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U.S. dollar posts 2016 gain on Trump victory, Fed forecasts

The dollar index , which measures the greenback against a basket of six major rivals, gained about 3.7 percent for the year. The index rose about 7.1 percent during the fourth quarter, more than half that gain coming since the Nov. 8 U.S. presidential election on expectations that U.S. President-elect Donald Trump's plan to boost fiscal stimulus would benefit the currency. A faster projected pace of rate hikes from the Federal Reserve next year also contributed.

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U.S. dollar posts 2016 gain on Trump victory, Fed forecasts

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U.S. housing starts tumble from nine-year high; permits suggest strength

U.S. homebuilding fell more than expected in November, tumbling from a nine-year high as construction activity declined broadly, the latest sign of slower economic growth in the fourth quarter. Groundbreaking on new housing projects dropped 18.7 percent to a seasonally adjusted annual rate of 1.09 million units, the Commerce Department said. Housing starts data are choppy month-to-month, with much

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U.S. housing starts tumble from nine-year high; permits suggest strength

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U.S. factory, confidence data brighten economic outlook

New orders for U.S. manufactured capital goods rebounded in October, driven by rising demand for machinery and a range of other equipment, the latest indication of an acceleration in economic growth early in the fourth quarter. The brightening economic outlook received a further boost from other data on Wednesday showing a jump in consumer sentiment this month in the wake of the election of Donald Trump as the next president. While the number of people filing for unemployment benefits…

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U.S. factory, confidence data brighten economic outlook

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Wells Fargo sales scandal extends to brokerage unit: U.S. senators

Wells Fargo & Co fired hundreds of brokerage employees for improper sales practices, three U.S. senators said on Thursday, widening the scope of a scandal which the fourth-largest U.S. bank has so far characterized as a retail banking problem. In a letter to Wells Fargo Chief Executive Tim Sloan, Senators Elizabeth Warren, Ron Wyden and Robert Menendez questioned the bank's disclosures about those employees' dismissals in required regulatory filings.

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Wells Fargo sales scandal extends to brokerage unit: U.S. senators

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U.S. business spending tepid; labor market firming

By Lucia Mutikani WASHINGTON (Reuters) – New orders for U.S. manufactured capital goods unexpectedly fell in September amid weak demand for computers and electronic products, which could temper expectations for an…

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U.S. business spending tepid; labor market firming

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Apollo Global’s ADT deal shows appetite for M&As still strong

(Reuters) – Private equity firm Apollo Global Management LLC will buy ADT Corp in the biggest leveraged buyout so far this year to create a business with nearly a third of North America's electronic security products market.

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Apollo Global’s ADT deal shows appetite for M&As still strong

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Hedge funds place bets on Morgan Stanley; some exit Valeant

NEW YORK/BOSTON (Reuters) – Top U.S. hedge fund management firms, including Dan Loeb's Third Point LLC, took new positions in Morgan Stanley during the fourth quarter, ahead of the bank's cost-cutting measures and bond-management reshuffling.

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Hedge funds place bets on Morgan Stanley; some exit Valeant

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U.S. labor market on solid ground as jobless rate hits eight-year low

U.S. employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but rising wages and an unemployment rate at an eight-year low suggested the labor market recovery remains firm. Non-farm payrolls increased by 151,000 jobs and the unemployment rate slipped one-tenth of a

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U.S. labor market on solid ground as jobless rate hits eight-year low

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AmEx to cut $1 billion in costs by end of 2017

(Reuters) – Credit card issuer American Express Co said it would cut $1 billion in costs by the end of 2017 as it responds to intensifying competition in the payments industry. AmEx's shares fell 4.1 percent to $60.05 in extended trading on Thursday, after the company reported its fourth straight decline in

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AmEx to cut $1 billion in costs by end of 2017

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Boeing to cut 747-8 production in half as demand slows

Boeing Co said on Thursday it will cut production of its 747-8 jumbo jet in half and take a $569 million charge in the fourth quarter as it faces dwindling sales. “The air cargo market recovery that began in late 2013 has stalled in recent months and slowed demand for the 747-8 freighter,” Ray Conner, chief executive of Boeing Commercial Airplanes, said in a statement. Boeing has disclosed in its regulatory filings for months that the costs of making the…

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Boeing to cut 747-8 production in half as demand slows

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