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Technology sales help reduce inventories
A drop in tech companies helped reduce US inventories on Monday, ending a five-day winning streak for the market.
The sale took place when it was thought that the Trump administration was preparing to impose tariffs on 200 billion dollars of Chinese goods. Both governments have already imposed tariffs of $ 25 billion on goods of $ 50 billion, and another set of tariffs would represent a significant escalation of the trade dispute between the two largest economies in the world.
Investors took advantage of the prospect of a deeper trade dispute between the United States and China to take profits, especially in technology stocks, the biggest winners of the market this year.
The S & P 500 index fell 16.18 points, or 0.6%, to 2,888.80. The Dow Jones Industrial Average lost 92.55 points, or 0.4%, to 26,062.12.
The highly technical Nasdaq composite dropped 114.25 points, or 1.4%, to 7,895.79. The Russell 2000 Small Business Index fell 18.17 points, or 1.1%, to 1,703.55.
Tyson Foods CEO Retires
SPRINGDALE, Arkansas – Tyson Foods, one of the world's largest meat producers and a major Charleston port customer, announced Monday that its president and chief executive, Tom Hayes, will step down at the end of the month. of September. "
Tyson's board of directors said its beef, pork and international group president, Noel White, will succeed Hayes.
Gary Mickelson, spokesman for Tyson, did not specify the resignation of Mr. Hayes, but said: "There is no problem of personal conduct or integrity."
Hayes joined Tyson in 2014 with the acquisition of The Hillshire Brand Company, where he was responsible for the supply chain. In 2016, Hayes was named the first president and then CEO of the Springdale Company in Arkansas.
Wall St. wages continue to climb
ALBANY, NY – Wall Street wages rose last year to their highest level since the 2008 financial crisis, according to a report released Monday by New York State Comptroller Thomas DiNapoli. .
The report sets the average salary for the New York City securities industry in 2017 at $ 422,500, an increase of 13% over the previous year, the highest since 2008.
Overall, Wall Street recorded pre-tax profits of $ 24.5 billion in 2017, up 42% from 2016. Earnings for the first half of 2018 amounted to 13%. , $ 7 billion, up 11% over the same period last year.
Securities sector jobs have the highest average salary of all occupations in the city. They represent 21% of all private sector salaries in the city, but represent less than 5% of all private sector jobs.
Amazon demands bribes
NEW YORK – Amazon says it is investigating reports that its employees could have taken bribes from vendors on its site.
The Wall Street Journal, citing unnamed sources, reported that some Amazon employees had made payments ranging from $ 80 to $ 2,000 to provide internal sales indicators to independent sellers or remove negative reviews.
A representative from Amazon.com Inc. said on Monday that the company had strict policies in place for its employees and vendors, and said those who violated them could be fired, shut down or Subject of legal proceedings.
The newspaper reported that the practice is "particularly pronounced" in China.
Hard Start MoviePass
NEW YORK – A Turkish start-up is offering a movie a day in theaters for $ 30 a month.
That's three times what MoviePass had charged for a similar plan. But it was financially unsustainable, because it usually had to pay the price of the full ticket to the cinemas. MoviePass now only offers three movies for $ 10 a month and limits the titles that can be watched each day.
Sinemia says she can do better at $ 30 after testing in Europe. The plan does not limit what people can watch, but excludes premium views such as 3D and Imax.
The company offers cheaper packages with fewer movies, including premium screenings.
Users may have to pay a per-movie fee charged by online ticketing services. It is not clear that new users can still buy directly on theaters.
The oldest firm of nuke firm
LACEY TOWNSHIP, New Jersey – The oldest US nuclear power plant has been shut down as planned.
Officials at the Oyster Creek nuclear facility in New Jersey said the plant had been disconnected Monday noon. Oyster Creek went online on December 1, 1969, the same day as the Nine Mile Point Nuclear Generating Station near Oswego, New York.
But the original Oyster Creek license was first granted, making it technically the country's oldest commercial nuclear power reactor still in operation.
The Lacey Township plant, near the Jersey Shore, has been facing corrosion and leakage issues during its service, but its owner, Chicago-based Exelon Corp., says the factory has always been safe.
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