A judge has tentatively ruled that California can require chemical giant Monsanto to label its popular weed-killer Roundup with warnings that it could cause cancer. The company had sued the nation’s leading agricultural producing state, saying California officials illegally based their decision for carrying the labels on an international health organization.
Day: January 27, 2017
Feds: 2 charged in scam banking on ‘Hamilton,’ Adele shows
Two men have been charged in New York with cheating wealthy people who invested in ticket businesses for popular shows like an Adele concert and Broadway’s “Hamilton.” Authorities say they enticed wealthy people in 13 states to invest $81 million in businesses that would buy large blocks of tickets for major concerts and musicals.
Everything You Need to Know About Luxottica and Essilor’s $50 Billion Merger
Take two leading companies in the eyewear industry, combine them, and what do you get? In this case, say hello to EssilorLuxottica. In this episode of Industry Focus: Consumer Goods , Vincent Shen and Asit Sharma dig into the details behind this mega-deal.
Everything You Need to Know About Luxottica and Essilor’s $50 Billion Merger
Take two leading companies in the eyewear industry, combine them, and what do you get? In this case, say hello to EssilorLuxottica. In this episode of Industry Focus: Consumer Goods , Vincent Shen and Asit Sharma dig into the details behind this mega-deal.
California clears hurdle for cancer warning label on Roundup
California can require Monsanto to label its popular weed-killer Roundup as a possible cancer threat despite an insistence from the chemical giant that it poses no risk to people, a judge tentatively ruled Friday. Monsanto had sued the nation’s leading agricultural state, saying California officials illegally based their decision for carrying the warnings on an international health organization based in France.
California clears hurdle for cancer warning label on Roundup
California can require Monsanto to label its popular weed-killer Roundup as a possible cancer threat despite an insistence from the chemical giant that it poses no risk to people, a judge tentatively ruled Friday. Monsanto had sued the nation’s leading agricultural state, saying California officials illegally based their decision for carrying the warnings on an international health organization based in France.
Ajit Pai can restore regulatory humility to the FCC
As one of his first actions on office, President Trump selected Ajit Pai to be the next chairman of the Federal Communications Commission. It was a phenomenal choice.
Exclusive: The Super Secure Presidential Phone
The Defense Information Services Agency, or DISA, developed the phone with help from Boeing and other partners, the phone “goes with the office” of the president. The DISA phone emerged from the agency’s Mobility Classified Capability program.
Steve Harvey Wins Trial Over Unreleased Comedy Tapes
A jury finds that a videographer didn’t have a valid agreement with the comedian for rights to 120 hours of footage. The tapes included negative racial, gender and sexual comments.
The long, long reach of Newton Minow
Newton Minow doesn’t know why he’s called that. He says it’s a family name. He had cousins named Newton.
Consumer Financial Protection Bureau Fights to Stay Alive Under Trump
The gloves are off. Supporters of the Consumer Financial Protection Bureau, the brainchild of Senator Elizabeth Warren , which is tasked with protecting consumers against financial fraud, unleashed a legal tsunami this week in efforts to save CEO Richard Cordray and stay independent under the Trump administration.
Would Donald Trump Really Put America Back on the Gold Standard?
Donald Trump is going to have a busy first 100 days in office. Based on his plan of action, released just hours after declaring victory in November, Trump plans to tackle dozens of policies ranging from tax reform to repealing and replacing the Affordable Care Act.
What We Learned From the 2016 Retail Sales Numbers
The U.S. Census Bureau recently released its Retail Trade Report for 2016. Despite negative news around the globe, a hotly contested U.S. presidential election, and numerous threats to the economy, consumers upped their spending compared to the previous year.
Stock Market Under Pressure After Weak Data, Earnings
U.S. stocks Friday morning were trading slightly lower as investors weighed disappointing fourth-quarter data on domestic economic growth and a spate of earnings, including disappointing results from Dow component Chevron. Still, the main indexes were on track to book weekly profits during a period marked by the Dow surpassing the psychologically important level of 20,000.
Raytheon Earnings: Here’s the 1 Number That Matters Most
We laid out the expectations for Thursday’s earnings report for you earlier this week. According to Wall Street’s best guesses , Raytheon was supposed to report earning $2.2 billion in profit on $24.4 billion in revenue, and generate even more cash profit than it was allowed to report as “net income” under GAAP — $2.5 billion in positive free cash flow, to be precise.
Pound ETF Still Faces Hurdles as Brexit Course Continues
After ranking as one of last year’s worst-performing developed market currency exchange traded funds, the CurrencyShares British Pound Sterling Trust has cobbled together some modest upside to start 2017. However, the British pound still faces multiple challenges as Great Britain sets out on its Brexit course.
Northrop Grumman Crushed It on Earnings — Then Sold Off
Heading into earnings day on Thursday, I noted that Northrop Grumman had already come a long way toward meeting Wall Street’s targets for fiscal 2016, having already made three-quarters of the revenue it was supposed to collect and 81% of the profits it was supposed to earn. Nevertheless, the company was issuing cautious guidance of its own for the year, which seemed to imply there was a risk Northrop would fail to deliver.
Iridium Communications Stock Roars Higher
While initial investor exuberance over potential Trump-fueled spending that could benefit the company may have gotten the party started, the real reason for the rise in share prices is more likely that the company’s new satellite array is finally launching. Iridium’s stock is up roughly 11% over the past six months or so.
The First Signs of a Rapid Shale Recovery Showed Up in Helmerich & Payne’s Earnings Report
For the past six months or so, the U.S. oil and gas industry has been increasing activity in fits and starts. Sure, we saw an uptick in active rigs, but most of the oil services companies would have told you that it was a red herring because of the type of work it was producing.
Do You Have a Financial Plan? Here’s Why You Need One
Some people think financial planning is only for the rich, but in reality, anyone can benefit from a solid financial plan, regardless of age or income level. And apparently, more Americans are coming to agree with this sentiment.
Boeing Co. Investors Should Listen To This Company’s Outlook
Let’s take a look at what was said and what it means to the aviation industry and for Boeing. Management maintained the guidance it gave in October, so no surprises there.
Better Buy: Baidu, Inc. vs. Facebook
The divergent fortunes of Facebook and Baidu shares over the past year only reinforce their apparent differences. However, though their core businesses today touch different areas of the global technology market, Facebook and Baidu are united in their ongoing efforts to shape some of technology’s most important future growth markets.
After Sharp 4Q Slowdown, Are Trump’s Policies the Prescription America Needs?
U.S. economic growth saw a sharp slowdown in the final three months of 2016 as a drop in exports offset continued strength from consumer spending and business investment. While economists forecast more growth in the year ahead, they warned policy surprises from the Trump administration could make for a bumpy ride.
4 Reasons American Outdoor Brands Corp Stock Could Fall
Even though the stock is down just 2% over the past year, it’s lost about a quarter of its value since the election and plunged more than 35% from its 52-week high. As bad as that is, things can get worse.
Teamsters’ Hoffa says TPP Withdrawal a ‘Big Victory’ for Unions
International Brotherhood of Teamsters President James Hoffa on President Trump's trade policy working with Trump to create jobs, the Keystone Pipeline XL and the debate over a minimum wage increase. “This was basically NAFTA on steroids,” Hoffa told the FOX Business Network’s Maria Bartiromo.
Serena vs Venus: a Williams Sibling Rivalry Worth $116M
Serena and Venus Williams’ match this Saturday in the 2017 Australian Open final is not your average sibling rivalry – it is also a clash of two of the tennis world’s most lucrative brands. For Venus, 36, the match in Melbourne marks an opportunity to score an upset victory in a long-running duel.
Ghost of 1990s Is Haunting Dollar and Slowing Further Gains
A new dynamic entered the $5.1 trillion currency market in recent days, as the dollar failed to keep pace with a rise in U.S. Treasury yields. One reason: traders are increasingly aware of the example of the period in the Clinton administration when a widening yield advantage didn’t work in the dollar’s favor, says Shusuke Yamada, chief Japan currency and equity strategist at Bank of America Merrill Lynch in Tokyo.
Honeywell Misses 4Q Earnings Estimates, Maintains 2017 Guidance
Honeywell misses earnings estimates for the fourth quarter but holds its 2017 guidance in place in what will be one of the final presentations for outgoing CEO Dave Cote. Honeywell International missed earnings estimates for the final three months of the year but held its 2017 guidance in place in what will be one of the final presentations for outgoing CEO Dave Cote.
A Trump Tariff on North American Auto Trade Could Kill Jobs, Not Increase Them
Could President Donald Trump’s initiative to increase automotive manufacturing in the U.S. actually kill more jobs than it creates? By raising tariffs as high as 35% in a bid to force production to the U.S. from Mexico and Canada, the U.S. would increase costs, force new investment in plants and dampen sales by General Motors , Ford and Fiat Chrysler Automobiles . The CEOs of the three automakers met with the president for breakfast on Tuesday.
Voter fraud
A woman who was arrested after voting twice for Donald Trump – and in the process becoming a flash point in the voter fraud debate – is incompetent to stand trial, her attorney said in a motion filed in Iowa court. Terri Lynn Rote, 56, was accused in late October of casting two ballots in the general election: an early-voting ballot at the Polk County Election Office and another at a county satellite voting location, according to police records.
How to Get Something for Nothing
Our mothers warned us that you can’t get something for nothing. Their advice was clearly meant in good faith, but I’m sure my Mom was not well versed in the little known art of option writing.
Trader’s Daily Notebook: What If This Isn’t a Bull Trap?
Thursday’s regular-session E-Mini S&P 500 futures auction turned out to be a pretty quiet event, with fewer than 1 million contracts changing hands over an anemic seven-handle range. However, for those not keeping detailed notes, the contract still managed to close above its upper Bollinger band for the second day in a row.
How To Stop Busywork From Holding Your Career Progress Back
Chances are you spend a lot of your day on useless busywork without even realizing it. Here’s how to spot it and eliminate it.
Why a Ceo’s Success Might Depend On Their Experience Of Board Diversity
A new CEO often has big shoes to fill: Just ask Starbucks CEO Howard Schultz’s successor Kevin Johnson as he takes over the helm this year. But if there isn’t a clear successor, a company will look further afield to find a new leader .
Tesco merges with Booker in $4.7 billion deal
Tesco, Britain’s biggest supermarket chain, has agreed to buy food wholesaler Booker Group for 3.7 billion pounds , as it seeks to boost growth by supplying products to rivals such as convenience stores and independent retailers. Tesco says it will pay the equivalent of 205.3 pence in cash and stock for each Booker share, 12 percent more than the closing price on Jan. 26. CEO Dave Lewis says the merger will “enhance Tesco’s growth prospects by creating the U.K.’s leading food business with combined expertise in retail, wholesale, supply chain and digital.”
Restaurant Brands to launch Tim Hortons in Mexico
Restaurant Brands International Inc said it would launch its coffee and doughnut chain, Tim Hortons, in Mexico as a part of its expansion plans. The company said it would form a master franchise joint venture with a group of investors, whom they did not name, to launch the brand.
Oil Heads for Second Weekly Gain as OPEC Continues Output Cuts
Oil headed for a second weekly increase as OPEC and other producing nations maintained they would achieve their target of cutting production to reduce bloated global inventories and stabilize the market. Front-month futures in New York are up 2.3 percent for the week, set for the biggest advance since Dec. 2. OPEC and other producers are due to reach the 1.8 million-barrel-a-day reduction target next month, Algeria’s Energy Minister Noureddine Boutarfa said Thursday.
BT Ceo Says Company Was Deceived by a Few Employees in Italy
BT Group Plc Chief Executive Officer Gavin Patterson sought to distance himself from an accounting scandal in Italy that’s rocked the U.K. phone company, pointing the blame squarely on a few rogue employees and removing the head of European operations under whose watch the activities occurred. “It was a very sophisticated manipulation of the profitability of the business,” Patterson said on a conference call Friday.
Sumitomo Mitsui Hiring Barclays Private Bankers as Ties End
Sumitomo Mitsui Financial Group Inc. will hire about 20 private bankers from Barclays Plc in Japan as the two companies end a six-year alliance and the U.K. bank scales back its wealth-management business in the country. The bankers will join the lender’s brokerage unit in April, said Kouichi Shibata, a spokesman for SMBC Nikko Securities Inc. in Tokyo.
UBS Clients Pull $15 Billion in Quarter as Margins Decline
UBS Group AG said clients pulled a net 15.2 billion francs in the final three months of last year, and margins at its wealth management business declined for a third straight quarter, even as rising stock markets and higher interest rates in the U.S. lifted earnings. The bank fell as much as 3.6 percent in Zurich trading, pulling other wealth managers lower, after saying all of its money management units saw net redemptions last quarter.