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Latest News

U.S. Oil Inventories Rose by 452,000 Barrels Last Week – EIA
Today, 16:21
By Kim Khan - Stockpiles of U.S. crude oil rose less than traders expected last week, the Energy Information Administration reported Wednesday. Oil prices added to small gains after the report came out. Oil inventories climbed by 452,000 barrels for the week ended Feb. 21, the EIA said. That compared with expectations for a build of 2 million barrels, according to forecasts compiled by Gasoline inventories dropped by ..
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Disney shares down 2% after 'surprise' CEO change
Today, 16:18
(Reuters) - Shares of Walt Disney Co (N:DIS) fell 2% on Wednesday after the media giant's surprise move to replace top boss Bob Iger raised questions on Wall Street if his successor Bob Chapek had sufficient experience in the entertainment business. Chapek headed Disney's parks business, its largest, and oversaw the opening of the company's first theme park and resort in mainland China and the creation of the new Star Wars: ..
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Explainer: Why EU doesn't want to give Brexit Britain plain trade deal
Today, 16:15
By Gabriela Baczynska BRUSSELS (Reuters) - Britain and the European Union will launch talks next Monday on a new post-Brexit partnership due to start in 2021, but the two sides are already trading barbs on the scale and scope of their trade cooperation. Britain says it wants a simple free trade agreement such as the EU has with Canada or Japan, which would mean significantly more trade frictions than there are currently between the world's ..
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U.S. Supreme Court allows retirement plan lawsuit against Intel
Today, 16:12
By Andrew Chung WASHINGTON (Reuters) - The U.S. Supreme Court on Wednesday refused to back stricter deadlines for workers to sue retirement plans over alleged mismanagement, ruling Intel Corp (O:INTC) cannot avoid a suit accusing it of unlawfully making high-risk investments that cost retirement plan beneficiaries hundreds of millions of dollars. In a unanimous ruling, the justices upheld a lower court decision that revived the proposed ..
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NiSource unit to plead guilty, pay $53 million, over Massachusetts gas explosions
Today, 16:09
By Nate Raymond BOSTON (Reuters) - A subsidiary of utility operator NiSource Inc (NYSE:NI) has agreed to pay $53 million and plead guilty to breaking federal pipeline safety laws to resolve an investigation into catastrophic gas explosions in three Massachusetts communities in 2018. Columbia Gas of Massachusetts will plead guilty to violating the Pipeline Safety Act to resolve a probe into the disaster, which killed one person, injured at least ..
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Google to invest over $10 billion in 2020 on U.S. data centers, offices
Today, 16:06
(Reuters) - Alphabet Inc's (O:GOOGL) Google said on Wednesday it would invest more than $10 billion in offices and data centers across the United States this year. The company added that the new investments will focus on 11 states including Massachusetts, New York and Ohio. "These investments will create thousands of jobs - including roles within Google, construction jobs in data centers and renewable energy facilities, and ..
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Euro zone governments should use budget measures to support growth: Lagarde
Today, 16:03
WIESBADEN, Germany (Reuters) - European Central Bank President Christine Lagarde repeated her call on Wednesday for euro zone governments to use their budgetary leeway to boost growth amid the bloc's slowdown. Weak foreign trade has dragged the euro zone's vast manufacturing sector into recession in recent months, and the coronavirus outbreak is risking further disruption. "Fiscal measures intended to support the economy are certainly ..
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Stocks - Dow Opens up Over 200 Points, but Disney Lags
Today, 15:21
By Geoffrey Smith -- U.S. stock markets staged a modest bounce at the opening of trade on Wednesday, after President Donald Trump lashed out at mainstream media for “panicking markets” with reports about the coronavirus. By 9:35 AM ET (1435 GMT), the Dow Jones Industrial Average had risen 237 points or 0.9%, while the S&P 500 was up 1.0% and the Nasdaq Composite was up 1.3%. They’ve still all lost between 7% ..
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Senior House Democrat Clyburn endorses Biden for president
Today, 15:18
NORTH CHARLESTON, S.C. (Reuters) - James Clyburn, the No. 3 Democrat in the House of Representatives and an influential black legislator from the early voting state of South Carolina, said on Wednesday he would endorse former U.S. Vice President Joe Biden's bid for president. Clyburn's coveted endorsement comes before South Carolina's primary on Saturday, the 2020 Democratic candidates' fourth presidential nominating contest. ..
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What Rout? RBC Still Sees Bullish Behavior in U.S. Options
Today, 15:15
(Bloomberg) -- The S&P 500 may have lost more than 7% in the past four days, but RBC Capital Markets says options markets aren’t panicking yet. “We are actually seeing some bullish sentiment, with traders getting longer or monetizing hedges they’ve had on,” Amy Wu Silverman, an equity-derivatives strategist at RBCCM, wrote in an email Tuesday. “The options market does not suggest all out panic.” For one, while implied volatility for ..
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