Under fire from Musk, top fund firms defend securities lending

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Under fire from Musk, top fund firms defend securities lending

Accused by Tesla Inc Chief Executive Elon Musk of making "excessive profit" by lending shares to short-sellers, top index fund companies shot back on Friday that they are only looking out for their investors.

Stocks fall globally after U.S. jobs data, Treasury yields rise again

Major world stock markets sank for a second straight day on Friday after strong U.S. jobs numbers signaled a continued tightening of the labor market and increased inflation pressures, while Treasury yields rose again to multi-year highs.

Oil prices mark weekly gain ahead of Iran sanctions

Crude futures steadied on Friday after climbing to four-year highs earlier this week, and both Brent and U.S. crude marked weekly gains ahead of U.S. sanctions on Iranian oil exports.

Wall Street falls as solid jobs report boosts bond yields

U.S. stocks dropped for a second straight day on Friday, weighed down by another rise in Treasury yields in the wake of a solid jobs report that capped off a week of robust data.

Are transportation stocks the market's canary in a coal mine?

The U.S. transportation sector, which many see as a proxy indicator of the economy's health, has retreated 3.1 percent from its Sept. 14 record, hinting to some analysts that the longest bull market on record has entered its late stages.

Scooter company Bird enters Latin America with launch in Mexico City

California startup Bird said on Friday it has launched its electric scooters in Mexico City, in a key global expansion, as the company seeks to shake up urban transportation.

'Despondent' Musk's Tesla resembles Lehman, Greenlight's Einhorn says

Hedge fund manager David Einhorn lambasted Tesla Inc and its "despondent" Chief Executive Elon Musk on Friday, comparing the electric car company to Lehman Brothers Holdings Inc, where he had flagged accounting problems several months before its 2008 collapse.

Greenlight comment adds to Tesla losses from Musk mocking SEC

Shares of Tesla Inc fell 7 percent on Friday after David Einhorn's hedge fund Greenlight Capital slammed the electric carmaker, adding to losses sparked by CEO Elon Musk mocking the U.S. Securities and Exchange Commission on Twitter.

Buybacks to top use of S&P 500 companies' cash in 2019: Goldman Sachs

S&P 500 companies will increase cash spending by 13 percent to $3 trillion in 2019, with buybacks again expected to represent their largest use of cash, according to Goldman Sachs.

Fidelity's asset management chief Morrison to retire

Fidelity Investments said on Friday that its asset management chief, Charles Morrison, is leaving the company and that it plans to name a replacement in "the near term."

Saudi crown prince pledges Aramco IPO by early 2021: Bloomberg

Saudi Arabia's crown prince insisted the stalled plan to sell shares in oil giant Aramco will go ahead, promising an initial public offering by 2021 and sticking to his ambitious view the state-run company is worth $2 trillion or more, Bloomberg reported on Friday.

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