Commodity stocks lift shares, inflation in focus
LONDON Rising commodity prices pulled shares higher on Tuesday and the dollar slipped from a seven-month high as bond yields fell, while sterling briefly strengthened after data showed UK inflation rose by its most in more than two years last month.U.S. inflation data due later will also be a focus after Federal Reserve Chair Janet Yellen suggested last week the central bank could allow inflation to top its 2 percent target.The weaker dollar helped lift oil and metals prices, lifting commodity..>> view originalUK inflation sees biggest jump in over two years; sterling rises
While September inflation data is still significantly below the Bank of England's 2 percent annual target, the sharp ramp-up in recent months and anticipation of that trend accelerating has given the U.K.'s central bank the nuanced task of finding a balance between controlling spiraling inflation and ensuring rates are not too high to choke off growth. Kristin Forbes, a member of the Bank of England's rate-setting Monetary Policy Committee (MPC) has been among those warning of the risk o..>> view originalRyanair Cuts Forecast Over a Fall in the British Pound
Ryanair cut its annual profit forecast on Tuesday due to a weaker pound, but its share price rose after it said it expected to boost its market share in the coming months by selling more tickets at cheaper prices. Europe’s largest low-cost airline, which expects sterling to account for a quarter of its earnings this year, said an 18% slide in the pound against the dollar following the country’s vote to leave the European Union had forced it to cut its profit forecast by 5%. Fare prices may drop..>> view originalBurberry Falls Most in a Year as Asian Woes Erode Brexit Gain
Burberry Group Plc shares fell the most in a year after the British trench coat maker reported declines in its Asian business and worsening results at its wholesale unit, offsetting a Brexit-inspired boost in tourist spending in the U.K.The stock declined as much as 10 percent in London, the biggest intraday drop since Oct. 15 of last year. Consumer demand remained weak in Hong Kong -- a key luxury market that accounts for about 8 percent of Burberry’s revenue -- with sales falling by more than..>> view originalVisa CEO Charles Scharf to resign, ex-AmEx president to take over
Visa Inc said Chief Executive Charles Scharf, who orchestrated the company's reunion with its European affiliate, is stepping down and will be succeeded by former American Express Co President Alfred Kelly.Kelly, who already sits on Visa's board of directors, will take over as CEO following Scharf's resignation, which is effective Dec. 1.Kelly said in an interview with Reuters that he "got a front row seat to the various opportunities and issues the company faces" as a Visa board member since ..>> view originalThat pilot in the cockpit may someday be a robot
By JOAN LOWY, Associated Press MANASSAS, Va. (AP) — From the outside, the single-engine Cessna Caravan that took off from a small airport here on Monday looked unremarkable. But inside the cockpit, in the right seat, a robot with spindly metal tubes and rods for arms and legs and a claw hand grasping the throttle, was doing the flying. In left seat, a human pilot tapped commands to his mute colleague using an electronic tablet. The demonstration was part of a government and industry collab..>> view originalUPDATE 1-Exxon asks court to toss out New York State's climate change case
(Adds comment from New York State) By Terry Wade HOUSTON, Oct 17 (Reuters) - Exxon Mobil Corp asked a federal court on Monday to throw out a subpoena from New York State that would force the oil company to hand over decades of documents as part of a wide-ranging inquiry into whether it misled investors about climate change risks. The filing means Exxon has now requested the U.S. District Court in Fort Worth, Texas for injunctions against two major climate subpoenas: one issued by New York and a..>> view originalJohnson & Johnson Again Buoyed by Pharmaceuticals
Johnson & Johnson lifted the low end of its guidance and posted better-than-anticipated results in the latest quarter as the health-care giant’s pharmaceutical business continues to buoy its top line. The New Brunswick, N.J., company now expects earnings for the year of $6.68 to $6.73 a share, compared with its previous guidance for $6.63 on the bottom. It backed its revenue forecast of $71.5 billion to $72.2 billion. ...>> view originalNetflix Jump in New Users Fuels After-Hours Stock Surge
Netflix Inc. blew through its forecast for subscriber additions in the September quarter, reassuring investors who were skittish about the streaming giant’s growth trajectory and sending its shares soaring 20% in after-hours trading. The better-than-expected performance came mainly in international markets, where the company has completed a massive, near-global expansion this year. Netflix is making a big bet that the same mix of...>> view original
Saturday, November 12, 2016
Commodity stocks lift shares, inflation in focus and other top stories.
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