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A Sears department store is seen in New Hyde Park, New YorkSears and its wholly owned subsidiary, Kmart, disclosed their decision on Saturday, saying it was part of a push to focus their online business on the most profitable items. Separately, the Wall Street Journal reported on Saturday that Nordstrom sales of Ivanka Trump's brand had dropped sharply before the retailer discontinued sales this week.
An Ivanka Trump-branded blouse is seen for sale at off-price retailer Winners in TorontoNordstrom's sales of Ivanka Trump's line of clothing and shoes fell by nearly one-third in the past fiscal year, with sharp drops in sales in the weeks before her father Donald Trump was elected president, the Wall Street Journal reported on Saturday. Nordstrom announced this week it had decided to stop carrying Ivanka Trump's apparel, prompting President Trump to take to Twitter to defend her. "My daughter Ivanka has been treated so unfairly by @Nordstrom," he said on Wednesday.
DUBAI: International Monetary Fund chief Christine Lagarde on Sunday voiced optimism for US economic growth under President Donald Trump but warned it could herald trouble for the rest of the world. “From the little we know, and I will insist on the little we know, because this is really work in progress... but from the little we hear, we have reasons to be optimistic about economic growth in the United States,” Lagarde said at the annual World Government Summit in Dubai. Lagarde predicted tax reform and more investment in infrastructure were both likely under Trump, whose Thursday teaser of fresh tax cut proposals pushed Wall Street stocks to new records.
Ivanka Trump-branded blouses and trousers are seen for sale at off-price retailer Winners in TorontoNordstrom's sales of Ivanka Trump's line of clothing and shoes fell by nearly one-third in the past fiscal year, with sharp drops in sales in the weeks before her father Donald Trump was elected president, the Wall Street Journal reported on Saturday. Nordstrom announced this week it had decided to stop carrying Ivanka Trump's apparel, prompting President Trump to take to Twitter to defend her. "My daughter Ivanka has been treated so unfairly by @Nordstrom," he said on Wednesday.
This photo provided by James D. Cox shows Cox, a professor at Duke University School of Law. Cox is an expert on securities law and is a close SEC-watcher. (Courtesy of James D. Cox via AP)WASHINGTON (AP) — President Trump has named Jay Clayton, a Wall Street attorney who worked on mergers and IPOs, to head the Securities and Exchange Commission. Last week Trump ordered a review of the 2010 Dodd-Frank law, which reshaped regulation of the banking industry after the financial crisis. He called the law a "disaster."
A Sears department store is seen in New Hyde Park, New YorkSears and Kmart disclosed their decision on Saturday, even as the Wall Street Journal reported that Nordstrom sales of Ivanka Trump's brand had dropped sharply before the retailer discontinued sales this week.
A Kmart department store is seen in Killeen, Texas(Reuters) - Trump-branded consumer products have suffered new blows, with U.S. retailers Sears Holdings Corp and Kmart Corp discontinuing online sales of 31 Trump Home items, while new details emerged showing sales of Ivanka Trump's brand fell in the weeks before Nordstrom Inc stopped carrying her products. Sears and Kmart disclosed their decision on Saturday, even as the Wall Street Journal reported that Nordstrom sales of Ivanka Trump's brand had dropped sharply before the retailer discontinued sales this week.
A Kmart department store is seen in Killeen, Texas(Reuters) - Trump-branded consumer products have suffered new blows, with U.S. retailers Sears Holdings Corp and Kmart Corp discontinuing online sales of 31 Trump Home items, while new details emerged showing sales of Ivanka Trump's brand fell in the weeks before Nordstrom Inc stopped carrying her products. Sears and its wholly owned subsidiary, Kmart, disclosed their decision on Saturday, saying it was part of a push to focus their online business on the most profitable items. Separately, the Wall Street Journal reported on Saturday that Nordstrom sales of Ivanka Trump's brand had dropped sharply before the retailer discontinued sales this week.
FILE PHOTO: Trader Tuchman gestures as he talks on the phone following the resumption of trading following a several hour long stoppage on the floor of the New York Stock ExchangeIn an ordinary world, a U.S. Federal Reserve meeting, jobs data and a hefty number of earnings reports next week would provide investors with welcome distraction from speculation about the U.S. president's policy plans. In the second week after Donald Trump's inauguration, issues such as his controversial immigration policies will likely keep his voice ringing louder in investors' ears than the words of Fed Chair Janet Yellen. Wall Street has already bet on solid economic data, strong earnings and the pace of Fed interest rate hikes, but investors are still uncertain how to bet on the president.
FILE PHOTO: Trader Tuchman gestures as he talks on the phone following the resumption of trading following a several hour long stoppage on the floor of the New York Stock ExchangeBy Sinead Carew NEW YORK (Reuters) - In an ordinary world, a U.S. Federal Reserve meeting, jobs data and a hefty number of earnings reports next week would provide investors with welcome distraction from speculation about the U.S. president's policy plans. In the second week after Donald Trump's inauguration, issues such as his controversial immigration policies will likely keep his voice ringing louder in investors' ears than the words of Fed Chair Janet Yellen. Wall Street has already bet on solid economic data, strong earnings and the pace of Fed interest rate hikes, but investors are still uncertain how to bet on the president.
The office building of health insurer Anthem is seen in Los Angeles, CaliforniaAnthem Inc shares could rise by 30 percent as the U.S. health insurer is undervalued and has the most room for improvement in profit margins and earnings among its peers, Barron's reported. The company also has the lowest price-to-earnings ratio among its peers including UnitedHealth Group Inc and Aetna , Barron's said, adding that the stock trades at just 13 times the projected 2017 earnings, a discount to its four big rivals. Last week, a U.S. judge blocked Aetna's proposed $34 billion acquisition of smaller peer Humana Inc , raising the stakes for rival Anthem as it battles to close a $54 billion deal to buy Cigna Corp .
The office building of health insurer Anthem is seen in Los Angeles, CaliforniaAnthem Inc shares could rise by 30 percent as the U.S. health insurer is undervalued and has the most room for improvement in profit margins and earnings among its peers, Barron's reported. The company also has the lowest price-to-earnings ratio among its peers including UnitedHealth Group Inc and Aetna , Barron's said, adding that the stock trades at just 13 times the projected 2017 earnings, a discount to its four big rivals. Last week, a U.S. judge blocked Aetna's proposed $34 billion acquisition of smaller peer Humana Inc , raising the stakes for rival Anthem as it battles to close a $54 billion deal to buy Cigna Corp .
abHunter Harrison, CEO of Canadian Pacific Railway Limited addresses shareholders at the company's annual general meeting in Calgary(Reuters) - U.S. railroad operator CSX Corp is discussing a settlement with Hunter Harrison, the outgoing chief executive of Canadian Pacific Railway Ltd , and activist investor Paul Hilal that could make Harrison CSX's CEO, the Wall Street Journal reported. The talks come less than two weeks after Harrison partnered with Hilal's new fund, Mantle Ridge LP. The parties are discussing Mantle Ridge's request for more than three CSX board seats, but CSX is said to be unwilling to hand over that many seats, WSJ reported, citing people familiar with the matter.
Jan 30 (Reuters) - ** Shares in Dubai courier company Aramex rise 1.5 percent to 4.19 dirhams, highest since mid-December ** Company reported 129 percent jump in fourth-quarter net profit to 131.8 million dirhams ($35.9 million); EFG Hermes and SICO Bahrain had forecast 94.0 million dirhams and 77.5 million dirhams respectively ** Chief executive Hussein Hachem said firm is cautious but looks forward to continuing its growth momentum ** Stock faces technical resistance at December peak of 4.31 dirhams ** Dubai stock index edges down 0.1 percent (Reporting by Andrew Torchia)
Visitors use their mobile phones before a ceremony marking the end of trading in 2016 at TSE in TokyoBy Nichola Saminather SINGAPORE (Reuters) - Asian share markets and Wall Street stock futures fell on Monday after immigration curbs introduced by U.S. President Donald Trump heightened concerns about the impact of the new administration's policies on trade and the economy. European markets were also poised for a sluggish start, with financial spreadbetter CMC Markets expecting Germany's DAX to start the day 0.3 percent lower, Britain's FTSE 100 to open down 0.4 percent, and France's CAC 40 to fall 0.5 percent. The U.S. president on Friday put a 120-day hold on allowing refugees into the country, an indefinite ban on refugees from Syria and a 90-day bar on citizens from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen.
Brokers work on the trading floor at IG Index in LondonBy Nichola Saminather SINGAPORE (Reuters) - Asian share markets and Wall Street stock futures fell on Monday after immigration curbs introduced by U.S. President Donald Trump heightened concerns about the impact of the new administration's policies on trade and the economy. European markets were also poised for a sluggish start, with financial spreadbetter CMC Markets expecting Germany's DAX to start the day 0.3 percent lower, Britain's FTSE 100 to open down 0.4 percent, and France's CAC 40 to fall 0.5 percent. The U.S. president on Friday put a 120-day hold on allowing refugees into the country, an indefinite ban on refugees from Syria and a 90-day bar on citizens from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen.
People are seen behind an electronic board showing stock prices after the New Year opening ceremony at the Tokyo Stock Exchange (TSE), held to wish for the success of Japan's stock market, in TokyoBy Nichola Saminather SINGAPORE (Reuters) - Asian share markets and Wall Street stock futures fell on Monday after immigration curbs introduced by U.S. President Donald Trump heightened concerns about the impact of the new administration's policies on trade and the economy. European markets were also poised for a sluggish start, with financial spreadbetter CMC Markets expecting Germany's DAX to start the day 0.3 percent lower, Britain's FTSE 100 to open down 0.4 percent, and France's CAC 40 to fall 0.5 percent. The U.S. president on Friday put a 120-day hold on allowing refugees into the country, an indefinite ban on refugees from Syria and a 90-day bar on citizens from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen.
Samsung was forced to discontinue its flagship Galaxy Note 7 after a chaotic recall that saw replacement phones also catching fireA Samsung probe into the exploding batteries that forced the electronics giant to scrap its Galaxy Note 7 smartphones has found irregularly sized batteries caused overheating, the Wall Street Journal reported Friday. The South Korean conglomerate was forced to discontinue its flagship Note 7 after a chaotic recall that saw replacement phones also catching fire, with the debacle costing the company billions in lost profit and reputational damage. Samsung is set to unveil the results of its investigation Monday, but sources told the WSJ that the findings indicated some of the problematic batteries were irregularly sized, causing overheating, while others had manufacturing problems.
A trader works on the floor of the New York Stock Exchange in Manhattan, New York CityU.S. stocks rose amid gains across sectors on Friday as Donald Trump gets set to become the 45th president of the United States. Trump will be sworn in by U.S. Supreme Court Chief Justice John Roberts in Washington. Investors will focus on Trump's inaugural speech to get more insight into his economic policies.
A trader works on the floor of the New York Stock Exchange (NYSE) in Manhattan, New York City(Reuters) - U.S. stocks trimmed gains at midday on Friday, shortly after Donald Trump started his inaugural speech during his swearing-in as the 45th U.S. president. The Dow Jones Industrial Average was up 50.88 points, or 0.26 percent, at 19,783.28, the S&P 500 was up 5.41 points, or 0.24 percent, at 2,269.1 and the Nasdaq Composite was up 10.56 points, or 0.19 percent, at 5,550.65.
The Nasdaq logo is displayed at the Nasdaq Market site in New YorkBy John McCrank NEW YORK (Reuters) - Nasdaq Inc will ask U.S. regulators under the Trump administration to limit the trading of shares of small companies and illiquid exchange-traded funds to the exchanges on which they are listed, the market operator said in a note to clients. Such a move would make it cheaper for investors to buy and sell small-cap stocks and niche ETFs, spur more trading, and improve market transparency, Tal Cohen, Nasdaq's head of North American equities, said in the Jan. 19 note, reviewed by Reuters. Under current stock market rules, all U.S. stocks and ETFs can be traded on any of the 13 registered U.S. stock exchanges, regardless of where they are listed, a system aimed in part at promoting competition and adding resiliency to the market.
Italian prosecutor Ruggiero leaves the Standard & Poors' offices in MilanBy Vincenzo Damiani TRANI, Italy (Reuters) - An Italian prosecutor has asked for five current and former managers at credit ratings agency Standard & Poor's to be jailed for alleged market manipulation in relation to a sovereign downgrade of the country, a court heard on Friday. Rating agencies have come under fire in Italy for their role during the sovereign debt crisis, when a series of cuts to the country's ratings compounded economic and political problems that sent borrowing costs soaring. Italian prosecutor Michele Ruggiero asked for jail sentences of between two and three years and fines of up to 500,000 euros for the officials, as well as a fine of 4.6 million euros for the rating agency itself.
Lee S. Ainslie III of Maverick Capital speaks at 6th Annual New York Value Investing Congress in New York CityU.S. President Donald Trump's policies could lead to more violent stock market movements, something prominent hedge fund manager Lee Ainslie said could help his portfolio rebound after a lousy 2016. Ainslie's $11 billion Maverick Capital missed out on a rally sparked by Trump's unexpected election in November and ended the year with double digit losses in its biggest funds, underperforming the broader stock market and most hedge funds.
Morgan Stanley Chairman and CEO Gorman speaks during the Institute of International Finance Annual Meeting in WashingtonMorgan Stanley Chief Executive James Gorman's overall pay rose 7 percent in 2016 as the Wall Street bank's stock soared and it edged closer to hitting a key profitability target. Gorman will receive $22.5 million (18 million pounds) in total compensation, up from $21 million in 2015, spokesman Mark Lake said in an email. Gorman received a $5 million stock bonus for his performance in 2016, an 8 percent increase from 2015, according to a filing with the U.S. Securities and Exchange Commission.
A trader watches the Trump inauguration on TV on the floor of the New York Stock Exchange (NYSE) in Manhattan, New York CityU.S. stocks closed higher on Friday in a modest but broad-based advance as Donald Trump was sworn in as U.S. President, marking the first time in more than 50 years that a new commander-in-chief has been welcomed by a rising equity market on his first day in office. In his speech, Trump said U.S. policy will be to buy American and hire American, reiterating what he had said many times during this campaign for the White House.