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VeriFone Systems Inc (PAY) is Downgraded by Piper Jaffray to Neutral

The mean price target is calculated keeping in view the consensus of 15 brokerage firms. The stock price demonstrated downbeat change from its 50 day moving average of 19.18 and had been down from its 200 Day Moving Average of 23.50. VeriFone Systems Inc (NYSE:PAY)'s mean EPS estimate was $0.40 for the quarter ended on 10/2015, while it reported EPS of $0.45 on 12/14/2015 After Market Close, beating the analysts' consensus estimate by 0.05 with surprise factor of 12.50%.

Business

Pound jumps as UK manufacturing activity rebounds

Against the yen, the dollar was down 0.1 percent at 103.29 yen, having hit a one-month high of 103.540 yen on Wednesday after a slightly stronger-than-expected ADP Report for August. The move towards stabilization chimes with the more upbeat United Kingdom manufacturing PMI data for August, and provides hope that the near-term fallout from the "Brexit" uncertainty will prove less severe than feared, said Moore.

Business

Risk that Zika will spread further in United States, elsewhere

Malaysia meanwhile reported its first case this morning: a woman of 58 who had travelled from Singapore ten days ago. But the most serious fallout from Zika is the potential for birth defects among infants born to women infected during pregnancy.

Business

Tesla postpones details on Autopilot update

Tesla reveled on Wednesday in its SEC filing that it needs more funding to keep the development of its cheap Model 3 electric auto on track. On Thursday, shares of Tesla declined as much as 5.4%, falling to a session low of $200.51 on more than twice its normal trading volume.

Business

California moves to add methane limits to climate agenda

Opponents to the bill say the bill will have devastating impacts on small, independent farmers and the workers they employ. On Monday, state lawmakers passed a law that would give the state's 825,000-plus farmworkers overtime protection, requiring them to be paid more for extra hours like all other workers.

Business

Delta says it lost $100 million in revenue due to big outage

About 300 of the airline's 7,000 servers weren't wired to backup power, the company had said. The company announced the effects in a performance report it routinely issues at the start of a month. A fire and failure of a piece of equipment at Delta's Atlanta headquarters on August 8 caused a massive outage of the airline's computer systems, temporarily grounding flights and leading to three days of heavy cancelations and delays.

Business

China's Hangzhou gets facelift ahead of G20 Summit

China is trying hard to make the two-day G20 summit an endorsement of the country's rising power and global leadership, although China domestically is grappling with a persistent economic slowdown, quickly rising debt level and an army of zombie industrial companies.

Business

US trade deficit fell in July

Imports declined 0.1% on the month with volumes down 1.2% with total imports declining 2.6% over the year. Goods were $124.1 billion in July, up from $120.6 billion, while services were $62.3 billion in July, down less than $0.1 billion from June.

Business

JetBlue Completes First US-Cuba Commercial Flight In Over 50 Years

The announcement was timed to coincide with the first scheduled commercial flight to the provinces, as JetBlue flew from Fort Lauderdale, Florida, to the Cuban city of Santa Clara on Wednesday. All of a sudden, a weekend getaway to Cuba is a real possibility for millions of Americans. The Fort Lauderdale-Santa Clara route is among a number of Cuban services planned by JetBlue, which will eventually operate up to seven daily flights to the country.

Business

USA dollar rallies on rate-hike expectation

When the Fed was buying corporate bonds, companies were all too willing to take the money with interest rates at practically zero. Gold was unlikely to break below $1,300 before Friday's data, he said. "Gold prices are under pressure but attention is fixed on Friday's July unemployment data". (Recasts; updates prices; adds comment, byline, NEW YORK dateline) * SPDR Gold holdings register first monthly dip in four months * Platinum, palladium hit multi-week lows By Marcy Nicholson and ...

Business

US DOLLAR Technical Analysis: Fed Tempts Dollar Bulls To Bite

Chandler said the ISM manufacturing data, which drove the dollar and Treasury yields lower, will not be a factor for the Fed since it represents a small part of the economy. I think they're very cautious. Bill Gross, the billionaire manager of the Janus Global Unconstrained Bond Fund, isrecommending that the Fed raise interest rates twice by as early as March, with the first hike at this month's meeting.

Business

First commercial US-to-Cuba flight in 50+ years takes off

We're thrilled to partner with Southwest Airlines on this new scheduled flight to Havana", TIA CEO Joe Lopano said in a press release. The flight was the first of 110 expected daily trips connecting United States cities to airports in the Communist-run island, many of them in or near tourism hotspots.

Business

Canadian prime minister leaves for China for visit, G20 summit

The Chinese Premier said that the two sides have discussed establishing a dialogue mechanism on national security and law, and agreed to making full use of an annual meeting between foreign ministers. allies including Britain, Germany, Australia and South Korea. Li said the two countries had witnessed deepening relations in such areas as politics, trade, culture and people-to-people exchanges since the establishment of diplomatic relations 46 years ago.

Business

Real estate prices finally dropping in Metro Vancouver: realtor

The provincial government had also begun to signal a policy shift by beginning to collect data on foreign ownership earlier this year and ending self-regulation of the real estate industry in June, he said. The number of total properties sold dropped almost 23 per cent between July and August. The B.C. government announced the change on July 25 to the province's property transfer tax, affecting foreign buyers who acquire homes in the political entity known as Metro Vancouver.

Business

United Kingdom manufacturers report 'solid rebound' in August

That was the joint greatest month-to-month jump in the survey's almost 25-year history. The gains in the indices tracking output and new orders were similarly among the steepest on record. The weak pound makes United Kingdom goods and services cheaper for overseas buyers, increasing the cost of imports. Markit said the fall in the value of the pound triggered by the referendum result had helped to push up overseas orders, while domestic output also bounced back and employment rose for the ...

Business

Stocks gain as tepid jobs report stokes hopes for low rates

The stock market has benefited from lower rates since it translates into cheaper borrowing costs for US companies, and the market has tended to the bristle at the idea of those ultraloose levels ending soon. Factory orders in the US rose 1.9% in June, slightly weaker than an expected 2% gain. The timing of the next rate hike could also be determined by wage growth.

Business

Yum says it will sell stake in China unit ahead of spinoff

Primavera and Ant will buy shares at an 8 percent discount to the average price at which Yum China's stock trades between 31 days and 60 days after they are distributed to Yum Brands' shareholders. The deal will also help Yum China and its restaurants provide mobile payment and data services. Brands will become primarily a franchised company while Yum China will be a franchisee.

Business

Hanjin bankruptcy causes global shipping chaos, retail fears

Already, it says that " terminal operators , ports and other cargo handlers are refusing to release cargo without assurances that payments will be made". This means the shippers have to retrieve their 540,000 containers by finding other ships, which is likely to be very tough in the ongoing ocean line peak season of August to October.

Business

Clinton slams EpiPen price hike, calls on drug company to lower cost

While the price of EpiPen had risen about 60 percent in the years before the legislation was approved, it soared after President Obama signed it into law. "The substantial price increase has caused significant concern among patients", the Iowan Republican wrote in the letter dated Monday. So, who is Bresch , and what is her backstory? Also Wednesday, Bernie Sanders (I-Vt.) took to Facebook to declare "Mylan's greed is apparently limitless".

Business

Unorganized storm predicted to enter Gulf, but its path is uncertain

Invest 99L is moving west through the Straits of Florida, according to the latest update from the National Hurricane Center . Interests elsewhere in Florida and the eastern Gulf of Mexico should continue to monitor the progress of this disturbance.

Business

It is "total political crap", 0.005% rate is a "false number"

Echoing an open letter published earlier in the week, Cook said that the claims that Apple was given preferential treatment and special tax arrangements in Ireland have "no basis in fact or in law". While the Commission claims that Apple paid a minimal 0.005% corporate tax rate on its profits in 2014, Mr. Cook says that the company paid €400 million euros in Ireland that year and estimates paying 26% averagely on its earnings worldwide.

Business

USA stocks higher amid focus on possible Fed rate rise

The stocks went up. According to Ryan Larson of RBC Global Asseet Management, the statement did not come as a surprise. Investors already expected that the Fed chair will give its assent and hike the interest rates soon and at an appropriate time.

Business

Gold holds above two-month low as investors await United States jobs data

The US CB consumer confidence in August came in at 101.1 on Tuesday, above the forecast of 97.2. The US dollar wavered against the yen and euro on Thursday, its advance put on hold ahead of the closely-watched US non-farm jobs report on Friday which is expected to shape the market's near-term interest rate expectations.

Business

Obama's last summit: Does the G20 still matter?

Large numbers of people were seen standing in line to buy a commemorative stamp marking the G20 Leaders Summit in Hangzhou, capital of Zhejiang province, when a China Daily reporter visited the event's media center on Friday. G20 leaders met for the first time in November 2008 in Washington in the throes of the worst global financial crisis in decades, and the following series of summits played an indispensable role in pooling worldwide efforts to tide the world over.

Business

2 commuter buses collide in New Jersey; no word on injuries

Several passengers described seeing the other bus barrelling towards them. "We are not positive about that, but that is what is being said", he said. Jesy Garcia of Newark (center) was killed in the NJ Transit bus collision in Newark on Friday, her family says.

Business

Pound surges as manufacturing sector bounces back after post-Brexit slump

The seasonally adjusted Barclays/Bureau for Economic Research purchasing managers index (PMI ) - which gauges activity in the manufacturing sector - surprisingly declined by 6.2 index points to 46.3 in August. Both of these reports also indicate declining inventories. Recent data have shown consumer demand holding up, and Thursday's survey suggests manufacturing, which accounts for 10 percent of Britain's economy, is weathering the impact of the vote better than feared.

Business

Mylan tries again to quell pricing outrage by offering generic EpiPen

People usually keep a number of EpiPens handy at home, school or work. With Generic Adrenaclick, you remove two grey caps, push a red tip against your outer thigh until the needle punctures your skin, and then wait 10 seconds until the drug is fully injected.

Business

Dollar on defensive after manufacturing disappoints ahead of jobs data

The dollar index, which measures the currency against a basket of six majors, rose as high as to 96.255, its highest since August 9, before falling back to 96.005, marginally down on the day. But a calendar quirk could mean a soft reading, which would pull down the year-on-year from 2.6 percent in July. Other details of the report showed the labor force participation rate, or the share of working-age Americans who are employed or at least looking for a job, unchanged at 62.8 percent last month.

Business

Canada will be able to continue with current canola export regime -Trudeau

Saint-Jacques said the prime minister also made it clear that any deal with China must "address the impact of state-owned enterprises" and procurement. In June China's Foreign Minister Wang Yi berated a Canadian journalist while visiting Ottawa for questioning Beijing's human rights record, saying her question was "full of prejudice and arrogance" and that she had "no right to speak".

Business

DraftKings Grabs $153M From Revolution Growth, Other Unnamed Backers

In a statement DraftKings' CEO Jason Robins alluded to this, saying that the firm has deep expertise in "sports, technology, and policy". Wehad first reported on the round last week, albeit without the specific dollar amount. The fantasy-sports industry generated an estimated $26 billion in spending in North America a year ago. ESPN also reported that both companies owed millions to lobbyists, lawyers and others and that DraftKings has tried to renegotiate contracts with vendors and ...

Business

Wall Street gains as financials rally on Fed rate comments

Stock-trading volume hit its lowest level of the year on Monday and is expected to continue to be fairly thin as investors and traders typically vacation ahead of the U.S. Conference Board data showed U.S. consumer confidence rose to 101.1 in August, beating economists' expectations for a dip to 97.0, according to a Reuters poll.

Business

Sidhu forms new front 'Awaaz-e-Punjab'

We have come together to fight traditional politics of dishonesty and corruption. Sidhu has formed the political front along with former hockey player Parghat Singh and Bains brothers. "This will be against those working against Punjab", Sidhu told reporters. "People are with us". He alleged that the Aam Aadmi Party, "which talked about giving an alternative to the people of Punjab has been exposed by its own people".

Business

US average 30-year mortgage rate rises to 3.46 percent

Gold trades in narrow range ahead of US data * Bullion on track for second straight weekly fall * Platinum off two-month lows, palladium off six-week lows * GRAPHIC-2016 asset returns: reut.rs/1WAiOSC (Updates throughout, adds LONDON dateline) By Zandi Shabalala LONDON, Sept 2 (Reuters) - Gold edged lower on Friday, heading for its second consecutive week of losses as the dollar strengthened ahead of U.S.jobs data expected to provide clues on the timing of a possible interest rate hike.

Business

Tim Cook calls Apple's giant Irish tax bill 'total cr-p'

Despite the suggestion made earlier in the week that the ruling might damage investment in the EU , Cook was keen to assert that the company will continue investing in Ireland. "The EU, leading the way in the fight for tax justice , has shown that no one is above the law". Meanwhile, the EU's top competition official Margrethe Vestager on Thursday rejected suggestions that the commission's move against Apple was politically motivated.

Business

US Claims 'Calm' in Northeast Syria But Turkey Presses Attacks

U.S. North Atlantic Treaty Organisation ally Turkey has designated the PYD and its military component, YPG, to be the Syrian wing of PKK, which has been deemed a terrorist organization by both Washington and Ankara. Last week, Syrian rebels backed by Turkish forces launched a surprise offensive to clear both Islamic State and Syrian Kurdish forces from the Syria-Turkey frontier.


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