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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Wall Street Journal

Constellation CEO Rob Sands to Step Down From Corona Brewer

Wed, Oct 17, 2018

Rob Sands, the third in his family to lead the upstate Victor, N.Y. company, will step aside as chief executive on March 1, entrusting Constellation’s future to one of his lieutenants, Bill Newlands....

IBM Shares Slide as Revenue Drop Renews Concerns

Wed, Oct 17, 2018

Shares of International Business Machines fell Wednesday after the company’s drop in revenue renewed concerns about the tech giant’s growth prospects....

Ties to Saudi Prince Weigh on SoftBank Fund's Future

Wed, Oct 17, 2018

Billionaire Japanese tech investor Masayoshi Son and Saudi crown prince Mohammed bin Salman have been mutual supporters and business partners—but the disappearance of journalist Jamal Khashoggi has cast a shadow....

Edward Lampert, the Hedge-Fund Star Who Bet on Sears, Is Unrepentant

Wed, Oct 17, 2018

He made billions for investors in his ESL Investments fund by bucking naysayers. At the storied American retailer, which filed for bankruptcy this week, his instincts proved wrong....

EBay Sues Amazon, Alleging Sellers Were Illegally Poached

Wed, Oct 17, 2018

EBay.com filed a lawsuit against Amazon.com, accusing the company of illegally poaching sellers on its marketplace via eBay’s internal messaging system. ...

Fed Minutes Point to Continued, Gradual Interest-Rate Increases

Wed, Oct 17, 2018

Federal Reserve officials signaled they see a strong economy justifying continued interest-rate increases and said they will watch for evidence their moves are keeping economic growth on an even keel, minutes of their September policy meeting showed....

U.S. Does Not Name China as Currency Manipulator

Wed, Oct 17, 2018

The U.S. Treasury again passed up a formal opportunity to designate China a “currency manipulator,” but singled out the nation’s currency practices as a source of “particular concern.”...

Trump Administration Moves to End Deep Discounts for Packages From China

Wed, Oct 17, 2018

The Trump administration opened a new front in Washington’s economic conflict with China, starting a process to withdraw from a 144-year-old international postal body whose discounts allow Chinese merchants to ship small packages to U.S. customers at steeply discounted rates. ...

U.S. Boosts Credit Line to Mexico in Gesture of Ties

Wed, Oct 17, 2018

The U.S. is boosting the size of a credit line available to Mexico in times of need, part of a largely symbolic display of close ties as the countries prepare to sign a new version of the North American Free Trade Agreement. ...

U.S. Housing Starts Fell in September

Wed, Oct 17, 2018

Home construction fell last month, continuing a weak stretch driven by rising borrowing costs and expensive properties that are out of reach for most Americans....

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