Markets


Mylan CEO defends EpiPen cost to angry lawmakers
- September 22, 2016

Mylan CEO Heather Bresch holds up an EpiPen while testifying on Capitol Hill in Washington . Yet that price has risen by more than 500 percent since Mylan acquired the device in 2007, irking House investigators who said sharply rising drug costs are breaking the budgets of families, schools and taxpayer-funded programs alike, even as Mrs. (more...)
Clinton Foundation to Lay Off Dozens By End of Year Clinton Foundation to Lay Off Dozens By End of Year
- September 22, 2016

While Bill Clinton prepares for what is expected to be an impassioned defense of their philanthropic efforts, which have been at the center of accusations that the Clintons used their foundation to sell access while Hillary Clinton led the State Department, Politico reports that the Clinton Global Initiative is preparing to lay off dozens of staffers. (more...)
Peppered with questions, Wells Fargo CEO seemed taken aback
- September 22, 2016

Stumpf said he was "deeply sorry" that the bank failed to meet its responsibility to customers and didn't act sooner to stem "this unacceptable activity". The Consumer Financial Protection Bureau, citing an analysis by Wells Fargo , said that two million unwarranted accounts could have been created. The average big bank has customers with three accounts, while Wells Fargo's goal is eight. (more...)
Fed Stands Pat, but Says Case for Rate Increase Has Strengthened
- September 22, 2016

That's why the last meeting of the year in December is seen as the most likely time for the next rate hike as long as the economy keeps improving in line with the Fed's expectations. Currency traders are losing faith in the prospects of continued monetary policy divergence with central banks in Europe and Japan, questioning the resolve of Fed policy makers to raise interest rates after months of inaction. (more...)
As Trump Rises, Clinton Struggles With Traditional Playbook
- September 22, 2016

Hillary Clinton still has a 21-point lead over Donald Trump in NY, last month she had a 25-point lead. The assessment puts Clinton at 191 electoral votes of the 270 needed to win, thanks to reliably Democratic states. In Florida, meanwhile, Clinton led Trump by 5 points, according to a Monmouth University poll also released Tuesday. Clinton leads by a point (39-38) in the suburbs, while she has a comparatively cushy six-point lead (42-36) upstate. (more...)
Asian shares mixed as Bank of Japan, Fed mull policy options
- September 22, 2016

The Dow Jones industrial average closed up 163.74 points, or 0.9 per cent, to 18,293.7, the S&P 500 gained to finish 23.36 points, or 1.09 per cent higher, to 2,163.12, while the Nasdaq Composite ended up 53.83 points, or 1.03 per cent, to close at 5,295.18, a record high. (more...)
Dollar weakens after Fed leaves rates unchanged
- September 22, 2016

The committee added that risks to the outlook were "roughly balanced" - a further signal that a move could come by the end of 2016. "It's running a little bit higher than it was over the last two years by a number of important measures.I do expect, we expect, the unemployment rate to decline further, we expect labor market conditons to continue to improve, and my hope and expectation is that we will see some further pickup in wage growth and that it will be broadly beneficial to American ... (more...)
Economic growth forecast raised as Brexit vote response hailed Economic growth forecast raised as Brexit vote response hailed
- September 22, 2016

The OECD also revised its 2016 GDP forecast, now projecting growth of 1.8% this year - up from its previous forecast of 1.7% growth. USA growth was heavily revised down after the country slogged through a disappointing first half of the year. (more...)
Weak growth plagues global economy, OECD Weak growth plagues global economy, OECD
- September 22, 2016

The OECD projects that the global economy will grow by 2.9 percent this year and 3.2 percent in 2017, which is well below long-run averages of around 3¾ percent. Low growth projections naturally weigh on analysts and internationally minded companies, who will be less ambitious with their trade goals as a result. (more...)
Financial Technologies shares slip over 6% intraday on Jignesh Shah's arrest Financial Technologies shares slip over 6% intraday on Jignesh Shah's arrest
- September 22, 2016

The CBI Tuesday evening arrested Shah , promoter of 63moons (formerly FTIL), for allegedly conniving with certain Sebi officials to fraudulently obtain renewal of recognition of erstwhile MCX-SX, since renamed MSEI, without conforming to stock exchange shareholding norms. (more...)
Mylan CEO defends EpiPen prices
- September 22, 2016

The majority of Ms. Bresch's testimony will focus on Mylan's efforts to increase access to EpiPens. "The petition suggests such conduct, if proven, could subject Mylan to a potential Medicaid fraud action under state law", Morrisey said in a statement . (more...)
IOS 10: Best apps and stickers for Apple's new iMessage IOS 10: Best apps and stickers for Apple's new iMessage
- September 22, 2016

The news comes just roughly a week after Apple unveiled the iOS 10 for millions of users. Those same changes have been brought to a range of other apps such as Uber. The easiest way to do this is by deleting any old apps that you have lingering on your desktops, which you aren't using any more. With iTranslate, you simply choose your preferred language (from Afrikaans to Zulu, with dozens of options in between), type your message as usual, then tap the green arrow. (more...)
Fed keeps key rate unchanged but hints of coming hike Fed keeps key rate unchanged but hints of coming hike
- September 22, 2016

That said, with three officials dissenting, it appears that odds are starting to tilt in favour of a rate hike . Yellen said she expected one rate increase this year if the job market continued to improve and major new risks did not arise. (more...)
Bank Of Japan Announced Policy Changes
- September 22, 2016

The Fed said USA economic activity had picked up and job gains were "solid" in recent months. Unemployment and part-time U6 underemployment rates have come down. It might pull back that assessment given that the jobless rate has remained 4.9 percent for three straight months. There was still a pledge to expand monetary policy until inflation is stable above the 2% target. (more...)
Corn Harvest in Illinois Slightly Behind Average
- September 22, 2016

Soybean harvest is finally underway. Sixty-one percent of the dry edible bean crop had been harvested, a week ahead of average, but 2 days behind a year ago. Soybean condition was rated 85 percent good to excellent. Fifty percent of soybeans were dropping leaves, five days ahead of previous year. Forty-nine percent of potatoes were harvested statewide. (more...)
Yaya edges closer to City exit door
- September 22, 2016

Guardiola said on Tuesday he will not pick Toure again unless his outspoken representative, Dimitri Seluk, apologises for his recent public remarks. "He must apologise to his teammates". But what does he expect me to say when he does this to Yaya? When asked for the reason, Guardiola, said: "It was so hard for me to put him out of the Champions League , so hard". (more...)
Airbus says US grants license for planes in Iran deal
- September 22, 2016

Airbus said Wednesday it had obtained a first licence from the United States to supply passenger jets to Iran, a key step towards fulfilling a multi-billion-dollar deal. Airbus' announcements will be closely watched by Boeing , which has its own deal on the line. If Iran begins using planes from either Airbus or Boeing for anything other than civilian aviation, that portion of the nuclear deal allowing the aviation sales can be revoked. (more...)
Vincent Kompany in line for Manchester City return
- September 22, 2016

It's been a major blow for City to lose their senior defender for such a long time and certainly contributed to their poor fourth-placed finish last season when they conceded 41 goals - more than in their previous five seasons. If Guardiola makes a whole host of changes and Manchester City still romp to victory, the whole league should be anxious. This all-Premier League tie sees Swansea enter as the 11/2 outsiders with bet365, while an away win for Pep Guardiola's visitors is backed at ... (more...)
TSX jumps 1.3 percent as Fed holds steady, gold miners surge TSX jumps 1.3 percent as Fed holds steady, gold miners surge
- September 22, 2016

Louis. Traders have priced in a mere 18 percent chance for a rate hike by Wednesday, according to The CME Group's FedWatch tool. Uncertainty surrounding the Bank of Japan is higher as investors have little idea of what tools it could use to achieve its inflation target. (more...)
Bomb Suspect Ahmad Rahami's Wife Returning to US With Escort
- September 22, 2016

Federal prosecutors in NY noted that while they filed charges against Rahami on Tuesday, he remains in the custody of state officials in New Jersey, who initially arrested him after Monday's gunfight. He had also visited Afghanistan and Pakistan in recent years, but investigators found no "ties to terrorism". Federal prosecutors portrayed Rahami, who came to the United States at age 7 and became a naturalized citizen, as embracing militant Islamic views, begging for martyrdom and expressing ... (more...)

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