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Archive for the ‘Entrepreneur’ Category

Wall St. opens lower as private jobs data weighs

04 May

Traders work on the floor of the NYSEThe ADP private sector employment report showed that 156,000 jobs were added in April. The number fell way below the 196,000 jobs estimated by economists who were surveyed by Reuters. The U.S. Federal Reserve, which held monetary policy steady last week, is keeping a keen eye on data, while leaving the door open for a rate hike in June.

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New York City Casts a Net to Catch the Next Big Start-Up

03 May

A nonprofit, Tech:NYC, aims to make New York more appealing to start-ups, big tech companies and venture firms.

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Wall St. opens lower as global growth fears resurface

03 May

Traders work on the floor of the NYSEAustralia’s central bank also sprang a surprise by cutting interest rates to a record low of 1.75 percent, the first easing in a year as it seeks to restrain a rising currency and insulate the economy from creeping deflation. “The negative news out of China and Australia having to stimulate its economy again is spooking the market today,” said Peter Cardillo, chief market economist at First Standard Financial in New York. At 9:39 a.m. ET (1339 GMT) the Dow Jones industrial average was down 130.46 points, or 0.73 percent, at 17,760.7, the S&P 500 was down 14.51 points, or 0.7 percent, at 2,066.92 and the Nasdaq Composite was down 32.71 points, or 0.68 percent, at 4,784.88.

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Wall St. little changed on weak manufacturing data

02 May

A trader works on the floor of the NYSEInvestors have been keeping a sharp eye on data after the U.S. Federal Reserve held monetary policy steady last week, and gave no signals that it was in a hurry to tighten further. Wall Street closed lower on Friday, with U.S. stocks marking their largest weekly drop in more than two months as corporate earnings continued to disappoint. “I suspect for some stability to come in after the selloff in the last couple of days,” said Andre Bakhos, managing director at Louisville, Kentucky-based Janlyn Capital.

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Berkshire preliminary first-quarter operating profit falls

30 Apr

Warren Buffett walks out to tour the exhibit hall during the Berkshire Hathaway Annual Shareholders Meeting at the CenturyLink Center in Omaha, NebraskaOMAHA, Neb. (Reuters) – Warren Buffett on Saturday said preliminary first-quarter profit at his Berkshire Hathaway Inc fell about 12 percent, hurt by weaker performance in its railroad and insurance operations. Quarterly operating profit for the Omaha, Nebraska-based insurance and investment conglomerate probably fell to $3.73 billion from $4.24 billion. Net income probably rose to $5.59 billion from $5.16 billion, helped by a gain from the swap of Procter & Gamble Co stock for the Duracell battery business. Buffett said insurance underwriting suffered from hailstorm claims. …

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With weak earnings in tow, focus turns to jobs data

30 Apr

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New YorkComing off a barrage of flimsy company earnings reports that included Apple’s first revenue drop in 13 years, investors will turn to April jobs data for signs of budding resilience or further weakening in the second quarter. U.S. nonfarm payrolls, unemployment and wages data are due Friday May 6, when the economy is expected to have added 200,000 jobs in April, with the unemployment rate unchanged at 5 percent and a wage increase of 0.3 percent, according to Reuters data. Unlike in recent months, where weak jobs numbers were counted on to stave off another Federal Reserve interest rate hike, investors are now itching for better-than-expected employment data to indicate a stronger next earnings season, analysts said.

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Wall St. opens lower as investors assess earnings, data

29 Apr

Traders work on the floor of the NYSEThe Commerce Department said the personal consumption expenditures price index, excluding the volatile food and energy components, edged up 0.1 percent last month after an upwardly revised 0.2 percent increase in February. At 9:38 a.m. ET (1338 GMT) the Dow Jones industrial average was down 52.53 points, or 0.29 percent, at 17,778.23, the S&P 500 was down 3.91 points, or 0.19 percent, at 2,071.9 and the Nasdaq Composite was down 0.50 points, or 0.01 percent, at 4,804.79. Stock markets around the world were in the red – with the yen rallying to an 18-month high, signaling a broader risk aversion among investors – a day after the Bank of Japan’s call to cap monetary stimulus rattled investors.

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U.S. economy stalls in first quarter as activity weakens broadly

28 Apr

A shopper takes part in Black Friday sales at a Target store in ChicagoBy Lucia Mutikani WASHINGTON (Reuters) – U.S. economic growth braked sharply in the first quarter to its slowest pace in two years as consumer spending softened and a strong dollar continued to undercut exports, but a pick-up in activity is anticipated given a buoyant labor market. Gross domestic product increased at a 0.5 percent annual rate, the weakest since the first quarter of 2014, the Labor Department said on Thursday in its advance estimate, also as businesses stepped up efforts to reduce unwanted merchandise clogging up warehouses.

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Wall Street opens lower after BOJ rate decision surprise

28 Apr

Traders work on the floor of the NYSEThe BOJ’s decision to hold steady in the face of soft global demand and a rise in the yen was particularly jarring for markets after media reports that the central bank wanted to go deeper into negative interest rates. The BOJ’s decision comes a day after the U.S. Federal Reserve decided to hold steady on rates and after fears eased that the Fed would signal a rise in June. While the labor market continues to gain strength, inflation remains below the central bank’s 2 percent target.

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Start-Up Airline Idles on a California Runway, Stymied by Bureaucracy

27 Apr

California Pacific Airlines has been waiting for years for Federal Aviation Administration certification. Its 95-year-old owner is getting impatient.

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