Ferrari shares hit an all-time high on Friday after better-than-expected earnings led to several positive analyst ratings for the luxury automaker. The company’s stock price rose more than 7 percent to a record high of 114.70 euros ($137.05) on the Borsa Italiana stock exchange in Milan on Friday afternoon. The stock led the pan-European Stoxx […]
Read moreWith summer just on the horizon, about three-and-a-half million high school seniors will soon graduate. For those graduates who plan on finding a part-time or full-time job, the April jobs report shows that numerous opportunities await them, particularly in the service sector. Among the 164,000 net new jobs added, an impressive 119,000—nearly three quarters—were service-related. […]
Read moreEncouraged by a booming demand for construction equipment, Mike Haberman was planning in early February to hire at least 30 more workers for the manufacturing facility of his Gradall Industries in Ohio. That plan now is shelved, Haberman said, because the cost of steel used in Gradall’s telescopic excavators and vacuum trucks shot up by […]
Read moreThe unemployment rate fell to 3.9 percent in April, an 18-year low, even as nonfarm payrolls rose by just 164,000, according to a report Friday from the Bureau of Labor Statistics. Economists surveyed by Reuters had expected payroll growth of 192,000 and the jobless rate to drop by one-tenth of a percent to 4.0 percent. […]
Read moreThe country’s official jobs number report released by the Bureau of Labor Statistics charts the unemployment rate—and has been the cause for cheer the last few cycles. While this rosy economic outlook spells good news for many Americans, a growing threat looms. As e-commerce increases from the likes of Amazon and other online retailers, greater […]
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Paul Singer’s Elliott Management wins bitter battle for control of Telecom Italia
Telecom Italia’s shareholders have voted to form a new board, ending a bitter battle for control between activist investor Elliott Management and French conglomerate Vivendi. Elliott Management, an activist fund run by its billionaire founder Paul Singer, won the vote securing two-thirds of seats on Telecom Italia’s board. Elliott had accused Vivendi of failing shareholder […]
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Puppy stolen by Amazon delivery driver returned to owner after he emailed Jeff Bezos
A puppy that was stolen by a driver delivering Amazon parcels in England has been reunited with its owner. Businessman Richard Guttfield, 51, said his black miniature schnauzer Wilma had gone missing after a driver dropped off a package of dog food. Guttfield said it was only after he emailed Amazon’s CEO and founder Jeff […]
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The Iran nuclear deal is doomed — and it could ‘propel’ oil prices skywards, analysts say
The Iran nuclear deal is on the brink of collapse, yet oil traders continue to underestimate the impact of a fast-approaching supply shock. A dramatic uptick in oil prices in recent weeks has partly been driven by mounting expectations that Donald Trump will soon pull out of the 2015 accord. The U.S. president must decide […]
Read moreBritish Airways-owner IAG said it had been unable to reach agreement on a possible takeover offer for Norwegian after holding talks with the struggling airline’s board, putting a dampener for now on M&A in the European airline market. “IAG is currently considering its options in relation to Norwegian,” IAG said in slides for a presentation […]
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Nobel literature prize postponed for 2018 following sexual misconduct scandal
No Nobel Prize for literature will be given this year, following a scandal over sexual misconduct allegations that has seen a string of board members resign from the board of the Swedish Academy that awards it, the Nobel Foundation said on Friday. The foundation said in a statement the intention was to award the 2018 […]
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