S&P flat as tech boost offsets Turkish currency worries
The S&P 500 index treaded water on Monday as high-flying companies such as Apple and Amazon hit record highs, offsetting declines in shares of U.S. lenders due to a plunge in Turkish lira.
World equities slip on Turkey currency woes
NEW YORK – Turkey’s worsening currency crisis sent world equities lower and cut into the value of emerging market stocks and currencies on Monday, while boosting the prices of German bonds and other stable assets.
Citigroup says card chief Linville leaving in reorganization
Citigroup Inc said Jud Linville, head of global cards and consumer services, is leaving the bank as part of a reorganization of executives in its global consumer banking businesses.
Tourists find silver lining in Turkey’s lira crash
Visitors to Turkey flocked to its high-end shops to snap up bargains on Monday, their purchasing power buoyed by a currency crisis as the country’s lira sank to a record low beyond 7 per dollar.
Turkey must ensure independence of central bank: Merkel
German Chancellor Angela Merkel urged Turkey on Monday to ensure the independence of its central bank as other senior officials said that Turkey’s economic woes were causing great concern.
NRF lifts 2018 U.S. retail sales forecast on strong job market, tax reform
The National Retail Federation on Monday raised its U.S. retail sales forecast for 2018, citing higher wages, gains in disposable income and a strong job market that have boosted consumer spending.
Tech gains push Wall St. higher, offsets Turkey currency worries
U.S. stock indexes inched higher on Monday as shares of technology companies gained, offsetting a plunge in the Turkish lira that weighed on shares of big U.S. lenders.
Musk says Saudi fund supports Tesla buyout, talks continue
Tesla Chief Executive Elon Musk said on Monday he was still in talks with potential backers of a possible buyout of the company, including Saudi Arabia’s sovereign wealth fund, but had not completed securing the funding.
Roundup cancer verdict sends Bayer shares sliding
Bayer shares plunged as much as 14 percent on Monday, losing about $14 billion in value, after newly acquired Monsanto was ordered to pay $289 million in damages in the first of possibly thousands of U.S. lawsuits over alleged links between a weedkill…
Independent labels urge EU to block Sony’s $2.3 billion bid for EMI
Independent music labels group Impala has called on EU antitrust regulators to block Sony Corp’s bid to become the world’s largest music publisher with its $2.3 billion offer for control of EMI, saying the combination would have too much market power.
