Top Business News provided by CBS Marketwatch©
- Personal Finance Daily: What most women don’t do at work and why you shouldn’t buy a Powerball ticketFriday's top personal finance stories
- Market Extra: 7 signs the stock market is ready to run smack into a wall The stock market’s relentless rally to records may be facing its fiercest test of late.
- Bond Report: Treasury yields struggle for direction in volatile weekTreasury yields climb back into positive territory on Wednesday afternoon trade after reports that President Donald Trump had forced out Steve Bannon as White House chief strategist.
- Key Words: Bannon’s job was to be the Karl Rove, the Valerie Jarrett of the Trump White House: Commentary writerNoah Rothman’s explains Steve Bannon’s import to the Trump White House, via comparison to similarly placed top advisers in the George W. Bush and Barack Obama administrations.
- NewsWatch: 7 signs the stock market is ready to run smack into a wallThe stock market’s relentless rally to records may be facing its fiercest test of late.
- Market Extra: How China reclaimed its title as largest holder of TreasurysChina’s efforts to stabilize its currency are finally paying off, with the country once again the U.S.’s biggest creditor.
- Market Extra: Breakdown between Dow, S&P 500 and GE sends an ominous stock-market signalA bearish breakdown is playing out between the broader U.S. equity benchmarks and General Electric, a key component of the Dow and one of the most storied U.S. companies.
- Market Snapshot: Stocks end lower; Dow, S&P 500 book 2nd weekly loss in a row and Nasdaq logs 4thU.S. stock benchmarks close firmly lower on Friday to register another unsightly week of losses as low volumes and skittish investors leave Wall Street especially vulnerable to pullbacks.
- The Ratings Game: Foot Locker shares plunge 28% as brands like Nike and Adidas go direct-to-consumerFoot Locker shares tumbled more than 26% after the retailer reported disappointing earnings amid a shift to online and direct-to-consumer channels
- Trump Today: Trump Today: President rips ‘obstructionist Democrats’ but is silent on Bannon departure President Donald Trump on Friday accused Democrats of obstructionism on security matters and elevated the status of the U.S. Cyber Command, but was silent on the departure of his chief strategist, Steve Bannon, as the White House said it was his last day on the job.
Friday's top personal finance stories
The stock market’s relentless rally to records may be facing its fiercest test of late.
Treasury yields climb back into positive territory on Wednesday afternoon trade after reports that President Donald Trump had forced out Steve Bannon as White House chief strategist.
Noah Rothman’s explains Steve Bannon’s import to the Trump White House, via comparison to similarly placed top advisers in the George W. Bush and Barack Obama administrations.
The stock market’s relentless rally to records may be facing its fiercest test of late.
China’s efforts to stabilize its currency are finally paying off, with the country once again the U.S.’s biggest creditor.
A bearish breakdown is playing out between the broader U.S. equity benchmarks and General Electric, a key component of the Dow and one of the most storied U.S. companies.
U.S. stock benchmarks close firmly lower on Friday to register another unsightly week of losses as low volumes and skittish investors leave Wall Street especially vulnerable to pullbacks.
Foot Locker shares tumbled more than 26% after the retailer reported disappointing earnings amid a shift to online and direct-to-consumer channels
President Donald Trump on Friday accused Democrats of obstructionism on security matters and elevated the status of the U.S. Cyber Command, but was silent on the departure of his chief strategist, Steve Bannon, as the White House said it was his last day on the job.
Reuters©
- Wall Street ends down after more White House turmoilNEW YORK (Reuters) - U.S. stocks lost ground late to end lower on Friday following a White House-focused week that raised more questions about the Trump administration's ability to implement its pro-growth agenda.
- Summer rumblings could herald a stormy fall for U.S. stocksNEW YORK (Reuters) - The Trump-fed rally in stocks, lately showing signs of faltering as the long Wall Street summer nears its end, faces a key test in the weeks ahead with the approach of a historically unkind season for equities and a clutch of issues - such as raising the debt ceiling - awaiting the return of lawmakers to Washington.
- NAFTA negotiators hone in on origin rules, dispute settlementWASHINGTON (Reuters) - U.S., Canadian and Mexican negotiators on Friday began digging into some of the thorniest issues in modernizing the North American Free Trade Agreement, including rules of origin for goods produced in the region, services trade and a controversial dispute settlement system.
- Stability concerns focus at Fed ahead of Yellen speechWASHINGTON (Reuters) - The stock market's steady rise, still low long-term bond yields and a sagging dollar are girding the Fed's intent to raise interest rates again this year despite concerns about weak inflation, according to comments this week from Fed officials and analysts anticipating remarks next week by Chair Janet Yellen.
- Elliott Management lawyer says utility may top Buffett's Oncor bid(Reuters) - A lawyer for Elliott Management Corp told a U.S. bankruptcy judge on Friday that an unidentified utility could pay $9.3 billion to buy Texas power transmission company Oncor Electric Delivery Co, topping Berkshire Hathaway Inc's $9 billion bid.
- U.S. prosecutors recommend three years in prison for VW engineer LiangDETROIT (Reuters) - Federal prosecutors on Friday recommended a three-year prison sentence for Volkswagen AG engineer James Liang for his role in a diesel emissions scandal that has cost the German automaker as much as $25 billion.
- Exclusive: Citigroup tops bank group for Petrobras unit IPO - sourceSAO PAULO (Reuters) - Citigroup Inc and seven other banks will underwrite the initial public offering of Petróleo Brasileiro SA's fuel distribution unit, which will likely occur in November, a person with direct knowledge of the plan said.
- Former UAW official charged in Fiat Chrysler payoff probe(Reuters) - A former senior official at the United Auto Workers trade union was charged on Friday with conspiring with other union officials to accept improper payments from Fiat Chrysler Automobiles NV officials over a four-year period.
- N.Y. Fed raises U.S. third-quarter GDP growth view above two percentNEW YORK (Reuters) - The New York Federal Reserve on Friday raised its estimate of U.S. gross domestic product growth for the third quarter above 2 percent based on this week's data on retail sales, industrial output and regional manufacturing.
- Platinum founder's lawyers ordered not to contact U.S. government witnessesNEW YORK (Reuters) - A U.S. judge on Friday ordered lawyers defending Platinum Partners founder Mark Nordlicht in a $1 billion fraud case not to communicate with U.S. government witnesses or their lawyers, after prosecutors claimed Nordlicht's lawyers tried to intimidate a key witness.
NEW YORK (Reuters) - U.S. stocks lost ground late to end lower on Friday following a White House-focused week that raised more questions about the Trump administration's ability to implement its pro-growth agenda.
NEW YORK (Reuters) - The Trump-fed rally in stocks, lately showing signs of faltering as the long Wall Street summer nears its end, faces a key test in the weeks ahead with the approach of a historically unkind season for equities and a clutch of issues - such as raising the debt ceiling - awaiting the return of lawmakers to Washington.
WASHINGTON (Reuters) - U.S., Canadian and Mexican negotiators on Friday began digging into some of the thorniest issues in modernizing the North American Free Trade Agreement, including rules of origin for goods produced in the region, services trade and a controversial dispute settlement system.
WASHINGTON (Reuters) - The stock market's steady rise, still low long-term bond yields and a sagging dollar are girding the Fed's intent to raise interest rates again this year despite concerns about weak inflation, according to comments this week from Fed officials and analysts anticipating remarks next week by Chair Janet Yellen.
(Reuters) - A lawyer for Elliott Management Corp told a U.S. bankruptcy judge on Friday that an unidentified utility could pay $9.3 billion to buy Texas power transmission company Oncor Electric Delivery Co, topping Berkshire Hathaway Inc's $9 billion bid.
DETROIT (Reuters) - Federal prosecutors on Friday recommended a three-year prison sentence for Volkswagen AG engineer James Liang for his role in a diesel emissions scandal that has cost the German automaker as much as $25 billion.
SAO PAULO (Reuters) - Citigroup Inc and seven other banks will underwrite the initial public offering of Petróleo Brasileiro SA's fuel distribution unit, which will likely occur in November, a person with direct knowledge of the plan said.
(Reuters) - A former senior official at the United Auto Workers trade union was charged on Friday with conspiring with other union officials to accept improper payments from Fiat Chrysler Automobiles NV officials over a four-year period.
NEW YORK (Reuters) - The New York Federal Reserve on Friday raised its estimate of U.S. gross domestic product growth for the third quarter above 2 percent based on this week's data on retail sales, industrial output and regional manufacturing.
NEW YORK (Reuters) - A U.S. judge on Friday ordered lawyers defending Platinum Partners founder Mark Nordlicht in a $1 billion fraud case not to communicate with U.S. government witnesses or their lawyers, after prosecutors claimed Nordlicht's lawyers tried to intimidate a key witness.
The Wall Street Journal©
- Uber's Kalanick Fires Back at Investor in Legal BattleUber’s former chief executive said Benchmark Capital is engaged in a personal attack that threatens to further damage the company and called for the legal dispute to be settled in arbitration.
- Third Bidder Emerges in Battle for Energy Future's OncorWarren Buffett’s battle for control of a Texas power company took a turn Friday as a new mystery bidder emerged to challenge Berkshire Hathaway Inc.’s $9 billion offer.
- Two Tenet Board Members Resign, Setting Up Potential Proxy FightGlenview Capital Management, the largest institutional shareholder in Tenet Healthcare, said in a securities filing it could push for a sale of the hospital company or new leadership.
- Skirting Netflix: Video Streamers Serve Up Horror, '70s Fare, AnimeWalt Disney Co.’s decision this month to stream its own movies and shows marks Hollywood’s latest—and biggest—attempt to wean itself from Netflix Inc.
- Poland Spring Suit Accuses Nestlé of 'Colossal Fraud'Nestlé is facing a lawsuit in the U.S. alleging that its Poland Spring brand is “common groundwater” rather than spring water, which the suit claims makes the marketing of Poland Spring water a “colossal fraud.”
- U.S. Consumer Sentiment Rose in AugustU.S. consumer sentiment increased in the first half of August to its highest level since January, as consumers cited a positive outlook for future economic conditions.
- Yellen to Speak on Financial Stability at Jackson Hole Next WeekFederal Reserve Chairwoman Janet Yellen will speak at the central bank’s annual economic symposium in Jackson Hole, Wyo., next week, the Fed announced Thursday.
- U.S. Industrial Output Up Modestly in JulyCooling auto sales have led to a drop in production at U.S. factories, constraining a key driver of economic growth in recent years.
- Power-Generation Company Calpine Agrees to Be Sold to ConsortiumPrivate-equity firm Energy Capital Partners and a group of co-investors has agreed to buy power-generation company Calpine for $5.6 billion.
- James Murdoch Criticizes Trump: 'There Are No Good Nazis'James Murdoch, CEO of 21st Century Fox and board member at News Corp, became the latest major U.S. business leader to criticize President Donald Trump’s response to white supremacist violence in Virginia.
- Vishal Sikka Resigns as Infosys CEOVishal Sikka has resigned as chief executive of Infosys, citing a resistance to change at the company that deteriorated into ugly accusations of impropriety.
- The 2008 Financial Crisis: How It All BeganAugust 2007 marked the beginning of the worst financial crisis since the great depression. WSJ’s finance and banking editors break down the events that led to the 2008 financial crisis.
- U.S. Jobless Claims Dropped to 232,000 Last WeekThe number of Americans filing new applications for unemployment benefits dropped last week from already low levels, a sign of health in the U.S. labor market.
- Foot Locker Sales Miss Weighs on SectorFoot Locker reported worse-than-expected same-store sales in its latest quarter, a sign that the ‘athleisure’ market may be running out of steam.
- Higher Costs Chip Away at Lenovo's ProfitabilityA supply squeeze in memory chips is hampering Lenovo Group’s turnaround strategy, pushing the PC and phone maker to its first quarterly loss in nearly two years.
- Lost $12 Million Windfall Sparks Suit Against DelawareTwo French scientists are suing Delaware because the state sold stock they owned in Idenix Pharmaceuticals without telling them. The case has implications across the U.S. as many companies are incorporated in Delaware.
Uber’s former chief executive said Benchmark Capital is engaged in a personal attack that threatens to further damage the company and called for the legal dispute to be settled in arbitration.
Warren Buffett’s battle for control of a Texas power company took a turn Friday as a new mystery bidder emerged to challenge Berkshire Hathaway Inc.’s $9 billion offer.
Glenview Capital Management, the largest institutional shareholder in Tenet Healthcare, said in a securities filing it could push for a sale of the hospital company or new leadership.
Walt Disney Co.’s decision this month to stream its own movies and shows marks Hollywood’s latest—and biggest—attempt to wean itself from Netflix Inc.
Nestlé is facing a lawsuit in the U.S. alleging that its Poland Spring brand is “common groundwater” rather than spring water, which the suit claims makes the marketing of Poland Spring water a “colossal fraud.”
U.S. consumer sentiment increased in the first half of August to its highest level since January, as consumers cited a positive outlook for future economic conditions.
Federal Reserve Chairwoman Janet Yellen will speak at the central bank’s annual economic symposium in Jackson Hole, Wyo., next week, the Fed announced Thursday.
Cooling auto sales have led to a drop in production at U.S. factories, constraining a key driver of economic growth in recent years.
Private-equity firm Energy Capital Partners and a group of co-investors has agreed to buy power-generation company Calpine for $5.6 billion.
James Murdoch, CEO of 21st Century Fox and board member at News Corp, became the latest major U.S. business leader to criticize President Donald Trump’s response to white supremacist violence in Virginia.
Vishal Sikka has resigned as chief executive of Infosys, citing a resistance to change at the company that deteriorated into ugly accusations of impropriety.
August 2007 marked the beginning of the worst financial crisis since the great depression. WSJ’s finance and banking editors break down the events that led to the 2008 financial crisis.
The number of Americans filing new applications for unemployment benefits dropped last week from already low levels, a sign of health in the U.S. labor market.
Foot Locker reported worse-than-expected same-store sales in its latest quarter, a sign that the ‘athleisure’ market may be running out of steam.
A supply squeeze in memory chips is hampering Lenovo Group’s turnaround strategy, pushing the PC and phone maker to its first quarterly loss in nearly two years.
Two French scientists are suing Delaware because the state sold stock they owned in Idenix Pharmaceuticals without telling them. The case has implications across the U.S. as many companies are incorporated in Delaware.
