Category Archives: Stock Market News

Brazil Supreme Court denies request to release JBS brothers By Reuters

© Reuters. The logo of Brazilian meatpacker JBS SA is seen in the unit in the city of Jundiai SAO PAULO (Reuters) – Brazil Supreme Court Justice Gilmar Mendes on Friday denied a request to release from jail Joesley and Wesley Batista, the brothers who control the world’s largest meatpacker JBS SA. The Batistas’ defense challenged the detention of the brothers after their arrest last week by federal police in a probe into the use of privileged financial information about JBS stocks and currencies in the Brazilian […]

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Wells Fargo hires new law firm to prepare CEO for Senate appearance By Reuters

© Reuters. Tim Sloan, CEO and President of Wells Fargo & Co., speaks during the Milken Institute Global Conference in Beverly Hills By Dan Freed NEW YORK (Reuters) – Wells Fargo & Co. (N:) has hired law firm Sidley Austin to take the lead in preparing Chief Executive Tim Sloan for his appearance before the U.S. Congress next month to answer questions about a year-long sales practices scandal, according to four sources with knowledge of the decision. Sloan will appear before the Senate Banking Committee, which writes […]

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‘Unfit’ Uber stripped of London license, CEO tweets ‘pls work w/us’ By Reuters

© Reuters. A London cab passes a hoarding with images of some of the city’s landmarks, in central London By Costas Pitas LONDON (Reuters) – London deemed Uber unfit to run a taxi service on Friday and stripped it of its license to operate from the end of next week in a major blow to the U.S. firm and 3.5 million users in one of the world’s wealthiest cities. Graphic: Uber stripped of London license – http://tmsnrt.rs/2jQOqKD In a break with the startup’s usual combative tone, Uber’s […]

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Rising risks mean itchier trigger fingers By Reuters

© Reuters. The Wall Street sign is seen outside the New York Stock Exchange By Saqib Iqbal Ahmed NEW YORK (Reuters) – A long stretch of low volatility for U.S. stocks has made betting on continued calm a popular and lucrative trade, but traders and strategists warn that risks to the trade have mounted, while the potential for profits has shrunk. U.S. equity market volatility – the daily fluctuations in stock prices – has hovered near record lows for much of this year. The CBOE Volatility Index […]

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Zuckerberg to sell up to $12.8B in shares for charity By Seeking Alpha

Facebook filing: Zuckerberg to sell up to $12.8B in shares for charity By Seeking Alpha ‘; Stock Markets1 hour ago (Sep 22, 2017 07:10PM ET) © Reuters. Facebook filing: Zuckerberg to sell up to $12.8B in shares for charity Updating today’s fast-moving Facebook ( -0.3%) stories: Following initial reports that the company had settled a class-action lawsuit over share reclassification, Facebook disclosed it was dropping its plans for the restructuring altogether. Facebook had said that the plan it revealed last year — to issue reclassified […]

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U.S. judge will not disturb Wilmington Trust indictment linked to crisis By Reuters

© Reuters. U.S. judge will not disturb Wilmington Trust indictment linked to crisis By Jonathan Stempel NEW YORK (Reuters) – A federal judge in Delaware on Friday refused to let four former Wilmington Trust executives charged with bank fraud gather new evidence they hoped would prove that their indictment was tainted by false grand jury testimony and should be dismissed. U.S. District Judge Richard Andrews’ decision preceded a scheduled trial next month of the former executives and Wilmington, the first recipient of federal bailout money in the […]

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ADP rejects Ackman’s request to use universal proxy card By Reuters

© Reuters. William ‘Bill’ Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City (Reuters) – Automatic Data Processing Inc (O:) rejected billionaire hedge fund manager William Ackman’s request to use a universal proxy card during the human resources outsourcing company’s annual shareholder meeting. Switching to the universal voting card process from the customary voting process in electing board members would result in “significant risks of confusion and disenfranchisement”, ADP said in a letter to Ackman on […]

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U.K. credit rating cut by Moody’s on weakening growth outlook By Seeking Alpha

U.K. credit rating cut by Moody’s on weakening growth outlook By Seeking Alpha ‘; Stock Markets14 minutes ago (Sep 22, 2017 05:27PM ET) © Reuters. U.K. credit rating cut by Moody’s on weakening growth outlook Moody’s downgrades the U.K.’s credit rating by a notch to Aa2 from Aa1, saying the country’s weakening growth outlook will exacerbate fiscal pressures, while revising the outlook to stable from negative, The ratings agency says the outlook for the UK’s public finances has weakened significantly, with the government’s fiscal consolidation […]

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Dow Posts Weekly Gain, Shrugs off Geopolitical Uncertainty By Investing.com

© Reuters. Investing.com – U.S. stocks closed mostly unchanged on Friday amid escalating U.S.-N.Korea tensions after President Donald Trump and North Korean leader Kim Jong un traded insults amid expectations that Pyongyang is preparing to test a nuclear bomb. The closed higher at 22349.59. The closed 0.06% higher while the closed at 6426.92, down 0.46%. Investors had to content with renewed political uncertainty as President Donald Trump reacted to Kim Jong-un’s earlier insult calling Trump a “mentally deranged U.S. dotard” and hinting that Pyongyang was preparing to […]

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With trial looming, Facebook settles suit over C shares By Seeking Alpha

With trial looming, Facebook settles suit over C shares By Seeking Alpha ‘; Stock Markets37 minutes ago (Sep 22, 2017 03:36PM ET) © Reuters. With trial looming, Facebook settles suit over C shares Facebook ( -0.6%) has settled a class-action lawsuit over a share reclassification that would affect CEO Mark Zuckerberg’s control of the $494B company. Terms of the settlement weren’t disclosed, but a trial was set to begin today featuring testimony from high fliers on Facebook’s board: Zuckerberg, Marc Andreessen, Bill & Melinda Gates […]

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