Wall Street hits ‘pause’ after two-day surge
(Reuters) – Wall Street treaded water on Thursday following two days of strong gains as advancing utilities offset declines in materials, banks and other cyclical industries.
Viacom CEO Dauman seeks trial by end-Sept over Redstone trust
(Reuters) – Viacom Inc Chief Executive Officer Philippe Dauman has asked a Massachusetts court to expedite a legal challenge to his removal from a trust that will determine the entertainment company’s future after controlling shareholder Sumner Redsto…
Tiffany’s ‘old-world luxury’ fails to charm millennials
(Reuters) – For Alan Feid, a 28-year-old looking to buy an engagement ring for his fiancée, the rings he found in the diamond district in Manhattan were just as good as the ones he saw at Tiffany & Co’s flagship store on Fifth Avenue. And they cost less than half the price.
U.S. rates may rise ‘fairly soon,’ Brexit a concern: Fed’s Powell
WASHINGTON (Reuters) – The U.S. Federal Reserve on Thursday continued to lay the groundwork for an interest rate increase in the next two months, with a senior policymaker saying the economy will likely be ready for such a move “fairly soon.”
Saudi Aramco boosting market share as it prepares for listing: CEO
KHOBAR, Saudi Arabia (Reuters) – Saudi oil giant Aramco is gaining market share and pushing for greater efficiency, chief executive Amin Nasser said in an interview, as it acts as a “bridge” to a future when the nation relies less on energy exports.
McDonald’s CEO says $15 hourly wage, robots won’t kill jobs
OAK BROOK, Ill./LOS ANGELES (Reuters) – U.S. restaurant operators would probably not replace workers with robots if they had to pay the $15 hourly wage demanded by protesters, McDonald’s Corp Chief Executive Officer Steve Easterbrook told shareholders …
U.S. business spending mired in weakness, but economy picking up
WASHINGTON (Reuters) – U.S. business spending intentions weakened in April for a third straight month amid soft demand for machinery, but a surge in contracts to purchase previously owned homes to a 10-year high supported views economic growth was gain…
U.S. Virgin Islands sues Takata, Honda over airbags
(Reuters) – The U.S. Virgin Islands sued Takata Corp and Honda Motor Co late on Wednesday over the sale of millions of recalled airbags linked to deadly ruptures.
Oil tests out $50 a barrel as supply concerns resurface
NEW YORK (Reuters) – Oil prices tested the $50-per-barrel mark on Thursday as production outages brought a faster-than-expected recovery to an oversupplied market many thought will stay depressed through the year.
Don’t lie, don’t cheat, don’t start rumors, says new FX code
LONDON (Reuters) – The first global code of conduct for currency trading has banned dealers from lying and starting false rumors as part of new guidelines aimed at rebuilding trust in a foreign exchange market plagued by scandals and accusations of man…
