Stock slump as Greek debt talks show little progress
U.S. stocks fell, as equities trimmed a weekly gain, amid concern Greece won’t reach a deal with its creditors as its debt negotiations drag on.
MONEY (MSM)
Dorsey: 'I believe in' Twitter's strategy
Jack Dorsey, Twitter’s co-founder and incoming interim CEO, said he is committed to maintaining the company’s strategy.
FedEx to take $2.2 billion charge on pension accounting change
The move to mark-to-market accounting will have no effect on employees’ pension benefits or the funding requirements for any pension plans or cash flows, FedEx said on Friday. “Adopting the mark-to-market approach will align our accounting to provide greater transparency by removing certain legacy pension costs from segment operating results and recognizing them in a year-end adjustment,” Chief Financial Officer Alan Graf said in a statement. FedEx also said its
U.S. consumer sentiment climbs in June
The University of Michigan’s preliminary June reading on the overall index on consumer sentiment came in at 94.6, up from the final reading of 90.7 the month before. The survey’s gauge of consumer expectations rose to 86.8 from the final May reading of 84.2 and an expected 85.
Will global volatility disturb U.S. markets' slumber?
Professional traders are betting that the wild volatility across many global asset markets will eventually invade the calm enveloping U.S. stocks.
Former IMF chief Strauss-Kahn acquitted in pimping trial
Former International Monetary Fund chief Dominique Strauss-Kahn was cleared of pimping charges on Friday in France, ending four years of legal drama that began with a sexual assault charge in a New York …
US wholesale prices jump 0.5 percent in May
Prices at the wholesale level rose at the fastest pace in nearly 3 years in May, pushed higher by a sharp jump in the cost of gasoline and a record increase in the price eggs related to an outbreak of …
Gartman: Emerging market flows will go straight to US
The money that has poured out of emerging market funds is no cause for concern for financial markets, as it will be supportive for developed market equities, according to widely-followed investor Dennis …
Oil slips as Saudis stand by to raise production
Oil prices on Friday gave up gains made earlier this week after the world’s top crude exporter Saudi Arabia said it stood ready to raise output to new record highs, potentially adding to a global supply glut. A stronger U.S. currency against the euro also weighed on the dollar-denominated oil market after the International Monetary Fund pulled out of stalled debt talks with Greece. Saudi Arabia said it was in
Bullish Uber plans to invest $1 billion in China in 2015
SHANGHAI/BENGALARU (Reuters) – Ride-hailing service Uber Technologies Inc plans to invest more than $1 billion in China this year as the controversial ride-hailing app looks to rev up growth in the world’s second largest economy, an executive at the firm said on Friday. In an emailed letter to investors, first published by the Financial Times newspaper, Uber head Travis Kalanick said China was the “number one priority” for the company