Financial News

Tuesday, October 15th
October 14, 2019
AP-NC Newswatch
October 14, 2019
Financial News

 

 

 

Stocks steady…Brexit talks could drag on…Nobel winners hope for more research on poverty

NEW YORK (AP) – Stocks have stalled on Wall Street as investors remain cautious about the prospects of a full trade agreement between the U.S. and China. Technology and health care stocks were posting some solid gains even as the energy sector fell because of a decline in the price of crude oil. The market started shifting sideways after falling in the early going. The muted trading follows a rally Friday that pushed the market to a weekly gain after three straight weeks of losses.

 

UNDATED (AP) – Both Ireland and Spain are starting to say the Brexit negotiations could well spill beyond this week and go right down to the wire at the end of the month. Originally, this week was seen as the do-or-die week, with a two-day EU summit starting Thursday and a special U.K. House of Commons debate slated for Saturday.

 

CAMBRIDGE, Mass. (AP) – Two of this year’s Nobel Economics Prize laureates say they hope their win will open more doors for research into poverty. Abhijit Banerjee and Esther Duflo, of the Massachusetts Institute of Technology, said Monday at an MIT news conference in Cambridge, Massachusetts, that they’re among about 400 experts worldwide who are focused on understanding what causes poverty.

 

LANSING, Mich. (AP) – The state of Michigan’s retirement systems have ended a contract with an investment company that managed more than $600 million in pension funds because of the CEO’s comments at a conference. The Michigan Department of Treasury’s Bureau of Investments fired Fisher Investments last week. The decision came two days after founder and CEO Ken Fisher spoke at the Tiburon CEO Summit in San Francisco. CNBC obtained audio of Fisher referencing genitalia. The Washington Post reported that he spoke of doing acid and his belief that charities are immoral.

 

NEW YORK (AP) – Japanese investment firm Softbank could take control of WeWork as part of a financial package to address the company’s cash crunch since its botched effort to sell the public its stock, according to The Wall Street Journal. The deal would further sideline co-founder Adam Neumann, who resigned as chief executive last month but still wields influence over the company because his shares carry higher voting power.

 

AP-WF-10-14-19 1820GMT