Breaking Stock Market and Financial News

Exclusive: A New York hotel deal shows how some public pension funds help to enrich Trump

Top Reuters News - 13 hours 17 min ago
WASHINGTON (Reuters) - Public pension funds in at least seven U.S. states have invested millions of dollars in an investment fund that owns a New York hotel and pays one of President Donald Trump's companies to run it, according to a Reuters review of public records. That arrangement could put Trump at risk of violating an obscure constitutional clause, some legal experts say.

Turkey says detains 1,000 'secret imams' in police purge

Top Reuters News - 13 hours 46 min ago
ANKARA (Reuters) - Turkish authorities arrested more than 1,000 people on Wednesday they said had secretly infiltrated police forces across the country on behalf of a U.S.-based cleric blamed by the government for a failed coup attempt last July.

Syrian refugees must buy travel papers - from Assad

Top Reuters News - 14 hours 17 min ago
LUXEMBOURG (Reuters) - When Mohamed al-Khalaf escaped from Syria and won asylum in Luxembourg last year, his wife and children stayed behind in Raqqa, the hub of Islamic State's so-called Caliphate. Khalaf applied for his family to join him, exercising a right to family life under European law.

Le Pen not an option as French far-left polls members on election round two

Top Reuters News - 15 hours 9 min ago
PARIS (Reuters) - Jean-Luc Melenchon, the far left candidate who came fourth in the first round of France's presidential election with nearly 20 percent of the vote, is polling core supporters on whether they will back centrist Emmanuel Macron in the second round.

Serena says accidentally spilled news of her pregnancy

Top Reuters News - 17 hours 30 min ago
(Reuters) - Serena Williams had no intention of sharing her pregnancy with the world last week but spilled the beans when she accidentally uploaded the "20 weeks" photo of herself on Snapchat, the world number one said on Tuesday.

Tyson Foods eyes higher wages as U.S. labor market tightens

Top Reuters News - 18 hours 13 min ago
CHICAGO (Reuters) - Tyson Foods Inc , the biggest U.S. chicken company, said on Wednesday it may raise wages again for workers at all of its poultry plants, a sign of an intensifying battle for employees in a tightening labor market.

Thai police to review procedures for taking down content after Facebook killing

Top Reuters News - 18 hours 49 min ago
BANGKOK (Reuters) - Police in Thailand on Wednesday said they would discuss how to speed up taking down "inappropriate online content" after a man broadcast himself killing his 11-month-old daughter in a live video on Facebook.

Eighth time lucky: NASA launches super balloon to collect near space data

Top Reuters News - Tue, 04/25/2017 - 23:48
WELLINGTON (Reuters) - A stadium-sized pressure balloon launched by NASA in New Zealand began collecting data in near space on Wednesday, beginning a 100-day planned journey after several launch attempts were thwarted by storms and cyclones.

Trump tax plan will sharply slash corporate tax rates

Top Reuters News - Tue, 04/25/2017 - 21:41
WASHINGTON (Reuters) - U.S. President Donald Trump will release a tax plan on Wednesday stating broad principles and proposing some deep cuts, mostly for businesses, including a slashed corporate income tax rate and steeply discounted tax rate for overseas corporate profits brought into the United States, officials said.

Trump administration to review dozens of U.S. national monuments

Top Reuters News - Tue, 04/25/2017 - 21:22
WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday will order a review of national monuments created over the past 20 years with an aim toward rescinding or resizing some of them - part of a broader push to reopen areas to drilling, mining and other development.

Palantir settles U.S. lawsuit charging bias against Asians

Top Reuters News - Tue, 04/25/2017 - 20:30
WASHINGTON (Reuters) - The data analytics and security company Palantir Technologies Inc has agreed to pay nearly $1.7 million to resolve charges it discriminated against Asian applicants for engineering jobs at its Palo Alto, California, office, the U.S. Labor Department said on Tuesday.

U.S. military begins moving THAAD missile defense to South Korea site: media

Top Reuters News - Tue, 04/25/2017 - 19:15
SEOUL (Reuters) - The U.S. military has started moving parts of the controversial THAAD anti-missile defense system into a planned deployment site in South Korea, Yonhap news agency reported on Wednesday, amid high tensions over North Korea's missile and nuclear programs.

Macron, Le Pen trade accusations in French election race

Top Reuters News - Tue, 04/25/2017 - 19:02
PARIS (Reuters) - France's two presidential candidates traded barbs on Tuesday with centrist Emmanuel Macron accusing far-right rival Marine Le Pen of promoting hatred, while she labeled him as the "candidate of the oligarchy."

Akebia shares jump on expanded anemia drug deal with Otsuka

MarketWatch Market Pulse - Tue, 04/25/2017 - 17:41

Akebia Therapeutics Inc. shares jumped in the extended session Tuesday after the biotech company said it expanded its collaboration with Otsuka Pharmaceutical Co., part of Otsuka Holdings Co. , on an anemia treatment. Akebia shares rallied 29% to $12.10 after hours. The company said it expanded its collaboration with Otsuka on the drug vadadustat to exend into Europe, China, and other markets. Vadadustat is currently in late-stage clinical trials for the treatment of anemia in patients with chronic kidney disease. The agreement expands on one where both companies would equally share the development and commercial costs of vadadustat for the U.S. market. Under the agreement, Akebia will receive at least $208 million from Otsuka with possibly up to $658 million in milestone payments.

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U.S. FCC to launch 'comprehensive review' of media regulations

Top Reuters News - Tue, 04/25/2017 - 17:34
WASHINGTON (Reuters) - Federal Communications Commission Chairman Ajit Pai on Tuesday said the top U.S. telecommunications regulator will launch a "comprehensive review" of regulations that restrict consolidation among media companies, potentially opening the door to a new wave of deals among broadcasters and newspapers.

Edwards Lifesciences shares surge on earnings beat, outlook

MarketWatch Market Pulse - Tue, 04/25/2017 - 17:14

Edwards Lifesciences Corp. shares rallied in the extended session Tuesday after the heart disease and critical-care-monitoring products maker's quarterly results topped Wall Street estimates. Edwards shares surged 8.4% to $107.20 after hours. The company reported adjusted first-quarter earnings of 94 cents a share on revenue of $883.5 million. Analysts surveyed by FactSet had forecast 82 cents a share on revenue of $777 million. For the year, Edwards sees adjusted earnings of $3.43 to $3.55, up from a previous range of $3.30 to $3.45, on revenue of $3.2 billion to $3.4 billion. Analysts expect $3.41 a share on revenue of $3.27 billion.

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Trump drops support for 'border adjustment' tax: report

MarketWatch Market Pulse - Tue, 04/25/2017 - 17:02

The Trump administration has dropped support for a so-called border adjustment tax, the New York Times reports a day ahead of a tax-plan announcement by President Donald Trump. House Republicans have backed the proposal, which would tax imports while exempting exports. Treasury Secretary Steven Mnuchin said last week it was not "off the table." Two people briefed on the matter told the Times it has been shelved but may be revisited later.

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Wynn Resorts shares rise after results top Street view

MarketWatch Market Pulse - Tue, 04/25/2017 - 17:01

Wynn Resorts Ltd. shares rose in the extended session Tuesday after the casino resort operator topped Wall Street results for the quarter. Wynn shares rose 3.7% to $122.60 after hours. The company reported adjusted first-quarter earnings of $1.24 a share on revenue of $1.48 billion. Analysts surveyed by FactSet had forecast earnings of 98 cents a share on revenue of $1.4 billion.

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API data show gains in weekly U.S. crude and gasoline supplies: sources

MarketWatch Market Pulse - Tue, 04/25/2017 - 16:56

The American Petroleum Institute late Tuesday reported a rise of 897,000 barrels in U.S. crude supplies for the week ended April 21, according to sources. The API data also showed a climb of about 4.4 million barrels in gasoline supplies, while inventories of distillates were little changed, down 36,000 barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts forecast a decrease of 1 million barrels in crude inventories. June crude was at $49.26 a barrel in electronic trading, down from the contract’s settlement of $49.56 on the New York Mercantile Exchange.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Costco to pay special dividend of $7, increases quarterly dividend by 5 cents

MarketWatch Market Pulse - Tue, 04/25/2017 - 16:54

Costco Wholesale Corp. said late Tuesday its board of directors has declared a special dividend of $7 a share and authorized an increase of 5 cents in the company's quarterly dividend. "Our strong balance sheet and favorable access to the credit markets allow us to provide shareholders with this dividend, while preserving financial and operational flexibility to continue to grow our business globally," Chief Financial Officer Richard Galanti said in a statement. The special dividend is payable on May 26 to shareholders of record on May 10. The aggregate payment will be about $3.1 billion, to be funded primarily through additional borrowing, Costco said. The company's regular quarterly cash dividend of 50 cents per share will also be payable on May 26 to shareholders of record on May 12. Costco shares rose 3.8% after ending the regular trading session up 0.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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