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Dow Jones barely notches sixth straight record high close
16 Feb 2017 at 1:46pm
It was a mixed day on wall Street as investors digested recent gains and sold banks that have been big winners in the "Trump rally" that has seen the S&P 500 rise about 5 percent so far in 2017, with the Dow Jones Industrial Average up 4 percent. Signs of an improving economy and promises by President Donald Trump to cut corporate taxes and reduce financial regulations have been behind much of the recent gains. Now, with a strong fourth-quarter earnings season mostly complete, many investors say they need concrete signs of progress from Trump to justify more gains.
Snap lowers valuation expectations in highly awaited IPO
16 Feb 2017 at 12:20pm
Snap Inc , owner of the popular messaging app Snapchat, set a lower-than-expected valuation range on Thursday, amid mounting investor concerns over its unproven business model, slowing growth and tight founder control. The company, which filed for an initial public offering earlier this month, was widely expected to be valued at between $20 billion and $25 billion. The lower valuation range reflected initial investor feedback, as well as Snap's aim to ensure there is sufficient demand for shares of the company that it trades up on its first day in public market.
U.S. weekly jobless claims rise less than expected
16 Feb 2017 at 10:29am
The number of Americans filing for unemployment benefits increased less than expected last week, a sign that the labor market was continuing to tighten. Initial claims for state unemployment benefits rose 5,000 to a seasonally adjusted 239,000 for the week ended Feb. 11, the Labor Department said on Thursday. Claims have been below 300,000, a threshold associated with a strong labor market, for 102 consecutive weeks.
U.S. court to rehear challenge to SEC judges
16 Feb 2017 at 10:18am
A U.S. appeals court on Thursday said it would rehear a challenge to the Securities and Exchange Commission's use of in-house judges. The order issued by the U.S. Court of Appeals for the District of Columbia Circuit wiped out a three-judge panel's August decision in favor of the commission. Oral arguments will be held on May 24.
Auto union courts Tesla workers, amplifies 'buy American' message
16 Feb 2017 at 12:47pm
United Auto Workers President Dennis Williams said on Thursday the union is contacting workers at Silicon Valley electric car maker Tesla Inc , and plans to boost efforts to convince U.S. consumers not to buy vehicles built in other countries, including those sold by the Detroit automakers. The UAW leader also used a meeting with reporters to praise President Donald Trump for calling on companies to produce more products in the United States, and promising to rework the North American Free Trade Agreement.
U.S. housing starts fall; building permits hit one-year high
16 Feb 2017 at 8:26am
U.S. homebuilding fell in January as the construction of multi-family housing projects dropped, but upward revisions to the prior month's data and a jump in permits to a one-year high suggested the housing recovery remained on track. Factory activity in the mid-Atlantic region vaulted to a 33-year high in February and the number of new applications for unemployment benefits was less than expected last week. "There is not much to complain about the economy as housing and manufacturing are improving and the labor market remains tight.
Exclusive: Big U.S. banks to push for easing of money laundering rules
16 Feb 2017 at 7:49am
By Joel Schectman, Karen Freifeld and Brett Wolf WASHINGTON/NEW YORK (Reuters) - America's largest banks are to propose a complete overhaul of how financial institutions investigate and report potential criminal activity, arguing that rules imposed in the years after the Sept. 11, 2001 attacks and strengthened during the Obama administration are onerous and ineffective, sources said. The Clearing House, a trade association representing the largest U.S. banks including JPMorgan Chase & Co , Bank of America and Citigroup , has long raised concerns about the effectiveness of the current rules, but this will be the first time the group has publicly called for them to be revamped. The proposal, which could be published as soon as Thursday, will set the stage for an intensive lobbying effort targeting bank regulators and members of the Senate and House of Representatives finance committees.
Samsung chief Lee arrested in corruption investigation
16 Feb 2017 at 2:41pm
By Hyunjoo Jin SEOUL (Reuters) - Samsung Group chief Jay Y. Lee was arrested early on Friday over his alleged role in a corruption scandal that led parliament to impeach President Park Geun-hye, in a blow to the world's biggest maker of smartphones. The 48-year-old Lee, vice chairman of Samsung Electronics Co Ltd , was taken into custody at the Seoul Detention Centre, where he had awaited the court's decision following a day-long closed-door hearing that ended on Thursday evening. The judge's decision was announced at about 5:30 a.m. (2030 GMT) on Friday, more than 10 hours after Lee, the conglomerate's third-generation leader, had left the court.
German minister backs Peugeot-Opel deal after GM assurances
16 Feb 2017 at 11:34am
By Pamela Barbaglia and Ilona Wissenbach LONDON/FRANKFURT (Reuters) - Germany expects PSA Group's proposed acquisition of General Motors' Opel business to go ahead, a minister said on Thursday, after the U.S. carmaker sought to allay fears of large-scale plant closures. "I expect it to take place," Economy Minister Brigitte Zypries told reporters after discussions with senior executives from General Motors and PSA, maker of Peugeot and Citroen cars. The German government is "doing everything we can" to preserve Opel's domestic plants, Zypries said.
Newspapers aim to ride 'Trump Bump' to reach readers, advertisers
16 Feb 2017 at 12:55pm
By Jessica Toonkel NEW YORK (Reuters) - The Trump administration's combative view of traditional news media as the "opposition party" and "fake news" is turning out to be the best hope in 2017 for newspapers struggling to attract more digital readers and advertisers. The New York Times , the Financial Times, The Wall Street Journal and Gannett Co are building on the online readership they gained during the 2016 presidential election by marketing unbiased reporting as a sales strategy. The New York Times, which President Donald Trump has referred to as "failing" in his Twitter messages, added a record 276,000 digital news subscribers in the last quarter and sees digital ad revenue up 10 to 15 percent in the current quarter.
Stocks are mixed in early trading on Wall Street
2 Apr 2014 at 6:51am
NEW YORK (AP) ? Stocks are getting off to a mixed start on Wall Street as investors asses a pickup in hiring last month at U.S. companies and a handful of corporate earnings.
How to install and use Let's Encrypt on a Ubuntu Server for SSL security
16 Feb 2017 at 12:20pm
If you're looking for an easy way to install SSL certificates on your Ubuntu Server, follow this incredibly simple process to use Let's Encrypt.
Identity standards group expands certification program
16 Feb 2017 at 12:16pm
Those that issue user credentials, and those that accept them, now have access to OpenID Connect certification
Free charging stations can hack your phone, here's how to protect yourself
16 Feb 2017 at 11:52am
A recent experiment conducted by security company Authentic8 showed how lax some users are regarding their phone data. Here's how to practice good security when you need to charge.
Five iPhone 8 surprises Apple could drop on us
16 Feb 2017 at 11:30am
The iPhone supply and manufacturing chain is so big that leaks are inevitable. But Apple could still drop some surprises on us.