Stocks slip, led by energy and materials companies
Last Updated Mar 23, 2016 5:29 PM EDT Falling prices for oil and other commodities pulled U.S. stocks modestly lower on Wednesday, nudging the Standard & Poor's 500 index slightly into the red for the year and putting it on course to snap a five-week winning streak.Energy and mining companies led the decline, while consumer staples and utilities stocks bucked the broader downward trend. Disappointing earnings from several companies, including Nike, also weighed on the market. Oil slumped 4 pe..>> view originalUK judge rules on extradition of flash crash trader
Navinder Sarao, the British trader accused of causing the flash crash in 2010, is facing extradition to the US after a UK high court judge ruled he should stand trial for the alleged market manipulation. At London’s Westminster Magistrates’ Court, the judge agreed that Sarao could be handed over to the US authorities to face 22 charges relating to market manipulation. He could be facing a maximum jail sentence of 380 years. UK Home Secretary Theresa May has two months to approve the..>> view originalAmazon pays women 99.9% what it pays men
Amazon said that a review of its entire U.S. staff found that women’s compensation in 2015 was 99.9% of men’s in equivalent jobs. Further, minorities make 100.1% of what white workers earn.(Photo: AFP/Getty Images)SAN FRANCISCO — After fighting not to release details of what male and female employees are paid, Amazon has done an about-face and made the figures public.“I assume they looked at the numbers and they were happy with the results and now they’re willing to be transparent about it and a..>> view originalCommissioner Rob Manfred, LA mayor Eric Garcetti join push to end Dodgers' cable stalemate
GLENDALE, Ariz. -- Like everyone else from Magic Johnson to Bud Selig, MLB Commissioner Rob Manfred and Los Angeles mayor Eric Garcetti have been powerless for nearly three years to get any movement in the cable stalemate that has kept the majority of Dodger fans from watching their team on TV. But the news that Time Warner Cable had dropped its asking price for SportsNet LA, the Dodgers' regional sports network, prompted both Manfred and Garcetti to issue statements Wednesday throwing their su..>> view originalYum in talks with KKR, others to sell stake in China unit: WSJ
Yum Brands Inc (YUM.N) is in talks with private equity company KKR & Co LP (KKR.N) and others about a possible sale of a nearly 20 percent stake in its China business, the Wall Street Journal reported, citing people familiar with the matter.The stake values the China business at about $10 billion, the report said. (on.wsj.com/1Rl7rtL)Shares of the owner of the KFC and Pizza Hut chains were up 1.6 pct at $80.24 in afternoon trading on Wednesday."We continue to make good progress since we announ..>> view originalDC regulators green light Pepco-Exelon merger, creating largest utility in the nation
District regulators approved a $6.8 billion merger between Pepco Holdings and Exelon on Wednesday, creating the largest publicly-held utility in the country. The decision marked a surprising turn of events for the deal,which regulators had rejected twice before and which appeared to be on life-support in recent weeks as D.C. Mayor Muriel E. Bowser and other city leaders lined up in opposition. The merger means that Pepco will now absorbed by a company with the largest number of nuclear reacto..>> view originalAmerican Airlines Adds Profit Sharing to End Workers' Rift
American Airlines Group Inc. gave in to pressure from employees and adopted a profit-sharing program, acknowledging the issue was thwarting efforts to improve labor relations and the carrier’s performance.American joins the other large U.S. carriers -- Delta Air Lines Inc., United Continental Holdings and Southwest Airlines Co. -- in splitting some earnings with employees. Starting this year, 5 percent of pretax income, excluding one-time items, will go into the profit-sharing fund, Chief Execu..>> view originalPentagon Opens Investigation Into Space Launch Contracts
The Pentagon’s inspector general has opened an investigation into comments made by a United Launch Alliance executive last week that suggested federal officials improperly weighted competitions for space launch services to favor the company. The inquiry will look at whether contracts to ULA, a joint venture between Boeing ba and Lockheed Martin lmt , “were awarded in accordance with DoD and Federal regulations.” It follows recent comments by former United Launch Alliance (ULA) vice..>> view originalOvernight Regulation: Groups vow to challenge union 'persuader' rule
Welcome to Overnight Regulation, a daily rundown of news from the federal agencies, Capitol Hill and beyond. It's Wednesday evening here in Washington and our thoughts are with Brussels. Here's the latest. THE BIG STORY Business groups and labor advocates are blasting a final rule from Department of Labor they say will have "chilling" effects on free speech and prevent employers from seeking legal counsel.Under the so-called persuader rule the DOL finalized on Wednesday, employers will be requi..>> view originalStarbucks CEO offers sermon on civics, agenda for growth
Howard Schultz’s lofty thoughts on civic responsibility mixed with more down-to-earth details on the company’s performance over the past year and business plans for the future. Howard Schultz still isn’t running for political office –- at least not at the moment. But he had plenty to say about the current political climate in America at Starbucks’ 24th shareholders meeting held Wednesday at McCaw Hall. As per usual at these annual meetings, the Starbucks Chairman and CEO’s lofty thoughts on civ..>> view original
Wednesday, March 23, 2016
Stocks slip, led by energy and materials companies and other top stories.
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