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NEW YORK (AP) _ Scholastic Corp. (SCHL) on Thursday reported a loss of $63.7 million in its fiscal first quarter. On a per-share basis, the New York-based company said it had a loss of $1.81. Losses, adjusted for
A sharp selloff in tech stocks and a hawkish Federal Reserve teamed up on Thursday, Sept. 21, to drag markets from recent record highs. The Dow Jones Industrial Average fell 0.11%, the S&P 500 fell 0.17%, and the Nasdaq slid 0.36%. The Dow and S&P 500 closed at records a day earlier -- the Dow for the seventh day in a row and the S&P 500 for its fourth.
Enbridge Inc. may sell 60-year bonds potentially as early as this week, following in the footsteps of fellow Canadian pipeline giant TransCanada Corp. The pipeline operator is finishing calls with investors today about a potential sale, according to people familiar with the matter, who are not authorized to speak publicly and asked not to be identified. The sale, whose size may reach C$1 billion according to Fitch Ratings Inc., will be led by BMO Capital Markets, RBC Capital Markets and TD Securities. Enbridge seeks to offer fixed-to-floating rate subordinated notes due September 2077 that could be automatically converted into preference shares in case of bankruptcy, according to a prospectus it filed yesterday.