Wednesday , 20 June 2018

Business News

Global stocks rise, unfazed by US-China tensions

Stock markets rose Wednesday as investors rallied around signs that the global economy was on track despite heated exchanges between the world’s two largest economies over trade. KEEPING SCORE: Germany’s DAX was up 0.1 percent to 12,692 and France’s CAC 40 added 0.2 percent to 5,400. Britain’s FTSE 100 gained 0.9 percent to 7,668. Wall Street was poised to open …

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Australian telecom Telstra to ax 8,000 jobs to save $740M

Telstra Corp., Australia’s largest telecommunications company, announced on Wednesday that it will ax 8,000 jobs — one in four employees — over three years in a bid to save 1 billion Australian dollars ($740 million). Telstra shares fell more than 7 percent in early trading on the Australian stock market after the announcement to AU$2.70, its lowest price since 2011. …

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After query, Ross shorted stock in Kremlin-tied firm: report

Commerce Secretary Wilbur Ross made a trade betting that the stock in a shipping company with Russian-government ties would fall, a transaction coming just days after he learned of a possible negative news story about his investment in the company. Ross reported on a government form released Monday, as required by federal ethics rules, that he shorted stock in Navigator …

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GE to end more than 100-year run on Dow; Walgreens added

General Electric will be dropped from the Dow Jones industrial average next week, ending the conglomerate’s more than 100-year run in the 30-company blue chip index. S&P Dow Jones Indices said Tuesday that GE will be removed from the index before the open of trading next Tuesday. Its slot will go to drugstore chain Walgreens Boots Alliance. Boston-based GE was …

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Stocks open sharply lower on trade tiff

The latest on developments in financial markets (all times local): 4:00 p.m. The Dow Jones industrial average is closing with its sixth straight loss Tuesday as worries about a U.S.-China trade dispute hit stock indexes around the globe. The Dow is down 287 points, or 1.1 percent, to 24,700. Big industrial companies that are part of the index, such as …

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In tit-for-tat, Trump threatens more tariffs against China

The United States and China edged closer Tuesday to triggering the riskiest trade war in decades, a fight that could weaken the world’s two largest economies, unsettle relations between Beijing and Washington and crimp global growth. The collateral damage could be widespread. If the tariffs the two countries have threatened to slap on each other’s exports take effect, their consumers …

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US housing starts jumped 5 pct. in May off Midwest building

A surge of construction in the Midwest drove U.S. housing starts up 5 percent in May from the prior month. The Commerce Department said Wednesday that housing starts rose to a seasonally adjusted annual rate of 1.35 million, the strongest pace since July 2007. All of May’s construction gains came from a 62 percent jump in the Midwest, while building …

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CVS Health will now deliver prescriptions to your home

CVS Health will make prescription deliveries nationwide to accommodate the heightened expectations of convenience from consumers. The nation’s second-largest drugstore chain says it also will make home deliveries of other items, like allergy medicines, vitamins or household products. The service will cost $4.99 for deliveries made in one or two days. The drugstore chain said Tuesday that it’s expanding same-day …

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Global stocks tumble after new Trump tariff threat

Global stock markets fell Tuesday after U.S. President Donald Trump escalated a dispute with China over technology policy by threatening a tariff hike on an additional $200 billion of Chinese goods. KEEPING SCORE: Germany’s DAX was down a sharp 1.3 percent to 12,673 and France’s CAC 40 fell 1.1 percent to 5,394. London’s FTSE 100 lost 0.4 percent to 7,598. …

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How major US stock indexes fared Monday

U.S. stocks shrugged off early losses and wound up with a mixed finish Monday. Household goods companies took some of the worst losses as the S&P 500 index fell for the third time in four days. On Monday: The S&P 500 index lost 5.91 points, or 0.2 percent, to 2,773.75. The Dow Jones industrial average slipped 103.01 points, or 0.4 …

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