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Tribune Media may sell businesses after posting $381M in Q4 loss
Tribune Media, which owns and operates 42 TV stations, said Monday it’s exploring “strategic and financial” options, including possibly selling businesses and assets, as losses mount and advertising...
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Costco cardholders will transfer from Amex to Citi in June
Costco cardholders will no longer be able to pay with American Express come June. That’s when a deal for American Express to sell its Costco-branded portfolio to Citibank is expected to close, and...
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Hopes of business-friendly reforms in India fade
Even as India shines as a rare bright spot in a sluggish global economy, the country’s business-savvy prime minister is watching his popularity wane. Narendra Modi swept into power in May 2014 on the...
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Valeant shares falls as CEO returns; financials delayed
Shares of Valeant Pharmaceuticals International (VRX) plunged anew on Monday, hours after the embattled drugmaker announced its chief executive is returning from illness but withdrew its financial...
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Stocks gain as oil prices rise above $33 a barrel
U.S. stocks snapped out of a morning malaise and posted moderate gains Monday as oil prices rose and global stocks fell after a meeting of G20 finance officials ended without pledges for joint action...
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Disney park prices jump 20% on these days
Walt Disney’s (DIS) theme parks in California and Florida are so popular – prepare to pay more if you go when everyone else wants to. The giant entertainment company Sunday launched “demand pricing”...
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Emirates overtakes Qantas for world’s longest flight
Emirates has bumped Qantas Airways out of the top spot for the world’s longest flight. Emirates took over the title Tuesday with the launch of its 8,819-mile nonstop route between Dubai in the United...
View ArticleLSE and Deutsche Boerse in merger talks
The London Stock Exchange on Tuesday confirmed it was in discussions to merge with Germany’s Deutsche Boerse. The LSE said in a statement that the two firms are “in detailed discussions about a...
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March starts strong as U.S. stocks rally
March came in like a bull for Wall Street Tuesday with U.S. stocks up sharply as better-than-expected news on manufacturing added fuel to a an early rally on China’s latest stimulus move. The Dow Jones...
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Apple doesn’t have to unlock drug dealer’s iPhone, judge says
A federal judge in Brooklyn on Monday denied a Department of Justice request for a court order that would force Apple to bypass the security passcode on the iPhone of a criminal defendant in a drug...
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Zuckerberg climbs Forbes billionaires list
Facebook is making people a lot of money. Facebook CEO Mark Zuckerberg climbed one spot to sixth on Forbes magazine’s 2016 list of the world’s richest people, with a net worth of $44.6 billion. Five...
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VW sales fall as diesel scandal drags on
The Volkswagen brand saw a drop of 13.2% in sales last month as it continues to reel from the inability to sell its diesel car models due to the scandal over emissions. Volkswagen of America reported...
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Carl Icahn posts worst loss since 2008
Carl Icahn, who briefly flirted with a role as Donald Trump’s Treasury Secretary, just posted his worst investment losses since the dark days of the financial crisis. The 80-year-old investor’s hedge...
View ArticleKate Spade earnings fall short of forecasts
Kate Spade & Co. (KATE) on Tuesday reported fourth-quarter net income of $61.5 million. The New York-based company said it had net income of 48 cents per share. Earnings, adjusted for non-recurring...
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Jobs Friday clashes with March Fed meeting
It’s Jobs Friday. That means the monthly Wall Street guessing game, “Will they or won’t they hike?” will kick off after the federal government lets the world know how many jobs the American economy...
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Amazon drops encryption from Fire devices
Retailing giant Amazon confirmed Friday it removed local encryption from its Kindle Fire devices, as it throws support to Apple in its fight over an encrypted iPhone. “In the fall when we released Fire...
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Stock storyline shifts from ‘worst start to year’ to not too bad
The worst start to a year ever for the U.S. stock market doesn’t seem so bad now, following a bounce-back rally that has pulled stocks close to 2% of where they began the year. The market has had a...
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27 giant profitable companies paid no taxes
Death and taxes are supposed to be two certainties of life. But a few companies have at least escaped the taxes part. There are 27 companies in the Standard & Poor’s 500, including telecom firm...
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Apple expected to pay $450M in e-book case
Apple is expected to pay $450 million after the Supreme Court on Monday refused to consider the tech giant’s appeal of a ruling that found the company conspired with five major publishers to inflate...
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Dow looks to erase 2016 nightmare on Wall Street
The Dow hasn’t done it yet, but it’s close to erasing all the red ink that drenched it at the then-worst start to a year ever. The Dow Jones industrial average — which was down and out on Feb. 11, when...
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Contraction in U.S. shale pushes oil towards $40
Crude oil prices have rallied by more than 30% since early February and investors are growing more confident that a rebound is in order. Have oil prices finally turned a corner? The sudden wave of...
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Stocks fall, ending Dow’s 5-day win streak
The Dow Jones industrial average paused Tuesday after a five-session winning streak drove the blue-chip stock gauge to its highest levels since early January. At the 4 p.m. ET close, the blue-chip Dow...
View ArticleEpic bear market preceded aging bull
Before lighting a candle on the bull market’s seventh birthday today, how about a quick glance back at what things looked like in 2009? Nobody knew at the time, but that was the day the U.S. stock...
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7-year bull makes investors $16T richer!
The bull market celebrates its seventh birthday today. Here’s the real accomplishment, though: Putting $16 trillion into the pockets of investors. Investors with the guts to ride this bull market since...
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Stocks slightly higher after one-day sell-off
On a day the Dow and Wall Street are celebrating the bull market’s seventh birthday, oil prices are rebounding and U.S. stocks were slightly higher after a down day Tuesday that snapped a five-session...
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Deutsche Bank and UBS lose tax bonus case
Britain’s top court on Wednesday ruled against Deutsche Bank and UBS in a long-running case over taxes on bonuses that has opened the door to back taxes by the banks and which could ding other...
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Qatar Airways announces new world’s longest flight
Qatar Airways formally announced plans for nonstop service between Doha, Qatar, and Auckland, New Zealand. The route would become the world’s longest when it launches Dec. 3, based on current...
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Judge tosses lawsuits against BP over drilling ban
In a decision that likely saves oil company BP billions of dollars, a federal district judge has dismissed hundreds of claims for losses because the government shut down deepwater drilling after BP’s...
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ECB effect: Dow, S&P 500 flat as Nasdaq slips 0.3%
U.S. stocks gave up early gains Thursday as investors digested an array of fresh stimulus measures from the European Central Bank designed to combat weak growth and low inflation but questioned whether...
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Nasdaq to acquire options exchange operator ISE for $1.1B
Nasdaq (NDAQ) has agreed to a $1.1 billion acquisition of International Securities Exchange, the Deutsche Börse Group-owned operator of three electronic options exchanges, the U.S. financial trading...
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Iran slowly increasing its oil market share
Iran is expected to raise the April Official Selling Price (OSP) of its flagship light crude oil to Asia to 25 cents above the Saudi’s similarly graded Arab light. This is the highest premium since...
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2016′s winner might shock you
Wall Street appears to have regained its mojo, with stocks in one month going from the brink of a bear market to their highest point this year. But that’s not where the real action is. Oil, which had...
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Deutsche Bank cuts bonuses 17%, cites ‘challenging’ times
Deutsche Bank cut bonuses 17% last year, citing a “challenging” 2015. The bank also warned that 2016 is off to a rocky start due to continued financial volatility. The German bank said its bonus pool...
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Apple-FBI duel is playing big at SXSW
From President Obama’s answer to a question on the topic following his keynote speech Friday, to an excoriated rebuke from U.S. Rep. Darrell Issa (R-Calif.) today, the privacy-vs.-national security...
View ArticleChina takes control of global silver prices
China has been an unofficial price-setter for most metals over the past decade. And this week, the country became an official participant in setting prices for one of the world’s most important...
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Hotel battle heats up: China’s Anbang raises offer for Starwood to $13.9B
The jockeying for Starwood Hotels & Resorts Worldwide continues. A group of investors, led by Chinese insurer Anbang, has raised its offer to buy the hotel operator to about $13.9 billion — or...
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Is Microsoft in the Yahoo bidding hunt?
Microsoft (MSFT) is in preliminary talks with private equity firms about helping finance a bid to buy embattled Internet company Yahoo (YHOO), according to media reports. Private equity executives...
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Stock headwinds persist despite rebound from tough start
A quick glance at the year-to-date performance of the Dow (+0.5%) and S&P 500 (-0.4%) camouflages what had been the worst-ever start to a year for stocks. But with Wall Street’s first-quarter...
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Stocks close slightly higher; Dow, S&P up 0.1%
Wall Street kicked off the new week with very modest gains as investors brace for a slew of economic reports, including a key jobs report Friday, that could shed fresh light on the health of the...
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Amazon Echo turns into a sleeper hit, offsetting Fire’s failure
The Amazon Echo is turning out to be a sleeper hit. The stand-alone, voice-activated digital assistant is on back order, it was cited when premium speaker maker Sonos announced layoffs and it appears...
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Workers, firms differ on $15 minimum wage
A plan to increase California’s minimum wage to $15 an hour by 2022 has opened the biggest fault lines yet between advocates of higher pay and critics who say it kills jobs and raises prices for...
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FBI hacks into terrorist’s iPhone without Apple
Although the government officially withdrew from its battle against Apple Monday, many observers sense the tech privacy war is just getting started. “This lawsuit may be over, but the Constitutional...
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Consumer spending posts scant Feb. increase, personal income growth slows
U.S. consumer spending posted a tiny gain for the third straight month in February while income growth slowed sharply. Consumer spending edged up 0.1% in February, matching similar lackluster gains in...
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Yellen’s speech in New York pulls stocks out of early dive
The Dow Jones industrial average and Standard & Poor’s 500 index both closed at 2016 highs Tuesday after Federal Reserve Chair Janet Yellen pulled stocks out of an early slump when she said the...
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SunEdison shares tumble 55% on bankruptcy filing fears
Shares of renewable power firm SunEdison plummeted 55% Tuesday as it teetered on the edge of bankruptcy amid slumping oil prices and swirling questions over the company’s accounting practices....
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Yellen: Fed to move ‘cautiously’ on rate hikes
Federal Reserve Chair Janet Yellen said Tuesday the central bank will move cautiously as it weighs interest rate hikes in light of a weak global economy and stubbornly low inflation, raising questions...
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Stocks close slightly higher; Dow, S&P up 0.1%
Wall Street kicked off the new week with very modest gains as investors brace for a slew of economic reports, including a key jobs report Friday, that could shed fresh light on the health of the...
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Battle over big energy infrastructure heats up
Building electric power lines across long distances and state boundaries can be a daunting task for developers, as the best-laid plans can go awry over local opposition. That was the case for an...
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Why more and more in U.S. are returning to work
Hundreds of thousands of Americans are streaming back into an improving labor market as employers raise wages and hire less skilled job candidates to cope with an intensifying worker shortage. The...
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Avon escapes board makeover, cuts deal with hedge fund
Wilting beauty products company Avon Products said an investor group led by Barington Capital has agreed to withdraw its bid to elect two opposing candidates to the company’s board in May. In exchange,...
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