U.S. stocks ended lower for a second straight session on Wednesday as worries grew about the timing of a Federal Reserve interest rate hike and dollar strength further dampened the outlook for U.S. earnings.
Investors
Rise of Turkish Islamic banks chimes with Erdogan's ideals
Selling fruit from a cart in a working-class neighborhood of Istanbul hasn't made Mehmet rich, but he's adamant his modest savings won't ever see the inside of a bank.
Dreary home market spurs Spanish banks on to foreign climes
Subdued growth prospects at home are pushing mid-sized Spanish banks into foreign acquisitions that would have been impossible a few years ago as they struggled under the weight of bad loans.
Valeant plans to raise offer for Salix close to $170/share: source
Valeant Pharmaceuticals International Inc (VRX.TO) plans to raise its bid for Salix Pharmaceuticals Ltd (SLXP.O) close to $170 per share, a person familiar with matter told Reuters.
Wall St. resumes fall as dollar hits 12-year high
U.S. stocks fell on Friday and the Dow and S&P 500 registered a third week of losses as the dollar resumed its climb, adding to worries about its impact on U.S. multinationals' earnings.
Latest News
Big U.S. banks, including JPMorgan Chase & Co (JPM.N) and Citigroup Inc (C.N), are expected to win Federal Reserve backing on Wednesday to buy back more shares and increase their dividends in the coming year, but the approvals may be as much about the institutions’ financial engineering as any improvement in their health.
The euro dived to its lowest since early 2003 against the dollar on Wednesday, dragging other European currencies with it on the back of the huge differences developing in market interest rates between Europe and the United States.
Asian stocks fell to a two-month low on Wednesday as nervous markets recoiled on worries about an earlier U.S. interest rate hike, while such a prospect helped send the dollar to a 12-year high against the euro.
U.S. stocks dropped on Tuesday, giving the S&P 500 its biggest decline in two months, on increasing views the Federal Reserve may raise rates as soon as June.
Investors pulled $18.5 million from Bill Gross's Janus Global Unconstrained Bond Fund (JUCAX.O) in February, the first such cash withdrawal since the closely watched investor took on the portfolio in October, Morningstar said on Monday.
Billionaire investor William Ackman has purchased a five percent stake in Valeant Pharmaceuticals (VRX.TO) (VRX.N), his hedge fund said on Monday, making him the Canadian drug company's fifth-largest stakeholder.
U.S. stocks bounced back on Monday, helped by merger and acquisitions activity, while Apple shares ended slightly higher following the long-anticipated rollout of its watch.
Yahoo Inc shareholder Starboard Value LP said the company's spinoff of its stake in Alibaba Group Holding Ltd was a "good first step" but it could do more, including a share buyback of up to $4 billion.
Stocks fell and the dollar held firm on Monday in the wake of forecast-beating U.S. jobs numbers that stoked expectations the Federal Reserve could raise interest rates sooner than previously thought.
