Sectors News Results

  • Tech Stocks Power Markets Higher

    U.S. stocks jumped sharply Monday, propelled higher by a surge in technology stocks. The S&P 500 and the Dow Jones Industrial Average climbed for the fourth consecutive session in midafternoon trading. The S&P 500 rose 1.6%, while Dow rallied 0.9%.

  • Tech Stocks Power Markets Higher

    U.S. stocks jumped sharply Monday, propelled higher by a surge in technology stocks that put major indexes on track for their highest close in nearly six weeks. The S&P 500 and the Dow Jones Industrial Average climbed for the fourth consecutive session in midafternoon trading. The S&P 500, which rose 1.8% for the day, was on pace for its second-highest close in history.

  • Bank of England Questions Lenders on Readiness for Negative Rates -- Update

    LONDON-- The Bank of England asked British lenders to assess their readiness for subzero interest rates, a sign that officials are weighing the merits of a policy that bankers say would heap problems on a sector already weighed down by Covid-19 and Brexit. In a letter to bank chiefs, the BOE said it is seeking information on banks' "operational readiness and challenges with potential implementation, particularly in terms of technology capabilities." The letter said the query wasn't...

  • Silicon Valley Pay Cuts Ignite Tech-Industry Covid-19 Tensions

    Tech workers fleeing the San Francisco Bay Area to work remotely amid the pandemic are facing a new reality: pay cuts. Over the past several months, Covid-19 has shaken traditional notions of where employees can work. In Silicon Valley, which has a relatively high cost of living and an employee base with access to state-of-the-art remote-work tools, companies are devising plans for a future with decentralized staffs.

  • Brazil Retail Sales Rose in August as Quarantine Easing Continued

    SAO PAULO--Brazil retail sales rose in August as states and cities continued to ease quarantine restrictions amid a decline in new coronavirus infections and deaths. Sales increased a seasonally adjusted 3.4% in the month and rose 6.1% from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE said Thursday. In July sales climbed a revised 5.0% in the month and rose 5.5% from a year earlier.

  • Banks' Arctic Financing Retreat Rattles Oil Industry

    By Christopher M. Matthews and Orla McCaffrey. Defenders of the oil-and-gas industry in Washington are fighting back against big banks who want to stop financing new Arctic-drilling projects, fearing it could be a harbinger of an unbankable future for fossil-fuel companies. Five of the six largest U.S. banks-- Citigroup Inc. (C), Goldman Sachs Group Inc., JPMorgan Chase& Co., Morgan Stanley (MS) and Wells Fargo& Co.-- have pledged over the past year to end funding for new drilling and...

  • Six Chicken-Industry Officials Indicted for Price Fixing--4th Update

    Six current and former chicken-industry executives were indicted on price-fixing charges, expanding the U.S. government's antitrust prosecutions in the $65 billion poultry industry. The charges, announced Wednesday, target executives from several different chicken companies, including Pilgrim's Pride Corp. (PPC), and provide new details about the alleged conspiracy. Prosecutors said the price-fixing took place from 2012 into early 2019, a longer period than the Justice...

  • Behind China's Latest Property Boom: Doormen and Gardeners

    Investors have seized on another way to profit from China's huge housing market: snapping up stocks in the companies that take care of apartment complexes and help residents with child care, groceries and repairs. The rally in property-management companies contrasts with difficulties in China's far bigger real-estate- development industry, which has suffered as the pandemic disrupts sales and authorities take a tougher stance on debt. Measured by floor space, residential...

  • Total joins the Sea Cargo Charter, as Industry Giants Commit to Transparent Reporting of Shipping Emissions

    A group of the world's largest energy, agriculture, mining, and commodity trading companies will for the first time assess and disclose the climate alignment of their shipping activities. United Nations agencies estimate the international shipping industry to carry around 80% of world trade flows and to be responsible for 2-3% of global greenhouse gas emissions annually. Large industrial corporations are significant users of international shipping services.

  • How Coronavirus Changed the Retail Landscape

    The coronavirus pandemic accelerated a major shift in the retail industry. E-commerce sales in the second quarter rose by 44.5% compared with the same period in 2019 and they now make up 16% of all U.S. retail sales, according to the Commerce Department. Consumer spending has picked up since many cities and states began lifting lockdown restrictions and allowing stores to reopen in May, but only some sectors have regained lost ground.

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