Tuesday , 22 January 2019

Business News

Business Highlights

___ Stocks sink on growth fears and possible snag in trade talks NEW YORK (AP) — Stocks took a steep loss, ending a four-day winning streak, after the International Monetary Fund cut its annual growth forecast for the global economy. The IMF said the world economy faces risks including trade tensions and rising interest rates. Investors also worried about the …

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How major US stock indexes fared Tuesday

Stocks fell sharply Tuesday following new signs the global economy is weakening and reports of difficulties in trade talks between the U.S. and China. That broke a four-day winning streak for U.S. indexes. On Monday: The S&P 500 index gave up 37.81 points, or 1.4 percent, to 2,632.90. The Dow Jones Industrial Average skidded 301.87 points, or 1.2 percent, to …

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Arconic and Stanley Black and Decker slide while eBay leaps

Stocks that moved substantially or traded heavily Tuesday: Arconic Inc., down $3.25 to $17.09 The aluminum products company said it’s no longer considering selling itself. eBay Inc., up $1.90 to $32.90 Activist investor Elliott Management said it bought a stake in eBay and is pushing it to consider splitting off two businesses. Stanley Black & Decker Inc., down $21.19 to …

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5 Hyundai, Kia models have high fire insurance claim rates

Owners of five Hyundai and Kia cars and SUVs file fire insurance claims at a rate far higher than the average for comparable vehicles, according to an insurance industry study. The Highway Loss Data Institute, which analyzes data from insurers representing about 85 percent of the U.S. industry, found that some Hyundai and Kia vehicles equipped with four-cylinder engines have …

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PG&E secures $5.5B in credit to operate during bankruptcy

The nation’s largest utility has lined up $5.5 billion in credit and loans so it can continue operating as it prepares for bankruptcy. Pacific Gas & Electric said in a regulatory filing Tuesday it secured commitments from JPMorgan Chase, Bank of America, Barclay’s Bank and Citigroup Global Markets. Without the new financing, the utility could have problems accessing capital. PG&E’s …

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Pass it on: Cigna CEO says leadership evolves as you advance

David Cordani became CEO of one of the nation’s largest health insurers at age 43 and remembers clearly that no one gave him a textbook explaining the role. The now 52-year-old executive has helped his company, Cigna Corp., grow and diversify as the health care sector grapples with perpetually rising costs. Revenue at Cigna has more than doubled since Cordani …

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Insider Q&A: Cigna CEO seeks deeper push into patient health

Call Cigna a health insurer, and CEO David Cordani will try to correct you. He doesn’t consider the company a pharmacy benefit manager either, even though Cigna just spent roughly $52 billion on one of the country’s biggest prescription processors, Express Scripts. The 52-year-old executive sees Cigna as a “health service company.” That bulky label reflects insurers’ growing interest in …

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How Bill Gates influenced LinkedIn Chief Marketing Officer Shannon Brayton

Shannon Brayton began her career in corporate America at only 19 years old. What started as a temporary position at Intuit, a software company, led to 24 years and counting of working in the tech world, watching the creation of Silicon Valley. Brayton is now in a c-suite role as Chief Marketing Officer of LinkedIn. “Microsoft tried to buy Intuit …

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Stocks dip as investors fear a weakening global economy

Stocks across the world are down Tuesday as investors again grow concerned about signs the global economy is weakening. The International Monetary Fund trimmed its economic forecasts for 2019 and 2020 and pointed to risks including trade tensions and rising interest rates. China’s government said its economy grew in 2018 at the slowest pace since 1990. Technology companies skidded, and …

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Google's self-driving unit Waymo to put factory in Michigan

Google’s autonomous vehicle unit Waymo says it plans to bring a factory to Michigan. Waymo made the announcement Tuesday after the state’s economic development board approved an $8 million incentive grant. The state says the $13.6 million project will create 100 new jobs and potentially 300 more later. Waymo says it will be the world’s first factory dedicated “100 percent” …

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