Asian stocks follow Wall Street lower after uneven US data
Asian stocks follow Wall Street lower after uneven US data Kelvin Chan, Ap Business Writer May 4, 2016 Updated: May 4, 2016 11:27pm Trader Timothy Nick, left, and specialist Paul Cosentino work on the floor of the New York Stock Exchange, Wednesday, May 4, 2016. Stocks are opening lower on Wall Street as investors were discouraged by signs of weakness in the U.S. job market and some weak co..>> view originalConsumer Agency Moves to Assert Bank Customers' Right to Sue
Richard Cordray, director of the Consumer Financial Protection Bureau, pointed out what a major change his agency was poised to bring about. “Many banks and financial companies avoid accountability by putting arbitration clauses in their contracts that block groups of their customers from suing them,” he said in a statement.The rule would apply only to the consumer financial companies that the agency regulates. It would not apply to arbitration clauses tucked into contracts for cellphone servic..>> view originalSempra Doubles Cost Estimate for Biggest U.S. Gas Leak
Sempra Energy more than doubled its estimate for the cost of a historic natural gas leak to $665 million and announced first-quarter earnings that missed expectations.Earnings excluding some items fell to $370 million or $1.47 a share, from $428 million or $1.71 a share a year earlier, according to a statement Wednesday. That missed the $1.66 a share average of 11 analyst estimates compiled by Bloomberg. Sempra has been unable to seek new rates for its utilities as investigations into the leak ..>> view originalKatzenberg, Comcast execs seek to reassure DreamWorks Animation staff
Comcast Corp. executives sought to calm nerves among employees at DreamWorks Animation's headquarters Wednesday as the cable giant prepares to acquire the Glendale-based animation studio. The deal's announcement last week raised questions over the future of the animation studio founded and led by Jeffrey Katzenberg, who will step down as chief executive if the transaction closes. Comcast's Universal Pictures already has a successful animation unit in "Despicable Me" producer Illumination Studi..>> view originalBaidu should have even higher standards than Google, because it's all China's citizens have
Baidu, one of China’s most successful technology companies, is facing a crisis. The Nasdaq-listed company’s shares have dropped 10% in the first two days of this week after Chinese regulators launched an investigation into the search engine’s role in a student’s death. Hundreds of thousands of China’s internet users are threatening a boycott of all Baidu products, from search to music streaming, which could seriously hurt the company’s bottom line. The reason? Wei Zexi, a 21-year-old college st..>> view originalHealthy job gains expected despite weak report
The Labor Department is due to release its April jobs report on Friday.(Photo: Jeri Clausing, AP)Several top analysts expect the government to report strong job growth on Friday despite a disappointing private-sector survey, a development that would reinforce the belief that the economy is poised to pick up after two weak quarters.Payroll processor ADP said Wednesday that businesses added 156,000 jobs in April, well below the 195,000 economists expected and a possible red flag that the sluggish ..>> view originalUS Productivity Fell 1%, Signaling Tepid Growth -- Update
Shutterstock photo By Harriet Torry WASHINGTON -- U.S. worker productivity fell in the first quarter, but wage growth advanced as a streak of solid job gains continued. The productivity of nonfarm workers, measured as the output of goods and services for each hour worked, decreased at a 1.0% seasonally adjusted annual rate in the first quarter, the Labor Department said Wednesday. From a year earlier, productivity was up 0.6%. Wage growth showed some progress. Hourly compensatio..>> view originalMTA: 1 ½-year or 3-year shutdown for L train repairs
By Associated Press May 5 at 1:09 AM NEW YORK — The lone subway tunnel connecting some of Brooklyn’s hippest, youngest neighborhoods to New York City’s commercial heart in Manhattan will either be closed entirely for 18 months, or see extremely limited service for three years, under two possible plans for repairing damage caused by Superstorm Sandy. The Metropolitan Transportation Authority, which operates the city’s subway system, is trying to decide which of the two potentially painful sce..>> view originalGroups sue EPA for failure to update oil, gas industry waste regs
Three environmental organizations filed a lawsuit Wednesday against the Environmental Protection Agency in a push for updated oil and gas industry waste regulations. They say outdated rules have led to an increase in earthquakes, groundwater contamination and other health and safety issues. Adam Kron, senior attorney at the Environmental Integrity Project, said the EPA has failed to protect the environment and the public because laws surrounding oil and gas industry waste haven’t been updated f..>> view originalB. Riley buying United Online for $11/share ($170M)
United Online Agrees to be Acquired by B. Riley for $11 per ShareNasdaq>> view original
Thursday, May 5, 2016
Asian stocks follow Wall Street lower after uneven US data and other top stories.
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