Washington (CNN) – The dramatic intensification of the Russia investigation on Monday reignited President Donald Trump’s fury at the controversy clouding his presidency, prompting his aides to urgently advise him against lashing out at special counsel Robert Mueller as they work to revive a halting policy agenda. Watching the developments unfold on the large television screens installed in his private […]
Sears Depletes $200 Million Loan in Latest Sign of Cash Burn Sears Holdings Corp. drew down the remaining $60 million on a $200 million loan, signaling that the struggling department-store chain is quickly running through cash. The retailer set up a revised loan on Oct. 4 and borrowed an initial $100 million, according to a […]
Gold notched a second session gain in a row Monday as the highflying dollar cooled and the yellow metal came off its sixth weekly decline in the past seven. December gold GCZ7, -0.10% tacked on $5.90, or 0.5%, to settle at $1,277.70 an ounce. Gold’s finish at $1,269.60 last Thursday was the lowest since Aug. 8, according to […]
WASHINGTON (Reuters) – General Motors Co agreed to a $13.9 million settlement with Orange County, California after prosecutors accused the Detroit automaker of intentionally concealing serious safety defects including those involving faulty ignition switches tied to nearly 400 deaths and injuries, the company said on Sunday. An Orange County superior court judge late Friday approved […]
Here’s the Shortlist of Contenders for Samsung’s CEO Post With record earnings and a share price hovering near all-time highs, Samsung Electronics Co. still has something big on its to-do list: find a new boss. Earlier this month, Kwon Oh-hyun announced plans to step down as chief executive officer and co-vice chairman, leaving the world’s biggest maker […]
Shifting to a territorial tax is the wrong move American companies have sheltered about $2.6 trillion in profits overseas to lessen their tax bill. These are the ones with the largest amounts. One of the big flaws in the U.S. corporate income tax is that it encourages companies to shift revenue, profit, operations, investment and […]
The CEO predicts there’ll be half as many bankers in 10 years Nordea says it’s leading a mass industry metamorphosis The 6,000 job cuts announced last week at Nordea Bank AB are just a down payment for an industry facing radical overhaul, says Chief Executive Officer Casper von Koskull. “If somebody says, where are we, or where […]
JPMorgan Asset Doesn’t Think Much of Taiwan’s Stock Rally Outside of megacap Taiwan Semiconductor Manufacturing Co., Taiwan’s equity universe looks increasingly unappealing to Howard Wang. Wang, who oversees JPMorgan Asset Management’s Greater China fund, has cut its Taiwan holdings to 18 percent of the total from 25 percent two years ago, even as the island’s […]
Two weeks after an initial “show of unity,” when NFL players and, in many cases, their team owners, linked arms on Sept. 24 after President Donald Trump slammed the NFL the night before, Dallas Cowboys owner Jerry Jones flipped the script. At a press conference on Sunday after the Cowboys lost to the Green Bay Packers, Jones suggested the […]
(Reuters) – Viacom Inc and Charter Communications Inc agreed on a short-term extension of their renewal deadline, a source familiar with the matter said, as the companies aim to avoid the immediate blackout of Viacom networks. If no deal is reached, 16.6 million subscribers of Charter’s Spectrum service will lose Viacom’s networks, which include Comedy […]
There’s an interesting debate going on in the markets now: Has this year’s rally in stocks been all about tax reform and the rest of the Trump trade, or is something bigger at work? The market is up big this year, so it’s worthwhile to know whether the wind is at investors’ backs or if […]
The Russian government used antivirus software from the private Russian company Kaspersky to steal classified U.S. data, according to several recent reports. The revelations, following months of vague warnings from U.S. officials, suggest that the U.S. has “direct evidence that there are ways to remote into Kaspersky and pull data back without the user’s intention,” David Kennedy, a […]
