Breaking Stock Market and Financial News

Bitcoin falls more than 7 percent as regulation worries mount

Top Reuters News - Tue, 01/16/2018 - 23:03
TOKYO (Reuters) - The price of bitcoin extended its sharp tumble of the past 24 hours, dropping more than seven percent on the Bitstamp exchange on Wednesday, spooked by worries regulators may try to clamp down on the highly-volatile trading in the digital currency.

Former Trump aide Bannon refuses to comply with House subpoena

Top Reuters News - Tue, 01/16/2018 - 22:39
WASHINGTON (Reuters) - President Donald Trump's former chief strategist Steve Bannon declined on Tuesday to comply with a subpoena ordering him to answer questions from a U.S. House intelligence panel about his time at the White House as part of its investigation into allegations of Russian interference in the U.S. election.

House Republicans mull funding extension; 'Dreamer' deal not set

Top Reuters News - Tue, 01/16/2018 - 21:39
WASHINGTON (Reuters) - House Republicans considered on Tuesday a stopgap bill to fund the U.S. government through Feb. 16 to avert a shutdown, but the measure would not include Democrats' demands for protections for young people brought to the United States illegally as children.

Ex-U.S. Navy officers face negligent homicide charges over ship collisions

Top Reuters News - Tue, 01/16/2018 - 21:24
WASHINGTON (Reuters) - The commanding officers of two U.S. Navy destroyers involved in deadly collisions last year in the Pacific Ocean face courts-martial and military criminal charges including negligent homicide, the U.S. Navy said in a statement on Tuesday.

Asian shares dip as commodities ease, bitcoin licks wounds

Top Reuters News - Tue, 01/16/2018 - 20:14
TOKYO (Reuters) - Asian stocks stepped back from a record high on Wednesday as the region's resource shares were dented by falling oil and commodity prices while digital currencies tumbled on worries about tighter regulations.

Ex-CIA officer arrested, accused of being mole for China

MarketWatch Market Pulse - Tue, 01/16/2018 - 19:18

A former Central Intelligence Agency officer has been arrested on suspicion of betraying the agency's informants in China, the New York Times reported late Tuesday. Jerry Chun Shing Lee, 53, was at the center of a mole hunt that began around 2012, the Times said, after more than a dozen informants in China were killed and the CIA's spying operation in China was taken apart. Lee, who left the CIA in 2007 and had been living in Hong Kong, was arrested at JFK Airport and charged in northern Virginia federal court. Prosecutors said Lee had written down the real names and phone numbers of CIA informants and undercover agents in China. The loss of the spy network in China was seen as one of the biggest CIA blunders in recent years.

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Trump is fit for duty, but should hit the gym: White House doctor

Top Reuters News - Tue, 01/16/2018 - 19:13
WASHINGTON (Reuters) - U.S. President Donald Trump passed a test for signs of dementia and is in overall excellent health, but needs to shed weight by cutting calories, fats and carbohydrates and starting a daily exercise routine, the White House physician said on Tuesday.

U.S. Navy commanders face negligent homicide charges in fatal ship collisions: report

MarketWatch Market Pulse - Tue, 01/16/2018 - 19:00

The commanders of two U.S. Navy ships involved in fatal collisions last year will face negligent homicide charges, according to report late Tuesday. Citing a Navy spokesman, the Associated Press said the charges will be presented at an Article 32 hearing, which will determine if the officers should face court-martial. The charges involve incidents involving the USS Fitzgerald, in which seven sailors were killed after it hit a commercial ship off Japan last June, and the USS John S. McCain, in which 10 sailors died after the ship hit an oil tanker off Singapore in August. In November, a report found both incidents were preventable, and cited a number of failures by the respective crews.

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Second U.S. winter storm forces hundreds of flight cancellations

Top Reuters News - Tue, 01/16/2018 - 18:51
NEW YORK (Reuters) - A second winter storm in as many weeks is causing hundreds of flight cancellations across the United States, airlines reported on Tuesday, potentially dealing a further blow to carriers' first quarter outlooks.

21 states sue to keep net neutrality as Senate Democrats reach 50 votes

Top Reuters News - Tue, 01/16/2018 - 18:17
(Reuters) - A group of 21 U.S. state attorneys general filed suit to challenge the Federal Communications Commission's decision to do away with net neutrality on Tuesday while Democrats said they needed just one more vote in the Senate to repeal the FCC ruling.

Bitcoin falls 25 percent to $10,200 on Bitstamp exchange

Top Reuters News - Tue, 01/16/2018 - 17:50
SYDNEY (Reuters) - Bitcoin had lost a quarter of its value in early Asian trading on Wednesday as fears grew of a regulatory crackdown after reports that South Korea's finance minister said banning trading in cryptocurrencies was still an option.

Exelixis, Ipsen report positive cancer-study results

MarketWatch Market Pulse - Tue, 01/16/2018 - 17:33

Exelixis Inc. and Ipsen said Tuesday that a cancer drug achieved its target in a late-stage study and will be submitted to the Food and Drug Administration before the end of the quarter. The companies said that its cabozantinib drug helped patients with advanced hepatocellular carcinoma survive a median 2.2 months longer than patients who received placebos in a phase 3 trial. "Given the worldwide prevalence of advanced hepatocellular carcinoma, there is a continued urgency to bring new treatment options to this patient population," Exelixis Chief Medical Officer Gisela Schwab said in Tuesday's announcement. "We look forward to submitting our supplemental New Drug Application to the FDA for cabozantinib in the first quarter of 2018." The companies plan to present the results at a symposium in San Francisco later this week, and will hold a webcast meant for investors Friday evening. Exelixis shares were halted ahead of the announcement, and gained about 2% in after-hours action after they began trading again at 5:30 p.m. Eastern time.

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Calpers board elects first female president, Priya Mathur

MarketWatch Market Pulse - Tue, 01/16/2018 - 17:15

California Public Employees' Retirement System, or Calpers, elected Priya Mathur as board president, the first woman to hold the elected position, the agency said late Tuesday. Mathur joined the board of the $358 billion fund in 2002 and has represented public employees, serving on four committees. In addition to her work at Calpers, which is the largest defined public-benefit pension in the U.S., Mathur is principle financial analyst for the Bay Area Rapid Transit District. Calpers also elected Rob Feckner as vice president; Feckner has served as the board president in the past.

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Senate Democrats close to majority in drive to restore net neutrality

Top Reuters News - Tue, 01/16/2018 - 17:02
(Reuters) - U.S. Senate Democrats said on Tuesday they had the backing of 50 members of the 100-person chamber to overturn the U.S. Federal Communications Commission’s decision to reverse the Obama administration's net neutrality rules, leaving them just one vote short of a majority.

Boeing, Adient form JV to build airplane seats

MarketWatch Market Pulse - Tue, 01/16/2018 - 17:01

Boeing Co. and Adient Plc said Tuesday they formed a joint venture, Adient Aerospace, to develop, manufacture, and sell airplane seats. "Seats have been a persistent challenge for our customers, the industry and Boeing, and we are taking action to help address constraints in the market," Kevin Schemm, a vice president at Boeing, said in a statement. The seats will be available for new planes as well as retrofit configurations, the companies said. Adient is primarily a maker of seating for the auto industry. The new joint venture headquarters and plant will be located near Frankfurt, Germany. Adient is the majority stakeholder, with 50.01% share, with Boeing the 49.99% partner. Shares of Boeing rose 0.1% in late trading after ending the regular session down 0.3%; Adient shares fell 2.7% in after hours after ending the regular trading day down 0.6%.

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Ex-CIA officer arrested for retaining classified information

Top Reuters News - Tue, 01/16/2018 - 16:59
WASHINGTON (Reuters) - A former Central Intelligence Agency officer was arrested at an U.S. airport on Monday night in connection with charges that he illegally retained highly classified information, the U.S. Justice Department said Tuesday.

White House doctor says Trump in 'excellent' overall health

Top Reuters News - Tue, 01/16/2018 - 16:57
WASHINGTON (Reuters) - U.S. President Donald Trump had a normal score on a cognitive exam and is in excellent health, although he could benefit from a lower-fat diet and more exercise, the White House physician said on Tuesday.

California siblings being treated after 'horrific' ordeal

Top Reuters News - Tue, 01/16/2018 - 16:56
PERRIS, Calif. (Reuters) - The 13 California siblings kept in "horrific" conditions by their parents, including some who were shackled to furniture, others who were starved, were being treated after an ordeal that could leave them scarred for years, authorities said on Tuesday.

Celgene in talks to buy Juno Therapeutics: report

MarketWatch Market Pulse - Tue, 01/16/2018 - 16:51

Celgene Corp. is in talks to buy Juno Therapeutics Inc. , according to a report on The Wall Street Journal Tuesday that cited unnamed sources. Juno is a biotech company developing cancer treatments. Juno stock soared more than 30% in late trading Tuesday and ended the regular trading day down 6.5%. Celgene shares rose 1% and closed the regular session down 1.1%. Celgene earlier this month released preliminary fourth-quarter and full-year 2017 results and provided a downbeat outlook for 2018.

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U.S.-led meeting urges North Korea pressure despite North-South detente

Top Reuters News - Tue, 01/16/2018 - 16:50
VANCOUVER (Reuters) - The world needs to step up pressure on North Korea to force it to abandon its nuclear weapons program and should not be fooled by a charm offensive in engaging South Korea, participants at a 20-nation meeting on North Korea said on Tuesday.

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