Stocks mixed as strong U.S. retail sales offset weak European manufacturing data
A gauge of global stocks fell on Thursday after underwhelming manufacturing surveys from Asia and Europe, though it pared losses as Wall Street edged higher on strong U.S. retail sales data and earnings from industrial companies.
Exclusive: New York Fed cracks down on Puerto Rico banks following Venezuela sanctions
U.S. sanctions on Venezuela have led the New York Federal Reserve to crack down on Puerto Rico’s $50 billion offshore banking industry, according to four sources and a document seen by Reuters.
Oil prices inch up on signs of tightening global supply
Oil futures edged up on Thursday as a drop in crude exports from OPEC’s de facto leader, Saudi Arabia, and a draw in U.S. drilling rigs and oil inventories supported prices.
Wall Street closes slightly higher, industrials lead
Industrials led the S&P 500 and the Dow moderately higher on Thursday after robust U.S. economic data and some healthy corporate earnings reports.
Risk of U.S. ‘profit recession’ eases as results beat forecasts
The initial earnings results of this reporting period are beating expectations by a wide margin, suggesting to some investors that the S&P 500 may be able to avoid a so-called “profit recession” this year because predicted economic bad news has failed to materialize.
GM CEO Barra’s pay dipped slightly to just under $22 million in 2018
General Motors Co’s top executive, Mary Barra, received a compensation package worth just under $22 million in 2018, slightly less than the previous year, according to the No. 1 U.S. automaker’s proxy statement released on Thursday.
New North American trade deal would boost U.S. economy, U.S. commission finds
The U.S. International Trade Commission estimated the proposed new North American free trade deal would modestly boost the U.S. economy but could reduce U.S. vehicle production.
Hudson Media chief James Cohen to buy National Enquirer
American Media Inc (AMI) said on Thursday it is selling its tabloid the National Enquirer to James Cohen, chief executive officer of Hudson Media.
Exclusive: Venezuela skirts U.S. sanctions by funneling oil sales via Russia
President Nicolas Maduro is funneling cashflow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters.
Automakers invest heavily in electric vehicles despite still-low demand
Demand for electric vehicles remains low in the U.S. market, but industry executives at the New York auto show this week said they are pushing ahead with billions of dollars in investments even while preaching patience.
