NYSE blames botched software upgrade for outage
The New York Stock Exchange said a Tuesday night software upgrade caused a nearly four hour outage as traders struggled to connect to the upgraded system. By 11:32 a.m. unusual behavior prompted a floor trading halt and order cancellations, with trading restored by 3:10 p.m. after restarting systems and shifting to backup units at Mahwah data center.
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New York Stock Exchange
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NYSE
Stock Exchange
Mahwah
N.J
Coty Buys P&G Beauty, Faces Tough Reception
Coty agreed to acquire Procter & Gamble's beauty unit for 12.5 billion dollars, but market reaction is negative as Coty stock falls 4.7 percent to 30.04 while P&G shares dip 0.4 percent to 80.66. The deal positions Coty as a major cosmetics player behind Estee Lauder and LOréal.
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Procter & Gamble
Clairol
Wella
Estee Lauder
Loreal
Alcoa Misses on Q2 Profit as Revenue Rises
Alcoa reports adjusted quarterly profit of 19 cents a share versus 22 expected, with revenue of 5.9 billion dollars. Shares drop 56 cents to 10.50 as investors digest the softer earnings. Jobless claims rise to 297,000 for the week ending July 4, the highest since February yet still under 300,000 for 18 straight weeks.
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ALCOA
Wall Street
S&p Capital Q
Labor Department
Greece faces pivotal Sunday debt talks and eurozone fate
Greek lawmakers await a Sunday response from European creditors on a debt restructuring. Wilbur Ross predicts a deal likely involving postponed deadlines and lower interest, with Greek reforms on taxes and pensions, the latter being the hardest hurdle due to pensions comprising 18 percent of the economy.
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Greece
Wilbur Ross
Eurobank
Europe
Ireland
Chinese stocks rebound as government boosts market support
Beijing markets turn positive after measures to shore up shares. Shanghai Composite rises 5.8 percent to 3709.33, CSI300 up 6.4 percent to 3897.63, Shenzhen Composite up 3.76 percent to 1955.35. Analysts warn gains may be temporary and warn against short sellers.
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Shanghai
China
Shenzhen
Daniel Zheng
Zheng
Securities Regulatory Commission
CSRC
Ministry of Public Security
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