'Game changing' oil jump challenges supereasy central banks
LONDON This year's 65 percent rebound in oil prices mirrors 2015's premature recovery but if sustained it will lift headline inflation rates with many central banks ever deeper into emergency deflation-fighting mode.Even if Brent crude just stays where it is now, economists reckon its steep rally from January's 12-year lows could add well over a percentage point to inflation next year."Central bank policy operates with a lag of around 18 months so the principal concern should be where's inflat..>> view originalUPDATE 1-Southwest Air tops profit estimates, sees unit revenue rise
Southwest Airlines Co (LUV.N) on Thursday reported first-quarter profit above estimates and said it will retire old planes earlier than planned, rolling back its growth plans and taking some competitive heat off rivals.The No.4 U.S. airline by traffic said it grew profit 13 percent in the first quarter from a year ago to $511 million. Excluding special items, it earned 88 cents per share, compared with 84 cents per share that analysts on average were expecting, according to Thomson Reuters I/B..>> view originalAlphabet Earnings Miss Forecasts, as a Key Google Ad Metric Stumbles
Photo Alphabet’s stock price on the Nasdaq MarketSite in New York in February. On Thursday, as soon as its earnings were released, the stock fell about 5 percent. Credit Mark Lennihan/Associated Press Google is in trouble with European regulators. Wall Street is not thrilled with it either.The Silicon Valley company, which reorganized itself into a holding company called Alphabet last year, fell short of earnings and revenue forecasts on Thursday when it reported first-..>> view originalSunEdison Filing Leaves Renewable Energy Developers Unfazed
Renewable energy companies distanced themselves from the collapse of SunEdison Inc., saying the largest bankruptcy in the U.S. this year won’t harm the industry.The world’s biggest developer of clean-energy projects sought protection from creditors after racking up $16.1 billion of liabilities following a $3.1 billion expansion spree that spooked investors and industry partners.The bankruptcy says more about SunEdison’s “relentless pursuit of growth” than the solar industry as a whole, said Jen..>> view originalStock indexes close lower as market's three-day rally ends
A steep slide in traditional safe-play stocks such as phone companies and utilities weighed on Wall Street on Thursday, snapping a three-day winning streak for the market.The broad decline came as investors pored over company earnings for clues about the health of corporate America and the trajectory of the U.S. economy. Oil prices also fell, extending losses for the battered energy sector. “Today might be a little bit of profit-taking after such a big run here,” said Jeff Kravetz, regional inv..>> view originalSears and Kmart Are Closing 78 More Stores
Sears Holdings shld announced yet another round of store closings as it continues to shrink its fleet of stores amid chronic sales declines at its namesake department stores and the Kmart discount chain. The retailer said it would close 68 Kmart locations and 10 Sears stores this summer. It had said in February, when it reported its 11th straight year of comparable sales decline, it would speed up the paring of its fleet. The closings will leave Sears with fewer than 700 department store..>> view originalVW forges US deal arising from diesel emissions scandal
SAN FRANCISCO/WASHINGTON Volkswagen AG, driving to move beyond a scandal that has disrupted its global business and sullied its reputation, announced a sweeping U.S. deal on Thursday to buy back or potentially fix about a half million polluting diesel cars and set up environmental and consumer compensation funds.The settlement, which sources and analysts said could cost VW (VOWG_p.DE) at least $10 billion, is not likely to end the Dieselgate controversy that began last September when the world..>> view originalUS jobless claims hit 42-1/2-year low as labor market firms
WASHINGTON The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting its lowest level since 1973, suggesting an apparent sharp slowdown in economic growth in the first quarter could be temporary.While another report on Thursday showed a mild weakening in factory activity in the mid-Atlantic region in April, manufacturers were fairly upbeat about business prospects in the next six months. This, together with labor market buoyancy bodes well for a pick-up in e..>> view originalMicrosoft's weak phone sales drag down its Surface and cloud wins
Microsoft's acquisition of Nokia is proving to be quite the albatross around the company's neck. The company has stepped away from focusing on phones, and its handset sales revenue fell by almost half in the first quarter. Microsoft sold only 2.3 million Lumia phones during the quarter, 73 percent fewer units compared with the first quarter of 2015. That meant Lumia handset revenue fell 46 percent. This dragged down the company's overall device revenue despite major gains in its Surface busi..>> view originalStarbucks sales up as new stores, customer loyalty grow in Q2
Starbucks employees serve customers during the official opening of South Africa's first Starbucks store, also the US coffeehouse chain's first store in Sub-Saharan Africa, in Johannesburg on April 21, 2016.(Photo: GIANLUIGI GUERCIA, AFP/Getty Images)Starbucks (SBUX) reported a 16.2% increase in second quarter earnings Thursday as the coffee company benefitted from rapid growth and continued to acquire new customers.The Seattle-based company said sales were the best of any non-holiday quarter eve..>> view original
Thursday, April 21, 2016
'Game changing' oil jump challenges supereasy central banks and other top stories.
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