Business


Trump restores some Cuba travel and economic restrictions, rejecting 'oppressors'

The "wet foot, dry foot" policy, which once let most Cuban migrants stay in the United States if they made it to USA soil but was terminated under Obama, will remain terminated. You have to hand it to Donald Trump: he's done a great job of taking almost every unpopular policy position available to him. The change in the US posture toward Cuba under Trump marks the latest policy about-face by the president.



Amazon to purchase Whole Foods for $13.7B, no store closures expected

The grocery store operator lost 60 cents, or 16 percent, to $3.16. The $42-per-share offer from Amazon represents a premium of 27% to Whole Foods' closing price on Thursday. Neil Saunders, managing director of the research firm Global Data Retail, said Amazon is likely to push supermarkets and grocery stores to slash prices, which will affect the companies that make and distribute those products.


Grocery store stocks plummet after Amazon-Whole Foods deal

Grocery store stocks plummet after Amazon-Whole Foods deal

Amazon agreed to pay $ 42 a share in cash for the organic-food chain, including debt. The deal unites the online juggernaut with the grocery store chain that fell behind as the organic and natural foods it helped popularize expanded to more locations and shoppers found "good enough" alternatives.



ON Semiconductor Corp (ON) Analysts See $-0.80 EPS

Cypress Semiconductor Corp now has $4.53B valuation. 4,883,854 shares of the stock traded hands. Evermore Global Advisors LLC purchased a new position in shares of MagnaChip Semiconductor Corporation during the first quarter valued at about $15,162,000.


Italian Minister: US, G-7 Far Apart on Paris Climate Deal

Italian Minister: US, G-7 Far Apart on Paris Climate Deal

French minister Nicolas Hulot said USA allies were determined not to let Trump's controversial climate stance "poison" cooperation on other ecological issues, and said the world could work around the U.S. Trump cited the negative impact of the treaty on the US auto industry, among many others. The call is included in the final statement taken unanimously at the end of the two-day meeting in the Italian city of Bologna, but without the support of the U.S.



Oil Market Rebalancing At 'Slower Pace

The world's oil glut is likely to persist next year in a blow to efforts by major producers to shore up the oil price by cutting output, according to a leading energy authority. OPEC and other producers have agreed to restrict output and cut production by 1.8 million bpd to March next year to soak surplus crude from the market.