Category: US
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Yahoo says one billion accounts exposed in newly discovered security breach
Yahoo Inc warned on Wednesday that it had uncovered yet another massive cyber attack, saying data from more than 1 billion user accounts was compromised in August 2013, making it the largest breach in history. The number of affected accounts was double the number implicated in a 2014 breach that the internet company disclosed in…
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Fed gives banks five years to comply with Volcker Rule limits
The Federal Reserve Board laid out on Monday how U.S. banks can apply to take five more years to comply with the Volcker Rule, a reform emerging from the 2007-09 financial crisis that has received some of the harshest criticism from Wall Street. The rule, intended to keep banks from speculating with their customers’ money,…
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European share markets stabilize after U.S election
European share markets continued to stabilize today after Asian stocks rebounded from Wednesday’s sharp sell-off in the immediate aftermath of Donald Trump’s US election victory. Hopes that Mr. Trump will introduce a pro-business agenda to stimulate US economic growth helped to blunt concerns about his surprise win. In London, Paris and Frankfurt, the main stock…
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U.S. airlines expect busier travel this Thanksgiving
More travelers will fly on U.S. airlines around the Thanksgiving holiday this year than last, a trade group said on Wednesday. U.S. carriers are expected to fly 27.3 million passengers worldwide from Friday, Nov. 18, through Tuesday, Nov. 29, up 2.5 percent from a year earlier, Washington-based Airlines for America said. The Sunday after Thanksgiving…
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U.S. manufacturing sector expanding, but risks remain
U.S. factory activity increased for a second straight month in October amid a pickup in production and hiring, supporting views that the embattled manufacturing sector would regain some momentum in the fourth quarter. The Institute for Supply Management (ISM) on Tuesday said its index of national factory activity rose 0.4 percentage point to a reading…
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Oil extends losses after report shows surprise U.S. stocks build
Crude oil prices fell for a fourth day on Wednesday, as jittery investors awaited official U.S. stockpile figures later in the day after industry data showed a surprise build in inventories, underlining a persistent global glut. The American Petroleum Institute said crude stockpiles rose by 9.3 million barrels in the week to Oct. 28, more…
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U.S. EXIM jet financing could resume in December, official says
The U.S. Export Import bank may win legal approval to resume export financing for Boeing Co (BA.N) passenger jets as early as December, a senior official at the agency said on Wednesday. The bank, which provides financing for many U.S. exporters, is currently unable to agree new business for large jets because only two of…
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Wall St. set to open slightly higher; Fed meet eyed
Wall Street looked set to open slightly higher on Tuesday, a day after all three major indexes recorded their worst monthly performance since January. Investors have been cautious about taking large positions due to uncertainty surrounding the U.S. presidential election and with the Federal Reserve poised to raise interest rates before the year ends. The…
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U.S. stocks not moved by October’s marquee deals
The record dealmaking volume for October did not create a ripple effect lifting U.S. stocks as it has in the past – partly because the mergers, albeit large, were few and far between, bankers and analysts said. Though acquisitive corporate bosses generated $329 billion worth of takeovers in October, the biggest month for U.S. M&A…
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Shell’s earnings beat Exxon as oil majors adapt to low prices
Royal Dutch/Shell and BP on Tuesday joined peers in reporting higher than expected earnings by making further deep cuts in spending to cope with an oil price downturn now in its third year. Shell’s stocks rose by over 3 percent as it announced higher quarterly earnings than arch-rival U.S. Exxon Mobil, the world’s largest listed…