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Showing posts from February 21, 2018

POST MARKET WRAPPER

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U.S. Stocks Give Back Gains as Bond Yields Spike After FOMC Minutes 4:01 PM ET, 02/21/2018 - MT Newswires 04:01 PM EST, 02/21/2018 (MT Newswires) -- Wall Street melted away its rally on Wednesday afternoon, with the Dow Jones Industrial Average and the Standard & Poor's 500 turning into the red late in the session as Treasury bond yields spiked and a U.S. dollar measure traded higher in the wake of minutes from the Federal Open Market Committee's January meeting. While stocks initially spiked on the FOMC's optimistic economic comments, the gains were eroded as inflation concerns emerged. The S&P's sectors posted a mixed performance. US STOCKS SNAPSHOT-Wall St gives up gains as Treasury yields climb 4:04 PM ET, 02/21/2018 - Reuters NEW YORK, Feb 21 (Reuters) - U.S. stocks closed lower on Wednesday in a rocky session after the release of the minutes from the Federal Reserve's January meeting pushed yields on the benchmark 10-year U.S. Treasury not...
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Facebook climbdown: ‘Arrogant’ social media giant loses mountaineer battle.A small climbing enthusiast website called ‘Climbook’ has won its copyright battle against Facebook after Italy’s Ministry of Economic Development ruled that Mark Zuckerberg does not have exclusive use of the word ‘book.’ The tech giant initiated a complaint about the not-for-profit community site in 2015, arguing that it was too similar in its “structural, visual, phonetic, and conceptual” design, and that the services it offered were “partly similar” to those provided by Facebook, which could confuse users. The patent office of Italy’s Ministry of Economic Development ruled it is “highly improbable” that users would get mixed up between the two brands and the site could continue to exist under the same name. Climbook is a site built around the climbing community, launched in 2013 by Italian mountain guide Alessandro Lamberti, according to its Facebook page. It provides details of climbing routes all over the world for free-climbing enthusiasts. In a statement responding to the Ministry’s decision, the group mused over why a community of climbers without advertising, with a name that ends in ‘book’ disturbed the tech giant. “Perhaps it was the arrogance of the powerful or perhaps just routine, but the fact is that this time the giant must lower his head and we can keep our CLIMBOOK.” It deemed the notion that social media users would confuse the word ‘climb’ with ‘face’ as absurd. “That is, dear users and visitors of Climbook, telling us that we are all stoned and we can confuse CLIMB with FACE,” the statement said.

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