Author: admin

President Barack Obama said Friday his administration is rejecting the proposed Keystone XL pipeline application from TransCanada Corp. because it wouldn’t have served U.S. interests. Speaking at the White House, Obama said the project wasn’t a “silver bullet” for job creation and it wouldn’t have boosted U.S. energy security. Energy prices have dropped even as carbon pollution also is falling, Obama said. The company applied for permission to build the pipeline in 2008. Earlier this week, the State Department rejected a request from the company for a delay of its permit review. The proposed project linked Canada’s oil sands to Steele City, Neb. From there it was intended to connect with existing pipelines to U.S. Gulf Coast refineries.

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.

…read more

From:: Stock Market News

Republican presidential candidate Ben Carson’s campaign admitted Friday that the former neurosurgeon fabricated a story about applying to and being accepted at West Point. Carson’s campaign made the admission in response to an inquiry from Politico. West Point has no record of Carson applying for admission, Politico said. In Carson’s book “Gifted Hands,” he says he got a “full scholarship” to the military academy.

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.

…read more

From:: Stock Market News

Merck & Co. Inc.’s stock dropped 1.5% in midday trade Friday, after the drug maker disclosed in a filing late Thursday that it had received a civil investigative demand from the U.S. Attorney’s office. The demand requests information related to the contracting and pricing of its Dulera Inhalation Aerosol asthma treatment with certain pharmacy benefit managers and Medicare Part D plans. Merck said in the filing that it was cooperating with the investigation. The stock has lost 4.5% year to date, while the Dow Jones Industrial Average has ticked up 0.1%.

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.

…read more

From:: Stock Market News

WASHINGTON (MarketWatch) — A hastily-called press conference has been set for President Barack Obama to announce the rejection of the proposed Keystone XL pipeline from TransCanada . The White House has said Obama will speak at 11:45 a.m. after meeting with Secretary of State John Kerry, whose agency had the responsibility to make the decision.

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.

…read more

From:: Stock Market News

By Brian Bandell

Miami Beach’s South of Fifth neighborhood has become a trendy spot for condo development and restaurants, but one apartment building has missed out on the boom and could be seized in foreclosure.

SHE DDF1-FL1 LLC, an affiliate of Miami Beach-based Safe Harbor Equity Managers, filed a foreclosure lawsuit on Nov. 2 against TwoFifty Collins LLC. It targets the 28-unit building at 250 and 260 Collins Ave.

Alessandro Renzetti, the managing member of TwoFifty Collins, wasn’t named in the lawsuit.

The… …read more

From:: biz journal foreclosures

U.S. stocks opened mostly lower after a much-anticipated jobs report said the economy created 271,000 jobs in October, the biggest gain this year. The surprisingly strong numbers further shifted expectations toward a December rate hike. The main indexes are still looking to book modest weekly gains. The S&P 500 opened 2 points, or 0.1%, lower to 2,098. The Dow Jones Industrial Average added 32 points, or 0.2%, to 17,897. The Nasdaq Composite began the day flat at 5,128.

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.

…read more

From:: Stock Market News

Financial stocks got a big boost in premarket trade Friday, after a much better-than-expected October jobs report provided hope that the Federal Reserve would raise interest rates sooner rather than later. The SPDR Financial ETF climbed 1.3%, after trading little changed just prior to the jobs data. Among its components, shares of Bank of America Corp. shot up 2.5%, Citigroup Inc. climbed 2.3%, J.P. Morgan Chase & Co. ran up 2.2%, Wells Fargo & Co. rallied 1.8% and Goldman Sachs Group Inc. gained 1.9%. Rising interest rates can help boost banks’ bottom lines as it could increase net interest margins, which is the spread the banks make from funding longer-term loans with shorter-term borrowings. The Fed’s next rate policy meeting is scheduled for Dec. 15 to Dec. 16.

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.

…read more

From:: Stock Market News

The dollar soared against its rivals Friday after official data showed the U.S. added far more jobs in October than economists had expected. The U.S. economy added 271,000 jobs in October, compared with a consensus forecast for 177,000. The euro declined to $1.0706 after the data, its lowest level since late April, according to data from FactSet. It had traded at $1.0862 shortly before. The dollar strengthened to 123.04 yen after the report, its highest level since late August, rising from 121.91 yen before. The pound dropped to $1.5044 afterward – also its lowest since April. The British currency had traded at $1.5147 shortly beforehand.

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.

…read more

From:: Stock Market News

Short-term Treasury yields spiked Friday to their highest level in five years, after the Labor Department said the U.S. economy created 271,000 new jobs in October marking the largest monthly employment gains of the year and eclipsing economists’ estimates. Hourly wages also rose at the fastest year-over-year pace since 2009. The stellar jobs report sent Treasury yields soaring, as it was taken as an indication that the Federal Reserve could raise interest rates in its December meeting. The 2-year Treasury yield gained 8.4 basis points to 0.926%, a five-year high. The benchmark 10-year yield gained 6.4 basis points to 2.307, a nearly four-month high. The 30-year Treasury yield rose 3.5 basis points to 3.047%.

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.

…read more

From:: Stock Market News

WASHINGTON (MarketWatch) – The long-awaited increase in worker pay might finally be here. The average hourly wage paid to American workers rose 0.4% in October and posted the strongest 12-month gain since mid-2009. The typical worker earned $25.20 an hour in October, up 9 cents from the prior month. From October 2014 to October 2015, hourly wages rose 2.5%, the best year-over-year gain since the U.S. exited recession in June 2009. Annualized increases in pay had stuck to a tight range of 2.2% or less for the past five years, but economists have been expecting a faster increase amid a deep drop in unemployment and the creation of millions of new jobs. The amount of time people worked each week, meanwhile, was flat at 34.5 hours last month.

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.

…read more

From:: Stock Market News