Spain Probably Expanded 0.7% This Quarter, Central Bank Says
Spain’s economy probably maintained its pace this quarter, supported by resilient internal demand and “intense” job creation, the country’s central bank said. The most important market news of the day. Get our markets daily newsletter. Business Your guide to the most important business stories of the day, every day. You will now receive the Business newsletter ..>> view originalOlive Garden is 'molto bene' with diners and investors
Olive Garden used to be the butt of late night comedian jokes making fun of its never ending pasta bowls and the target of an activist investor who famously put out a scathing report on the quality of the company's food. But investors who've stuck with Olive Garden parent company Darden Restaurants (DRI) are having the last laugh. Darden reported solid earnings on Tuesday, thanks in large part to a jump in sales at Olive Garden. The stock rose nearly 3% on the news. Darden is now up more ..>> view originalPaschi Falls to Record as Investors Said to Balk at Share Offer
Banca Monte dei Paschi di Siena SpA plunged to a record low as it said liquidity has been drying up, amid mounting concern it will fail in its effort to raise 5 billion euros ($5.2 billion) of funds from private investors.Shares in the troubled lender fell as much as 19 percent to 15.00 euros, the lowest since they began trading in 1999, and were down 7 percent at 1:33 p.m. in Milan. The stock has declined 86 percent this year, trimming the bank’s market value to about 505 million euros. Qatar’..>> view originalPresident Obama bans oil drilling in large areas of Atlantic and Arctic oceans
Hundreds of kayaktivists protest drilling in the Arctic and the Port of Seattle being used as a port for the Shell Oil drilling rig Polar Pioneer (Daniella Beccaria/seattlepi.com via Associated Press) President Obama moved to solidify his environmental legacy Tuesday by withdrawing hundreds of millions of acres of federally owned land in the Arctic and Atlantic Ocean from new offshore oil and gas drilling. Obama used a little-known law called the Outer Continental Shelf Lands Act to protect ..>> view originalStocks Steady as Holiday Lull Descends
Stocks steadied near their highest levels this year on Wednesday as markets quieted ahead of the holiday period. Futures pointed to a small opening gain for the Dow Jones Industrial Average, after the blue-chip index closed at its 26th record high of the year but ended just shy of the 20000 milestone. U.S. stocks have rallied since November, as surveys have pointed to high levels of optimism among retail investors and...>> view originalFedEx misses profit estimates
FedEx Corp.'s fiscal second-quarter profit fell short of analysts' estimates as spending to improve its growing ground-shipping unit dulled the benefit of increased online Christmas shopping. Operating income at the ground unit fell 12 percent as investment to expand capacity climbed, the Memphis-based company said in a statement Tuesday. The expenditures will help FedEx improve service and improve returns in the long term, Chief Financial Officer Alan Graf said in the statement. The package-de..>> view originalSeven Banks Fined in Swiss Probes of Rate-Rigging Cartels
Switzerland handed out about $100 million in antitrust fines against seven U.S. and European banks for participating in cartels to manipulate widely used financial benchmarks. Your cheat sheet on life, in one weekly email. Get our weekly Game Plan newsletter. Business Your guide to the most important business stories of the day, every day. You will now receive the Business new..>> view originalCoke moves away from AB InBev with Africa bottling deal
BRUSSELS/LONDON Coca-Cola Co (KO.N) has reached a deal to buy Anheuser-Busch InBev's (ABI.BR) majority stake in their African bottling venture for $3.15 billion and hold onto it until it finds a new owner, the companies said on Wednesday. Coke said in October it would exercise a right to buy the stake formerly owned by SABMiller following SAB's takeover by AB InBev.Coke has not said why it decided to buy back the stake, but it might be in its best interest to avoid partnering with AB InBev, w..>> view originalSingapore Convicts Former Banker With Ties to Key Figure in 1MDB Probe
SINGAPORE—A Singapore court Wednesday convicted a former private banker with ties to a Malaysian financier described by global investigators as central to probes of alleged multibillion-dollar misappropriations at Malaysian state fund 1MDB. Yeo Jiawei, 33, a onetime wealth manager at the local branch of Swiss Bank BSI SA, was convicted on four...>> view originalHow America's biggest banks boost your fees
Overdrafts, once used as a short-term accommodation to bank customers, have turned into a fee-for-all. Only six of the nation’s 50 largest banks restrict overdrafts with consumer-friendly policies. The remaining 44 engage in one or more practices likely to nick their customers with overdraft fees, according to new research by the Pew Charitable Trusts. The six institutions that follow consumer-friendly policies when it comes to overdraft fees are: Ally Bank (ALLY), Charles Schwab Bank (SCHW), D..>> view original
Thursday, January 12, 2017
Spain Probably Expanded 0.7% This Quarter, Central Bank Says and other top stories.
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