Monday , 26 June 2017

Business News

US stocks mostly higher in afternoon trading; oil recovers

Utilities led U.S. stocks mostly higher in afternoon trading Monday as falling bond yields made high-dividend companies more attractive to income-seeking investors. Financial stocks were also headed higher. Technology companies were down the most, giving up gains from an early rally. KEEPING SCORE: The Standard & Poor’s 500 index added 3 points, or 0.2 percent, to 2,442 as of 2 ... Read More »

Markets Right Now: US stocks are mostly higher at midday

The latest on developments in financial markets (All times local): 11:45 a.m. U.S. stocks are mostly higher in midday trading, but the market was held back by a downturn in technology companies. High-dividend stocks like utilities and phone companies posted the biggest gains Monday as bond yields fell, making those stocks more attractive to investors seeking income. Exelon climbed 2.2 ... Read More »

Buffett's company buys 10 pct of real estate investment firm

Warren Buffett’s company is spending $377 million to pick up 9.8 percent of a real estate investment trust called Store Capital. The Scottsdale, Arizona, based real estate firm announced Berkshire Hathaway’s investment on Monday. Berkshire bought 18.6 million shares of Store Capital Corp. for $20.25 per share in a private placement sale. Store Capital’s stock jumped nearly 11 percent to ... Read More »

Avis teams up with Waymo on self-driving car program

Avis is teaming up with Waymo on a self-driving car program. The partnership aims to support Waymo’s fleet and its early rider program, which has a public trial in Phoenix. Avis Budget Group Inc. said Monday that it will provide fleet support and maintenance services for Waymo’s program at its Avis and Budget car rental locations. Under the multiyear deal, ... Read More »

Grain higher, livestock mixed

Grain futures were higher Monday in early trading on the Chicago Board of Trade. Wheat for July delivery was 9.40 cents lower at $4.5020 a bushel; July corn was up 0.40 cent at $3.5820 a bushel; July oats was up 1.40 cents at $2.56 a bushel while July soybeans gained 2.20 cents to $9.0660 a bushel. Beef lower and pork ... Read More »

US durable goods orders fell in May by the most in 18 months

Demand for long-lasting U.S. factory goods fell by the most in 18 months, and a key category that tracks business investment also slipped, evidence that manufacturing output is barely growing. Orders for durable goods — items meant to last at least three years — slid 1.1 percent in May, the Commerce Department said Monday. It was the second straight decline. ... Read More »

Air bag recalls, lawsuits lead Takata to file for bankruptcy

Japanese air bag maker Takata Corp. says it had to file for bankruptcy protection in Tokyo and the U.S. to ensure it could continue supplying replacements for faulty air bag inflators linked to the deaths of at least 16 people. The company’s bankruptcy filings Monday cleared the way for a $1.6 billion takeover of most of Takata’s assets by Key ... Read More »

Asian markets higher after Wall Street rebound

Asian markets rose Monday after Wall Street rebounded from losses to end last week higher on stronger oil and gas prices. KEEPING SCORE: The Shanghai Composite Index rose 0.8 percent to 3,181.78 and Hong Kong’s Hang Seng added 0.4 percent to 25,768.13. Tokyo’s Nikkei 225 advanced 0.1 percent to 20,156.46 and Sydney’s S&P-ASX 200 gained 0.1 percent to 5,723.50. Seoul’s ... Read More »