London (CNN Business)1. Tech correction: News that big tech companies face antitrust scrutiny from US lawmakers and regulators has pushed the Nasdaq into a correction. The US House Judiciary Committee said Monday it is launching a "top-to-bottom" antitrust investigation of the tech industry, including Amazon (AMZN), Apple (AAPL), Facebook (FB) and Google (GOOG). The Justice Department and the Federal Trade Commission are reportedly taking steps to begin their own probes. Already under pressure from global trade tensions, the Nasdaq dropped 1.6% on Monday. It's now 11% off highs at the beginning of May. Google parent Alphabet closed down more than 6%, while Facebook fell 7.5%. Shares in both companies stabilized in premarket trading on Tuesday. Read More Elsewhere, stocks are mixed. US stock futures point slightly higher, with the Dow set to rise 100 points, or 0.4%. The Nasdaq and S&P 500 are set for similar gains. In Europe, the FTSE 100 climbed 0.2% in early trading, while … [Read more...] about Nasdaq correction; Shell gives back; Trump in the UK
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Norton in ‘strongest position ever’ despite critical report
The boss of Norton Motorcycles says the business is going from strength-to-strength despite questions raised in its latest set of annual figures. Stuart Garner said sales at home and abroad had shot up, with new models released or in the pipeline, and said they were weeks away from opening a new £1.5 million factory at their north Leicestershire base. It comes after a report by the company’s auditors raised questions about matters such as investments in a US operation and stock quantities, and suggested income and pre-tax profit might have been “overstated”. The auditor’s report – part of Norton’s newly posted accounts for the year to March 31, 2018, when turnover was £6.7 million and pre-tax profits were £33,701 – added that “a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern”. Mr Garner said the Castle Donington-based business was not in … [Read more...] about Norton in ‘strongest position ever’ despite critical report
China’s factories power on; EasyJet warning; US retail sales
London (CNN Business)1. China surprises: China's factories are picking up new orders and hiring workers again, defying the recent slowdown in the world's second-biggest economy. The country's huge manufacturing industry unexpectedly rebounded in March, government figures showed Sunday. The official purchasing managers index for the month jumped to 50.5, compared to 49.2 in February. A reading above 50 indicates growth from the previous month. A separate survey of manufacturing activity by media group Caixin and research firm Markit released Monday was also unexpectedly positive. Goods made in Chinese factories are shipped all over the world, and their demand is often viewed as a barometer for the health of the global economy. Growth in China's factory sector shifted into reverse at the end of last year and economists polled by Refinitiv had predicted this trend would continue. Read More 2. EasyJet worries: Shares in EasyJet (ESYJY) dropped over 8% in London after the airline … [Read more...] about China’s factories power on; EasyJet warning; US retail sales
Kazakh tenge continues weakening against US dollar
Baku, Azerbaijan, Mar. 5 By Rashid Shirinov – Trend: The weighted average US dollar rate in the morning session of the Kazakhstan Stock Exchange (KASE) on Mar. 5 amounted to 376.7 tenge, Trend reports citing the Kazakh media. Thus, the national currency of Kazakhstan has weakened by 0.16 tenge against the US dollar compared to the morning session of Mar. 4 (376.54 tenge per US dollar). At today's morning trading session of the US dollar, the minimum rate was 376.1 tenge per US dollar and the maximum rate was 377.2 tenge, while the closing rate was 377.05 tenge per dollar. The trading volume amounted to $23.32 million, while the number of currency transactions totaled 62. Meanwhile, the official rate by the National Bank of Kazakhstan on Mar. 5 is 376.65 tenge per US dollar. In the exchange offices of Astana and Almaty, the maximum selling rate of the US currency is 378.5 tenge. --- Follow the author on Twitter: @ShirinovRashid Follow Trend on Telegram. Only most interesting … [Read more...] about Kazakh tenge continues weakening against US dollar
James Anderson’s new ball spell pegs back West Indies as England claim first day honours in Barbados Test
West Indies 264/8 (Hetmyer 56*) off 89.2 overs England had the better of the opening day of this series by limiting West Indies to 264 for eight wickets. James Anderson, who had bowled too short earlier, made full amends by taking three wickets in his second new-ball spell. In the process he took his total tally to 569 Test wickets and became the first England bowler to take 200 wickets overseas. Anderson had taken only one wicket in Sri Lanka before being omitted for the final Test. He had only one day of bowling during the tourists’ week of match-practice. But the engine needs nothing more than fine-tuning, even if it is 36 years old, and he reeled off 24 overs - half of them maidens - to take his four wickets for only 33 runs. Once he pitched the ball up, which he did not do in his opening spell, Anderson was as penetrative as he has ever been. West Indies were well in the game when England took the second new ball, although none of their batsmen had played the big … [Read more...] about James Anderson’s new ball spell pegs back West Indies as England claim first day honours in Barbados Test