Wall Street swings higher in sharp rebound

U.S. stocks closed mostly higher on Wednesday, recovering from sharp intraday declines as gains in energy offset earlier pressures from growth concerns.( Tweet This ) “We did hold the lower end of that support level range (on the SP 500),” said Peter Cardillo, chief market economist at Rockwell Global Capital. “Probably more important is we […]

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Google to become Alphabet as firm shakes up operating structure

Investors have been after Google (GOOGL) CEO Larry Page for years to cut back on the pie-in-the-sky bets that many see as a costly distraction to the company’s highly profitable core search and Internet advertising businesses. On Monday, Page and partner in crime/Google co-founder Sergey Brin came up with an unprecedented solution: create a new […]

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Greek government says poring over draft of third bailout agreement

ATHENS (Reuters) – Greek government officials are poring over a draft of the country’s third bailout agreement drawn up on the basis of discussions with EU/IMF lenders, a government official said on Saturday, boosting hopes a deal could be wrapped up in days. Athens is racing to wrap up the bailout agreement of as much […]

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McDonald’s cuts 225 jobs in push to revive business

NEW YORK (AP) — McDonald’s says it is cutting about 225 corporate jobs as part of a push intended to revitalize its flagging business. The world’s biggest hamburger chain says the cuts include about 135 positions at its corporate headquarters in Oak Brook, Illinois, where it says it has about 2,100 employees. An additional 90 […]

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$6 eggs could be on the way

Egg sticker shock at the grocery store could soon get even worse, one analyst warns. Squeezed by limited supply because of the worst avian flu outbreak in three decades, egg prices have already risen sharply this year. But BBT Capital Markets analyst Brett Hundley said retail prices could surge even higher. An uptick to more […]

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Only a payrolls surprise could shake stalling market

By Rodrigo Campos NEW YORK (Reuters) – Unless next week’s payrolls report is an outlier, investors should expect a continuation of the directionless market that has kept the SP 500 trading in place for most of the year. Should July post strong job gains, it would point to an economy strong enough for the Federal […]

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Extended slump in oil taking toll on industry, economy

NEW YORK (AP) — As drivers, shippers and airlines continue to enjoy lower fuel prices, the oil industry is responding to much lower profits with sharp cuts in spending and employment that are hurting economic growth. Low oil and gas prices are good for the overall economy because they reduce costs for consumers and business. […]

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Facebook Q2 results top views, but shares fall

Facebook (FB) revealed stronger-than-expected second-quarter profits and sales after the close on Wednesday, but it wasn’t enough to impress investors and the firm’s shares fell slightly in extended trading. The world’s biggest social network said it earned adjusted profits of 50 cents a share, up 16% from a year ago and topping Wall Street analysts’ […]

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Wall Street slides in wake of China crash

U.S. stocks fell, with equities posting their longest losing streak since January, after the biggest slump in eight years for Chinese shares amid concern over the nation’s economic growth. Apple Inc. slipped 1.4 percent after its worst week in six months. Baidu Inc., China’s largest search engine, lost 4.2 percent. Alibaba Group Holding Ltd. retreated […]

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Greek bailout talks pushed back by a few days on logistics-official

By Angeliki Koutantou ATHENS (Reuters) – Talks between Greece and its international creditors over a new bailout package will be delayed by a couple of days because of organizational issues, a finance ministry official said on Saturday. The meetings with officials from the European Commission, European Central Bank and International Monetary Fund were supposed to […]

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