Shares of online retailer Zulily are soaring in premarket trading Monday, after Chinese e-commerce powerhouse Alibaba disclosed last week that it bought a stake in the company. Alibaba Group Holding Ltd. …
Ian Winer is head of equity trading at Wedbush Securities and although he’s a rally skeptic, he does see opportunity in individual companies, especially those that leverage themes.
Finance Minister Yanis Varoufakis acknowledged that a deal to ease Greece’s cash crunch was not likely at a meeting of euro zone finance ministers later on Monday despite progress in talks with lenders on some issues. A 750 million euro debt repayment to the IMF falls due on Tuesday but Varoufakis said a deal that would provide some liquidity relief for Greece was more likely in the coming days. “The
Chief financial officers from around the globe are betting on a rebound for the U.S. economy in the next six months.
As gloom gathered over China’s economic outlook in March last year, Goldman Sachs Group Inc. economist Song Yu declared growth likely had “troughed” and a rebound would follow. The top forecaster on China’s economy was proven right, and sees a repeat this year. “Now it’s very similar to this time of last year in terms of having a combination of monetary, fiscal and administrative loosening,” said Beijing-based Song, ranked the
Oil slipped towards $65 a barrel on Monday as signs that U.S. shale oil production was recovering after a recent price rally renewed concerns of a growing global supply glut. China’s latest move to bolster its economy offset some of the losses as it raised hopes that the world’s top energy consumer would help absorb supplies. Brent crude for June was down 30 cents at $65.09 (£42.02) a barrel by
Citigroup Inc said it could plead guilty to an antitrust charge to resolve a U.S. Department of Justice investigation of its dealings in foreign exchange markets. In a regulatory filing on Monday, the company also said the Justice Department had advised that it did not intend to prosecute the bank in a separate investigation into the setting of interest rates between banks. Citigroup is one of six major banks that
President Obama told Yahoo, Senator Warren is ‘absolutely wrong’ in her criticism of a U.S. trade pact with a dozen Asian nations that he says will help protect American interests across the continent.
Commerce Secretary Penny Pritzker says there are new signs China is improving legal protections for western firms.
Japanese automakers Toyota and Mazda are considering a comprehensive tie-up in environmentally-friendly technology amid tightening regulations to cut greenhouse gas and tough emerging market competition, a report said Saturday. Under the partnership, Toyota plans to supply fuel cell and plug-in-hybrid technology to Mazda, which has lagged in electric-vehicle technology, the newspaper said. In return, Mazda will consider offering its proprietary “Skyactiv” green technology to Toyota, which it hopes to use
