ECB seen firmly on hold, set to raise inflation forecast
FRANKFURT (Reuters) – Keeping interest rates firmly on hold, the European Central Bank will probably raise growth and inflation forecasts on Thursday, a rare positive step even as it emphasises persistent negative risks and a readiness to provide more…
Gundlach’s DoubleLine reaches $100 billion in assets under management
NEW YORK (Reuters) – Jeffrey Gundlach’s DoubleLine Capital reached $100 billion in assets under management last month, the Los Angeles-based firm said on Wednesday.
U.S. stocks stage late rebound, dollar slips
NEW YORK (Reuters) – U.S. stock prices rose slightly on Wednesday helped by a late recovery in oil prices and an encouraging economic report from the Federal Reserve, but equity prices in other major world markets fell on worrisome Chinese and European…
Oil down, declines cut by report OPEC mulling output cap
NEW YORK (Reuters) – Oil settled down on Wednesday on technical resistance at around the $50 a barrel mark, with the market retracing most earlier declines after OPEC sources said the group will likely consider a production curb at its forthcoming m…
Taste for gourmet burgers seen heating up U.S beef demand
CHICAGO (Reuters) – As U.S. consumers, especially millennials, look for hamburgers with more flavor and fresher beef, more restaurants are catering to the taste for “better burgers,” a market where one expert said sales could double in five years.
Las Vegas sports gambler’s jet use restricted in insider trading case
NEW YORK (Reuters) – A wealthy Las Vegas gambler pleaded not guilty on Wednesday to charges that he engaged in an insider trading scheme that generated more than $40 million and included a tip that benefited star golfer Phil Mickelson.
Wall St. notches minor gains as economic data pours in
(Reuters) – U.S. stocks fluctuated before closing slightly higher on Wednesday as investors processed data on global manufacturing, U.S. auto sales and inflation for clues about the Federal Reserve’s next interest rate hike.
U.S. May auto sales down 6 percent; sedan sales weak
DETROIT (Reuters) – U.S. auto industry sales fell 6 percent in May, with General Motors Co , Ford Motor Co and other manufacturers reporting lower U.S. vehicle sales for the month due to sluggish demand for sedans and two fewer selling days.
Sanofi requests Medivation set deadline for shareholder consent on board revamp
PARIS (Reuters) – French drugmaker Sanofi said on Wednesday it had submitted a written notice to Medivation requesting the U.S. company’s board set a deadline for shareholders to give their written consent to remove and replace Medivation’s board of …
New York airport’s $4 billion renovation financing deal closes, begins lease
NEW YORK (Reuters) – A $4 billion project to renovate New York’s delapidated LaGuardia Airport finalized its financing on Wednesday, marking the start of a 34-year lease on one of the most complex public-private partnerships in the United States.
