Finance news

• Former FBI chief lashes out at Trump, Republicans

  17-12-2018 23:57 via news.yahoo.com
  Former FBI director James Comey lashed out at Donald Trump on Monday for telling "lies" and undermining the rule of law, and urged Republicans to stand up to the president."The FBI's reputation has as taken a big hit because the president of the United States, with his acolytes, has lied about it constantly.In the face of those lies, a whole lot of good people... believe that nonsense," Comey told reporters in the halls of the US Senate.
  
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• DoubleLine's Gundlach says U.S. equities are in long-term bear market

  17-12-2018 23:57
  Jeffrey Gundlach, chief executive of DoubleLine Capital, on Monday said the S&P 500 stock index is headed to new lows and that U.S. equities are in a long-term bear market.
  
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• J&J announces $5 billion share buyback after shares extend losses

  17-12-2018 23:50 via news.yahoo.com
  Johnson & Johnson said on Monday it plans to buy back up to $5 billion of its stock, after a Reuters report on Friday that the company knew for decades that its Baby Powder contained cancer-causing asbestos wiped about $40 billion from its market value.J&J knew about the presence of small amounts of asbestos in its products as early as 1971, a Reuters examination of company memos, internal reports and other confidential documents showed.The share repurchase was just the latest effort the
  
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• Construction company fires workers over CA wildfire destruct

  17-12-2018 23:46 via news.yahoo.com
  Three construction workers were fired after posting inappropriate pictures surrounded by wildfire aftermath; Claudia Cowan reports from Paradise, California.
  
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• Wall Street's main small-cap index drops into bear market

  17-12-2018 23:32
  Wall Street's most widely followed benchmark of small-cap stocks tumbled into a bear market on Monday as investors grew more worried about slower profit growth and rising interest rates.
  
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• Renault-Nissan board meets amid deepening leadership crisis

  17-12-2018 23:26 via news.yahoo.com
  Renaultand Nissanexecutives will gather on Tuesday for a board meeting of their car making alliance, two sources said, amid tensions over the future of the partnership in the wake of Chairman Carlos Ghosn's arrest last month.The two days of talks in Amsterdam come after Nissan CEO Hiroto Saikawa rebuffed a demand from parent Renault for an extraordinary shareholder meeting that would have offered the French carmaker a chance to weigh in on Ghosn's replacement as chairman and on other Nissan boar
  
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• Girl's death shows communication issues on US-Mexico border

  17-12-2018 23:26 via news.yahoo.com
  Shortly before a 7-year-old Guatemalan girl died in U.S. custody, her father signed a form stating that his daughter was in good health. But it's unclear how much the man understood on the form, which was written in English and read to him in Spanish by Border Patrol agents.
  
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• Michael Flynn associate charged with illegal lobbying for Turkey

  17-12-2018 23:20 via news.yahoo.com
  The former national security adviser Michael Flynn is due to be sentenced on Tuesday after pleading guilty to lying to the FBI.A one-time business partner of the former national security adviser Michael Flynn has been arrested and charged with illegally lobbying to have a Turkish exile returned from the US.Bijan Rafiekian, who also goes by the name Bijan Kian, made an initial appearance on Monday in federal court in Alexandria, Virginia.
  
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• The Latest: Ex-archbishop denies claim, welcomes probe

  17-12-2018 23:19 via news.yahoo.com
  VATICAN CITY (AP) — The Latest on a U.S. archbishop's request to address sexual misconduct allegations against former St. Paul and Minneapolis Archbishop John Nienstedt (all times local):
  
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• Congressional delegation will visit Border Patrol site after death of 7-year-old girl in US custody

  17-12-2018 23:19 via news.yahoo.com
  A congressional delegation will visit the New Mexico border station where a 7-year-old Guatemalan girl was detained before dying at a nearby hospital – amid calls by her father for a “transparent” investigation into the circumstances that led to her death.The child, Jakelin Caal Maquin, was with her father were in a group of 163 migrants that was detained by US Border Patrol on 6 December in a remote area of the New Mexico desert.Officials say that she began vomiting and stoppe
  
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• Trump did not tell Erdogan he would extradite Gulen: White House official

  17-12-2018 23:09 via news.yahoo.com
  President Donald Trump did not commit during a meeting with Turkish President Tayyip Erdogan at the G20 summit two weeks ago to extradite a Muslim cleric based in the United States, a senior White House official said on Monday."While meeting with President Erdogan at the G20, the president did not commit to extradite Fethullah Gulen," said the official, who spoke on condition of anonymity.
  
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• Wall Street tumbles with Dow closing down more than 500 points, S&P closing at 14-month low

  17-12-2018 22:58 via news.yahoo.com
  Wall Street's three major indexes each slid more than 2 percent on Monday, with the benchmark S&P 500 closing at its lowest level in 14 months.
  
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• Ocean Cleanup founder says problems can be fixed

  17-12-2018 22:58 via news.yahoo.com
  So far the giant floating device launched three months ago to collect plastic in the Pacific garbage patch has not been successful. But Ocean Cleanup's founder says, with changes, he's confident it'll still work. (Dec. 17)
  
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• The 2020 Mercedes-Benz CLA Debuts Next Month

  17-12-2018 22:30 via news.yahoo.com
  The second generation of Benz's smaller four-door coupe will be revealed at CES.
  
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• AP Explains: What happens in a partial government shutdown

  17-12-2018 22:28 via news.yahoo.com
  WASHINGTON (AP) — As President Donald Trump and Congress bicker over Trump's call for $5 billion to build a border wall with Mexico, government agencies are preparing for a partial government shutdown set to begin at midnight Friday.
  
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• Trump Defender Alan Dershowitz Argues That Lying To The FBI Isn't A Crime

  17-12-2018 22:26 via news.yahoo.com
  On the eve of Michael Flynn's sentencing for lying to the FBI, retired Harvard
  
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• To Fund Trump Border Wall, Ally in Congress Floats Selling Bonds

  17-12-2018 22:25 via news.yahoo.com
  Republican Representative Steven Palazzo of Mississippi is introducing legislation to direct the Treasury Department to issue government savings bonds to pay for a physical barrier between the U.S. and Mexico, one of Trump’s signature issues.“This legislation would allow for the patriots of today’s era to help support American security in the same way as previous generations,” Palazzo said in a statement on the legislation, known as The Border Bonds for America Act.Bonds
  
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• Markets Right Now: Another steep drop pulls Dow down 500

  17-12-2018 22:23 via news.yahoo.com
  NEW YORK (AP) — The latest on developments in financial markets (all times local):
  
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• Global stocks drop, where is 'Santa Claus rally'?

  17-12-2018 22:23 via news.yahoo.com
  Wall Street's Dow Jones Industrial Average fell 506.71 points, or 2.1 percent, to 23,593.8, the S&P 500 lost 54.09 points, or 2.08 percent, to 2,545.86 and the Nasdaq Composite dropped 156.93 points, or 2.27 percent, to 6,753.73."If Santa Claus doesn't turn up very soon, U.S. stocks may end this year in negative territory", wrote Rabobank analysts as the Nasdaq remained the only benchmark in the black for the year, with the Dow and the S&P 500 down between 2 and 3 percent.Some investors
  
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• Woman who climbed Statue of Liberty in immigration protest found guilty

  17-12-2018 22:13 via news.yahoo.com
  Okoumou said: ‘We stand on the right side of history.An activist has been found guilty of a series of federal crimes after she climbed on to the base of the Statue of Liberty this summer to protest against the US policy of separating migrant families and holding children in detention.Magistrate judge Gabriel Gorenstein convicted Therese Patricia Okoumou, who goes by Patricia, on Monday afternoon after a one-day bench trial in New York, asserting that the protester’s political and mor
  
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• US accepts Assad staying in Syria -- but won't give aid

  17-12-2018 22:05 via news.yahoo.com
  James Jeffrey, the US special representative in Syria, said that Assad needed to compromise as he had not yet won the brutal seven-year civil war, estimating that some 100,000 armed opposition fighters remained in Syria.It's not regime change -- we're not trying to get rid of Assad," Jeffrey said at the Atlantic Council, a Washington think tank.
  
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• Jesuits release list of 89 US priests accused of sex abuse

  17-12-2018 22:05 via news.yahoo.com
  Jesuit authorities for 20 US states on Monday released the names of 89 priests with credible allegations of child sexual abuse dating as far back as 1950.The disclosures by the Jesuit provinces of Maryland and USA Midwest are the latest chapter in the ongoing sexual abuse scandal roiling the Catholic Church and come after 153 Jesuits were publicly identified by two other provinces earlier this month."On behalf of the Midwest Jesuits, I apologize to victim-survivors and their families for the har
  
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• Top U.S. fund managers prepare for bear market in small company stocks

  17-12-2018 22:03
  The shares of small companies in the U.S. fell into a bear market Monday, but several top-performing fund managers had already been acting as if it was inevitable.
  
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• Standoff over Trump border wall puts Congress in budget 'pickle'

  17-12-2018 21:57 via news.yahoo.com
  Trump has demanded $5 billion as a down-payment on construction of a huge wall that he argues is the only way to keep illegal immigrants and drugs from entering the United States."Anytime you hear a Democrat saying that you can have good Border Security without a Wall, write them off as just another politician following the party line!" Trump wrote in a Twitter posting on Monday."Time for us to save billions of dollars a year and have, at the same time, far greater safety and control."Democrats
  
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• New York Governor Cuomo aims to legalize recreational marijuana use

  17-12-2018 21:54 via news.yahoo.com
  New York Governor Andrew Cuomo on Monday said legalizing marijuana for recreational use would be one of his top legislative priorities next year.The move, which would add New York to the list of 10 U.S. states and the District of Columbia that have legalized cannabis, could bring in hundreds of millions of dollars in annual tax revenue, according to a report commissioned by the governor and released last summer.Neighboring New Jersey is also weighing whether to allow recreational use of marijuan
  
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• Could a Grand Jury subpoena be issued for Trump by Mueller?

  17-12-2018 21:53 via news.yahoo.com
  Trump lawyer rules out Mueller interview; Judge Napolitano weighs in.
  
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• North Carolina GOP wants candidate in Congress despite probe

  17-12-2018 21:38 via news.yahoo.com
  RALEIGH, N.C. (AP) — North Carolina Republicans said Monday that they want their candidate in a still-undecided U.S. House race marred by ballot fraud allegations to take his seat in Congress despite acknowledging a replacement election may be required.
  
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• Challenge to Hungary's strongman Viktor Orban as 'slave law' protests rock Budapest

  17-12-2018 21:35 via news.yahoo.com
  Viktor Orban, the populist prime minister of Hungary, is facing a rare challenge to his grip on power as protesters demand an end to controversial labour reforms and and what they call his assault on democracy.    The Hungarian capital has been rocked by nearly daily protests and opposition MPs have called for Mr Orban's overthrow since the country's parliament adopted a bill liberalising overtime rules on Wednesday.   As part of the reform, which critics have dubbed "the sla
  
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• Even Obamacare Haters Think Friday's Court Ruling Is Terrible

  17-12-2018 21:27 via news.yahoo.com
  Friday's court ruling against the Affordable Care Act is so bonkers that even
  
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• General Dynamics Warns Trudeau Over Exit Penalties in Saudi Deal

  17-12-2018 21:18 via news.yahoo.com
  In a television interview Sunday, Canadian Prime Minister Justin Trudeau said the government was looking for a way to halt the sale of armored vehicles manufactured by a unit of U.S.-based General Dynamics Corp. “We are engaged with the export permits to try and see if there is a way of no longer exporting these vehicles to Saudi Arabia,” Trudeau told CTV, without elaborating.The company’s Canadian unit, in a written statement Monday, warned that doing so could leave the govern
  
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• High Surf Warning in effect along Bay Area coastline

  17-12-2018 21:13 via news.yahoo.com
  A powerful northwest swell will create waves of 25 to 40 feet along the Bay Area coastline, with breakers occasionally exceeding 50 feet at some locations.
  
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• Michael Flynn's ex-business associate charged in illegal lobbying effort to extradite Turkish cleric

  17-12-2018 21:09 via news.yahoo.com
  Federal prosecutors allege Bijan Rafiekian sought to conceal the Turkish government's role in the effort to extradite cleric Fethullah Gulen.
  
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• Poll: Americans don't want another government shutdown, will blame the GOP

  17-12-2018 21:02 via news.yahoo.com
  A USA TODAY/Suffolk University Poll shows Americans do not want to see another government shutdown by a double-digit margin.
  
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• UPS Store offers to shred children's letters to Santa Claus in viral tweet

  17-12-2018 20:57 via news.yahoo.com
  The stress of the busy holiday season appears to be taking its toll on the UPS Store's employees.
  
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• Russian Social Media Amassed Millions Of Followers In Support Of Trump: Reports

  17-12-2018 20:57 via news.yahoo.com
  Two new reports analyzing the scope of Russian interference in the 2016
  
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• Reminder: Government Shutdowns Are Costly And Stupid

  17-12-2018 20:57 via news.yahoo.com
  The federal government may be partially shut down later this week if President
  
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• 35 Last-Minute Gifts That Are Actually Meaningful

  17-12-2018 20:53 via news.yahoo.com
  Because wine is delicious, but we bet you can do better
  
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• Donald Trump's possible third shutdown is not about protecting Americans: Today's talker

  17-12-2018 20:31 via news.yahoo.com
  At the crux of another government shutdown is funding for the border wall, but it's possible that the issue won't even be resolved after a shutdown.
  
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• 160-strong classic car collection on sale due to museum closure

  17-12-2018 20:24 via news.yahoo.com
  From (a replica of) the first production car in the world through to a 12-mile Dodge Viper, the 160-strong Tupelo collection has some fine pickings
  
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• Goldman’s Woes Mount as Malaysia Slaps First Criminal Charge

  17-12-2018 20:22 via news.yahoo.com
  The country filed the first criminal charges against the U.S. bank in the global corruption probe on Monday, after publicly urging Goldman to come to the negotiating table or face litigation.The firm already is in the thick of investigations by U.S. prosecutors and regulators over Goldman’s conduct in the controversy.Malaysian authorities allege that Goldman misled investors when the bank knew that proceeds from 1MDB bond sales it arranged would be misappropriated.
  
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• Google to spend $1 billion on new campus in New York

  17-12-2018 20:06 via news.yahoo.com
  The 1.7 million square-foot campus, called Google Hudson Square, will include leased properties at Hudson Street and Washington Street, the company said in a blog post on Monday.The new campus will be the main location for Google's advertising sales division, the Global Business Organization.Google hopes to start moving into two Hudson Street buildings by 2020, followed by a Washington Street in 2022 and will have the capacity to more than double its New York headcount, currently more than 7,000
  
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• Search For Missing Colorado Mom Leads Investigators To Fiance's Ranch

  17-12-2018 20:00 via news.yahoo.com
  Dozens of state and federal law enforcement officers descended on a rural
  
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• U.N. peacekeepers say two tunnels at Israel border breached U.N. resolution

  17-12-2018 19:56 via news.yahoo.com
  U.N. peacekeepers in Lebanon said on Monday two of four tunnels found close to the border with Israel crossed the frontier demarcation between the two countries, violating a U.N. resolution that ended a 2006 war between Hezbollah and Israel.The U.N. Interim Force in Lebanon (UNIFIL) said it had so far confirmed the existence of four tunnels which the Israeli army discovered in the vicinity of the border demarcation, known as the "Blue Line", adding the finds were of "serious concern".
  
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• Veteran tech columnist Mossberg quits Facebook

  17-12-2018 19:38 via news.yahoo.com
  The social network has come under fire all year for security breaches and data collection on users. Mossberg says he's "no longer comfortable" with it.
  
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• UN force says Israel-Lebanon border tunnels violate truce

  17-12-2018 19:35 via news.yahoo.com
  BEIRUT (AP) — U.N. peacekeepers in Lebanon said Monday that two of the four tunnels discovered by Israel and allegedly dug by the Hezbollah militant group cross the border in violation of the cease-fire agreement that ended the 2006 war.
  
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• Southwest Passenger Says She Was Forced To Leave Pet Fish At Denver Airport

  17-12-2018 19:35 via news.yahoo.com
  A San Diego-area college student is accusing Southwest Airlines of forcing her
  
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• Partners of ex-Trump aide Flynn indicted over Gulen plot

  17-12-2018 19:31 via news.yahoo.com
  Two partners of President Donald Trump's former national security advisor Michael Flynn were indicted Monday over an Ankara-backed scheme to remove Turkish dissident cleric Fethullah Gulen from the United States.The Justice Department charged Bijan Rafiekian, aka Bijan Kian, 66, of San Juan Capistrano, California, and Kamil Ekim Alptekin, 41, of Istanbul, with acting as unregistered agents of the Turkish government and lying to the FBI over the 2016 scheme.
  
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• Goldman Legal Woes Mount as Malaysia Slaps First Criminal Charge

  17-12-2018 19:31 via news.yahoo.com
  The country filed the first criminal charges against the U.S. bank in the global corruption probe on Monday, after publicly urging Goldman to come to the negotiating table or face litigation.The firm already is in the thick of investigations by U.S. prosecutors and regulators over Goldman’s conduct in the controversy.Malaysian authorities allege that Goldman misled investors when the bank knew that proceeds from 1MDB bond sales it arranged would be misappropriated.
  
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• Corbyn Proposes No-Confidence Motion in PM May: Brexit Update

  17-12-2018 19:19 via news.yahoo.com
  After his office said first that Labour leader Jeremy Corbyn would propose a no-confidence motion in May -- and then said that he didn’t need to because she’d announced a date for a vote -- he has now said he’ll propose such a motion immediately.This is a motion of no confidence in May, not in her government, so it’s not the type that could potentially trigger a general election.For that reason it has a greater chance of passing, as some Conservatives opposed to May&rsquo
  
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• California wildfires: Cleanup workers fired after posting ‘abhorrent’ photos from Paradise

  17-12-2018 19:08 via news.yahoo.com
  Three California workers have been fired after posing for “abhorrent” photos amid the destruction left behind by last month’s deadly Camp Fire.Bigge Crane and Rigging Co worker Rob Freestone posted photos of himself and others on Facebook from the cleanup efforts in the town of Paradise, which was destroyed last month when flames scorched through the area.Mr Freestone was fired alongside two others for the photos, according to a posting from the company over the weekend.
  
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