Economy


Struggling apparel retailer Bebe to shut all stores Struggling apparel retailer Bebe to shut all stores
- April 21, 2017

The closure of the stores isn't entirely surprising - Bebe had said in a separate filing last month that it was "exploring strategic options". The California-based Bebe retailer 180 stores at the end of 2016. Shares of the company hit a 14-month low of $3.02 in morning trading. The company could not immediately be reached for comment. Net sales at Bebe fell 13.5 percent in the first six months of its current fiscal year, which ended December 31. (more...)
Bond trading surge helps Morgan Stanley report strong quarterly earnings growth Bond trading surge helps Morgan Stanley report strong quarterly earnings growth
- April 20, 2017

Great West Life Assurance Co. Adirondack Trust Co. boosted its position in shares of Morgan Stanley by 2.5% in the first quarter. Zacks Investment Research also rated the stock with a value of 2.25. The bank's first quarter payout represents a sweet raise of 20% from a year earlier, seeing as employees earned $67,233 on average in the first three months of 2016. (more...)
Grayson Allen to return to Duke for senior season Grayson Allen to return to Duke for senior season
- April 19, 2017

Allen averaged 14.5 points, good for third on the Blue Devils, as well as a team-best 3.5 assists. Are Duke basketball fans falling all over themselves, or is that just Grayson Allen? On NBADraft.net , a website that makes draft projections, Allen is not even listed while 2016-2017 teammates Jayson Tatum, Luke Kennard and Harry Giles are all projected to go in the first round. (more...)
Trump Vows to Fix Wisconsin Dairy Situation
- April 19, 2017

The U.S. dairy sector and state agriculture officials urged President Trump to take immediate action against Canada's repeated and escalating disregard for its trade obligations under NAFTA. Trevor Hargreaves with the BC Dairy Association dismissed Trump's call, and defended the Canadian system. Both are shielded from open trade in the existing North American Free Trade Agreement, employ more than 200,000 people in Canada, and claim a similar economic value of $14-15 billion to Canada's GDP. (more...)
Bayern keeper Manuel Neuer fractures foot
- April 19, 2017

However, Bayern's numerical disadvantage told after Vidal saw his second yellow card and Ronaldo made the most of an assistant referee's leniency to complete his hat-trick. The card given to Arturo [after 84 minutes] wasn't a card. While there was some doubt over the legitimacy of his second effort at Santiago Bernabeu, the same questions were asked of his third. (more...)
Kapanen scores double OT winner as Leafs beat Capitals 4-3 Kapanen scores double OT winner as Leafs beat Capitals 4-3
- April 18, 2017

Washington Capitals defenseman John Carlson (74) celebrates his goal against the Toronto Maple Leafs with right wing Justin Williams (14) and left wing Andre Burakovsky (65) during the second period in Game 2 of an NHL Stanley C. Babcock said he is not concerned about the energy level of his defense, particularly Gardiner and Rielly, for Game 3. "We've got lots of training staff". (more...)
Investigating video showing youth tied to army jeep, says Army Investigating video showing youth tied to army jeep, says Army
- April 15, 2017

A voice speaking Hindi in the background can be heard saying "stone throwers will meet a similar fate" as bystanders watched the vehicle pass. Both the video has raged a storm on social media websites. Indian soldiers regularly come under attack from civilians throwing stones in the Muslim-majority region. Army on Friday said it is investigating a video in which a youth was seen tied allegedly to an army jeep as a human shield against stone pelting. (more...)
Uber Fires Back at Google Spinoff in Self-Driving Car Case Uber Fires Back at Google Spinoff in Self-Driving Car Case
- April 13, 2017

Otto's founder, Andrew Levandowski is a former Google employee who resigned and was eventually accused of stealing more than 14,000 documents pertaining to the self-driving auto technology. The case doesn't look great for Uber, however. However, Uber claims Tyto didn't include any former Waymo staff. Uber goes on to claim that - unlike Waymo - it has developed a four-lens optical system for the lidar sensor, with two lenses to transmit the laser source, and another two to receive the ... (more...)
UK unemployment rate stays at 4.7 per cent UK unemployment rate stays at 4.7 per cent
- April 13, 2017

Accordingly, we continue to think that CPI inflation will climb to about 3.5% by the end of this year, thereby peaking earlier and higher than the MPC expects. "However, all countries are now seeing an increase in food prices as a result of the upward trend in global food prices". Sterling rose momentarily following the announcements before slipping back to a 0.1% drop against the USA dollar at 1.241, and a 0.1% fall versus the euro at 1.170. (more...)
KFC to stop using chickens raised with human antibiotics at US restaurants KFC to stop using chickens raised with human antibiotics at US restaurants
- April 08, 2017

The fast-food chain said the change will be completed by the end of next year at its almost 4,200 restaurants in the USA, thus becoming the latest company to switch to more natural and healthy food product. Using data from a 2017 WATT PoultryUSA survey, the Natural Resources Defense Council (NRDC) estimates that more than 42 percent of the USA chicken industry is either under an antibiotics stewardship pledge or has already converted to responsible practices. (more...)
Billy Walters Convicted In Insider Trading Case Billy Walters Convicted In Insider Trading Case
- April 08, 2017

At one point , assistant USA attorney Brooke Cucinella told the jury, Walters purchased 1.5 million shares of Dean Foods just minutes after Davis left him a phone message telling him the company was spinning off part of its business and was about to report a surprisingly robust earnings announcement. (more...)
FM Arun Jaitley moves GST Bills in Rajya Sabha
- April 07, 2017

There will be cap rate of 40 per cent, Jaitley said. The GST regime will subsume central excise on goods other than petroleum products, service tax on taxable services and VAT on sale or purchase of goods. In the current GSTN structure, the Centre and the states together hold 49 per cent stake and the rest is owned by private banks and financial institutions. (more...)
Markets Right Now: US stocks are off to a mixed start Markets Right Now: US stocks are off to a mixed start
- April 07, 2017

Currently, the stock carries a price to earnings ratio of 30.04, a price to book ratio of 4.21, and a price to sales ratio of 6.43. Constellation Brands would be especially vulnerable to a House Republican proposal to impose a border adjustment tax on imported goods, given its Mexican beer portfolio. (more...)
Misbah to retire after test series against West Indies Misbah to retire after test series against West Indies
- April 07, 2017

Pakistan's most successful skipper Misbah-ul-Haq will retire after the upcoming Test series against the West Indies , he announced Thursday, ending months of speculation over his future. He took over the captaincy in 2010, reshaping the country's reputation and squad after the spot fixing scandal in England that threatened to tear Pakistan cricket apart. (more...)
German Cabinet OKs rules to not recognize child marriages German Cabinet OKs rules to not recognize child marriages
- April 06, 2017

The companies will have 24 hours to remove hate speech and fake news posts that breach German law after they are flagged by users. The legislation was proposed by Federal Minister of Justice Heiko Maas to "substantiate the existing obligation to remove hate crime and malicious fake news" by the operators of social media services. (more...)
Trump signs repeal of US broadband privacy rules
- April 05, 2017

Another campaign , started by Misha Collins of Los Angeles, has raised more than $81,000 toward a goal of publicizing the internet history only of lawmakers who voted in favor of killing the FCC privacy rules. Verizon Chief Privacy Officer Karen Zacharia stated directly that Verizon doesn't put its customers' browsing history up for sale. The new law preserves a two-track regulatory system that treats internet service providers - the companies that connect you to the internet, which are ... (more...)
Marking 'Equal Pay Day' when women catch up to men
- April 05, 2017

It's Equal Pay Day today, which means the social justice movement and its enabling liberal media are doing their best to bring awareness to something that doesn't exist: the wage gap. Women responded better to the idea that men and women on average make different choices about how to balance work and family responsibilities and that might explain differences in pay. (more...)
Ford Motor Company (NYSE:F) Reviewed By Analysts Ford Motor Company (NYSE:F) Reviewed By Analysts
- April 05, 2017

Total vehicle sales were, on average, expected to come in at a seasonally adjusted annual rate of 17.4 million units, down from a 17.6-million-unit rate. Toyota , Ford , Fiat Chrysler and Honda each reported sales declines for March, all due to tumbling vehicle sales. Ford Motor Company had a net margin of 3.08% and a return on equity of 23.23%. (more...)
SNP's Nicola Sturgeon ISSUES formal demand for new Scottish referendum
- April 04, 2017

Scotland's First Minister Nicola Sturgeon has written to UK Prime Minister Theresa May to formally demand a second vote on her country's independence. David Mundell, Scottish Secretary in Parliament, has already said the Government will reject the request. Sturgeon's predecessor Alex Salmond frequently threatened to hold a non-binding "consultative referendum" in 2012, before London relented and approved the legally binding poll in 2014. (more...)
Trump to sign executive orders targeting trade abuses Trump to sign executive orders targeting trade abuses
- April 03, 2017

The study of trade abuses appeared aimed at justifying unilateral retaliatory trade actions by the United States, said Matt Gold, a former deputy assistant US trade representative who is now an adjunct trade law professor at Fordham University in NY. (more...)
US Sanctions N. Korean Coal Firm, 11 Individuals
- April 03, 2017

Trump's deputy national security adviser, K.T. McFarland, said there was a "real possibility" North Korea could be capable of hitting the United States with a nuclear-armed missile by the end of Trump's four-year term, the Financial Times reported . (more...)
Lawmaker: White House wrong to withhold intelligence documents Lawmaker: White House wrong to withhold intelligence documents
- April 02, 2017

It's a strategy that may be making the challenges more intractable by the hour. President Trump himself weighed in this morning about this with a tweet. He then refused to answer any further questions so he could move on to demonstrating Ivanka Trump's new line of diamond toe rings. For now, the House chair has cancelled all committee meetings and plans to delay his investigation into whether members of Trump's campaign were in collusion with Russian efforts to rig the presidential election. (more...)
Winter storm warning issued through Saturay Winter storm warning issued through Saturay
- April 02, 2017

Saturday . The heaviest of the precipitation will hold off until Friday afternoon and night , with an extended period of sleet possible during that time. Snowfall amounts will be higher across the Rockies and Palmer Divide, where snowfall could reach or exceed a foot. The weather service and the Massachusetts Department of Transportation cautioned drivers to avoid roads where flooding is likely Saturday morning. (more...)
Stocks end 1Q with solid gains after day of listless trading
- April 02, 2017

While the SPX slipped 0.04% in March, its 5.5% first-quarter gain marked its best quarter since 2015. The S&P 500 and the Dow are on track to score a 5% gain for the quarter, the biggest gain since 2013. The stock added $4.52 to $37.26. Oil prices climbed back above the highly watched $50 mark today, amid heightened expectations the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members will extend their output-cut agreement past June. (more...)
May Comes Under Pressure to Protect the Rights of Gibraltar May Comes Under Pressure to Protect the Rights of Gibraltar
- April 01, 2017

The guidelines say: "After the United Kingdom leaves the Union, no agreement between the EU and the UK may apply to the territory of Gibraltar without the agreement between the kingdom of Spain and the UK". In 2002, they also voted to reject the idea of shared sovereignty between the United Kingdom and Spain. But even in their draft form, Chief Minister Fabian Picardo said the move was discriminatory and "unnecessary, unjustified and unacceptable", adding that this was a "predictable ... (more...)
Speaker shares Trump criticism of Freedom Caucus Speaker shares Trump criticism of Freedom Caucus
- March 31, 2017

President Trump is warning conservative lawmakers in the House that a fight is coming if they don't "get on the team, & fast". "If this Republican Congress allows the ideal to be the enemy of the good, I worry we'll push the president into working with Dems", Ryan said , in an interview with CBS News' Norah O'Donnell on "CBS This Morning". (more...)
Top aide to President Donald Trump leaves administration
- March 31, 2017

Walsh, a native of St. Louis , was not only second in command to Chief of Staff Reince Priebus but also served as his chief of staff on the presidential campaign, and with Sean Spicer was one of several campaign aides handpicked to join Priebus in the Trump administration. (more...)
Fox News criticized for 'news alert' about Trump's weekend Fox News criticized for 'news alert' about Trump's weekend
- March 28, 2017

On Sunday Trump played golf for the 13th time since taking office, in the process also marking the eighth consecutive weekend he had spent at a property that he personally owns, according to CNN . The White House said that Trump's golf trip actually was a series of meetings, but photos posted on Instagram and Twitter show that the president was hitting the links. (more...)
Banks get dollar surplus as CBN offers $100 million Banks get dollar surplus as CBN offers $100 million
- March 28, 2017

The Central Bank of Nigeria, CBN , has ordered Nigerian banks to sell the dollar at a rate of N360 per unit to its customers with immediate effect. This is as the naira has continued to do extremely well in the black market, firming at N375/$1 in most Bureaux De Changes in Abuja. (more...)
French presidential debate dominated by Islam and Burkini row
- March 22, 2017

Emmanuel Macron, left, greets Francois Fillon. Polls now show Mr. Fillon, the one-time favourite, crashing out in the first round behind Ms. Le Pen and Mr. Socialist candidate Benoit Hamon came in last. "Do not use it to divide the French", he said, accusing Le Pen of transforming "the over four million French people, whose religion is Islam.into enemies of the Republic". (more...)