European Equity Benchmarks Close Higher

European Equity Benchmarks Close Higher

The broad-based major European indices closed higher in Tuesday’s trading session, as rising mining stocks and automotive firms helped bolster the markets. In economic news, U.K. Labor leader Jeremy Corbyn suggested the government should look into placing a limit on the maximum amount citizens can earn. “We cannot set ourselves as being a sort of grossly unequal bargain basement economy on the shores of Europe,” Corbyn said in an interview […]

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Grupo Aeroportuario del Centro Norte Terminal Traffic Increased in December

Grupo Aeroportuario del Centro Norte Terminal Traffic Increased in December

Mexican airport operator Grupo Aeroportuario del Centro Norte (OMAB) reported a 14.5% increase in terminal passenger traffic at its 13 airports in December from a year ago. Domestic traffic was up 15.9% while international traffic increased 6.7%. Of total December traffic, 98.3% was commercial aviation and 1.7% was general aviation. For 2016 total passenger traffic grew 10.9% to 18.8 million passengers, a new record for the third consecutive year. Domestic […]

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Stock Indexes Little Changed

Stock Indexes Little Changed

Stock indexes were little changed in early trading Friday amid a mixed payroll report and a widening trade deficit. Payrolls rose by 156,000 in December, the Department of Labor said in a report, missing projections for an increase of 175,000. The unemployment rate was little changed, rising to 4.7%. About 2.2 million people went back to work in 2016, less than the 2.7 million who found jobs in 2015, the […]

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G-III Apparel Group Cuts FY 2017 Sales and Earnings

G-III Apparel Group Cuts FY 2017 Sales and Earnings

G-III Apparel Group expects FY 2017 sales of about $2.41 billion, down from its prior guidance of $2.43 billion but in line with the analyst consensus on Capital IQ. Net income is now seen in the range of $1.21-$1.31 per share, down from its prior view of $1.41-$1.51 per share and below the Street view of $1.52 per share. On a non-GAAP basis, the company is forecasting earnings in the […]

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Solid Advance for Financial Stocks

Solid Advance for Financial Stocks

Financial stocks were broadly higher again on Wednesday, with the NYSE Financial Sector Index climbing almost 0.9% while financial companies in the S&P 500 Index were adding more than 0.5% in value today. In company news, Assurant (AIZ) climbed to a record high on Wednesday after the specialty insurance company today said it was buying the wholly-owned Green Tree Insurance Agency from Walter Investment Management Corp (WAC) for $125 million […]

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Hartford Financial Services Strikes Reinsurance Deal With Berkshire Unit

Hartford Financial Services Strikes Reinsurance Deal With Berkshire Unit

Hartford Financial Services Group said Tuesday it has reached a deal with Berkshire Hathaway’s (BRK.A) National Indemnity Company for a $1.5 billion aggregate excess of loss reinsurance agreement covering certain of its asbestos and environmental liability exposures. The company said the reinsurance premium for the deal is $650 million and Hartford said it will be reflected in the Q4 financial statements with a $423 million after-tax charge, or a pro […]

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