Ultra Tune executives could face prosecution over ‘cover up’

Executives at automotive services chain Ultra Tune face possible prosecution after the company was accused by a federal court judge of fabricating evidence to mislead regulators and the court as it was slapped with a $2.6 million penalty for breaching franchising and consumer laws. In a judgment handed down on Friday Justice Robert Bromwich found Ultra Tune had failed to […]

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MOVES-BNP Paribas Asset Management names Katharina Anna Rost as sales manager

Jan 16 (Reuters) – BNP Paribas Asset Management said on Wednesday it had appointed Katharina Anna Rost as sales manager to its ETF and indexed fund solutions team in Germany. Rost joined the BNP Paribas SA arm on Jan. 7 from HSBC Global Asset Management, where she was a relationship manager in wholesale sales. (Reporting by Shradha Singh in Bengaluru) […]

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Crude Oil Futures Settle Lower

Crude oil prices rebounded after early weakness but still settled lower on Thursday, amid renewed concerns about excess supply and likely fall in near term energy demand. Despite OPEC-led production cuts, concerns over excess supply in the market still remain. Also, with U.S.-China trade tensions resurfacing again and the Chinese economy not showing any great signs of staging a significant […]

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Charting a persistent rally attempt, S&P 500 nails major resistance

For full access, Log in or Subscribe Now and get 4 weeks free! U.S. stocks are mixed early Thursday, treading water amid constructive price action as the major benchmarks digest respectable January gains. Against this backdrop, the S&P 500 has reached significant overhead — the 2,626-to-2,631 area — detailed repeatedly. The week-to-date peak (2,625.8) has matched resistance, and an extended […]

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U.S. Jobless Claims Fall to Five Week-Low Despite Shutdown

Filings for U.S. unemployment benefits unexpectedly fell to a five-week low, even amid a partial federal government shutdown. Jobless claims declined by 3,000 to 213,000 in the week ended Jan. 12, below economist forecasts, Labor Department figures showed Thursday. The four-week average, a less-volatile measure, declined to 220,750. Key Insights The latest decline in claims, which remain near a historically […]

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Philly Fed business index rises more than expected in January

(.) Jan 17 (Reuters) – The Philadelphia Federal Reserve said on Thursday its barometer on U.S. Mid-Atlantic business activity increased more than forecast in January, suggesting resilience in the region’s manufacturing sector amid trade tensions between China and the United States. The Philly Fed said its business activity index rose to 17.0 from 9.1 in December. The latest figure was […]

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