Thursday , 25 May 2017

Business News

Asian shares gain, tracking Wall St advance, oil price rally

Asian shares climbed Thursday after Wall Street advanced overnight into record territory spurred by the latest meeting minutes from the Federal Reserve. KEEPING SCORE: The Nikkei 225 stock index in Tokyo climbed 0.4 percent to 19,821.44 and Hong Kong’s Hang Seng jumped 0.7 percent to 25,598.44. South Korea’s Kospi jumped 1 percent to 2,340.23 while the Shanghai Composite index gained …

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Pyongyang gas price surge: Bad news for Kim Jong Un?

While world attention has focused on Kim Jong Un’s recent missile tests, a month-long surge in gasoline prices in Pyongyang is showing no signs of letting up — a puzzling problem that if allowed to drag on could be very bad news for the North Korean economy. Prices have shot up to about $2.30 per kilogram, or about $6.44 a …

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Moody's downgrades Hong Kong credit rating after China cut

Moody’s has cut its credit rating for Hong Kong hours after downgrading China for rising debt levels, which it said would have “significant impact” on the Asian financial hub because of their close links. The rating agency said late Wednesday that it’s lowering its local currency and foreign currency issuer ratings by one notch to Aa2 from Aa1. Earlier in …

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TSA tests screening larger electronic devices separately

Travelers at some U.S. airports are being asked to place electronic devices bigger than a cellphone in separate bins so that they can be examined more closely. The Transportation Security Administration said Wednesday that it has been testing the procedure at 10 airports for more than a year, and it may be expanded nationwide. The TSA says the approach is …

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FAA tells airlines to remove some seats from smaller planes

Federal safety regulators are telling airlines to remove a certain type of seat from their planes, saying the seat could cause neck injuries during otherwise survivable crash landings. The order covers 10,482 seats used mostly on mostly smaller regional jets. Airlines will have five years to remove the seats. The FAA proposed the action last year and made it final …

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Business Highlights

___ House GOP health bill projection: 23 million more uninsured WASHINGTON (AP) — The Congressional Budget Office estimated Wednesday that the health care bill Republicans have pushed through the House would leave 23 million additional people uninsured in 2026 compared to President Barack Obama’s health care law. The GOP bill would lower average premiums, but in part that would be …

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Judges divided in hearing on consumer agency power

Federal appeals judges are divided as they hear arguments over whether the president should be able to more easily fire the head of the government’s consumer finance watchdog agency. The U.S. Court of Appeals for the District of Columbia, in a rare hearing Wednesday by a majority of its judges, took up the politically charged case involving the Consumer Financial …

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United CEO assures shareholders at meeting; workers protest

The CEO of United Airlines assured shareholders Wednesday that the company is doing all it can to be more customer-friendly since video surfaced of a passenger being violently ejected from a plane last month. At the company’s annual meeting, Oscar Munoz mentioned the April 9 incident at least a half-dozen times. He vowed to “redouble our efforts to be more …

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Trump hotels won't ask if stays paid with foreign govt money

The Trump Organization will not ask guests at its hotels and resorts if they are using money from foreign governments to pay their bills, setting up a possible showdown with Democrats accusing the president of violating the U.S. Constitution. In a nine-page pamphlet made public Wednesday, the Trump Organization said that it would be “impractical” to identify all guests using …

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Intuit and Triumph jump while Lowe's and Tiffany tumble

Stocks that moved substantially or traded heavily Wednesday: Intuit Inc., up $8.68 to $137.83 The accounting software maker reported better results than investors expected, along with strong forecasts. Lowe’s Cos., down $2.49 to $79.85 The home improvement retailer took a big one-time charge and disclosed weak first-quarter sales. The Container Store Group Inc., up $1.35 to $5.50 The struggling storage …

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