Car dealers got a bump despite a tough July for retail
Americans in July continued to splurge on cars — but they certainly weren’t driving them to the mall to go shopping. Retail sales in July were “virtually unchanged” from June, according to figures released by the Commerce Department on Friday after growing 0.8 percent in June. The falloff in spending in July disappointed Wall Street, which was expecting a 0.4 percent jump in sales. Further confounding the Street is that June’s figures were revised upward from their original estimate of 0.6 perc..>> view originalWill stock-market hangover follow record highs?
Wall Street partied like it was 1999 on Thursday. The Dow Jones Industrial Average DJIA, -0.20% S&P 500 i..>> view originalSouth Korean Growth Will Rise to 3 Percent in 2017, IMF Says
South Korea’s economy will expand 2.7 percent this year and 3 percent next year, the International Monetary Fund said in a statement, which also welcomed recent fiscal and monetary stimulus in Asia’s fourth-largest economy.The nation has "considerable fiscal space" to manage challenges to growth such as an aging society and high household debt, the fund’s directors said in a statement after talks. The fund said that social spending could reduce poverty and help consumption, and said that Korea ..>> view originalWhy oil companies must look beyond oil
Salman Ghouri, Oilprice.com 10:04 a.m. EDT August 13, 2016Pipe line transportation in crude oil refinery.(Photo: Thinkstock)Persistently low oil prices have had a devastating effect on the economies of all major oil producers/exporters who are accustomed to a price regime of over $100/b. The lifting of sanctions on Iran and its ability to quickly ramp up to pre-sanction (2012) levels of production and exports has made the market even more liquid and exerted downward pressure on oil ..>> view originalJ.C. Penney gets a Q2 bump
NEW YORK -- After a tough start to the year, J.C. Penney's business enjoyed a bounce in the second quarter, fueled by efforts to bring back appliances and spruce up other sections of the store.The Plano, Texas-based department store chain reported a smaller loss for the second quarter compared to a year earlier as sales improved. CEO Marvin Ellison believes the company can maintain the momentum with a slew of new brands and other enticements coming in the next few months.In addition to its own e..>> view originalFed's Rate Hike Timing is Critical -- Can they Get it Right?
The timing of the Federal Reserve's next rate hike right is critical, since a mistake could hurt the economy, but can policymakers get it right? Valerie Young. Follow. Aug 12, 2016 1:05 PM EDT. Get TheStreet Quant Ratings' exclusive 5-page report for ...>> view originalRuling on Anthem-Cigna Merger Won't Come This Year
WASHINGTON—A federal judge said on Friday she won’t rule on Anthem Inc.’s proposed acquisition of Cigna Corp. until early next year, a setback for Anthem’s efforts to hold the $48 billion health-insurance deal together. The Justice Department sued last month on antitrust grounds to block the merger, as well as a second major health-insurer deal...>> view originalBritain to plug 4.5 billion pound EU funding gap for farms, colleges
LONDON Britain will fill a gap of as much as 4.5 billion pounds ($5.8 billion) in funding for agriculture, universities and its regions that will open up when Britain leaves the European Union, finance minister Philip Hammond said. Scientists, farmers and others who got EU funding were facing uncertainty after Britain voted on June 23 to quit the EU. Hammond reassured them on Saturday that the British government would pick up the tab. The new guarantee over funding comes as Britain faces the l..>> view original
Monday, August 15, 2016
Car dealers got a bump despite a tough July for retail and other top stories.
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