Global stocks rise after strong earnings, deal news; data lifts U.S. yields
World stock markets were buoyed by deal-making news and solid earnings from Dow components Cisco and Walmart on Thursday while strong economic data pushed U.S. bond yields higher even as investors struggled to make sense of the latest developments in g…
Fed should wait for faster wage growth before raising rates: Kashkari
The Federal Reserve should allow labor markets to strengthen further and only raise interest rates if wages start to rise so fast that they signal suddenly higher inflation, Minneapolis Fed President Neel Kashkari said Thursday.
Five more U.S. states sue OxyContin maker Purdue Pharma over opioid epidemic
Five U.S. states on Thursday filed lawsuits accusing Purdue Pharma LP of illegally marketing and selling opioids, escalating the wave of litigation over a nationwide abuse epidemic.
Huawei to challenge U.S. export sanction which it says will harm America
Huawei Technologies said on Thursday it will challenge a decision by the U.S. Commerce Department to add the Chinese company to a export blacklist, warning the decision “will do significant economic harm to the American companies with which Huawei does…
Oil gains 2% as Middle East conflict intensifies
Oil prices jumped 2% on Thursday as tensions in the Middle East grew, with a Saudi-led coalition launching air strikes in retaliation for recent attacks on its oil infrastructure.
Huawei to seek remedies after being blacklisted by United States
Huawei said on Thursday that it would seek ways to resolve the issue after the U.S. Commerce department blacklisted the Chinese telecoms equipment maker the previous day.
Wall St. gains on better-than-expected earnings, robust economic data
U.S. stock indexes extended gains to trade more than 1% higher on Thursday, as optimism was driven by upbeat earnings from Cisco and Walmart as well as robust economic data that underlined the strength of the domestic economy.
Investors renew calls for Deutsche Bank to trim investment bank
Deutsche Bank investors are renewing calls for it to scale back its investment bank division ahead of what promises to be a challenging annual shareholder meeting next week.
Fed needs to let inflation rise above 2%, Kashkari says
Low U.S. inflation expectations are sapping the Federal Reserve’s ability to respond to a future downturn, Minneapolis Fed President Neel Kashkari said Thursday, calling for the Fed to allow inflation to rise above 2% to bring the economy back to full …
Five U.S. states sue Purdue Pharma over marketing, selling of opioids
Five U.S. states on Thursday filed lawsuits accusing Purdue Pharma LP of illegally marketing and selling opioids, including OxyContin, contributing to a nationwide epidemic.
