Dow, S&P 500 rally with energy; Alphabet drops
(Reuters) – U.S. stocks staged a late-day rally on Wednesday as an 8-percent jump in oil prices lifted beaten-down energy shares and financials rebounded.
GM posts record profit in fourth quarter and 2015, but shares skid
DETROIT (Reuters) – General Motors Co reported record quarterly and annual profits on Wednesday and promised 2016 will be even better, but unimpressed investors dumped the automaker’s shares.
Deutsche Bank must face U.S. lawsuit over $3.1 billion mortgage loss: judge
NEW YORK (Reuters) – Deutsche Bank AG must face a U.S. lawsuit seeking to hold it liable for causing $3.1 billion of investor losses by failing to properly monitor 10 trusts backed by toxic residential mortgages, a federal judge ruled on Wednesday.
NYSE’s July 8 halt pushed trading to other exchanges: U.S. SEC
WASHINGTON (Reuters) – When the New York Stock Exchange came to a surprise standstill of more than three hours on July 8, trading simply migrated to other exchanges, according to an analysis released by the U.S. Securities and Exchange Commission on We…
Wells Fargo to pay $1.2 billion in U.S. mortgage fraud settlement
(Reuters) – Wells Fargo & Co said on Wednesday it had agreed to pay $1.2 billion to settle claims that it engaged in mortgage fraud, resolving a major U.S. lawsuit brought in the wake of the 2008 financial crisis.
Comcast revenues beat Street; records big boost in video customers
NEW YORK (Reuters) – Comcast Corp posted better-than-expected fourth-quarter revenue and added the most video customers in any quarter in eight years, even as viewers gravitate toward online offerings.
Toyota pulls the plug on Scion small car brand
(Reuters) – Toyota Motor Corp said on Wednesday it will wind down its Scion brand in the United States, ending a 12-year effort to create a separate identity for small cars aimed at young buyers.
ChemChina’s Syngenta swoop: a 12-year crush, a 12-month courtship
BEIJING/LONDON (Reuters) – A frenetic year of negotiations and setbacks preceded China National Chemical Corp’s (ChemChina) blockbuster $43 billion bid for Swiss seeds and pesticides giant Syngenta .
Preliminary U.S. January truck orders down 48 percent: FTR
CHICAGO (Reuters) – U.S. January Class 8 truck orders fell 48 percent on the year, preliminary data from freight transportation forecaster FTR showed, indicating that 2016 could be another weak year for truck makers.
Global business activity starts 2016 on weak note
LONDON (Reuters) – Global economic growth began 2016 on a weak note, surveys of business activity suggested on Wednesday, and with inflation remaining low central banks are seen under pressure to keep monetary policies easy.
