BUSINESS NEWS MAY 26TH, 2016
Stocks ended around the flatline Thursday with the Dow failing to build upon its best two-day point gain since early March as investors digested the news of oil prices topping $50 per barrel for the first time since October and more data showing the U.S. economy is attempting to recover from a weak start to 2016.The Dow Jones industrial average, which has rallied nearly 360 points the past two days, ended down a scant 23 points, or 0.1%. The broader Standard & Poor's 500 stock index was fractionally negative and the technology-dominated Nasdaq composite bumped up 0.1%
TRUMP OUTLINES 'AMERICA FIRST' ENERGY PLAN
Donald Trump outlined an energy plan he’s calling “America First” on Thursday, using a speech in North Dakota’s oil country to promote oil, natural gas and coal for the country’s future.The presumptive GOP nominee's plan, which shares a name with his foreign policy platform, is as much about helping the fossil fuel sector as it is about fighting what he sees as “job-killing” policies from the Obama administration that Hillary Clinton would only further.It aligns closely with longstanding priorities of federal Republican policymakers, not also veers away from GOP orthodoxy as the billionaire businessman has done in other policy areas.
TWITTER LOSES TWO MORE EXECUTIVES
Twitter Inc. is losing two senior executives, departures that come as the social-media company continues to try to keep key talent on board.Jana Messerschmidt, a veteran executive who was in charge of global business development, and Nathan Hubbard, who joined to run the commerce team but was most recently leading the global media team, are both planning to leave the company, according to a person familiar with the matter.Both executives have been planning to exit for several months, this person said.Their positions will be consolidated and taken over by Ali Jafari, the head of revenue in business development, this person said.A Twitter spokesman confirmed the moves and Mr. Jafari’s appointment. He declined to comment further.
UNITED SPIRITS Q4 LOSS NARROWS TO RS8.99 CRORE
Liquor major United Spirits Ltd standalone net loss narrowed to Rs.8.99 crore for the fourth quarter ended March 2016, on account of exceptional items.The company had reported a net loss of Rs.1,799.28 crore for the January-March quarter a year-ago, United Spirits said in a BSE filing.Net sales of the company on a standalone basis was up 13.03% to Rs.2,283.64 crore during the quarter under review as against Rs.2,020.37 crore during the same period, a yea-ago.