Business

12 Russian intelligence officers indicted for hacking 2016 elections

12 Russian intelligence officers indicted for hacking 2016 elections

12 Russian intelligence officers were indicted Friday for hacking into the Democratic National Committee‘s server, as well as the Democratic Congressional Campaign Committee and the presidential campaign of Hillary Clinton. Special Counsel Robert Mueller is investigating alleged election interference by Russia into the 2016 presidential election. The indictment says that all 12 defendants are members of the GRU, one of […]

Cheese prices are crumbling in 2018 but a trade-war meltup could provide support

Cheese prices are crumbling in 2018 but a trade-war meltup could provide support

Record U.S. supplies of cheese have contributed to a drop in prices this year, and traders predict more of the same for the rest of 2018. Longer term, however, hope of a turnaround in prices lies in a prolonged global trade dispute that may cause dairy farms to close up, leading to a slowdown in cheese production. settled at $1.5425 […]

Cisco and other networking stocks sink, hit be fears over new Amazon competition

Cisco and other networking stocks sink, hit be fears over new Amazon competition

Large networking companies like Cisco Systems Inc. Arista Networks Inc. and Juniper Networks Inc. were hit in Friday trading by a monster that has already rampaged through other sectors: Fear that Amazon Inc. will make a challenge. Friday that Amazon is considering selling its own network switches with built-in connections to its Amazon Web Services cloud-computing offerings. The generic networking […]

Rio Tinto sells copper mine interests for $3.5B to Inalum, sending stock higher

Rio Tinto sells copper mine interests for $3.5B to Inalum, sending stock higher

Rio Tinto PLC and Freeport-McMoRan Inc. announced Thursday a deal for the sale of Rio Tinto‘s interest in the Grasberg copper mine to Indonesia‘s state mining company, PT Indonesia Asahan Aluminium (Inalum) for $3.5 billion. Rio Tinto‘s U.S.-listed shares rose 1.2% in premarket trade and Freeport‘s stock rallied 1.8%. Freeport currently owns 90.6% of the Grasberg mine and Inalum owns […]

Zogenix shares soar 19% premarket after positive trial for severe epilepsy

Zogenix shares soar 19% premarket after positive trial for severe epilepsy

Zogenix Inc. shares soared about 19% in premarket trade Thursday, after the biotech reported positive results in a late-stage trial of a treatment for the severe form of epilepsy, Dravet syndrome, in children and young adults. The company said the Phase 3 study of its investigational drug ZX008 met its primary endpoint of reducing convulsive seizure frequency, as well as […]

Consumer inflation hits 6-year high, wipes out wage gains over past year

Consumer inflation hits 6-year high, wipes out wage gains over past year

The rate of consumer inflation in the past 12 months rose in June to the highest level in more than six years. The numbers: Consumer prices rose in June at the highest yearly rate since 2012, reflecting a U.S. economy that’s running hotter than anytime since the Great Recession. The increase in the cost of living rose to a 12-month […]

Twitter‘s stock rallies as analyst is upbeat on clearing out fake accounts

Twitter‘s stock rallies as analyst is upbeat on clearing out fake accounts

Shares of Twitter Inc. rallied 2% in premarket trade Thursday, bouncing from a 6% slide suffered over the previous three sessions amid concerns over how the clearing out of millions of fake accounts would affect user numbers. Analyst Rob Sanderson at MKM Partners reiterated his buy rating on the social media company, saying, "Getting rid of bad actors and rampant […]