Wall Street defensive as inflation fears rise, earnings boost fades
(Reuters) – Wall Street moved to a defensive mode on Friday, shifting into safer equity sectors as economic data raised the specter of inflation and possible interest rate hikes, while technology shares pulled back after an initial surge.
T-Mobile, Sprint finalizing merger terms: sources
(Reuters) – U.S. wireless carriers T-Mobile US Inc and Sprint Corp are finalizing terms as they seek to sign a merger by Monday that could value Sprint at around $26 billion, people familiar with the matter said on Friday.
Refining margins dent Exxon, Chevron first-quarter results
HOUSTON (Reuters) – Weak refining margins dinged first-quarter results for Exxon Mobil Corp and Chevron Corp , though Chevron’s oil production gains outshone its larger rival, which has struggled to turn operations around after recent missteps. …
Tech gains, Korean vibes lift world stock markets; sterling tumbles
LONDON (Reuters) – World stocks rose on Friday, lifted by strong share price gains for tech giants such as Amazon and Facebook and growing hopes of a lasting peace on the Korean peninsula after a ground-breaking meeting of North and South Korean leader…
USTR criticizes 36 nations over IP protection, scrutinizes Canada
WASHINGTON (Reuters) – The United States on Friday labeled 36 countries as inadequately protecting U.S. intellectual property rights, keeping China on its “Priority Watch List” for the 14th straight year and adding Canada and Colombia to that list for …
Amazon, Microsoft boost Nasdaq; Exxon drags on S&P
(Reuters) – Amazon and Microsoft pushed the Nasdaq higher on Friday, but weak reports from Exxon and other energy companies capped gains on the S&P 500 and the Dow Jones Industrial index.
Exxon, Chevron first-quarter results dinged by refining weakness yet again
(Reuters) – Weak refining margins dinged first-quarter results for Exxon Mobil Corp and Chevron Corp , though Chevron’s oil production outshone its larger rival, which has struggled to turn operations around after recent missteps.
Nasdaq surges at open after strong Amazon, Microsoft earnings
(Reuters) – The tech-heavy Nasdaq opened 1 percent higher on Friday after stellar results from Amazon, Microsoft and Intel, while a 3 percent drop in Exxon weighed on the Dow and S&P.
From Volkswagen to Bunge, concession holders in Brazil face hefty bill
BRASILIA (Reuters) – Companies from Brazilian state oil company Petróleo Brasileiro SA to commodities giant Louis Dreyfus Company and German car giant Volkswagen AG could face hefty bills after Brazil’s Supreme Court this month allowed local governments to charge property taxes to operators of public concessions.
Refiner Phillips 66 profit beats as chemicals unit outperforms
(Reuters) – U.S. oil refiner Phillips 66 posted a better-than-expected quarterly profit on Friday, helped by a 28 percent rise in net income from its chemicals unit.
