Stocks Mixed Before Fed Decision; Dollar Weakens: Markets Wrap

Stocks struggled for direction in most markets and Treasuries held steady in the run-up to Wednesday’s decision from the Federal Reserve’s policy meeting. The Stoxx Europe 600 Index opened modestly lower as earnings rolled in, with Barclays Plc shares slipping after U.K. bank’s provisions for bad loan losses exceeded market estimates. U.S. index futures swung from losses to gains, while […]

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Austin wins Tesla's new factory, Musk thanks Tulsa

Will Tesla finally join the S&P 500? Gerber Kawasaki CEO Ross Gerber believes Tesla’s quarterly earnings report is going to impress investors but Miller Tabak chief market strategist Matthew J. Maley expresses his concerns with the automotive company, including its valuation. After posting the automaker's first full year of profit ever, Tesla CEO Elon Musk said his next factory will […]

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Refiner Irving Oil to lay off 6% of global workforce as pandemic saps demand

(Reuters) – Irving Oil will lay off 6% of its global workforce due to economic challenges presented by the coronavirus pandemic, the refining company said on Wednesday. Energy companies across the world have been slashing jobs as the global coronavirus pandemic saps demand for crude oil, refined products and related services. The layoffs will affect 250 workers across its operations […]

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Why GM Looks Better Off Than Ford or Fiat Chrysler

On November 18, 2010, General Motors Co. (NYSE: GM) exited bankruptcy and resumed trading on the New York Stock Exchange. Fiat Chrysler Automobiles N.V. (NYSE: FCAU), following a government-forced bankruptcy in 2009 that created the company, began trading in January 2014. Of the so-called Detroit Three, only Ford Motor Co. (NYSE: F) managed to escape bankruptcy during the financial crisis. […]

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Biggest U.S. oil ETF may not be able to reflect crude spot prices

(Reuters) – The United States Oil Fund LP, the largest oil-focused exchange-traded product (ETP) in the country, said it may not be able to meet its investment objective of reflecting the spot prices of oil any longer, according to a filing on Thursday. USO’s actions come as it looks to cushion the blow from a historic sell-off in oil markets […]

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T-Mobile wins final approval for closed merger with Sprint

Fox Business Flash top headlines for April 16 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Get all the latest news on coronavirus and more delivered daily to your inbox.  Sign up here. Continue Reading Below WASHINGTON (Reuters) – California’s Public Utilities Commission (CPUC) voted on Thursday to approve the merger of wireless carriers T-Mobile US […]

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NMC Health reveals it has almost $3bn debt unknown to board

Troubled hospitals provider NMC Health has revealed it has almost $3bn more debt than it previously realised, as it continues to investigate an accounting scandal. The FTSE 100 firm, which is based in Abu Dhabi and runs private hospitals in the Middle East, said it had discovered more than $2.7bn in debt facilities which the company’s board was not aware […]

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Bond yields decline on expectation of rate cut

After Fed action, market sees RBI following suit After the U.S. Federal Reserve reduced interest rates on Tuesday to fight the economic slowdown due to the spread of COVID-19, there is growing expectation in the domestic market that the Reserve Bank will follow suit. Bond yields softened on Wednesday amid rate cut hopes, with the yield on the 10-year government […]

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