(Refiles to add Moonves first name, title in 3rd paragraph)By Jessica ToonkelJan 17 (Reuters) - Shari Redstone has discussed adding new directors to the board of CBS Corp as she renews her push to merge the company with Viacom Inc , The Wall Street Journal reported Wednesday.CBS and Viacom are both controlled by ailing Sumner Redstone, 94, and his daughter Shari, through their privately owned mov...Read More
Getty ImagesSeveral districts noted in the Beige Book there was an elevated demand for construction labor. The Fed's verdict: The Federal Reserve said the pace of growth continues to be "modest to moderate" in its latest snapshot of the economy known as the Beige Book. The report covers late November to Jan. 8. Most districts reported "on-going labor market tightness and challenges finding qualif...Read More
It's another breakout session for stocks today, with the Dow up around 290 points at last check, and fresh of a new record high. Among individual equities moving higher with the broad market are electric car concern Tesla Inc (NASDAQ:TSLA) and data storage platform Pure Storage Inc (NYSE:PSTG), though pay-TV operator DISH Network Corp (NASDAQ:DISH) is sitting out the day's rally. Here's a closer l...Read More
By Trevor HunnicuttNEW YORK, Jan 17 (Reuters) - U.S. fund investors stampeded into bonds and world stocks during the latest week, ignoring warning signs about stretched prices, according to the Investment Company Institute (ICI).During the week, nearly $17 billion poured into equities, the most in any week since June. Bonds took in even more cash, $19 billion, the most on records that date to 2013...Read More
Gold price is feeding off a growing number of investor worries.Bitcoin's latest setback is also increasing gold demand.Gold has plenty of safety concerns to continue fueling rally.Gold is slowly working its way back into the spotlight as more and more investors become nervous over the possibility that the coming weeks could witness a long-anticipated stock market correction. There is also a be...Read More
BUENOS AIRES, Jan 17 (Reuters) - Argentine thermal and renewable energy producer Genneia SA will consider an initial public offering on the local or international stock market, the company said in a letter to the Buenos Aires stock exchange on Wednesday. The proposal will be discussed at a shareholders meeting on Feb. 7, said the letter from the company, which currently is privately owned.Genneia...Read More
WELLINGTON, Jan 18 (Reuters) - New Zealand house prices posted solid growth in December though the number of sales remained muted, the Real Estate Institute of New Zealand (REINZ) said on Thursday.Nationwide, median house house values rose 1.7 percent compared to the previous month on a seasonally adjusted basis, according to REINZ. Prices were up 5.9 percent anually.The market had made a steady r...Read More
* Boeing shares jump after announcing JV to make aircraft seats* Goldman Sachs slips on trading revenue weakness* Indexes up: Dow 1 pct, S&P 0.9 pct, Nasdaq 1 pct (Updates to late afternoon, changes byline, adds dateline NEW YORK)By April JoynerNEW YORK, Jan 17 (Reuters) - Wall Street's main indexes rose on Wednesday as investors' expectations for higher earnings lifted stocks across sectors.T...Read More
By Karen PierogCHICAGO, Jan 17 (Reuters) - Chicago on Wednesday postponed an $898 million bond sale until next week at the earliest, citing weaker market conditions and the possibility of restructuring the deal to include taxable debt.The revenue bond issue, which topped this week's $3.45 billion supply calendar in the U.S. municipal market, was aimed at refinancing some of Chicago's outstanding g...Read More
At the beginning of every year, we update what's typically one of our most popular pages, the Periodic Table of Commodity Returns. I encourage you to explore 10 years' worth of data on basic materials such as aluminum, zinc and everything in between. A word of warning, though-the interactive feature makes the table highly addictive. Please feel free to share it with friends and family!It was a p...Read More
Gold futures notched a fifth session gain and another four-month high on Wednesday, with the dollar-denominated yellow metal getting a boost as the U.S. dollar failed to see much of a bounce back from recent lows. Prices for the yellow metal eased back a bit from the settlement shortly after the release of the Federal Reserve's Beige Book. February gold GCG8, -0.87% rose $2.10, or nearly 0.2%, t...Read More
Gold futures notched a fifth session gain and another four-month high on Wednesday, with the dollar-denominated yellow metal getting a boost as the U.S. dollar failed to see much of a bounce back from recent lows. Prices for the yellow metal eased back a bit from the settlement shortly after the release of the Federal Reserve's Beige Book. February gold GCG8, -0.79% rose $2.10, or nearly 0.2%, t...Read More
Steve HollandWASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday Russia is helping North Korea get supplies in violation of international sanctions and that Pyongyang is getting “closer every day” to being able to deliver a long-range missile to the United States.“Russia is not helping us at all with North Korea,” Trump said during an Oval Office interview...Read More
David LawderWASHINGTON (Reuters) - The U.S. economy and inflation expanded at a modest-to-moderate pace from late November through the end of 2017, while wages continued to push higher, the Federal Reserve said on Wednesday.“Most districts said that wages increased at a modest pace,” the U.S. central bank said in its periodic Beige Book report on the economy. “A few districts obs...Read More
(New throughout, updates prices and market activity, adds comment and details on funding bill)* Five-year, 30-year spread hits lowest point in over a decade* Two-year yields highest since 2008 By Kate DuguidNEW YORK, Jan 17 - The U.S. yield curve flattened to a decade-low spread between 5-year and 30-year yields and two-year Treasury yields hit a nine-year high on Wednesday on expectations the Fe...Read More
(Adds Beige Book, updates markets)* Industrial production increases 0.9 percent in December* Manufacturing output gains 0.1 percent* Utilities production rises 5.6 percent; mining up 1.6 percent By Lucia MutikaniWASHINGTON, Jan 17 (Reuters) - U.S. industrial production increased more than expected in December as unseasonably cold weather at the end of the month boosted demand for heating, but ma...Read More
* Tech shares lead Wall St higher but Goldman, Bank of America lag* Dollar loses steam after early gains* Oil edges up ahead of inventory data (Updates with European market close)By Chuck MikolajczakNEW YORK, Jan 17 (Reuters) - World shares inched higher on Wednesday as a rebound in technology shares lifted Wall Street, while the dollar relinquished early gains to trade lower after a report sugges...Read More
* U.S. Treasury monitoring more than 100 platforms* U.S. to push other countries for tougher rules* Bitcoin price slumps to half its December peak By Michelle PriceWASHINGTON, Jan 17 (Reuters) - Financial crime fighters at the U.S. Treasury are "aggressively" pursuing virtual currency platforms that lack strong internal safeguards against money laundering, a top official told a Senate p...Read More
* Altmaier: No fixed date for deposit insurance scheme* Eurogroup head Centeno rejects idea of transfer union (Adds Centeno quote)By Joseph Nasr and Michael NienaberBERLIN, Jan 17 (Reuters) - Germany said on Wednesday that euro zone members should first agree on clear parameters for reducing risks in the banking sector before progress can be made toward completing a banking union through a deposit...Read More
* Dollar index falls during mid-day trade* Gold up 8 pct since mid-December* Bets on higher prices rise at record rate (New throughout, updates prices, market activity and comments; adds second byline and NEW YORK dateline)By Renita D. Young and Peter HobsonNEW YORK/LONDON, Jan 17 (Reuters) - Gold prices hovered near four-month highs on Wednesday as the U.S. dollar slipped against a basket of curr...Read More