West Virginia Online PowerBroker West Virginia Online PowerBroker
HOME SECTIONS SEARCH NEWS FINANCE MY ACCOUNT ABOUT
Sun, July 22 // 8:52AM est. Good Morning! Login New Shopper? Start Here New Business? Start Here
West Virginia Online PowerBroker



Finance

 
Financial News


Trump waives attorney-client privilege in connection with Cohen tapeExternal Link

President Trump has waived attorney-client privilege in relation to the conversation secretly recorded by longtime Trump lawyer Michael Cohen, Trump's personal attorney, former New York Mayor Rudy Giuliani, said Saturday, according to NBC News. Trump earlier Saturday had called the tape "totally unheard of [and] perhaps illegal." NBC's Kelly O'Donnell said Giuliani explained the decision to waive privilege by saying word of the tape's existence -- it reportedly includes pre-election discussion of payment to a former Playboy Playmate who has said she had an affair with Trump -- "was already out there." Giuliani said Friday that the tape was "exculpatory" for his client.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Sat, 21 Jul 2018 19:27:09 GMT
West Virginia Online PowerBroker
Fiat Chrysler replaces ailing CEO Marchionne with Jeep unit bossExternal Link

Fiat Chrysler CEO Sergio Marchionne, said to be suffering from serious postsurgical complications, is being replaced at the Italian-American company's helm by Mike Manley. Manley, who heads the company's Jeep and Ram operations, is 54 and British-born, according to a Crain's Detroit Business report. The charismatic 66-year-old Marchionne, born in Italy and raised in part in Canada, became chief executive of Fiat in 2004, several years before the Turin, Italy, company joined forces with the Detroit-based Chrysler. Fiat Chrysler Chairman John Elkann, scion of the Agnelli industrial empire that began with Fiat's founding, said in a statement emailed to MarketWatch that the turn in Marchionne's health and the need to enact a succession plan had been "unthinkable until a few hours ago."

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Sat, 21 Jul 2018 16:35:34 GMT
West Virginia Online PowerBroker
Yuan weakness being watched for signs of manipulation: MnuchinExternal Link

Treasury Secretary Steven Mnuchin reportedly said Friday that the U.S. was monitoring recent weakness in China's yuan for any sign of currency manipulation, saying that weakness unquestionably "creates an unfair [trade] advantage." Mnuchin reportedly said in an interview with Reuters in Brazil that recent movement in the yuan would be assessed in the Treasury's semiannual report on currency manipulation. The next such report is set for release in October. Also see: Treasury's Mnuchin says Trump backs Fed independence

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Sat, 21 Jul 2018 13:59:25 GMT
West Virginia Online PowerBroker
Treasury's Mnuchin says Trump backs Fed independenceExternal Link

Treasury Secretary Steven Mnuchin says President Donald Trump, despite comments this week expressing opposition to monetary-policy tightening by the Federal Reserve, supports the U.S. central bank's independence. "I fully support the Fed's independence, as does the president," Mnuchin reportedly said on the sidelines of a G20 meeting of finance ministers and central bankers in Buenos Aires. Trump broke with long-standing precedent this week by saying he was "not happy" with recent interest-rate increases. He later said he "couldn't care less" about concerns that his comments could imperil the Fed's independence from politics because his views on interest rates have not changed since his days as a businessman. He harshly criticized former Fed chairwoman Janet Yellen for, he said at the time, maintaining low target lending rates for the political benefit of then-President Barack Obama.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Sat, 21 Jul 2018 13:07:54 GMT
West Virginia Online PowerBroker
Lumentum paces optical stocks downward on tariff concernsExternal Link

Optical stocks were hit Friday after President Donald Trump said he was prepared to "go to 500" in a tariff battle with China, referring to the idea that the U.S. may levy tariffs on $505 billion in Chinese products, or the whole import balance from last year. Shares of Lumentum Holdings Inc. fell 8.4% Friday, while shares of Oclaro Inc. , which Lumentum intends to acquire, declined 4.1%. Oclaro generates more than 10% of revenue from China's ZTE , Needham analyst Alex Henderson has written in the past. Raymond James analyst Simon Leopold wrote Friday that Win Semiconductors Corp.'s disappointing outlook also pressured Lumentum shares. "Win Semi is Lumentum's contract manufacturer, or fab, for its VSCELs used in 3D-sensing modules," he wrote. "We have not observed a quarterly correlation between Win results and Lumentum, but it is a negative indication." Shares of other optical names including Finisar Corp. , Acacia Communications Inc. , and NeoPhotonics Corp. also traded lower. Lumentum shares were off 11.3% over the past 12 months before Friday's session, while the S&P 500 has gained 13%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 20 Jul 2018 22:43:55 GMT
West Virginia Online PowerBroker


West Virginia Online PowerBroker
In The Spotlight...
River Expeditions
Experience real adventure in the scenic, historic New River Gorge National Park in West Virginia. Discover amazing rafting, rock climbing, mountain biking, ATV touring, horseback riding and more. Let River Expeditions host your trip for memories that last a lifetime. Our affordable vacation packages include lodging, meals, adventures and attractions. Rafting is a must… something the entire family can enjoy together for years to come.



Site Statistics
Memberships 2734
Business Listings 4154
Home | Sections | Search | News | Finance | My Account | Terms and Conditions | Privacy Policy

© 2018 Citynet. All Rights Reserved.