Sunday , 24 September 2017

Business News

Insider Q&A: National Flood Insurance Program Director

Flood insurance is on people’s minds again after hurricanes Harvey in Texas and Irma in Florida. Roy Wright, the director of the National Flood Insurance Program, has been pushing to make changes to the system, which is overseen by the Federal Emergency Management Agency. The flood insurance program was criticized after Hurricanes Sandy and Katrina as not being as responsive …

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US stock indexes waver in early trading; oil flat

The major U.S. stock indexes wavered in early trading Friday as losses by technology companies mostly outweighed gains by oil companies. Financial stocks also headed lower as bond yields declined. Oil prices were flat. KEEPING SCORE: The Standard & Poor’s 500 index was down less than 1 point to 2,500 as of 10:18 a.m. Eastern Time. The Dow Jones industrial …

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JC Penney to hire 40,000 for holidays, the same as last year

J.C. Penney says it plans to hire more than 40,000 people during the holiday season, the same number as last year. The Plano, Texas-based department store operator said Friday it is looking for cashiers, workers to restock its stores and beauty consultants to work at in-store Sephora makeup shops. Retailers tend to start hiring in October to prepare for the …

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Markets Right Now: Tech, banks lead US stock indexes lower

The latest on developments in financial markets (All times local): 9:35 a.m. Stocks are opening slightly lower on Wall Street as technology companies and banks decline. Apple fell another 1 percent early Friday as investors give a tepid reception to its new lineup of iPhones. Financial stocks are down as bond yields decline. Bank of America lost 1.2 percent. Sprint …

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Mazda 6 recalled; wiring short can knock out power steering

Mazda is recalling more than 60,000 midsize cars in the U.S. and Canada because a wiring problem can knock out power-assisted steering and the passenger air bag. The recall covers Mazda 6 sedans from 2015 and 2016. The company says in documents posted by the U.S. government that wires under the front passenger seat can rub against welding debris, causing …

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World shares fall on North Korea concerns, China rate cut

Most world stock markets fell Friday as investors turned cautious following new U.S. sanctions targeting North Korea and credit rating downgrades for China and Hong Kong. KEEPING SCORE: European shares were mostly lower in early trading. Britain’s FTSE 100 dipped 0.2 percent to 7,251.81 and Germany’s DAX was down less than 0.1 percent at 12,594.11. France’s CAC 40 rose 0.3 …

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SEC under fire for being hacked despite warnings on security

The Securities and Exchange Commission waited until Wednesday to disclose a hack of its corporate filing system that occurred last year. The disclosure raises questions about the agency’s ability to protect important financial information and comes as Americans are still weighing the consequences of the massive hack at Equifax. The SEC, the federal agency responsible for protecting investors and ensuring …

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Tiffany names industry veteran Roger Farah chairman

Tiffany & Co. has named industry veteran Roger Farah as chairman, effective Oct. 2. Farah, 64, joined the upscale jeweler’s board in March and had served in leadership roles at Ralph Lauren Corp., Venator Group Inc., among others. The move is part of a management overhaul pushed by activist investor Janna Partners to revitalize sales at Tiffany, which has struggled …

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