Monday , 25 June 2018

Business News

China regulators free up extra $100B for bank lending

Chinese regulators have freed up an extra $100 billion for bank lending in a move financial analysts said could help to reassure investors amid trade tensions with Washington. The reduction on Sunday in reserves banks are required to hold was part of a series of such cuts economists had forecast before the dispute with President Donald Trump erupted. But they …

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Asian stocks fall, oil gives up some gains after China move

Asian stock markets fell Monday and oil prices gave up some of their gains after Chinese regulators freed up extra money for bank lending amid a trade dispute with Washington. KEEPING SCORE: Tokyo’s Nikkei 225 fell 0.5 percent to 22,404.53 and Hong Kong’s Hang Seng lost 0.5 percent to 29,193.68. The Shanghai Composite Index edged up less than 1 point …

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Police: Backup driver in fatal Uber crash was distracted

The human backup driver in an autonomous Uber SUV was streaming the television show “The Voice” on her phone and looking downward just before fatally striking a pedestrian in suburban Phoenix, according to a police report. The 300-page report released Thursday night by police in Tempe revealed that driver Rafaela Vasquez had been streaming the musical talent show via Hulu …

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Business Highlights

___ OPEC agrees to pump more oil but crude prices jump anyway VIENNA (AP) — The OPEC oil countries have agreed to increase their production by almost 1 million barrels a day. Analysts say the move should help contain the recent rise in global energy prices. Questions remain, however, over the ability of some OPEC nations to increase production as …

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US stocks finish mostly higher as energy companies climb

Oil prices and energy companies rallied Friday after OPEC said it will produce more oil, but not as much as investors feared. While trade tensions remained in the headlines, U.S. stocks finished slightly higher at the end of a bumpy week. U.S. crude futures jumped 4.6 percent after OPEC nations agreed to produce about 1 million additional barrels of oil …

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Exxon Mobil and CarMax jump; Red Hat and Tesla tumble

Stocks that moved substantially or traded heavily on Friday: Exxon Mobil Corp., up $1.69 to $81.38 Energy companies and oil prices rallied after OPEC said it will produce more oil, but not as much as investors feared. Red Hat Inc., down $25.59 to $142.14 The open source software company cut its sales forecast and pointed to the stronger U.S. dollar. …

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From boat makers to farmers, US-led tariff war inflicts pain

A Florida boat builder absorbs $4 million in lost business and expects more pain. An Ohio pork producer is losing access to a vital export market and fears the damage will last years. A motorcycle shop near Cologne, Germany, wonders if it even has a future. A brawl that the United States provoked with its closest trading partners is starting …

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How major US stock indexes fared Friday

Oil prices and energy companies rallied Friday after OPEC said it will produce more oil, but not as much as investors feared. While trade tensions remained in the headlines, U.S. stocks finished slightly higher at the end of a bumpy week. On Friday: The S&P 500 index picked up 5.12 points, or 0.2 percent, to 2,754.88. The Dow Jones Industrial …

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Markets Right Now: Stocks rise as energy companies surge

The latest on developments in financial markets (all times local): 4:00 p.m. U.S. stocks are closing higher Friday as oil prices and energy companies rallied. OPEC said it will produce more oil, but not as much as investors feared. U.S. crude jumped 4.6 percent and Exxon Mobil advanced 2.1 percent. Health care companies also rose while technology companies and banks …

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The Latest: Auto trade group decries Trump's tariff threat

The Latest on America’s disputes with its trading partners (all times local): 3:05 p.m. A trade association representing a dozen automakers doing business in the United States says President Donald Trump’s threat to slap 20 percent tariffs on vehicles imported from Europe is “not the right approach.” The Alliance of Automobile Manufacturers says in a statement that it understands that …

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