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In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain's economy over the summer. “We’re reversing the 'Brexit' as it becomes evident that it was more of a political vote and decision than an economic decision,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.
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Wall Street rallies for third day as Brexit bruises fade
The company has sent letters to a number of potential buyers for the patents, which date back to when the company was founded in 1996 and also include its original search technology, the report said. The deadline for bids for the patents has been set for mid-June by Yahoo, according to the Wall Street Journal. In March, Yahoo said it would explore the sale of $1 billion to $3 billion of patents, property and “non-core assets”.
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Yahoo hires investment bank to sell about 3,000 patents: WSJ
(Reuters) – Wall Street rose on Friday and capped off its strongest week since March after U.S. Federal Reserve Chair Janet Yellen said an interest-rate hike would likely be appropriate “in the coming months.”
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Wall Street puts finishing touch on best week since March
The Federal Reserve should raise interest rates “in the coming months” if the economy picks up as expected and jobs continue to be generated, U.S. central bank chief Janet Yellen said on Friday, bolstering the case for a rate increase in June or July. “It's appropriate … for the Fed to gradually and cautiously increase our overnight interest rate over time, and probably in the coming months such a move would be appropriate,” Yellen said during an appearance at Harvard University. Although Yellen expressed caution about too steep a rise in U.S. rates, she sounded more confident than she has in the past that the U.S.
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Yellen says Fed rate hike likely appropriate in coming months
Company founder and CEO Elon Musk may not mention Tesla Motors Inc's stock price when his electric car company gives its latest financial update on Wednesday, but it will be front and center for investors divided over its seemingly rich valuation. After a rally that ended in April, Tesla's market capitalization is currently about $31 billion – equivalent to $620,000 for every car it delivered last year, or $63,000 for every car it hopes to produce in 2020. By comparison, General Motors Co's $48 billion market value is equivalent to about $4,800 for every vehicle it sold last year.
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Wall Street values Tesla Motors at $620,000 per car
The yen surged to an 18-month peak on Friday as investors wagered the Bank of Japan might be done adding fresh stimulus to the economy, hurting prospects for Japanese exporters with a move that rippled through share markets across the Asian region. Perhaps taking advantage of Japan's absence for a holiday, speculators smashed through the yen's previous top at 107.63 per dollar and drove the currency as far as 107.075. It had been at 111.67 before Thursday's decision by the BoJ not to ease policy further, even though prior media reports had set the market up for more action.
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Yen spikes to 18-month peak, Amazon softens Apple blow
(Reuters) – Yahoo Inc has set an April 11 deadline to submit preliminary bids for its web business and Asian assets, The Wall Street Journal reported on Monday, citing sources. Yahoo asked bidders details regarding financing, conditions or approvals that would have to be met on their end, and what key assumptions they would be making by deciding to move forward with a deal, the Journal said, citing a letter sent to possible bidders. Yahoo could not be immediately reached for a comment outside regular business hours.
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Yahoo sets April 11 deadline for preliminary bids: WSJ
U.S. crude pared some of their gains, but were up more than 2 percent after the International Energy Agency said oil prices might have bottomed as output in the United States and other non-OPEC countries was beginning to fall quickly. Investors took a positive view of European Central Bank's new stimulus package unveiled on Thursday, despite ECB President Mario Draghi signaling an end to further rate cuts. The Nasdaq Composite was up 66.03 points, or 1.42 percent, at 4,728.19.
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Wall Street rally boosted by higher oil prices
Warren Buffett on Saturday used his annual letter to Berkshire Hathaway Inc shareholders to launch vigorous defenses of an aggressive private equity partner and a maligned mobile home unit, as his conglomerate recorded robust profits. The world's third-richest person and a revered investor, Buffett also injected himself into the contentious 2016 U.S. presidential campaign, lambasting candidates who talk down the nation's economic future as “dead wrong” – an apparent jab at Republicans and frontrunner Donald Trump. Buffett, who is backing Democratic candidate Hillary Clinton, also raised a political issue dear to Democrats in his widely-read letter by calling climate change a “major problem for the planet,” although not one for Berkshire's future.
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Warren Buffett defends 3G, touts economy in record year for Berkshire
(Reuters) – Yahoo Inc said its board formed an independent committee to explore strategic alternatives, alongside the pursuit of the reverse spinoff of its Internet business. The committee has engaged Goldman Sachs & Co Inc, J.P. Morgan and PJT Partners Inc as its financial advisers, and Cravath, Swaine & Moore LLP as its legal adviser. The committee and its advisers are working on a process for reaching out to and engaging with potentially interested strategic and financial parties, the company said on Friday. (Reporting by Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila)
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Yahoo board forms committee to explore strategic alternatives