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Puerto Rico files for biggest U.S. municipal bankruptcy

More than 2,000 investors have already filed claims based on representations from the island broker-dealers that the bonds were safe. "We have reached this decision because it protects the best interests of the people of Puerto Rico", said Rossello, who took office in January.

Business

Saw Kejriwal receive Rs 2 cr in cash: Mishra

In a tell-all press briefing at Rajghat a day after he was sacked, the AAP leader said he had given a statement to lieutenant-governor Anil Baijal on various irregularities that he had seen during his two-year tenure in Mr Kejriwal's Cabinet.

Business

Featured Stock to Focus: Ascena Retail Group Inc. (ASNA)

Looking about the past performance history, the company plunged -2.01% in past week and declined -7.13% in one month. Analysts on average have given a price target of $5.81 to Ascena Retail Group Inc. FBR & Co set a $7.00 target price on shares of Ascena Retail Group and gave the company a "hold" rating in a research report on Wednesday, December 14th.

Business

Berkshire Hathaway shareholder events continue Sunday

Previous year the shares rose more than 23%, nearly twice the rise in the S&P 500 (plus reinvested dividends) and the 10.7% rise in the book value of Berkshire Hathaway shares. Despite the earnings shortfall, Buffett's preferred measure of growth for Berkshire, book value per Class A share, or assets minus liabilities, rose 3.5 percent in the quarter to $178,073.

Business

OPEC likely to agree to cut oil production again in May meeting

CRUDE CONCERNS: U.S. benchmark crude futures fell under the key $45 level after tumbling almost 5 percent during U.S. trading. Baku, Fineko/abc.az. The weakness in commodities washed over to stocks, countering some fairly solid earnings reports and some cautious optimism about U.S. President Donald Trump's reform plans after the U.S.

Business

North Korea holds fourth U.S. citizen for 'hostile acts'

A United States citizen has been detained by North Korea, media reports said. "We are aware of reports that a USA citizen was detained in North Korea ", the statement said. Kim works for the Pyongyang University of Science and Technology. A Kushner Companies spokeswoman declined to comment in a "New York Times" article about the Beijing event published on Saturday.

Business

Google's Sundar Pichai Received Nearly $200 Million in Compensation in 2016

Revenues at this "Other Bets" division climbed to $244m (£189m), up from $165m (£127m) in the year-ago quarter, mostly thanks to Nest, Verily and Fiber. In response to criticism from both users and advertising customers, Google will be altering its YouTube advertising policies to give advertisers more control over where their ads are placed.

Business

The economy is barely growing. These are 3 theories why

The survey was, however, conducted before Thursday's advance data on the March goods trade deficit and inventories, which saw many economists lowering their first-quarter growth estimates. Many of them may not, but they're still out there and drawing off other resources instead, and that will have an impact on future growth, too. Government spending on defence declined at a 4.0 percent pace, the biggest fall since the fourth quarter of 2014 and second quarterly drop.

Business

Mexican Economy Maintains Growth in First Quarter

Trump has taken credit for increased consumer confidence, growing employment and record gains on the stock market in recent months. The price index for gross domestic purchases increased 2.6 percent in the first quarter, compared with an increase of 2.0 percent in the fourth quarter.

Business

North Korea accuses United States of assassination plot against Kim Jong Un

State media claims USA and South Korean intelligence agencies were working together with an unidentified terrorist group to carry out an attack, possibly with a biochemical weapon at a military parade. The US has sent a warship to the region and installed a controversial anti-missile defence system in South Korea. Tension on the Korean peninsula continues to rise, driven by concern that the Kim Jong-Un regime is planning to conduct the country's sixth nuclear test or test-launch another ...

Business

Influence of English is fading, says EU chief Juncker

He said: "Slowly but surely English is losing importance in Europe and also because France has an election". It is the other way around. Barnier, a former French EU commissioner who clashed with the City of London, speaks English but wants the right to negotiate in his native tongue.

Business

Mud in your eye: Always Dreaming wins Kentucky Derby in slop

Calvin Borel was aboard that day. Always Dreaming has one leg down, and the Preakness and the Belmont to go before we'll know. Patch qualified for the Kentucky Derby after finishing second in this year's Louisiana race. Always Dreaming , a commanding victor of the Florida Derby in his previous start, picked up the winner's share of more than $1.2 million, adding to his $650,000 bankroll.

Business

Warren Buffett slams Wells Fargo's handling of massive sales scandal

Even the world's most famous investor, also known as the Oracle of Omaha, has regrets. "It would certainly be unpleasant if we were in the department store business", Munger said. "I had plenty of ways to ask questions, or anything of the sort, and educate myself", Buffett said. At the Berkshire annual meeting this weekend, Buffett laid out a list of blunders that led to the scandal at Wells, where more than 5,000 salespeople set up about 2 million fake accounts for the bank's customers ...

Business

Buffett says AHCA is tax cut for the rich

Munger said the country's room for further economic growth will allow it to see a boom in investments going forward, but did caution there would be "growing pains" along the way. Warren Buffett continues looking for major acquisitions for Berkshire Hathaway. The high cost of US health care puts American businesses at a competitive disadvantage with other countries.

Business

Trump does not think US should copy Australia's health system: White House

Do you feel lucky to have Medicare here in Australia? The mining magnate said Mr Trump was a "fantastic" leader and did wonders for the U.S. economy, News Limited reports. Trump's comments came after the House narrowly passed the GOP's bill aimed at repealing and replacing ObamaCare . The Congressional Budget Office hasn't run the numbers on the latest version of the Republican health care program, but the earlier version of the bill before the latest amendments found that 24 ...

Business

French election twist to May Day in Paris

The claims could deal a blow to her hopes of winning Sunday's election run-off against Emmanuel Macron , the independent candidate who according to opinion polls is about 20 per cent ahead of her rival. "I think with part of the right, we have exactly the same vision on the national identity and independence", Louis Aliot, Front National vice president, told LCI television Tuesday.

Business

Trump Administration Loosens School Lunch Nutrition Standards

Perdue praised Mrs. Obama early in his speech for her work in the fight against childhood obesity . USDA will seek to publish an interim rule as soon as possible to effect the change in milk policy. Kansas Republican Sen. Pat Roberts joined Perdue at the Leesburg school Monday, and said that the new flexibility will help "ensure that schools are able to serve nutritious meals that children will actually eat".

Business

Dems shift financial debate to spotlight Trump's empire

The bill now moves for a full House vote. In applauding the panel's vote, Tim Pawlenty , CEO of the industry group Financial Services Roundtable , said the SEC should assume "primary responsibility" in regulating investment advisors and broker-dealers' services to retail investors, ThinkAdvisor writes .

Business

Valero Energy Corporation Posted losses of -0.39% in the Last Trade

EPS growth for this year is -38.00% and EPS growth for next year is expected to reach at 24.95%. Sure, the percentage is encouraging but better times are ahead as looking out over a next 5-year period, analysts expect the company to see its earnings go up by 11.02%, annually.

Business

The 'Oracle of Omaha' Condemns Republican Health Care Bill At Berkshire Meeting

Buffett told Berkshire Hathaway shareholders Saturday that the bank should have done more to correct the problem once it was discovered. Buffett, a supporter of Democrat Hillary Clinton in last year's USA presidential election, said he believes Berkshire has made no political contributions at the parent company level in his 52 years at the helm, but some subsidiaries in heavily regulated industries "are probably going to have to make some" contributions.

Business

COMAC launches C919 inaugural flight

The flight makes China the fourth jumbo jet producer after the United States, Western Europe and Russian Federation. Commentators are divided on the potential for the plane, but some argue it could pose a major threat to the current Boeing/Airbus duopoly in large commercial aircraft.

Business

GST Will Make Domestic Companies More Competitive: Hasmukh Adhia

Madhya Pradesh became the sixth state in the country on Wednesday to pass the Goods and Services Tax (GST) Bill 2017, which was cleared unanimously during the day-long special session of the State Assembly (an extension of the budget session of the Vidhan Sabha).

Business

Asean assures United States of stand on North Korea

The affirmation, in a US-ASEAN foreign ministerial meeting in Washington , was effectively a call on China, the long-time economic and diplomatic benefactor of North Korea , and other countries to tighten economic screws on North Korea in accordance with the United Nations resolutions.

Business

Macron, Le Pen face off as France elects president

Fears of outside meddling hung over the race after France's election campaign commission said on Saturday that "a significant amount of data" - and some fake information - was leaked on social networks following the hacking attack on Mr Macron.

Business

US Congress tells airlines to do better or face consequences

At the House Transportation Committee hearing, Rep. Bill Shuster, R-Pennsylvania, its chairman, warned the executives to "seize the opportunity" to revamp customer service, "or you're not going to like it". The airline has settled out of court with the passenger, Dr. David Dao . He said this allows airlines to disregard passengers' interests. Under tense questioning by members of the committee, the airlines agreed to simplify and shorten their "contracts of carriage", which are provisions ...

Business

W.H. says Trump-Trudeau phone call 'amicable,' Canada disagrees

But while there's a new administration in the White House, this current situation is just a repeat of an ongoing dispute over the years. Perrin Beatty, president of the Canadian Chamber of Commerce and a minister in the former Conservative government that negotiated NAFTA, said the lumber dispute would "clearly contaminate" the talks on the trade agreement.

Business

Macron favoured in opinion polls as France elects new president

Whether she wins or not, Le Pen has conquered the depressed towns of industrial decline in the north and east, building on the National Front's traditional heartland of the south. "People don't identify with her mindset and her proposals are quite vague", said the 45-year-old who works in construction. French Presidential elections 2017: A nun casts her ballot in the presidential runoff election between Emmanuel Macron and Marine Le Pen, in Marseille, France, Sunday.

Business

USA economic growth slows to 0.7% in first quarter

The U.S. economy grew at an anemic 0.7 percent rate in the first three months of the year, the weakest performance in three years. Economists polled by Reuters had forecast GDP rising at a 1.2% pace last quarter. In announcing the proposed cuts and revisions of the tax code, Treasury Secretary Steven Mnuchin said he believed growth above 3 percent would be achievable.

Business

U.S. imposes additional sanctions against Syrian regime

According to Foreign Minister Jean-Marc Ayrault, France came to this conclusion after comparing samples from a sarin attack in Syria from 2013 that matched. The Organisation for the Prohibition of Chemical Weapons (OPCW), as well as British and Turkish scientists also determined that sarin was used in the attack.

Business

Nigeria Exchanges 82 Chibok Girls for Prisoners

Boko Haram has used kidnapping as a weapon of war, seizing thousands of women and children, and forcibly recruiting young men and boys into their ranks. A government official close to the negotiations told CNN the freed girls are in military custody in Banki, a town in northeast Nigeria. Family members said they were eagerly awaiting the list of names of those who were released.

Business

AK Steel Holding Corporation (AKS) ,The Blackstone Group L.P. (BX)

Macquarie's price objective would suggest a potential downside of 17.96% from the company's previous close. Similar to the other ratios, a lower number might raise red flags about management's ability when compared to other companies in a similar sector.

Business

First large Chinese-made passenger jet takes its maiden flight

The twin-engine airliner's symbolic flight lasted just 80 minutes, with its take off from, and return to, Pudong International Airport being broadcast on China's state-controlled television. For another, it still lacks certifications for worldwide flights, such as from the US Federal Aviation Administration, which it needs if the C919 wants to fly in US skies .

Business

THE HIGHLIGHTS: Warren Buffett talks about investing, technology, risks, and mistakes

Wells Fargo is Buffett's largest investment. It's the largest shareholder in businesses including Wells Fargo, Delta Air Lines and Coca-Cola. "The CEO has to act", Buffett said . He had long disdained the industry, which had gone through many bankruptcies, but said he is confident it will not resort to "suicidally competitive" pricing strategies that could spell doom.

Business

Warren Buffett talks IBM, airlines, Apple at annual meeting

A massive box of peanut brittle, made by longtime Berkshire holding See's sweets, sat between them. The billionaire investor said he hoped that the person who succeeds him will already be "very rich" - because the executive will have already worked for a long time and had success - and wouldn't be motivated by having 10 times or 100 times as much money as they need.

Business

Buffett says hard to predict impact of tax cuts

The health care bill approved by House Republicans this week with the support of President Donald Trump will aid the wealthiest Americans at the expense of everyone else and likely drive up the budget deficit, billionaire Warren Buffett said.


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