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Archive for the ‘Entrepreneur’ Category

U.S. durable goods orders surge; weekly jobless claims fall

26 May

A Boeing 737 MAX plane is seen during a media tour of the Boeing plant in Renton, WashingtonOrders for long-lasting U.S. manufactured goods surged in April on strong demand for transportation equipment and a range of other products, but continued weakness in business spending plans suggested the manufacturing rout was far from over. Other data on Thursday showed new applications for unemployment benefits fell more than expected last week, indicating the economy was gaining momentum after growth braked sharply in the first quarter. The Commerce Department said orders for durable goods, items ranging from toasters to aircraft meant to last three years or more, jumped 3.4 percent last month after increasing 1.9 percent in March.

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Wall Street rallies as higher oil boosts energy stocks

25 May

Traders work on the floor of the NYSE in New YorkAt 9:36 a.m. ET (1336 GMT) the Dow Jones industrial average was up 93.58 points, or 0.53 percent, at 17,799.63, the S&P 500 was up 10.14 points, or 0.49 percent, at 2,086.2 and the Nasdaq Composite was up 17.40 points, or 0.36 percent, at 4,878.46. Wall Street surged more than 1 percent on Tuesday and the Nasdaq had its strongest day in three months. Shares of Computer Sciences soared 31.9 percent to $47.10 after Hewlett Packard Enterprise said it would spin off and merge its struggling IT services business with the company.

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Wall Street opens higher, banks gain on rates speculation

24 May

Traders work on the floor of the NYSEMinutes of the Federal Reserve’s April meeting suggested a June rate hike had not been ruled out, surprising investors who had thought the Fed would stand pat until the end of the year. “Investors are looking for direction in terms of the health of the economy and the Fed’s next move. Several Fed officials struck hawkish tones in separate speeches on Monday, calling for two-three rate hikes in 2016 if supported by economic data.

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Bayer defies critics with $62 billion Monsanto offer

23 May

The corporate logo of Bayer is seen at the headquarters building in CaracasGerman drugs and crop chemicals group Bayer has offered to buy U.S. seeds company Monsanto for $62 billion in cash, defying criticism from some of its own shareholders in a bid to grab the top spot in a fast-consolidating farm supplies industry. The move, which would eclipse a planned combination of Dow Chemical and DuPont’s agriculture units, comes just three weeks after Werner Baumann took over as Bayer CEO, and was condemned by a major shareholder as “arrogant empire-building” when news of the proposal emerged last week. Giving details for the first time, Bayer said on Monday it would offer $122 per share, a 37 percent premium to Monsanto’s stock price before rumors of a bid surfaced.

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Viacom says its board has not had access to Redstone

22 May

A woman exits the Viacom Inc. headquarters in New YorkViacom Inc said on Saturday its board members have been unable to meet with controlling shareholder Sumner Redstone because his daughter Shari is blocking access to the media mogul. Viacom’s criticism of Shari Redstone comes a day after Sumner Redstone, 92, removed Viacom Chief Executive Officer Philippe Dauman and Viacom board member George Abrams from the seven-person trust that will determine the fate of Redstone’s $40 billion media empire that includes Viacom and CBS Corp in the event of his incapacitation or death.

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Start-Ups Once Showered With Cash Now Have to Work for It

21 May

Instead of venture capitalists begging to invest in start-ups, entrepreneurs are begging for cash, and potential investors are making demands.

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Economic data keeps Fed in focus for stocks

21 May

A Wall Street sign is seen in Lower Manhattan in New YorkEconomic data will garner most of the attention next week, with investors placing a heavy weight on a host of reports as they try and determine the likelihood of a rate hike by the U.S. Federal Reserve at its June meeting. Multiple gauges of the manufacturing sector will be released along with durable goods orders, a reading on consumer sentiment and the revised gross domestic product report for the first quarter. Signs of improvement in the data would likely heighten expectations of a rate hike and put equities under pressure.

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Wall Street opens higher as tech, financial stocks rise

20 May

Traders work on the floor of the NYSE(Reuters) – Wall Street opened higher on Friday, boosted by technology and financial stocks.

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Golfer Mickelson says returning Dean Foods trading gains

19 May

File photo of Phil Mickelson hitting out of a bunker on the 7th hole during the first round of The Masters in Augusta(Reuters) – Professional golfer Phil Mickelson said on Thursday he has agreed to return gains he made in 2012 from trading in Dean Foods Co stock and said he felt “vindicated” that U.S. authorities have not charged him with violating securities laws. In a statement via his attorney, Mickelson said he had no desire to benefit from any transaction that the U.S. Securities and Exchange Commission viewed as questionable and that he takes “full responsibility” for having become part of the probe. Mickelson, who has won three Masters golf titles, said he appreciates that the companies he represents have decided to continue their sponsorship agreements with him, and he is pleased the matter is over, according to the statement.

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Golf star Mickelson named in insider trading suit with ex-Dean Foods chairman, Vegas gambler

19 May

Dairy products produced by Dean Foods are shown in this illustration photograph in EncinitasWilliam “Billy” Walters, who has built a multimillion-dollar fortune as a famed Las Vegas sports bettor, and Thomas Davis, Dean Food’s former chairman, were criminally charged in a case brought by federal prosecutors in Manhattan. Mickelson, who has won three Masters golf titles, was not criminally charged, but was named as a relief defendant in a civil lawsuit by the U.S. Securities and Exchange Commission, which said he also traded in Dean Foods stock.

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