Business

Equities Drop in US as Trade Tensions and Earnings Results Sink Sentiment

The benchmark US stock measures sank on Wednesday as downbeat earnings results and renewed trade tensions weighed on sentiment. Turkey’s move to hit back at the US by doubling tariffs on several imports ignited geopolitical jitters that had eased on Tuesday and allowed the Dow Jones Industrial Average and the Standard & Poor’s 500 to stem four-day losing streaks. Energy […]

Ameriprise Financial Services to Pay $4.5 Million SEC Penalty

Ameriprise Financial Services (AMP) will pay $4.5 million to settle charges made by the US Securities and Exchange Commission that it failed to protect investors’ cash from representatives of the company who committed “numerous fraudulent acts.” The regulator’s order said Ameriprise failed to have policies and procedures to prevent misappropriation of client funds by representatives of the company that offers […]

TIC Release Will Be Watched For Russians

TIC Release Will Be Watched For Russians

The June Treasury International Capital (TIC) flows data is due Wednesday at 4 pm ET. There will be scrutiny after Russian holdings “disappeared” from the May list of “Major Foreign Holder of Treasury Securities.” There has been much speculation that the Russians moved holdings into less identifiable accounts. In the June report Russia’s total security holdings plunged to $14.9 billion […]

US Treasury Prices Slightly Lower as Curve Flattening Resumes

US Treasury Prices Slightly Lower as Curve Flattening Resumes

US Treasury prices were slightly lower as curves resumed flattening after risk sentiment recovered somewhat as the Turkey panic subsided. This comes after US press secretary Sanders Monday said national security adviser Bolton met with Turkish ambassador Serdar Kilic at the White House. – Turkish Lira up about 4.4% with other EM currencies up as well (RUB, ZAR, MXN). – […]

Advance Auto Parts Beats Sales, Earnings Expectations as Outlook Bolstered for 2018

Advance Auto Parts Beats Sales, Earnings Expectations as Outlook Bolstered for 2018

Advance Auto Parts (AAP) reported better-than-expected results for its second quarter, with a turnaround in comparable store sales bringing a higher view for the aftermarket parts retailer’s full-year outcome. The Roanoke, Virginia-based company said net sales rose 2.8% in the second quarter to $2.33 billion, beating the consensus on Capital IQ for $2.26 billion. Adjusted earnings increased to $1.97 a […]

Canada’s Housing Starts Post Bigger Decrease Than Expected as Multi-Unit Developments Slide

Canada’s Housing Starts Post Bigger Decrease Than Expected as Multi-Unit Developments Slide

Housing starts decreased last month in Canada, posting a bigger pullback than analysts expected to scale back part of June’s surge with the retreat seen in new multi-unit developments. The starts came in at 206,314 on an annualized basis from 246,200 in June, a rate that was the highest since November of last year, the Canada Mortgage and Housing Corp. […]

European ADRs Move Lower in Thursday Trading

European ADRs Move Lower in Thursday Trading

American Depository Receipts of European stocks were trading 0.48% lower at 138.03 on the Bank of New York Mellon Europe ADR Index on Thursday. In continental Europe, the gainers were led by geophysical equipment company CGG (CGG), and 3D printer company voxeljet (VJET), which rose 3% and 2.4% respectively. They were followed by gene therapy company Cellectis (CLLS), and marketing […]

Rio Tinto Mulls Public Listing of Canadian Iron Ore Unit

Rio Tinto Mulls Public Listing of Canadian Iron Ore Unit

Rio Tinto (RIO) is exploring an option to publicly list its Iron Ore Company of Canada business as the mining giant aims to improve revenue from its flagship Australian assets, Reuters reported, citing banking and industry sources. Iron Ore is one of Canada’s biggest producers of iron ore. In 2017, it generated revenue of $1.9 billion. It is 59% owned […]

Party City Plans Amazon Sales With Halloween Season as Earnings, Revenue Just Beat Views

Party City Plans Amazon Sales With Halloween Season as Earnings, Revenue Just Beat Views

Party City (PRTY) will start selling some of its products on e-commerce giant Amazon.com (AMZN), extending online sales from its own website while also reporting slightly better-than-expected results for the second quarter. The Elmsford, New York-based decorations company said it will start the pilot program before this year’s Halloween season and will “initially offer a curated product assortment focused largely […]