PG&E plunges 14% after disclosing an 'electric incident' just before wildfire

Shares of utility PG&E fell 14 percent on Wednesday after the company said its insurance wouldn’t cover its cost if it’s found responsible for the Camp Fire. “If the Utility’s equipment is determined to be the cause, the Utility could be subject to significant liability in excess of insurance coverage,” the company said. The utility company also discloses that it […]

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6 Most Important Things in Business Today: OPEC Breakup?

The U.K. economy did well in the third quarter. According to Reuters: Britain’s economy kept up healthy momentum during the third quarter, but this may prove a high watermark ahead of Brexit, official figures showed on Friday. Gross domestic product in the three months to September was 0.6 percent higher than in the previous quarter, matching the consensus forecast in […]

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Britain mulls making firms disclose ethnicity pay gap

The British government is considering making companies reveal the pay gap between white and non-white workers, in a bid to end disadvantages faced by employees from ethnic minorities. Prime Minister Theresa May says revealing the figures might "uncover some uncomfortable truths." She says "too often ethnic minority employees feel they're hitting a brick wall when it comes to career progression." […]

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Merkel, Algerian officials discuss migration, Libya

German Chancellor Angela Merkel shakes hands with Algerian Prime Minister Ahmed Ouyahia ahead of talks in Algiers, Monday Sept.17, 2018. Merkel is visiting Algeria for a day to promote bilateral ties and discuss migration and the situation in neighboring Libya. (AP Photo/Anis Belghoul) German Chancellor Angela Merkel has met with Algerian President Abdelaziz Bouteflika on Monday during a one-day visit […]

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Goldman Sachs Hires Top JP Morgan Dealmaker Simon

Goldman Sachs Group Inc said in an internal memo on Friday it had hired a top JPMorgan Chase & Co dealmaker, Kurt Simon, as a partner and vice chairman of its investment banking division. A Goldman Sachs representative confirmed the contents of the memo. A JP Morgan representative confirmed the departure. A move to a rival firm for a banker […]

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Disney, Pfizer Keep the Dow Flat Wednesday

August 8, 2018: Markets opened narrowly mixed Wednesday and looks set to end the regular trading session the same way. The blue-chip Dow index traded lower all day while the S&P 500 and the Nasdaq Composite are holding onto slim gains. The Trump trade war with China experienced another skirmish yesterday, but corporate earnings reports continue to offset investors’ fears. […]

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Disney Earnings Shaved by Rising Costs

The Walt Disney Co. (NYSE: DIS) reported fiscal third-quarter 2018 results after markets closed Tuesday afternoon. The entertainment giant posted quarterly adjusted EPS of $1.87 and $15.23 billion in revenues. In the same period a year ago, the company reported EPS of $1.58 on revenues of $14.24 billion. First-quarter results compare to consensus estimates for EPS of $1.95 and $15.34 […]

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Disney, DowDuPont Set Pace for the Dow Monday

August 6, 2018: Markets opened slightly lower Monday and all three major indexes are on track to close in the green, although narrowly in the case of the Dow. Corporate earnings remain strong (those tax cuts are doing their intended job) but the continuing tariff battles are taking a toll on investor optimism. The telecom sector is posting Monday’s biggest […]

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With CBS CEO Moonves on the Ropes, Viacom Merger More Likely

Widely admired CBS Corp. (NYSE: CBS) CEO Les Moonves has a big problem. The New Yorker ran an article that charged that he sexually harassed six women. The typical pattern for charges like this is that the company board hires outside counsel and the results are announced to the public once the process is complete. Moonves is not only the […]

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