U.S. consumer spending solid; income gain smallest in 15 months
U.S. consumer spending rose for a seventh straight month in September, but income recorded its smallest gain in more than a year on moderate wage growth, suggesting the current pace of spending was unlikely to be sustained.
Wall Street claws back as financials lead
U.S. stocks gained on Monday, helped by relief over Italy maintaining its debt rating, as equities clawed back from a sharp sell off last week.
Tech recovery helps global stocks rebound after choppy week
A recovery in technology stocks following IBM Corp’s $34 billion deal to buy Red Hat Inc and Standard & Poor’s decision to leave Italy’s ratings level unchanged helped global stocks rebound on Monday after choppy sessions last week.
GM says Obama-era fuel efficiency rules not ‘feasible’: filing
General Motors Co said that Obama era rules aiming to hike fleetwide fuel efficiency to more than 50 miles per gallon by 2025 are “not technologically feasible or economically practicable” and called for a more modest annual increase in requirements.
Pot firm Curaleaf shares fall on debut after record equity raise
U.S. cannabis retailer Curaleaf Holdings Inc opened lower in its trading debut in Toronto on Monday after amassing $400 million in the biggest equity raising in Canada’s marijuana industry.
Oil falls as concern deepens over global economic outlook
Oil prices dropped on Monday as concern over the global economy put crude on track for its biggest monthly fall since mid-2016.
Wall Street rebounds with help from auto, tech stocks
U.S. stock indexes rose on Monday, as gains in auto stocks, a recovery in tech company stocks and relief over an unchanged sovereign rating on Italy helped a rebound from last week’s steep global selloff.
Trump’s sanctions on Iran tested by oil-thirsty China, India
Shortly after U.S. President Donald Trump announced in May he would reimpose sanctions on Iran, the State Department began telling countries around the world the clock was ticking for them to cut oil purchases from the Islamic Republic to zero.
Car stocks and Italy rating relief drive Europe’s recovery
European shares climbed and Wall Street was set for a stronger open on Monday thanks to a surge in autos stocks and relief that Italy dodged a ratings downgrade.
Hitachi agrees to buy Elliott’s stake in Italy’s Ansaldo STS, ending feud
Hitachi has wrapped up a bitter feud with U.S. activist investor Elliott over Ansaldo STS , agreeing to buy the fund’s stake in the Italian rail signaling group as part of a move to take full control.
