U.S. oil prices extend gains as equities rise, but economic worries weigh
U.S. oil prices on Thursday extended their sharp climb from the session before amid rising stock markets, but worries over a glut in crude supply and concerns over a faltering global economy kept a lid on gains.
Most shorted stocks log record gain as Wall Street surges
One notable factor in Wall Street’s monster rally on Wednesday was a record gain in an index of stocks that have the largest bets placed against them by market contrarians.
In Japan, a scramble for new workers disrupts traditional hiring
It’s a rite of spring in Japan: Major corporations hire fresh university graduates en masse every April, starting them all at the same salary with assurances of rising pay and lifetime employment.
Exxon continues drilling offshore Guyana as Venezuela lodges complaint
Exxon Mobil Corp said on Wednesday its oil drilling and development activities offshore Guyana were unaffected by a weekend incident in which Venezuela’s navy stopped two exploration vessels the company had hired.
General Dynamics among those winning Pentagon contracts
The U.S. Defense Department said on Wednesday it had awarded contracts for submarine maintenance and modernization to General Dynamics Corp for $1.1 billion, to Huntington Ingalls Industries Inc for $874 million and to Oceaneering International Inc …
Dow notches record point surge in dramatic rebound
The Dow Jones Industrial Average surged more than 1,000 points for the first time on Wednesday, leading a broad Wall Street rebound after a report that holiday sales were the strongest in years helped mollify concerns about the health of the economy.
Ex-Insys CEO to plead guilty to opioid kickback scheme
The former chief executive of Insys Therapeutics Inc has agreed to plead guilty to participating in a scheme to bribe doctors to prescribe a powerful opioid medication in order to boost its sales, U.S. prosecutors said on Wednesday.
South Korea’s SK Innovation bets on Europe, China electric vehicle demand
South Korea’s SK Innovation , a supplier of electric vehicle (EV) batteries to Daimler and Volkswagen , aims to boost production capacity more than tenfold by 2022, betting on global demand.
U.S. trade delegation to travel to China week of January 7 for talks -Bloomberg
A U.S. trade team will travel to Beijing the week of Jan. 7 to hold talks with Chinese officials, Bloomberg reported on Wednesday, citing two people familiar with the matter.
JPMorgan to pay more than $135 million for improper handling of ADRs
JPMorgan Chase & Co will pay over $135 million to settle charges it mishandled so-called “pre-released” American Depositary Receipts (ADRS), the Securities and Exchange Commission announced on Wednesday.
