributed 0.87 percentage point to the third quarter’s 3.2 percent annualized rate of increase in gross domestic product. The jump in exports in the last quarter largely reflected a surge in soybean shipments after a poor harvest in Argentina and Brazil.

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Dow opens at record high led by oil, bank stocks

05 Dec

Traders work on the floor of the NYSE in New York City(Reuters) – The Dow hit an all-time high on Monday, adding to a post-election rally, supported by gains in bank stocks and energy companies, which benefited from higher oil prices.

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Fed official stands by Wall Street reforms, says must complete work

04 Dec

New York Fed President William Dudley takes part in a panel convened to speak about the health of the U.S. economy in New YorkThe United States “absolutely must” complete unfinished work ending the too-big-to-fail bank problem that helped plunge the global economy into recession eight years ago, an influential Federal Reserve policymaker said on Saturday. Dudley’s comments, to a Group of 30 meeting of top world regulators, came a day after another powerful regulator at the U.S. central bank, Daniel Tarullo, also warned against “backsliding” after years of implementing the landmark 2010 Dodd-Frank financial-reform law. Challenges especially remain in regulators safely and smoothly handling the hypothetical failure of a massive bank with operations in multiple jurisdictions, Dudley said.

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