People wear masks to protect themselves from the coronavirus disease (COVID-19) while listening to the annual general meeting at the lobby of Foxconn's office in Taipei, Taiwan, June 23, 2020. REUTERS/Ann Wang GLOBAL BUSINESS WEEK AHEADRegister now for FREE unlimited access to Reuters.comWASHINGTON, April 20 (Reuters) - Taiwan electronics manufacturer Foxconn is drastically scaling back a planned $10 billion factory in Wisconsin, confirming its retreat from a project that former U.S. President Donald Trump once called “the eighth wonder of the world.”Under a deal with the state of Wisconsin...…People wear masks to protect themselves from the coronavirus disease (COVID-19) while listening to the annual general meeting at the lobby of Foxconn's office in Taipei, Taiwan, June 23, 2020. REUTERS/Ann Wang GLOBAL BUSINESS WEEK AHEADRegister now for FREE unlimited access to Reuters.comWASHINGTON, April 20 (Reuters) - Taiwan electronics manufacturer Foxconn is drastically scaling back a planned $10 billion factory in Wisconsin, confirming its retreat from a project that former U.S. President Donald Trump once called “the eighth wonder of the world.”Under a deal with the state of Wisconsin...WW…

By , (Reuters) - The S&P 500 and the Dow closed at all-time highs on Thursday as worries about rising inflation subsided, while a bigger-than-expected fall in weekly jobless claims and the signing of a massive stimulus bill reinforced expectations of a strong economic recovery.Mega-cap stocks Microsoft Corp, Apple Inc, Facebook Inc and Amazon.com Inc led the rally, recouping losses from a recent pullback and helping the benchmark S&P 500 surpass its Feb. 12 close of 3,934.83.The blue-chip Dow scaled a new record for the fourth straight session, while the tech-heavy Nasdaq is now...…By , (Reuters) - The S&P 500 and the Dow closed at all-time highs on Thursday as worries about rising inflation subsided, while a bigger-than-expected fall in weekly jobless claims and the signing of a massive stimulus bill reinforced expectations of a strong economic recovery.Mega-cap stocks Microsoft Corp, Apple Inc, Facebook Inc and Amazon.com Inc led the rally, recouping losses from a recent pullback and helping the benchmark S&P 500 surpass its Feb. 12 close of 3,934.83.The blue-chip Dow scaled a new record for the fourth straight session, while the tech-heavy Nasdaq is now...WW…

By , (Reuters) -The S&P 500 ended lower on Monday, weighed down by Walt Disney, while Alexion Pharmaceuticals jumped on a $39 billion buyout offer from AstraZeneca in one of the year’s biggest deals.The Dow Jones Industrial Average hit a record high before ending lower, pulled down by Walt Disney.U.S. officials began to administer the vaccine developed by Pfizer and its German partner BioNTech on Monday following emergency-use approval from federal regulators last week.Shares of Disney, down 3.65%, and Pfizer, down almost 5%, weighed more than any other stocks on the S&P 500.The...…By , (Reuters) -The S&P 500 ended lower on Monday, weighed down by Walt Disney, while Alexion Pharmaceuticals jumped on a $39 billion buyout offer from AstraZeneca in one of the year’s biggest deals.The Dow Jones Industrial Average hit a record high before ending lower, pulled down by Walt Disney.U.S. officials began to administer the vaccine developed by Pfizer and its German partner BioNTech on Monday following emergency-use approval from federal regulators last week.Shares of Disney, down 3.65%, and Pfizer, down almost 5%, weighed more than any other stocks on the S&P 500.The...WW…

By CHICAGO (Reuters) - Illinois is scheduled to sell $850 million of bonds on Tuesday as investors demand fatter yields for the state’s debt due to increased worries over its deep financial woes, which were exacerbated by the coronavirus pandemic.Ahead of the competitive sale of general obligation bonds due over the next 25 years, the spread for Illinois 10-year bonds over Municipal Market Data’s benchmark triple-A yield scale has widened by 10 basis points to 281 basis points since Oct. 1.Howard Cure, director of municipal bond research at Evercore Wealth Management, pointed to “a...…By CHICAGO (Reuters) - Illinois is scheduled to sell $850 million of bonds on Tuesday as investors demand fatter yields for the state’s debt due to increased worries over its deep financial woes, which were exacerbated by the coronavirus pandemic.Ahead of the competitive sale of general obligation bonds due over the next 25 years, the spread for Illinois 10-year bonds over Municipal Market Data’s benchmark triple-A yield scale has widened by 10 basis points to 281 basis points since Oct. 1.Howard Cure, director of municipal bond research at Evercore Wealth Management, pointed to “a...WW…

By (Reuters) - Five members of U.S. Congress from New York said on Wednesday that several investment firms involved in Puerto Rico’s ongoing bankruptcy may have engaged in insider trading and urged the state attorney general to investigate.In a letter to New York Attorney General Letitia James, the lawmakers cited allegations arising from the island’s bankruptcy litigation “that some hedge fund groups may have been engaging in insider trading and using the PROMESA restructuring process to artificially manipulate bond markets.”Using the 2016 PROMESA Act, Puerto Rico’s federally created...…By (Reuters) - Five members of U.S. Congress from New York said on Wednesday that several investment firms involved in Puerto Rico’s ongoing bankruptcy may have engaged in insider trading and urged the state attorney general to investigate.In a letter to New York Attorney General Letitia James, the lawmakers cited allegations arising from the island’s bankruptcy litigation “that some hedge fund groups may have been engaging in insider trading and using the PROMESA restructuring process to artificially manipulate bond markets.”Using the 2016 PROMESA Act, Puerto Rico’s federally created...WW…