Monday , 22 January 2018

Business News

Business Highlights

___ US oil output is booming and seen outpacing Saudis, Russia PARIS (AP) — A global energy agency says that U.S. oil production is growing quickly and is forecast to top that of heavyweights Saudi Arabia and Russia this year. The International Energy Agency says in its monthly market report that U.S. oil production, which has already risen to its …

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How major US stock indexes fared on Friday

Stocks closed higher Friday, driving several of the major indexes to record highs. Retailers, banks and consumer goods companies accounted for much of the latest gains, which reversed modest losses from a day earlier. Energy stocks fell along with crude oil prices. Utilities also declined as bond yields hit the highest level in more than three years. On Friday: The …

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US stocks close higher as market sets latest record high

Investors shrugged off the potential for a federal government shutdown Friday, driving U.S. stocks higher and setting new milestones for several of the indexes. The Standard & Poor’s 500 index, Nasdaq composite and Russell 2000 index of smaller-company stocks finished at record highs as the market bounced back from modest losses a day earlier. The S&P 500 has now posted …

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Crunch time: What Amazon wants for its new HQ

Just 20 cities are left standing in the competition for Amazon’s second headquarters and the 50,000 jobs it will bring. Now comes the hard part for the finalists — and for Amazon. Based on the cities that made the cut, and what the company told some of the cities that didn’t, the company will likely scrutinize six key criteria when …

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Amazon, Lowe's and Citizens rise while IBM and AmEx skid

Stocks that moved substantially or traded heavily Friday: Amazon.com Inc., up $1.26 to $1,294.58 The online retailer said it will raise the price of a monthly Prime membership to $12.99 from $10.99. IBM Corp., down $6.75 to $162.37 The technology and consulting company gave up some of its recent gains despite a solid fourth-quarter report. American Express Co., down $1.83 …

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Markets Right Now: US stocks finish higher

The latest on developments in financial markets (All times local): 4:00 p.m. Stocks are closing higher on Wall Street, driving several of the major indexes to new highs. Retailers and consumer goods companies led the gainers. Energy stocks fell along with the price of crude oil. Utilities declined as bond yields rose. Lowe’s rose 3.5 percent after naming three new …

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Quarles lays out road map for bank regulations

The Federal Reserve’s top official on financial regulation is putting forward a wide-ranging agenda for improving the way the nation’s banks are regulated, saying he wants to focus on “efficiency, transparency and simplicity.” Randal Quarles, the Fed’s vice chairman for supervision, says that he is looking at improving the Fed’s annual stress test of the nation’s biggest banks — the …

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Correction: Uber-Autonomous Vehicles story

In a story Jan. 17 about autonomous vehicles, The Associated Press, relying on incorrect information from Uber, reported erroneously that the company has test vehicles carrying passengers with human backup drivers in Toronto and San Francisco. The company is testing autonomous vehicles in both cities but is not carrying passengers. A corrected version of the story is below: Uber nearing …

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SEC letter shows bitcoin funds won't happen soon, if ever

It may be a while, if ever, before investors can buy an exchange-traded fund made up of bitcoin and other digital currencies. Federal regulators have a long list of questions they want answered before they’ll approve a digital currency fund for Main Street investors. This week the Securities and Exchange Commission sent a letter listing more than 30 of them …

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US rig count down by 3 to 936; Wyoming adds 3

The number of rigs exploring for oil and natural gas in the U.S. decreased by three this week to 936. That exceeds the 694 rigs that were active this time a year ago. Houston oilfield services company Baker Hughes reported on Friday that 747 rigs were drilling for oil and 189 for natural gas this week. Among oil- and gas-producing …

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