NEW YORK (Reuters) - Oil hit its highest in more than three years on Wednesday after Saudi Arabia said it intercepted missiles over Riyadh and international tensions about Syria grew.Both U.S. crude and global benchmark Brent traded at the highest levels since 2014 as concerns about airstrikes drove the market higher.Geopolitical concerns overshadowed global crude inventories as the markets’...Read More
BERLIN (Reuters) - Blockchain technology has the potential to shake up the travel industry by giving airlines and hotels a way to bypass controlling intermediaries like Expedia (EXPE.O) or Amadeus (AMA.MC) and gain better access to customer data.Major players including Lufthansa (LHAG.DE) and citizenM hotels are partnering with startups and talking to large corporate clients about whether they can...Read More
Australasian project manager Jon Reynolds and director Peter Wale from Strategic Minerals Plc (LON:SML) update Proactive Investors on developments across their suite of projects.Strategic's now determined the number of shares to be issued to Resilience Mining Australia Limited to complete the acquisition of Leigh Creek Copper Mine Pty Ltd (LCCM) and has arranged the issuance of its shares as laid...Read More
WASHINGTON/SAN FRANCISCO (Reuters) - Facebook Inc Chief Executive Mark Zuckerberg on Wednesday told lawmakers that his own personal data was included in that of 87 million or so Facebook users that was improperly shared with political consultancy Cambridge Analytica.But he pushed back on congress members’ suggestions that users do not have enough control of their data on Facebook in the wake...Read More
NEW YORK (Reuters) - The U.S. dollar weakened against the Japanese yen on Wednesday, as uncertainty over possible Western military action against Syria fed risk aversion even as fears of a trade war between the United States and China faded.The dollar was down 0.27 percent at 106.9 yen.U.S. President Donald Trump warned Russia of imminent military action in Syria over a suspected poison gas attack...Read More
WASHINGTON (Reuters) - U.S. House Speaker Paul Ryan said on Wednesday he has been assured by the White House that President Donald Trump does not intend to fire Special Counsel Robert Mueller or Deputy Attorney General Rod Rosenstein over their Russia probe.“I have no reason to believe that that’s going to happen,” Ryan said at a news conference. “I have assurances that it&...Read More
The price of gold shot to an 11-week high on Wednesday as escalating geopolitical risks saw investors seeking safe haven assets.Gold reached its highest point since January 25 after the most active gold futures contract on the Comex market in New York jumped 2% from its opening levels to reach $1,369.40 an ounce.Get ready Russia, because they will be coming, nice and new and 'smart!'Wednesday saw...Read More
The price of gold shot to an 11-week high on Wednesday as escalating geopolitical risks saw investors seeking safe haven assets.Gold reached its highest point since January 25 after the most active gold futures contract on the Comex market in New York jumped 2% from its opening levels to reach $1,369.40 an ounce.Get ready Russia, because they will be coming, nice and new and 'smart!'Wednesday saw...Read More
LONDON (Reuters) - British manufacturing output fell unexpectedly in February, its first month-on-month drop in almost a year, adding to signs that the economy may have slowed in the first quarter.Wednesday’s data, released along with figures for overseas trade, also showed another sharp drop in construction output, defying expectations for a small rebound after a severe downturn in January....Read More
GE has seen a downward spiral for some timeCowen and Company cut its price target on General Electric Company (NYSE:GE) to $12 from $15, and said it expects the industrial manufacturer to report a first-quarter earnings miss next Thursday morning, and that its upcoming financial restatements for 2016 and 2017 will pressure the "show me" stock. What's more, the brokerage firm said GE's dividend is...Read More
LONDON (Reuters) - Five traders from Deutsche Bank (DBKGn.DE) and Barclays (BARC.L) gamed the financial system to rip off counterparties in a four- year plot to rig benchmark interest rates, prosecutors alleged on Wednesday.James Waddington, a lawyer for the UK Serious Fraud Office (SFO), told London’s Southwark Crown Court that the defendants fixed the odds “in a zero sum game”...Read More
MEXICO CITY (Reuters) - A U.S. proposal that automobiles should be built in high-wage areas within the NAFTA region is partly aimed at increasing engine production in the United States, and more details on the plan are expected this week, Mexican officials said.In an idea aimed at breaking a deadlock in talks, Washington last month suggested some automotive production should happen in areas of Nor...Read More
Inovio Pharmaceuticals is teaming up with CEPITwo biotech stocks are making big moves higher this morning, defying the broad-market headwinds related to geopolitical tensions in Syria. Inovio Pharmaceuticals Inc (NASDAQ:INO) scored a critical partnership, while CymaBay Therapeutics Inc (NASDAQ:CBAY) reported upbeat data on its liver disease drug. INO Stock Could Benefit From Short SqueezeThe Coa...Read More
Safe-haven flows into the gold market havecontinued as the world awaits a possible U.S. military response to suspectedchemical-weapons attacks in Syria, says SP Angel. The commodities brokeragecites news reports that flights of coalition aircraft have been spotted nearthe Syria-Iraq border, and U.S. President Donald Trump intensified preparationsfor a response by cancelling a planned weekend trip...Read More
Safe-haven flows into the gold market have continued as the world awaits a possible U.S. military response to suspected chemical-weapons attacks in Syria, says SP Angel. The commodities brokerage cites news reports that flights of coalition aircraft have been spotted near the Syria-Iraq border, and U.S. President Donald Trump intensified preparations for a response by cancelling a planned weekend...Read More
Apple was ordered to pay VHC more than $500 million on patent infringementShares of VirnetX Holding Corporation (NYSEAMERICAN:VHC) have jumped 17.3% to trade at $4.75, after the security technology firm was awarded $502.6 million in damages after a federal jury in Texas found Apple (AAPL) guilty of patent infringement. Today's pop has VHC stock trading at its highest level since mid-November, and...Read More
WASHINGTON (Reuters) - U.S. House Speaker Paul Ryan, the top Republican in Congress, told Republicans in the House of Representatives on Wednesday he will not seek re-election in November, his office said.The House speaker will serve out his full term and retire in January, Brendan Buck, counselor to the Speaker, said in a statement.“After nearly twenty years in the House, the speaker is pro...Read More
Swiss-based trading and mining giant Glencore will declare force majeure on some aluminium supply, days after the United States sanctioned major supplier Rusal and its boss, metals magnate Oleg Deripaska, a source familiar with the matter said.Glencore is a Rusal shareholder and one of its biggest customers. Glencore Chief Executive Ivan Glasenberg resigned from his role as Rusal director on Tuesd...Read More
Swiss-based trading and mining giant Glencore will declare force majeure on some aluminium supply, days after the United States sanctioned major supplier Rusal and its boss, metals magnate Oleg Deripaska, a source familiar with the matter said.Glencore is a Rusal shareholder and one of its biggest customers. Glencore Chief Executive Ivan Glasenberg resigned from his role as Rusal director on Tuesd...Read More
WASHINGTON (Reuters) - U.S. consumer prices fell for the first time in 10 months in March, weighed down by a decline in the cost of gasoline, but underlying inflation continued to firm amid rising prices for healthcare and rental accommodation.The drop in the headline monthly inflation reading reported by the Labor Department on Wednesday is likely temporary, with producer prices increasing solidl...Read More