Business Highlights
NEW YORK (AP) — U.S. stocks resumed their climb Monday as investors bought stocks that stand to benefit from economic growth, like banks, as well as technology companies, which have been mostly left out of a post-election rally.
The Institute for Supply Management, a trade organization of purchasing managers, said Monday that its services index reached 57.2 in November, up from 54.8 in October and the highest level since October 2015.
MILAN (AP) — Italian voters dealt Premier Matteo Renzi a resounding rebuke by rejecting his proposed constitutional reforms, plunging Europe's fourth-largest economy into political and economic uncertainty Monday.
Renzi announced he would quit following Sunday's referendum vote, in which 60 percent of voters rejected his proposals and signaled they wanted a change in political direction.
The unexpectedly large margin of defeat with a robust voter turnout appeared to rule out any chance that Renzi would be offered another shot at forming a government.
The meat company said it will make $150 million available for Tyson New Ventures LLC, which it said would complement Tyson's continued investment in fresh meat, poultry and prepared foods.
The venture fund's first investment is a 5 percent ownership stake in Beyond Meat, a California-based company that makes "plant-based protein."
HONG KONG (AP) — Trading began Monday on a new cross-border stock link between Hong Kong and the neighboring Chinese city of Shenzhen, widening access to China's markets for global investors.
The long-awaited Shenzhen-Hong Kong Stock Connect link allows international investors to buy and sell 880 high-growth small and midcap stocks traded on the exchange in the southern boomtown of Shenzhen via the Hong Kong exchange.
NEW YORK (AP) — In bid to fight art fraud, Sotheby's announced Monday that it had purchased a forensics firm whose founder once helped the auction house belatedly identify a $10 mill