BUSINESS NEWS March 3rd , 2016
YAHOO EXPLORING SALE OF $1 BILLION-3$ BILLION IN 'NON-CORE ASSESTS'
Yahoo Inc (YHOO.O) is exploring the sale of $1 billion to $3 billion of patents, property and other "non-core assets," its chief financial officer said on Thursday. Yahoo CFO Ken Goldman told the Morgan Stanley Technology, Media and Telecom Conference that a committee created to explore alternatives to the company's plan to spin off its core business is looking at quick sales of assets.Goldman said patents, land, property and "non-core units or businesses" are all on the table for potential sale, and the company has sold or licensed more than $600 million in patents over the last three years.
U.S ECONOMY REGAINING STEAM
The number of Americans filing for unemployment benefits unexpectedly rose last week, but the underlying trend continued to point to a strengthening labor market.The labor market optimism was, however, dimmed somewhat by a survey on Thursday showing employment in the services industries fell in February for the first time in two years, even as the overall sector continued to expand.But economists cautioned against reading too much into the drop, noting that past declines had not translated into overall labor market weakness.
ROMNEY : TRUMP A "PHONY" WHO WILL SINK THE U.S. ECONOMY
"His domestic policies would lead to recession. His foreign policies would make America and the world less safe. He has neither the temperament nor the judgment to be president," Romney said in a highly critical speech of Trump on Thursday. Romney is the latest in a deluge of high profile American leaders warning that Trump doesn't have a clue how to lead the economy, let alone the country. Trump "has a kindergarten view of economics," billionaire investor Stan Druckenmiller saidWednesday on CNBC. "The stuff that comes out his mouth just astonishes me."
ENERGY AND FINANCIAL SECTORS ADD MOMEMTUM TO WALL STREET
Wall Street moved higher on Thursday, adding momentum to a recent recovery as the energy and financial sectors emerged into positive territory for the year.The S&P 500's increase was the most recent in four weeks of mostly steady gains that have left the index down 2.5 percent in 2016 after the worst January since 2009.
It was the second straight day that stocks strengthened late in the session, a pattern that some investors view as sign of improving sentiment. The S&P has gained in five out of the last seven sessions.