Sunday , 21 October 2018

Business News

Chinese broadens its propaganda drive to heartland America

China’s propaganda machine has taken aim at American soybean farmers as part of its high-stakes trade war with the Trump administration. The publication last month of a four-page advertising section in the Des Moines Register opened a new battle line in China‘s effort to break the administration’s resolve. U.S. farmers are a key political constituency for Trump, and Beijing has …

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US stocks wobble at the end of another shaky week of trading

U.S. stocks gave up an early rally Friday and struggled to another mixed finish as investors continued to sell former favorites like retailers. Household goods makers rose again as a week of choppy trading concluded. Stocks surged in early trading after better-than-expected reports from companies including Procter & Gamble, American Express and PayPal. Procter & Gamble, the world’s largest consumer …

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CEO of mining company tears into analysts during rant

The CEO of a mining company exploded at short-sellers and Wall Street analysts on Friday, saying they don’t know how to read financial reports and should quit their jobs. “You guys should resign for your lack of knowledge of things,” said Lourenco Goncalves, the CEO of Cleveland-Cliffs Inc. “You are a disaster. You are an embarrassment to your parents.” Goncalves …

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Amazon reviews: Inside the murky world of pay-to-play

Jeff, a home builder in Lasalle, Illinois, said he bought a battery adapter for his cordless drill on Amazon, and it worked for about an hour before it broke. So Jeff, who asked that his last name not be used in this story, wrote a review saying just that. He said the third-party seller emailed him later, asking him to …

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Marijuana company heads to New York Stock Exchange

The New York Stock Exchange is about to get greener. Canada-based Aurora Cannabis plans to start trading on the NYSE on Oct. 23, the company announced Thursday. The move comes in spite of the fact U.S. financial institutions are still barred from doing business with marijuana companies, be it financing the businesses or accepting deposits or allowing employees to open …

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Business Highlights

___ China’s growth slows as officials try to reassure investors BEIJING (AP) — China‘s economic growth has sunk to a post-global crisis low as officials launch a media blitz to reassure investors about its sagging stock market. Growth declined to 6.5 percent over a year earlier in the latest quarter from the previous quarter’s 6.7 percent. That adds to challenges …

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How major US stock indexes fared Friday

U.S. stocks gave up an early rally Friday and struggled to another mixed finish as investors continued sell former favorites like retailers. Household goods makers rose again as a week of choppy trading concluded. On Friday: The S&P 500 index slipped 1 point to 2,767.78. The Dow Jones Industrial Average added 64.89 points, or 0.3 percent, at 25,444.34. The Nasdaq …

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Procter & Gamble and AmEx climb while AIG and DowDuPont dip

Stocks that moved substantially or traded heavily Friday: Procter & Gamble Co., up $7.06 to $87.30 The consumer products company reported a greater-than-expected profit as beauty product revenue rose. PayPal Holdings Inc., up $7.30 to $84.78 The payments processor had a strong quarter and announced a partnership with American Express. American Express Co., up $3.89 to $106.73 The company said …

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US home sales fell in September to slowest pace in 3 years

U.S. home sales fell for the sixth straight month in September, a sign that housing has increasingly become a weak spot for the economy. The National Association of Realtors said Friday that sales declined 3.4 percent last month, the biggest drop in 2 ½ years, to a seasonally adjusted annual rate of 5.15 million. That’s the lowest sales pace since …

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