Latest news for Prudential Jennison 20/20 Focus A(PTWAX) (See analysis on PTWAX)
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Wednesday August 24th 2016: Latest financial news from the worldAsia slips on weaker Wall Street, dollar marks time before Yellen
TOKYO (Reuters) - Asian stocks slipped on Thursday, taking their cue from an overnight drop on Wall Street, while the dollar marked time ahead of Friday's speech by Federal Reserve Chair Janet Yellen at the global central bankers' meeting.
Ex-Comverse CEO pleads guilty to fraud, a decade after fleeing to Africa
By Nate Raymond NEW YORK (Reuters) - The former chief executive officer of Comverse Technology Inc pleaded guilty to securities fraud on Wednesday and was ordered detained a decade after fleeing the United States for Namibia to avoid prosecution. Jacob "Kobi" Alexander, the Woodbury, New York-based software developer's founder, entered the plea in federal court in Brooklyn, after ending his fight to avoid extradition. Benjamin Brafman, Alexander's lawyer, said he was "bitterly disappointed." It was unclear if Alexander would appeal.
HP Inc beats estimates, weak printer demand weighs on forecast
By Aishwarya Venugopal (Reuters) - HP Inc , the hardware business of the former Hewlett-Packard Co, reported higher-than-expected quarterly revenue and profit as demand recovered for its notebooks. However, HP forecast current-quarter profit below analysts' estimates, reflecting weak sales of its printers as companies cut costs across industries. HP's shares fell nearly 6 percent in extended trading on Wednesday. Third-quarter revenue from the company's computer business rose 7.5 percent from the second quarter as sales of notebooks improved. ...
U.S. banking regulators focused on cyber security after SWIFT attacks
U.S. banking regulators said on Wednesday they are focused on cyber security risks and controls for U.S. financial institutions after attacks earlier this year involving the global financial network known as SWIFT. In a letter responding to questions from Representative Carolyn Maloney, a Democrat from New York, the regulators also said the U.S. Treasury Department's Office of the Comptroller of the Currency was drafting guidance on interbank messaging and wholesale payment systems. "As part of ongoing supervision activities, the OCC's onsite examination teams regularly address emerging issues, such as the recent reports of cyber-attacks involving SWIFT," said the letter from banking regulators including the Federal Reserve Board and Federal Deposit Insurance Corporation.
SEC fines Wilbur Ross firm $2.3 million over fees
The fine is the latest in a string of actions taken by the SEC against the private equity sector, as it seeks to improve transparency and crack down on undisclosed fee collection by some fund managers. In exchange for promises to deliver annual returns higher than 15 percent, U.S. buyout firms typically charge their investors an array of fees for their services. For instance, private equity firms usually charge a management fee worth around 1.5 percent of the total cash managed.
Japanese seek bargains as economy limps, Abenomics loses shine
By Leika Kihara TOKYO (Reuters) - Three years of so-called "Abenomics", Japanese Prime Minister Shinzo Abe's bold stimulus program, has failed to dislodge a deflationary mindset among businesses and consumers. As the world's third-largest economy falters again - with a stronger yen gnawing at overseas profits and domestic consumption sapping companies' confidence to invest or sufficiently raise wages - firms that increased their prices in the hope of a sustained recovery are rethinking their strategy. "There's a sense the economy is stalling and companies' earnings are bad this year, so I'm holding off from spending on big items," she said.
Indonesian stocks dally at record peak as investors fear tipping point
By Fransiska Nangoy JAKARTA (Reuters) - Indonesian stocks are on a roll - with 18 percent gains this year and a boost from President Joko Widodo's economic reforms - and yet, investors worry about buying more of a market hitting historic peaks. The Jakarta Composite Index is Asia's second-best performer in dollar terms this year but its winning streak has turned share valuations uncomfortably rich. The ratio of the average price to 12-month forward earnings for Indonesia's MSCI index , or the PE ratio, is 16.44 - well above its historical average of 12.4 and at its highest since 1999.
Puerto Rico cannot enforce a Wal-Mart tax: U.S. appeals court
A U.S. appeals court on Wednesday said cash-strapped Puerto Rico cannot force Wal-Mart Stores Inc's affiliate on the island to pay a special corporate tax that the retailer claimed was discriminatory and violated the U.S. Constitution. The 1st U.S. Circuit Court of Appeals in Boston upheld a lower court order blocking Puerto Rico from imposing its alternative minimum tax against Wal-Mart Puerto Rico Inc. Wal-Mart argued it was the only company that fit that description and effectively taxed on items from its own distribution centers but not those bought from Puerto Rican vendors.
More U.S. retailers probing phony Egyptian cotton
CHICAGO/NEW DELHI (Reuters) - U.S. retailer Bed Bath & Beyond on Wednesday said it ordered an external audit of textiles from Welspun India , after Target Corp last week accused the Indian manufacturer of passing off cheap sheets as premium Egyptian cotton for two years. This could compound the woes of Welspun, which supplies to several large U.S. retailers and has seen its shares plummet nearly 43 percent since Target's announcement on Friday. It also harms Indian Prime Minister Narendra Modi's efforts to spur global companies to increase manufacturing in India.
U.S. crude down 3 percent after big stockpile build
The U.S. Energy Information Administration (EIA) said crude inventories rose 2.5 million barrels last week, versus analysts' forecasts for a draw of 500,000 barrels. U.S. West Texas Intermediate (WTI) futures settled down $1.33, or 2.8 percent, at $46.77 per barrel. Brent crude futures fell 91 cents, or 1.8 percent, to close at $49.05.
WHY IT MATTERS: Income inequality
WHY IT MATTERS: Health care
US stocks edge higher in midday trading
Major stock indexes shifted higher in midday trading Thursday, getting a lift from an encouraging report on Chinese manufacturing and some positive earnings from Best Buy, Dollar Tree and other retailers. The market also got a boost from data showing modest improvement in sales of previously occupied homes.
Giant butt-shaped aircraft crashes because butts weren't meant to fly
Can a social network curb racial profiling?
Why Heath Ledger's Joker was the best Batman bad guy
Google Fiber flips the switch on super-fast internet in Salt Lake City
Beware of moldy bagpipes: Doctors warn musicians of health concerns
How to remove pesky malware from your PC with Windows Defender Offline
Americans say science is why they've given up religion
China's Mars rover concept looks like a butterfly
Parents have little clue what their kids are doing online, study says
Technically Incorrect: A Microsoft-sponsored survey suggests teens think their parents have little awareness of their online activity. And less than a third of parents suspect their kids have secret online lives.
Would you believe that Lincolns have the highest rate of owner satisfaction?
Hackers post 'Ghostbusters' star Leslie Jones' nude photos, private data
Microsoft jumps into the livestreaming business with its acquisition of Beam
Video: How smart cities are using automation to increase energy efficiency
Fingerprint scanner scares refugees away from safe haven
What goes up, must come down: Domino tower gives it up to gravity
Fisherman reportedly kept $100 million pearl under his bed for 10 years
Google's balloon-fueled internet venture gets a new leader
Tim Cook en Apple: 5 años que se traducen a 5 cifras récord
Hace exactamente cinco años, Cook tomó las riendas de la gigante de Cupertino. Bajo su mandato, la empresa alcanzó su récord de ventas para el iPhone, lanzó un reloj inteligente y abrió casi 500 tiendas por todo el mundo. ¿Cómo pintan los próximos 5 años?
Here are all your Pokemon saying, 'YAS!' in character
How to use PowerPoint 2016's stunning new Morph transition
Her name is Rio and she dances on the stand: Kia heads to Paris
How big data helped raise big money on the campaign
Could life exist on Proxima b, the closest Earth-like planet in the universe?
Hackers nab 25M accounts in another Mail.ru breach
Found in space: Planet Proxima b could be Earth's closest cousin
TechRepublic to partner with CNET and City of Louisville to connect smart cities to professionals and their living spaces
Discovery of 'another Earth' revs plan for fly-by of laser-propelled spacecraft
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