Articles by: Ivaylo Mihaylov

US stocks decline in the first session for the 2014

US stocks started the year with a decline for the first time since 2008, after a 2013 rally that brought the biggest gains in 18 years for the Dow Jones Industrial Average. The Dow slid 135.31 points, or 0.8%, to 16441.35. Traders and strategists said the sell-off was driven by investors paring positions in US […] Read more

US stocks slightly rise pushing Dow to fresh record

The Dow Jones Industrial Average rose, reaching an all-time closing high and headed toward its biggest annual gain since 1996. The Dow added 26 points, or 0.2%, to 16504, setting a record for the 51st time this year. The index has climbed in nine of the past 11 sessions. The S&P 500 fell less than […] Read more

US stock-index futures little changed in low volume trade

U.S. stock-index futures remained almost unchanged, after the Standard & Poor’s 500 Index advanced for a second week, heading toward its biggest annual gain since 1997. Futures on the Standard & Poor’s 500 Index expiring in March fell less than 0.1% to 1,836.30 at 12:04 p.m. in London. The S&P 500 climbed to a record […] Read more

Sanofi fails to win multiple sclerosis drug regulatory approval in US

Sanofi missed US regulatory approval for its multiple sclerosis drug Lemtrada, as the company’s ambitions of capturing a larger share of the $20 billion market for the disease, evaporated. The US Food and Drug Administration said Sanofi’s Genzyme unit didnt submit evidence from “adequate and well-controlled studies” showing that the benefits of Lemtrada outweigh its […] Read more

Walmart to expand profitable Sam’s club stores in China

Walmart’s international expansion of its Sam’s Club chain, which in China targets increasingly rich customers in the country’s largest cities, is a key part of the US retailer’s strategy to offset stagnant sales in its home market. This is part of Walmart’s efforts to accelerate its business in China, where it has had a poor […] Read more

Car manufacturers turn to digital showrooms to catch up with upcoming trend

Audi’s flagship car showroom in London seems empty at a first glance and one may conclude it needs a few more cars inside. A single two-seater R8 Spyder sports car, the brand’s most exclusive model, sits alone in the shop’s window. Instead of half a dozen other cars wedged in around the store as would […] Read more

GM recalls 1.5 million cars from its key Chinese market

General Motors Cos China joint venture will recall close to 1.5 million vehicles due to a defect with the fuel pump brackets, in one of the largest safety recalls in the worlds biggest auto market. Right after the news was released, GM shares slipped 1.4%. Analysts said the issue hasnt resulted in any known accidents […] Read more

US stocks pull back amid holiday week of gains

US stocks declined, driving the Standard & Poor’s 500 Index to a smaller weekly gain, after benchmark indexes rallied to all-time highs yesterday amid optimism over the economic recovery. Despite the drop US stocks rose for a second straight week, as data from durable goods to housing and employment fueled optimism that the world’s largest […] Read more

US stocks rise on positive jobles claims data

US stocks advanced yesterday, extending gains to a sixth consecutive day as Dow Jones pushed to record highs amid positive labor market data. The S&P 500 index rose 8.70 points, or 0.5%, to 1842.02, and the Nasdaq Composite Index added 11.76 points, or 0.3%, to 4167.18. The Dow Jones Industrial Average climbed 122.33 points, or […] Read more