Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Stocks hit record highs: More encouraging signs that trade talks between the U.S. and China are on track kept investors in a buying mood Tuesday, nudging the major stock indexes to record highs for the second straight day.

Retailers and other companies that rely on consumer spending helped power the modest rally, which adds to the market's solid start to the week. Only energy, banks and health care sector stocks ended with losses. Bond prices rose, sending yields lower.

Beijing said Tuesday that negotiators for both sides met earlier in the day and agreed to more talks aimed at reaching a deal. The latest development came a day after China announced new guidelines for the protection of patents and copyrights, which has been a key issue in the dispute.

Xerox threatens hostile bid for HP: Xerox Corp. on Thursday threatened to go hostile with its $33.5 billion buyout bid for HP Inc. if the personal computer maker did not agree to a "friendly" discussion before Nov. 25.

HP on Sunday rejected Xerox's offer of $22 per share, saying it undervalued the company and that it was open to exploring a bid for the U.S. printer maker.

"Xerox will take its compelling case to create superior value for our respective shareholders directly to your shareholders," the company said in a letter to HP's board.

HP, three times the size of Xerox, did not immediately respond to a request for comment.

Trump says China deal near: U.S. President Donald Trump on Tuesday said the United States was in the "final throes" in its attempt to reach a trade deal with China, but that at the same time Washington stands with protesters in Hong Kong, where it wants to see democracy.

At an Oval Office event to sign an executive order to address violence against Native American women, Trump was asked by a reporter if he had a message for the people of Hong Kong after their recent election. …

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