Monday 23 July 2018

Wall Street rises as climbing yields boost financials

Wall Street rises as climbing yields boost financials

Wall Street stocks largely rose on Monday as a jump in 10-year bond yields boosted financials and as news of upcoming international trade talks offset the negative impact of the strengthening U.S. dollar on corporate earnings forecasts.

Bond yields rise worldwide on stimulus concerns; earnings loom

Fears that monetary policymakers in the U.S. and Japan will scale back support for the economy sent quivers through debt markets on Monday, while U.S. stocks gained ahead of major company earnings reports.

Blackstone wins EU approval to buy Thomson Reuters unit

U.S. private equity firm Blackstone Group has secured EU antitrust approval to acquire a majority stake in Thomson Reuters' Financial and Risk unit, the European Commission said on Monday.

Crude pulls back as focus returns to oversupply

Oil prices edged lower on Monday as the focus turned to oversupply worries, moving away from escalating tensions between the U.S. and Iran, which had driven prices higher early in the session.

China probes stainless steel imports from Indonesia, EU, Japan, South Korea

China began an anti-dumping investigation on Monday into stainless steel imports worth $1.3 billion, including from a privately owned Chinese mill with operations offshore, after complaints of damage to the local industry.

Halliburton shares plunge on Permian growth worries

Shares of oilfield services provider Halliburton fell by more than 8 percent on Monday after the company warned of moderate growth in the oil and gas-rich Permian Basin and lower third-quarter earnings.

Tesla says supplier discount request was for ongoing projects

Tesla said on Monday that it had asked a small number of suppliers to cut prices on ongoing, long-term projects to improve its future cash flow, after a media report about a discount request sent shares of Tesla down as much as 6.6 percent.

Exclusive: General Electric's power unit faces threat in Saudi Arabia

One of General Electric Co's largest and most valuable customers, Saudi Arabia, is lining up competitors to bid against GE for lucrative power plant work, according to five people familiar with the situation.

Veolia says Laruelle to become CFO, Brachlianoff COO

French water and waste group Veolia said in a statement executive committee member Claude Laruelle had been appointed new chief financial officer while Veolia UK chief Estelle Brachlianoff will be appointed chief operating officer.

Marvel sales help Hasbro soothe Toys 'R' Us headache

U.S. toymaker Hasbro Inc beat expectations for quarterly profit and revenue on Monday as a jump in Marvel toy sales helped it recover ground lost in last year's Toys 'R' Us bankruptcy, sending its shares up as much as 14 percent.

Papa John's shares fall as board adopts 'poison pill'

Shares of Papa John's International Inc fell 8 percent on Monday after the pizza chain said it would implement a "poison pill" stock dilution that would act against any move by founder John Schnatter to take a bigger stake.

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