American Business News for 24 Feb 2018
The Chinese government just took control of the Waldorf Astoria -- but it doesn't seem to be interested in revamping the lobby or improving the room service. Industry insiders say Beijing looks eager... to unload the Park Avenue landmark after seizing it on Friday from Anbang, a free-spending insurance conglomerate, whose chairman Wu Xiaohui is...
Our panelists see upward pressure on crude prices. Eight intriguing picks in the oil patch, including three MLPs.
The biggest riddle on Wall Street is about the man in the middle of it. Investors on Friday scrambled to interpret the first major report issued by Jerome Powell, the new head of the Federal Reserve... -- and how high the central bank honcho will hike the cost of borrowing money. Specifically, investors want to...
60.3% of cryptocurrency holders see cryptocurrency volatility as the most important barrier of using cryptocurrencies in everyday transactions.
Investors should be looking at earnings growth stories like Ping An, Haier, and Jiangsu Hengrui.
More signs of economic hardship raise the odds that the country's oil output will drop further
Companies being urged to cut ties with the gun rights group, advocating a NRA boycott. Veuer's Nick Cardona has that story.
Stephen Calk is in the national media glare because his small Chicago-based bank made two enormous loans to Paul Manafort, President Trump's onetime campaign manager and a key figure in the... investigation into Russian meddling in the 2016 election. Here's a look at his career and how he ended up in this spot.
Carl Court/Getty Images Former London mayor Ken Livingstone may rejoin the Labour Party as a full member following his two-year suspension, The Observer reported on Saturday. The newspaper said that... sources inside the Labour party told it that no further action will be taken against Livingstone unless any new allegations or evidence comes to light. That would leave Livingstone free to rejoin the party as a full member.See the rest of the story at Business Insider NOW WATCH: How to make America great -- according to one of the three cofounders of Black Lives Matter See Also: The 50 best places to live in America Parkland shooting survivor's family shops doctored emails with CNN to media outlets What Americans spend on an engagement ring in each state, ranked from lowest to highest
Investor Warren Buffett says the acquisition frenzy on Wall Street is making it hard for him to find deals at the right price, but his Berkshire Hathaway conglomerate recorded a …
AP Images Wall Street banks are coming off a strong year in 2017, and their company boards are rewarding the chief executives with fat pay raises. Despite a lousy year in trading beset by record-low... volatility, each of the big banks — buoyed by strong performance in their investment banking, wealth management, and retail banking operations — posted strong adjusted earnings that beat analyst expectations. With bonus season now out of the wayfor the rest of bank employees, the CEOs have now been awarded their pay packages. And given the strong overall performance last year, they're quite generous. Citigroup CEO Michael Corbat saw his total compensation increase 48% to $23 million, the bank announced in a regulatory filing with the Securities and Exchange Commission Friday. Citi stock...
Recently filed federal charges against Paul Manafort could pose legal and regulatory risks for the banks that loaned him millions of dollars against his N.Y. real estate
Andrew Burton/Getty Images Stocks actually have a "weak and inconsistent correlation" with interest rates, according to Bank of America Merrill Lynch strategists. They've been receiving lots of... questions from clients following the market correction that was partly driven by fears of higher rates. Returns stay positive until interest rates cross 6%, and the probability of losses starts to increase as rates rise above 3%, BAML found. Strategists at Bank of America Merrill Lynch say they have been fielding a lot of questions about the impact of interest rates on stocks. Clients have likely grown more curious because of the market's recent correction, which was partially blamed on the fear of interest rates rising.See the rest of the story at Business Insider NOW WATCH: Jim Chanos says Elon...
Berkshire Hathaway's fourth-quarter profit more than quadrupled as it received a $29 billion boost from the new tax law that easily offset any weakness in the company's businesses. Berkshire said …
Getty Images / Spencer Platt BlackRock raised its outlook on US stocks to overweight from neutral, citing the positive effect of fiscal stimulus on earnings growth. The firm notes the ratio of upward... profit revisions for US companies relative to downward ones is the highest since 1988. On the heels of the stock market's first 10% correction in two years, BlackRock has turned positive on US equities. Enticed by the earnings growth that should result from tax cuts, the $6.3 trillion investment firm raised its outlook on US stocks to overweight from neutral.See the rest of the story at Business Insider NOW WATCH: Microsoft President Brad Smith says the US shouldn't get 'too isolationist' See Also: The implosion of a wildly popular trade was actually a good thing, Morgan Stanley's US equity...
One core aspect of successfully running a business is keeping staff happy and motivated so that they continue to perform at effective levels.
Thank you, President Trump? Warren Buffet says Berkshire Hathaway's 23% gain in book value is mostly due to the new tax code.
Boutique hotels and vetted listings are just two of the first steps to turning Airbnb into a travel company for everyone.
If you're worried inflation will sideswipe your portfolio, well, you have good reason to be.
They didn't even offer it a decade ago. Now you probably can't imagine traveling without it.
Design thinking has its visual elements, its roots are more pragmatic than aesthetic. At its core, design thinking is the radical, yet intuitive, practice of considering people's behaviors, tastes,... and interests -- the totality of their experience -- when creating products, spaces, and activations.
Associated Press/Brynn Anderson A mass shooting that killed 17 people at a Florida high school has spurred a growing number of calls for companies to cut ties with the National Rifle Association... (NRA). A number of retailers still offer perks to NRA members. These discounts help retain NRA members, according to Boycott NRA Partners. On February 14, gunman Nikolas Cruz allegedlykilled 17 people atMarjory Stoneman Douglas High School in Parkland, Florida. The shooting swiftly reinvigorated a national debate on gun control, with the teenage survivors leading the charge on demands for reform. Some of the backlash has centered on theNational Rifle Association (NRA), an organization that promotes gun rights in the United States. As multiple news outlets have noted, the NRA has become a strong...
The drop in the 10-year Treasury yield by about 0.05 percentage point Friday, to 2.87%, provided support to stocks.
Speculation about the big position varies from a bet on the Italian election to trouble in China. Or maybe it's just a move to unwind a swap.
Investors worries over rising interest rates triggered an outflow from junk-bond ETFs that has subsided, at least for now. What's next?