Business

Small-cap S&P 600 index confirms bear market

NEW YORK (Reuters) – As U.S. stocks have been rocked by trade tensions and monetary policy worries, shares of small-cap companies, by one measure, have now confirmed that they are in their first bear market in three years. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2018. REUTERS/Brendan McDermid On ...

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China to halt added tariffs on U.S.-made cars in easing of trade tensions

BEIJING/WASHINGTON (Reuters) – China will temporarily suspend additional 25 percent tariffs on U.S.-made vehicles and auto parts starting Jan. 1, 2019, the finance ministry said on Friday, following a truce in a trade war between the world’s two largest economies. The Ministry of Finance, in a statement on its website, also said it hopes China and the United States can ...

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Wall St. tumbles on global growth worries, J&J decline

(Reuters) – Wall Street’s three major indexes tumbled on Friday and the Dow confirmed a correction as weak data from China and Europe stoked fears of a global economic slowdown, while Johnson & Johnson shares were the biggest drag after Reuters reported the company knew for decades that its Baby Powder contained asbestos. The S&P 600 .SPCY small cap index ...

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Anti-harassment groups share $20 million CBS handout after Moonves exit

LOS ANGELES (Reuters) – CBS Corp on Friday named the Time’s Up anti-sexual harassment group and 17 other organizations that will share a $20 million donation stemming from the exit of its chief executive Les Moonves following allegations of sexual misconduct. FILE PHOTO: CBS chairman Moonves arrives for “The Late Show with Stephen Colbert” at CBS chairman Les Moonves arrives ...

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California regulator opens case against PG&E for falsifying pipeline safety records

PG&E works on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage (Reuters) – The California Public Utilities Commission has opened a proceeding to consider penalties against Pacific Gas and Electric Company, ordering immediate action against the utility for falsifying safety documents for natural gas pipelines, the regulator said in ...

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Exclusive: T-Mobile, Sprint see Huawei shun clinching U.S. deal – sources

WASHINGTON/NEW YORK (Reuters) – T-Mobile US Inc and Sprint Corp believe their foreign owners’ offer to stop using Huawei Technologies equipment will help with the United States clearing their $26 billion merger deal, sources said, underscoring the lengths to which Washington has gone to shut out the Chinese company. Like all major U.S. wireless carriers, T-Mobile and Sprint do not ...

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CVS defends settlement that allowed Aetna merger as judge assesses

WASHINGTON (Reuters) – CVS Health Corp (CVS.N) defended on Friday an agreement with the U.S. Justice Department which allowed it to purchase health insurer Aetna for $69 billion, a settlement that a federal judge is still assessing. FILE PHOTO: Shoppers walk outside a CVS store and pharmacy in Medford, Massachusetts, U.S. December 4, 2017. REUTERS/Brian Snyder/File Photo The Justice Department ...

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U.S. sets new March 2 date for China tariff increases amid talks

FILE PHOTO: Workers paint the ground at a port in Qingdao, Shandong province, China April 9, 2018. REUTERS/Stringer/File Photo WASHINGTON (Reuters) – The U.S. Trade Representative’s office on Friday officially changed the scheduled date of a tariff rate increase on $200 billion worth of Chinese goods to 12:01 a.m. EST (0501 GMT) on March 2, 2019 as the United States ...

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