(Reuters) - U.S. stocks fell on Monday as an increase in tensions between Western powers and Saudi Arabia added to worries over rising borrowing costs and the impact of tariffs, following the main three indexes’ biggest weekly declines in over seven months. Traders work on the floor of the New York Stock Exchange (NYSE) in…
Sears filed for Chapter 11 bankruptcy early Monday morning after a multiyear battle to stay afloat amid steep declines in sales and customer traffic. The company said that it would close 142 stores before the end of the year and that Eddie Lampert would step down as CEO while remaining the company's chairman. The more…
Enlarge / Oil platform in the Gulf of Mexico. There are nearly 5,000 functioning oil platforms in the Gulf of Mexico and 27,000 abandoned wells. This week, New Jersey's attorney general sued the US Department of the Interior (DOI) for failing to comply with a Freedom of Information Act (FOIA) request seeking more information about…
Goldman Sachs, which lacked the inroads into Saudi Arabia that other banks had, sent its co-president, Harvey M. Schwartz, along with the head of its Middle East and North Africa business. Endeavor, the Beverly Hills holding company for entertainment agencies, sent its co-chief executive, Ariel Emanuel, to help push along negotiations for a Saudi investment.…
Behold, America: The Entangled History of “America First” and “the American Dream”. By Sarah Churchwell. Basic Books; 368 pages; $19.99. Bloomsbury; £20. Get our daily newsletterUpgrade your inbox and get our Daily Dispatch and Editor's Picks. IT IS common for historians to examine the actions of great men. Sarah Churchwell, a professor of American literature…
PHILADELPHIA — One morning last year, Michele Carter woke up to find an eviction notice slipped under her apartment door. She had to move, she was later told, to make way for the renovation of her high-rise and the higher-paying tenants it would bring. Ms. Carter, 66, an Air Force veteran who lives on a…
JPMorgan’s third-quarter earnings report offered both a bang and a whimper. The whimper echoed louder in the ears of investors. The bang: JPMorgan’s revenue rose 5.2% to $27.8 billion, beating analyst expectations by $380 million. Earnings came in at $2.34 a share, again beating forecasts by eight cents. For a few glorious moments, investors cheered…
Brendan McDermid/Reuters Stocks staged a recovery early on Friday following tame inflation data. The Dow Jones industrial average fell more than a thousand points between Tuesday and Thursday. Watch US indexes trade in real time here. Following the worst couple of days on Wall Street since February, stocks staged a recovery on Friday amid signs…
But the volume of public commentary greatly diminished in recent decades as politicians concluded that pressuring the Fed was counterproductive. The administrations of Presidents Bill Clinton, George W. Bush and Barack Obama all made a policy of silence on monetary policy. Krishna Guha, the head of the central bank strategy team at Evercore ISI, said…
Billionaires have won big in the long-running bull market that may be teetering on the edge of ending. But they’re also set to lose big. Over the past week, the world’s wealthiest have collectively dropped about $50 billion in estimated net worth. What’s $50 billion among the world’s uber-rich? Enough to leave a mark, that’s…
