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US stocks drop sharply; Airlines sink

FILE - In this May 11, 2007, file photo, a Wall Street sign is mounted near the flag-draped facade of the New York Stock Exchange. Stocks are heading lower in early trading Wednesday, Oct. 1, 2014, putting the market on course for its third loss in a row. (AP Photo/Richard Drew, File)NEW YORK (AP) ? The stock market sank Wednesday, with the Dow Jones industrial average falling 250 points, on disappointing economic news and a slide in airlines stocks over Ebola fears. Investors moved money into traditional havens in times of uncertainty: bonds, gold and stocks that pay large dividends, such as utilities.


Exclusive: BATS eyes Concannon, Marques for exchange president

Concannon, Senior Partner at Virtu Financial, speaks at the Reuters Exchanges and Trading Summit in New YorkBy John McCrank and Herbert Lash NEW YORK (Reuters) - BATS Global Markets has narrowed its search for a new president to two industry executives with close ties to the No. 2 U.S. stock market operator, three sources familiar with the situation said on Wednesday. Chris Concannon, president and chief operating officer of trading firm Virtu Financial, and Jose Marques, global head of electronic trading at Deutsche Bank, are the front-runners for the position, the sources said. Neither candidate, however, is guaranteed to take the job and others remain in the mix, one of the sources said. ...


Thailand?s biggest fund confident rally will end

BANGKOK: Thailand?s biggest money manager isn?t backing down from his call that the country?s stock-market rally is about to fizzle out after valuations climbed to the highest level in 14 months versus developing-nation peers. The benchmark Stock Exchange of Thailand (SET) Index climbed 7.7 per cent through yesterday after Win Phromphaet, the head of investments at Thailand?s Social Security Office, said in June that he was holding cash in anticipation of a market decline. The benchmark SET Index is valued at 2.3 times net assets, 57 per cent more expensive than the MSCI Emerging Markets Index, according to data compiled by Bloomberg.

5 reasons bonds may be less safe than you think

In this Sept. 24, 2014 photo, traders work in the ten-year bond pit on the floor of the CME Group in Chicago. Main Street investors have poured a trillion dollars into bonds since the financial crisis, and helped send prices soaring. As fund managers and regulators fret about an inevitable sell-off, the bigger fear is that when people go to unload, there won?t be anyone to buy. (AP Photo/M. Spencer Green)NEW YORK (AP) ? Burned by the stock-market crash during the financial crisis, investors have poured a trillion dollars into bond funds in the past six years. They like the interest payments that bonds throw off, and that their prices barely move day to day.


TSX fall gets deeper as financial, energy shares drag

By John Tilak TORONTO (Reuters) - Canada's main stock index extended its recent steep slide on Wednesday on weakness in the financial and energy sectors as concerns about the rise of the U.S. dollar and sluggish commodity prices continued to dog the market. The benchmark has dropped in eight of its past nine sessions. Adding pressure on Wednesday, a business survey from the euro zone showed manufacturing growth in the region slowed in September as new orders contracted for the first time in more than a year. The Toronto stock market's benchmark index fell 4. ...

How To Conquer The Email Digging Nightmare

How To Conquer The Email Digging NightmareDo you curse the name of whoever led you to 2000 unread messages? Read below for some tips on how to conquer that inbox! V.A. Shiva Ayyadurai, creator of email and now faculty lecturer at MIT, told the Wall Street Journal that the first thing people say to him when they learn of his foray...


Exclusive: Goldman leads investment by Wall Street in new communications platform

A Goldman Sachs sign is seen over the company's trading stall on the floor at the New York Stock ExchangeBy Lauren Tara LaCapra NEW YORK (Reuters) - After spending two years developing a wide-ranging communications tool for Wall Street, Goldman Sachs Group Inc says it has reached the perfect pitch. On Wednesday, Goldman and 13 partners plan to announce a $66 million investment in a new company called Symphony Communication Services Holdings LLC, according to a draft press release viewed by Reuters. The partners are all financial services firms, including major global banks and asset managers. ...


British financial watchdog to investigate Tesco accounting scandal

A sign spells out the store name on a Tesco store in Bow, east LondonBy Sarah Young LONDON (Reuters) - Britain's financial watchdog has launched a full investigation into the Tesco accounting scandal that has now wiped 4 billion pounds from the troubled grocer's stock market value. Tesco, Britain's biggest grocer and the world's third-largest retailer, announced on Sept. 22 that it had overstated first-half profit by 250 million pounds - effectively its third profit warning in two months. The news of the Financial Conduct Authority investigation sent Tesco's shares down 3 percent to 180 pence by 1011 GMT (11:11 p.m. BST) on Wednesday. ...


 
 
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