Move over, tech. Wall Street has a new favorite sector, according to a Bank of America Merrill Lynch survey of fund managers: consumer discretionary. The sector overtook tech as the most crowded last month, the survey shows. Funds increased their relative weight (compared to the S&P 500) in consumer discretionary […]
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New technologies will fuel surging US oil production, says Emerson CEO
A funny thing happened to the oil and gas industry as it lay flat on the mat after the collapse of oil prices about four years ago. It figured out how to get up and start investing for the future again. While scores of exploration and production companies went bankrupt […]
As US oil hits record output, energy investors act as if the next bust is already a risk
By many measures, the U.S. oil industry should be having a great year. It is emboldened by higher crude prices, a White House favoring deregulation, and improving energy demand. But the industry has a different sort of challenge — to not drill too much. With the relative boom in oil […]
Trump and Biden head to PA: What to watch in the fight for Congress this week
Both Democrats and Republicans will break out the cavalry this week in a special House election that could have big implications for which party controls Congress after November’s midterm elections. Former Vice President Joe Biden heads to Pennsylvania’s 18th District to campaign on the Democratic side. President Donald Trump will […]
Trump signals he may drop tariffs if a ‘fair’ NAFTA agreement is signed
President Donald Trump signaled on Monday that his hastily announced tariffs on steel and aluminum may not be implemented, at least for Canada and Mexico, if a “fair” NAFTA agreement is negotiated. “Tariffs on steel and aluminum will only come off if new & fair NAFTA agreement is signed,” the […]
Activist investor Starboard names two additional nominees to Rubbermaid parent Newell’s board
Hedge fund Starboard Value said on Monday it nominated two additional directors to the board of Newell Brands, taking the total number of nominees to 12 as the activist investor seeks to replace the entire board and chief executive. The nominations come two weeks after Newell named two new independent […]
Russia reportedly claims the US is trying to influence its upcoming presidential vote
Russia claims to have evidence the U.S. has attempted to interfere in Moscow’s forthcoming presidential vote, the RIA news agency quoted Deputy Foreign Minister Sergei Ryabkov as saying on Monday. The Interfax news agency cited Ryabkov as saying the U.S. was looking to create chaos in Russia. He also added […]
As Congress moves to drop tariffs on everything from toasters to pet toys, some US firms cry foul
Michael Korchmar was hiring. His family-owned travel-goods company was planning to make a new product, an insulated food bag, and he had put out help-wanted notices for up to 30 workers to run the sewing machines in his small factory on Florida’s Gulf Coast. Those plans are now on hold. […]
Italy is headed for a hung parliament with a euroskeptic, right-wing party seeing strong gains
Italy is headed towards a hung parliament Monday, following an election that saw voters shun mainstream politics and opt for more anti-establishment parties. As the official vote count continued on Monday morning, after the ballot on Sunday, it showed the Five Star Movement (M5S) would be the largest single party, […]
Apple reportedly launching a cheaper 13-inch version of the MacBook Air this year
Apple could launch a cheaper MacBook Air this year, according to analyst Ming-Chi Kuo, who is known for his accurate insights into the technology firm’s future products. The analyst, from KGI Securities, said that a new 13-inch version of Apple’s thin laptop could be released in the second quarter of […]