Business news

• Trump's tough trade talk makes U.S. firms fear China retribution

  12-12-2016 23:53 via news.yahoo.com
  
  By Nick Carey and Ginger Gibson CHICAGO/WASHINGTON (Reuters) - U.S. President-elect Donald Trump's challenges to China on trade and Taiwan are rattling American companies who have long benefited from stable relations between the two countries but now fear retaliation by Beijing if Trump were to act. Trump jarred Chinese officials on Sunday by saying the United States did not necessarily have to stick to its long-standing position that Taiwan is part of "one China." Beijing expressed "serious con
  
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• Why Baytex Energy, Akorn, and Alamos Gold Jumped Today

  12-12-2016 23:52 via feeds.foxbusiness.com
  
  These stocks showed solid gains on a mixed day for the markets. Find out why.
  
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• CalPERS sues IAC over move to maintain Diller's voting power

  12-12-2016 23:48 via news.yahoo.com
  
  Chairman Diller controls more than 44 percent of IAC's voting shares, while the billionaire owns less than 8 percent of the company's stock, CalPERS said in a statement. "As a result, no matter how much IAC uses stock to pay compensation or pursue new deals, Diller and his future heirs will never lose their voting control, even as their economic ownership of IAC can be reduced far below their current 8 percent level," CalPERS said.
  
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• Next on Michelle Obama's journey: Figuring out next steps

  12-12-2016 23:47 via feeds.foxbusiness.com
  
  After eight years as first lady, what Michelle Obama does next will be one of the most talked-about questions when the Obamas leave the White House.
  
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• What Makes ETFs So Different From Mutual Funds?

  12-12-2016 23:42 via feeds.foxbusiness.com
  
  As investors try to fill out their portfolios and save toward their golden years, many will come across open-end mutual funds and exchange traded funds, but what are the differences between the two investment vehicles? For starters, ETFs, like their name implies, are traded on a stock exchange with intrday pricing, so share prices fluctuate…
  
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• SpaceX Delays Manned NASA Launch: Report

  12-12-2016 23:38 via feeds.foxbusiness.com
  
  Privately held Space Exploration Technologies Corp. has delayed its first manned NASA launch to mid-2018, a delay of about half a year, The Wall Street Journal reported late Monday.
  
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• Viacom-CBS Deal Scrapped, Redstone's Put Family First

  12-12-2016 23:37 via feeds.foxbusiness.com
  
  Sumner Redstone and daughter Shari have lost the urge to merge their media conglomerates and it may have come down to control.
  
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• Fed gives banks five years to comply with Volcker Rule limits

  12-12-2016 23:34 via news.yahoo.com
  
  The Federal Reserve Board laid out on Monday how U.S. banks can apply to take five more years to comply with the Volcker Rule, a reform emerging from the 2007-09 financial crisis that has received some of the harshest criticism from Wall Street. The rule, intended to keep banks from speculating with their customers' money, limits the amount of illiquid investments firms can hold. Big Wall Street banks have said they need more time to exit fund investments that are difficult to sell but no longer
  
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• Rates rise at US Treasury bill auction to highest in 8 years

  12-12-2016 23:32 via feeds.foxbusiness.com
  
  Interest rates on short-term Treasury bills rose in Monday's auction to their highest levels in eight years.
  
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• Exclusive: SWIFT confirms new cyber thefts, hacking tactics

  12-12-2016 22:52 via news.yahoo.com
  
  By Tom Bergin and Jim Finkle LONDON/BOSTON (Reuters) - Cyber attacks on the global banking system have continued - and succeeded - since February’s heist of $81 million from the Bangladesh central bank, underscoring the continuing vulnerability of the SWIFT messaging network, a SWIFT official told Reuters. The network, which handles trillions of dollars in transfers daily, has warned banks of the escalating threat to their systems, according to a SWIFT letter obtained by Reuters. Client ba
  
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• Tech, bank shares slip after recent gains; health outperforms

  12-12-2016 22:41 via news.yahoo.com
  
  The S&P 500 and Nasdaq Composite fell on Monday after six sessions of gains, weighed by tech sector stocks, while a rally in energy shares petered out as crude oil gains withered. Bank shares fell ahead of the Federal Reserve's last meeting for the year, set to begin Tuesday and expected to end on Wednesday with the year's first interest rate increase. Traders cashed in gains in bank stocks ahead of the meeting, even if a rate hike, which on paper would benefit banks, is all but priced in.
  
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• The 3 Most Profit-Friendly Biotech Stocks

  12-12-2016 22:21 via feeds.foxbusiness.com
  
  United Therapeutics, Gilead Sciences, and Biogen don't just dominate their respective markets, but they're also the most profitable companies in biotech.
  
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• U.S. Shale Output to Rise in January as OPEC Pulls Back

  12-12-2016 22:13 via feeds.foxbusiness.com
  
  U.S. shale production is set to snap a five-month decline in January, the U.S. government said on Monday, a move that comes just days after OPEC and rival producers agreed to reduce crude output in an effort to boost prices.
  
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• Precious Metal ETFs: Investing in Gold, Silver, Platinum & Palladium

  12-12-2016 21:43 via feeds.foxbusiness.com
  
  ETF Trends publisher/editor Tom Lydon spoke with Steve Dunn, Executive Director, Head of Distribution, ETF Securities, at the Schwab Impact Conference in San Diego that ran Oct. 24-27, 2016. Dunn discussed ETF investing when it comes to precious metals and ETFs that focus on gold, silver, platinum, and palladium.
  
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• Why Broadcom Ltd Abandoned This Multi-Billion Dollar Opportunity

  12-12-2016 21:41 via feeds.foxbusiness.com
  
  The company is following the time-tested investment strategy of buying winners and selling losers.
  
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• Oil hits highest since mid-2015 on non-OPEC cut agreement

  12-12-2016 21:41 via news.yahoo.com
  
  By David Gaffen NEW YORK (Reuters) - Oil rose to an 18-month high on Monday after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to tackle global oversupply, though prices slipped late in the day. Crude futures have rallied sharply, with U.S. oil futures gaining 23 percent since the middle of November as optimism that an agreement would be reached started to grow. "Right now the market is kind of feeding on itself," said Gene McGillian, manager of market
  
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• Oil Prices Hit 18-Month High

  12-12-2016 21:39 via feeds.foxbusiness.com
  
  Oil rose to an 18-month high on Monday after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to tackle global oversupply, though prices slipped late in the day.
  
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• Microsoft Has Fighting Words for Apple

  12-12-2016 21:39 via feeds.foxbusiness.com
  
  Consumers may be switching to Microsoft en masse.
  
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• Why Analysts Are Wrong About Hewlett Packard Enterprise Stock

  12-12-2016 21:38 via feeds.foxbusiness.com
  
  The cloud infrastructure and services leader cant catch a break from industry watchers, but this is a case when the "experts" could be too shortsighted.
  
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• Defense ETFs Are Under Fire From Trump

  12-12-2016 21:33 via feeds.foxbusiness.com
  
  After strengthening on what many believed would be a more hawkish administration ahead, aerospace and defense sector exchange traded funds are under attack, with President-elect Donald Trump taking aim at Pentagon’s high expenditures. On Monday, the iShares U.S. Aerospace & Defense ETF (NYSEArca: ITA) fell 1.3%, PowerShares Aerospace & Defense Portfolio (NYSEArca: PPA) dropped 1.3%…
  
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• Judge: No deposition from state official in climate case

  12-12-2016 21:18 via feeds.foxbusiness.com
  
  A federal judge in Texas reversed course on Monday and canceled a scheduled deposition from a Massachusetts official who is looking into whether Exxon Mobil misled the public about the impact of fossil fuels on climate change.
  
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• Top Oil Stocks to Buy After OPEC's "Shock and Awe" One-Two Punch

  12-12-2016 21:05 via feeds.foxbusiness.com
  
  OPEC has had enough with low oil prices, which puts these shale producers in the position to thrive.
  
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• Sumner Redstone and daughter pull CBS, Viacom merger plan

  12-12-2016 21:03 via news.yahoo.com
  
  By Jessica Toonkel and Greg Roumeliotis NEW YORK (Reuters) - Media mogul Sumner Redstone and his daughter Shari called off their failed effort to merge CBS Corp and Viacom Inc on Monday, sending shares of Viacom - widely viewed as the weaker company - down more than 7 percent. Les Moonves, the longtime chief executive of CBS, said last week talks were still stuck in the early stages, more than two months after the Redstones asked the boards of both companies to explore a tie-up. The two sides ne
  
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• Nvidia's self-driving car test showcases company's shift to AI solutions

  12-12-2016 20:56 via techrepublic.com
  
  Nvidia began testing its autonomous vehicle tech on California streets last week, showcasing big investments that the firm has made in AI and deep learning.
  
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• Ottawa announces new National Energy Board members to review Energy East pipeline

  12-12-2016 20:32 via cbc.ca
  
  Natural Resources Minister Jim Carr has announced the appointment of three new National Energy Board members who will be tasked with reviewing TransCanada's proposed Energy East pipeline.
  
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• Trump attack on Lockheed Martin foreshadows war on defense industry

  12-12-2016 20:01 via news.yahoo.com
  
  Donald Trump on Monday widened his attack on defense contractors, slamming Lockheed Martin's F-35 fighter jet program as too expensive as aides to the president-elect said he intends to keep pushing to cut the costs of military hardware. Lockheed shares dropped 3.4 percent and other defense contractors also tumbled. "The F-35 program and cost is out of control," Trump said on Twitter, echoing campaign promises to cut waste in federal spending.
  
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• Apple in talks to invest $1 billion in SoftBank tech fund: source

  12-12-2016 19:53 via news.yahoo.com
  
  SoftBank is investing at least $25 billion in the fund and has been in talks with Saudi Arabia's Public Investment Fund (PIF) for an investment that could go up to $45 billion. SoftBank has said it plans to make future large-scale investments via the tech fund, rather than on its own. Some of SoftBank's moves have caused concern among analysts, as the firm wrestles with a 13.7 trillion-yen ($119 billion) debt pile.
  
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• 40 Rona stores to take Lowe's name as part of shakeup in DIY retail

  12-12-2016 19:49 via cbc.ca
  
  Six months after acquiring do-it-yourself retailer Rona, Lowe's says it plans to convert 40 Rona stores outside Quebec to the Lowe’s name.
  
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• CBS, Viacom merger proposal called off by Sumner Redstone firm

  12-12-2016 19:20 via cbc.ca
  
  Media mogul Sumner Redstone's National Amusements is abandoning a proposal that CBS and Viacom reunite after a 10 year split.
  
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• Wall Street drifts lower as financial, tech stocks drag

  12-12-2016 19:03 via news.yahoo.com
  
  Both the Dow and the S&P hit intraday record highs earlier in the session. Oil major Exxon was up 2.79 percent, and was among the stocks boosting the Dow and the S&P. Chevron rose 1.9 percent. President-elect Donald Trump's expected agenda of economic stimulus and reduced taxes and regulations has fueled a market rally, with the benchmark S&P 500 rising 5.6 percent since Nov. 8 to Friday's close.
  
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• Venezuelans prepare for largest currency note to be yanked

  12-12-2016 18:29 via cbc.ca
  
  Venezuelans are rushing to spend their 100-bolivar notes after President Nicolas Maduro's announcement they will be taken out of circulation to stop the contraband smuggling "mafias" along the Colombian border that he says hoard cash outside the country.
  
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• Venezuela gripped by 'total chaos' as largest currency banknote withdrawn

  12-12-2016 18:29 via cbc.ca
  
  ​Venezuelans hastily dumped the country's 100-bolivar bill, the largest denomination, on Monday after the government said it would be pulled from circulation as the crisis-racked nation suffers what is believed to be the world's highest inflation.
  
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• Trump puts Goldman Sachs in spotlight, for better or worse

  12-12-2016 18:25 via news.yahoo.com
  
  Goldman's shares have jumped by nearly a third since Trump's Nov. 8 election victory, outpacing gains by rivals, as investors bet on a resurgence in trading stocks and bonds due to increased volatility, and the prospect of less onerous financial regulation. Trump's expected pick of Gary Cohn, Goldman's second-in-command, to advise him on economic policy, has only made that chorus louder.
  
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• Trump tweet hits Lockheed Martin's F-35 fighter jet costs

  12-12-2016 18:11 via news.yahoo.com
  
  Donald Trump on Monday criticized Lockheed Martin's F-35 fighter jet program as too expensive, the latest attack by the U.S. President-elect on large defense contractors. Lockheed shares dropped 5.1 percent and shares of several other defense contractors also tumbled. "The F-35 program and cost is out of control," Trump said on Twitter, echoing campaign promises to cut waste in federal spending.
  
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• Top 10 developments of 2016 in autonomous vehicles

  12-12-2016 17:51 via techrepublic.com
  
  From the FDA unveiling autonomous vehicle guidelines to Tesla releasing all new models hardware-ready for full autonomy, 2016 has been a huge year for announcements in the driverless space.
  
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• Two features that make Wire Private Message a must have for business users

  12-12-2016 17:28 via techrepublic.com
  
  If you're looking for a way to enable your staff to more reliably and securely communicate with one another, here are two reasons why Wire should be your tool of choice.
  
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• IMF head Christine Lagarde IMF goes on trial over French payout case

  12-12-2016 17:07 via cbc.ca
  
  International Monetary Fund chief Christine Lagarde went on trial Monday in a Paris court, accused of negligence for allowing a huge handout to a well-connected businessman when she was in the French government.
  
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• IMF head Christine Lagarde goes on trial over French payout case

  12-12-2016 17:07 via cbc.ca
  
  International Monetary Fund chief Christine Lagarde went on trial Monday in a Paris court, accused of negligence for allowing a huge handout to a well-connected businessman when she was in the French government.
  
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• Dow, S&P hit record highs as energy shares jump

  12-12-2016 16:57 via news.yahoo.com
  
  The S&P energy index was the top gainer with a 2.4 percent rise. Oil majors Exxon and Chevron were up about 2.3 percent and provided the biggest boost to the Dow. President-elect Donald Trump's expected agenda of economic stimulus and reduced taxes and regulations has fueled a market rally, with the benchmark S&P 500 rising 5.6 percent since Nov. 8 to Friday's close.
  
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• Chipotle founder Ells takes over as sole CEO at burrito chain

  12-12-2016 16:50 via news.yahoo.com
  
  The company said at an investor conference last week that a food safety program it had put in place in the aftermath of the outbreaks had led to a drop in the quality of customer service. Chipotle's shares, which traded as high as $758.61 last August, have lost about 23 percent of their value since the start of the year, closing at $370 on Friday.
  
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• Inter Pipeline to buy Canadian Natural's stake in Cold Lake pipeline system

  12-12-2016 16:42 via cbc.ca
  
  Canadian Natural Resources is selling its 15 per cent stake in the Cold Lake pipeline system to Inter Pipeline Ltd. for about $527.5 million in cash and shares.
  
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• Exclusive: Fox nears firm bid for Sky via scheme of arrangement - sources

  12-12-2016 16:42 via news.yahoo.com
  
  By Sophie Sassard and Kate Holton LONDON (Reuters) - Rupert Murdoch's Twenty-First Century Fox aims to table a firm cash bid valuing British broadcaster Sky at 10.75 pounds per share as early as Wednesday to help him buy the rest of the company, four people familiar with the matter said. This could make it easier for Fox to wrap up a deal as it would only require 75 percent approval from shareholders, against 90 percent through a straight takeover under UK rules. This comes after Fox made a prop
  
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• Trump targets Lockheed Martin's F-35 fighter jet costs

  12-12-2016 16:41 via news.yahoo.com
  
  U.S. President-elect Donald Trump took aim at another major defense contractor on Monday, saying the cost of Lockheed Martin's F-35 fighter jet program was too high. The aerospace giant's shares dropped about 4 percent in early trading after Trump's tweet, while shares of several other defense contractors also weakened. "The F-35 program and cost is out of control," Trump said on Twitter.
  
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• Exclusive: Some Bangladesh Bank officials involved in heist - investigator

  12-12-2016 16:33 via news.yahoo.com
  
  Some Bangladesh central bank officials deliberately exposed its computer systems and enabled hackers to steal $81 million from its account at the Federal Reserve Bank of New York in February, a top investigator in Dhaka told Reuters on Monday. The comments by Mohammad Shah Alam of the Dhaka police are the first sign that investigators have got a firm lead in one of the world's biggest cyber heists. On Thursday, the head of a Bangladesh government panel that investigated the heist said five bank
  
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• Using XaaS for your business? Then you need one of these multifactor authentication apps

  12-12-2016 16:24 via techrepublic.com
  
  The password simply isn't secure anymore. Spyware, brute force attacks, dictionary attacks, and phishing can make circumventing passwords easy. Here are five tools to add an extra layer of security.
  
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• AmEx to increase family benefits for U.S. employees

  12-12-2016 16:22 via news.yahoo.com
  
  AmEx's new family benefits include 20 weeks of paid parental leave, reimbursement of adoption or surrogacy expenses of up to $35,000, and a maximum benefit of $35,000 for reproductive and fertility treatments, the company said. The United States lags behind other developed countries in the amount of leave given to employees.
  
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• Trump sends Lockheed Martin stock tumbling with tweet about cutting 'billions' in F-35 costs

  12-12-2016 16:20 via cbc.ca
  
  Shares of Lockheed Martin fell as president-elect Donald Trump tweeted that making F-35 fighter planes is too costly and that he will cut "billions" in costs for military purchases.
  
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• ‘Outlander’ Christmas Gift Guide: 8 Holiday Present Ideas For Your Sassenach

  12-12-2016 16:19 via ibtimes.com
  
  If you know someone who has been throwing around phrases like “Sassenach,” “Je suis prest” and “Jamie and Claire,” then you have an “Outlander” fan in your life. The Starz TV show and Diana Gabaldon’s book series have tons of followers who would love a present related to Jamie and Claire for the holidays. Check out a few “Outlander”-themed gift ideas below:
  
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• National Amusements pulls CBS, Viacom merger proposal

  12-12-2016 16:19 via news.yahoo.com
  
  Sumner Redstone's privately-held National Amusements on Monday withdrew its merger proposal for CBS and Viacom, citing prospects for a turnaround at Viacom under its new leadership. Shares of Viacom tumbled 6.8 percent in early New York Stock Exchange trading to $36. "Following the management changes that the Viacom Board put in place, we have been very impressed with the forward-looking thinking and strategic plan being pursued under Bob Bakish’s leadership," National Amusements said in a
  
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• Chicago Snowstorm Pictures 2016: Photos, Snowfall Totals And Flight Cancellations Details

  12-12-2016 16:16 via ibtimes.com
  
  Winter storm Caly dumped snow on Illinois, Michigan, Minnesota and eight other states Sunday as it made its way across the Midwest. The two-day snowstorm caused more than 1,000 flights to be canceled at O’Hare International Airport and Midway International Airport in Chicago. Both airports reported about seven inches of snow.
  
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