Welcome to moody Monday, with stock futures down and oil prices getting hit hard after a batch of downbeat data from China, alongside a surprise rate cut. Some say that the global growth engine’s econ...
Tag: Politics
Rakesh Jhunjhunwala, billionaire investor dubbed India’s Warren Buffett, dies at 62
NEW DELHI — Veteran stock market investor and Indian billionaire Rakesh Jhunjhunwala, nicknamed India’s own Warren Buffett, died Sunday in Mumbai city, Press Trust of India news agency reported. He wa...
Sinema took Wall Street money while killing tax on investors
Sen. Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party’s longtime goal of raising taxes on wealthy investors, received nearly $1 million over the past year from private equit...
House passes Inflation Reduction Act: What Democrats’ bill does for climate, drug prices and taxes
Democrats’ Inflation Reduction Act passed the House of Representatives in a 220-207 vote on Friday after clearing the Senate last weekend, and with it, some big changes could be coming to key sectors ...
Stocks Could Keep Rising If the Fed Shows Restraint
Text size As the market rebounds, speculative stocks are stirring. For proof, consider Cathie Wood’s ARK Innovation ETF, up about 40% since mid-June. David Swanson/Reuters/Alamy What bear market? Stoc...
Passage of Inflation Reduction Act gives Medicare historic new powers
A pharmacist collects medications for prescriptions at a pharmacy. Simon Dawson | Bloomberg | Getty Images Medicare is poised to renegotiate the prices of some of its most expensive drugs through a hi...
Even airline employees are having trouble finding a seat home from Europe this summer
International passengers walk through the arrivals area at Terminal 5 at Heathrow Airport on November 26, 2021 in London, England. Leon Neal | Getty Images News | Getty Images Airlines want people to ...
The Big Winners—and Losers —in the Inflation Bill
Senate Majority Leader Chuck Schumer (D-NY) helped shepherd the Inflation Reduction Act through the Senate after earlier bills died. Drew Angerer/Getty Images Text size The House won’t take up Democra...
Salman Rushdie stabbed in neck in NY attack, ‘Satanic Verses’ scribe airlifted to hospital
Author Salman Rushdie is tended to after he was attacked during a lecture, Friday, Aug. 12, 2022, at the Chautauqua Institution in Chautauqua, NY. Joshua Goodman | AP Author Salman Rushdie was attacke...
DOJ plans to retry Philip Esformes despite Trump commuting sentence
Philanthropist Philip Esformes attends the 15th annual Harold & Carole Pump Foundation gala at the Hyatt Regency Century Plaza on August 7, 2015 in Century City, California. Tiffany Rose | Getty I...
Trump faces investigations, lawsuits as he weighs White House run
Former US President Donald Trump raises his fist while walking to a vehicle outside of Trump Tower in New York City on August 10, 2022. Stringer | AFP | Getty Images As Donald Trump considers whether ...
Billionaire Mark Cuban Takes Surprise Stance on Controversial New Tax
No subject is more controversial in economic circles right now than taxes. Tensions heighten even more when the specific subject is a new tax aimed at businesses. Simply put, the business community ha...
Justice Department asks to unseal Trump raid search warrant
Attorney General Merrick Garland said the Justice Department asked a federal judge Thursday to unseal a search warrant that was used by FBI agents to raid the Florida home of former President Donald T...
CDC eases guidance as U.S. has more tools to fight the virus
A sign outside of a hospital advertises COVID-19 testing on November 19, 2021 in New York City. On Friday vaccine advisers to the US Centers for Disease Control (CDC) and Prevention voted unanimously ...
Covid Split U.S. Along Political Lines More Than Other Countries, Poll Finds
Topline The U.S. is one of the most divided countries when it comes to attitudes about the Covid-19 pandemic, according to a new Pew Research Center poll published Thursday, underscoring the political...
Stocks rally like it’s ‘mission accomplished’ — but investors urge caution as Nasdaq enters bull market
Investors might want to keep their guard up as the stock market continues its rally. “The market has kind of gone back to sleep” in appearing to think, “all right, mission accomplished, inflation’s in...
Detroit real estate developers rebuild city amid budget shortfalls
A new wave of development is rippling through downtown Detroit. “Walking around Detroit in 2008 or 2009 is not the same as walking around in 2022,” said Ramy Habib, a local entrepreneur. &...
Inflation Reduction Act EV tax credits could hurt sales
Tesla cars charge next to a traditional Texaco gas station on July 17, 2022 in Nephi, Utah. With more electric cars on the road, lack of charging infrastructure is becoming more of a problem for EV ow...
Chipotle to pay $20 million to NYC workers as part of settlement
Chipotle restaurant in New York City Scott Mlyn | CNBC New York City Mayor Eric Adams and city officials announced Tuesday that Chipotle has agreed pay about $20 million to roughly 13,000 workers for ...
On rare days, markets rise 10%. How to make sure you’re there for it
Gzorgz | Istock | Getty Images “It was the best of times, it was the worst of times.” With those classic words, author Charles Dickens famously opened his historical novel “A Tale of...
Spirit Airlines (SAVE) earnings Q2 2022
Spirit Airlines planes on the tarmac at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Spirit Airlines reported a secon...
Tesla, EV Makers Stand to Get Billions for Factories From Senate Bill
The Senate climate bill passed over the weekend offers billions of dollars for electric-vehicle and battery factories, and includes rules that the auto industry says will make it tougher for some cons...
Novavax cuts 2022 revenue guidance in half, stock tanks in after-hours trading
In this photo illustration a silhouette of a man holding a medical syringe and a vial seen displayed in front of the Novavax logo on a screen. Cezary Kowalski | Lightrocket | Getty Images Novavax deep...
Large Indiana employers Eli Lilly and Cummins speak out about the state’s new restrictive abortion law
An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. Mike Segar | Reuters Drugmaker Eli Lilly, one of the biggest emplo...
The red flag that preceded a halving of global equities in 2000 and 2007 is back, warns Citi
We are a day away from data that could prove a turning point for markets. If Wednesday’s CPI doesn’t reveal some slowing in prices, expectations will rise for a bigger Fed rate hike in September, poss...