The dollar tumbled against its peers ahead of the Asian trading day on Tuesday as investors turned their attention to the U.S. Federal Reserve’s annual symposium in Jackson Hole at the end of the week. The greenback slid against a basket of currencies ahead of the summit as market watchers awaited clues on monetary policy […]
Read moreWhen Foot Locker reported its much weaker-than-expected quarterly results that sent its stock down nearly 28 percent in a single day, Jim Cramer said he felt utterly “blindsided.” “That’s how I view this disastrous quarter from Foot Locker, results so stunning that I have to tell you, you can never, ever look at this company […]
Read moreAs shares of Macy’s continue to slide on worries about the fate of brick-and-mortar retail, Jim Cramer wondered when the department store chain’s stock would finally be too low to ignore. “That’s kind of a loaded question because in reality, Macy’s has been a value trap for a long time. Every time it starts to […]
Read moreAfter Automatic Data Processing announced on Monday that its board unanimously rejected Pershing Square’s three board nominees, its President and CEO, Carlos Rodriguez, recalled a phone call with Pershing Square chief and billionaire activist investor Bill Ackman. “I had a conversation with Bill right before we, I guess, agreed to disagree that he was going […]
Read moreIt became quite clear to Jim Cramer on Monday that the stock market was trading on, well, nothing. “I’ve thought a lot about these periods and I’ve learned that there is such a thing as random movement periodically, and it always gets ascribed to something. The market’s not always logical and the action doesn’t always […]
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As China‘s financial markets mature, major non-Chinese financial firms increasingly want to open funds in the country and tap the multitrillion-dollar institutional investor market there. This summer, UBS Asset Management received a license for private fund management in mainland China, and BlackRock said it plans to set up its first private fund in the country. […]
Read moreIn its bid to compete with Amazon Web Services, Google has opened data centers in four countries outside the U.S. this year and has plans to launch in five more before 2019. But one big market is not on the list: China. Google’s absence, which stems from a long-standing feud with the world’s second-biggest economy, […]
Read moreRoss Levinsohn has worked at all kinds of media companies, but he’s never managed a newspaper before. Now he’ll run a big one: He’s the new publisher and CEO of the Los Angeles Times. As the Times reports, Levinsohn’s appointment comes as part of a restructuring, one of many the paper has undergone: The Times, […]
Read moreYahoo owes a prize promoter $5.5 million for backing out of a contract to pay $1 billion for predicting every winner in the 2014 NCAA men’s basketball tournament, and entering a similar contract with Quicken Loans and Warren Buffett‘s Berkshire Hathaway, a court decided on Monday. The 5th U.S. Circuit Court of Appeals in New […]
Read moreFirst the solar spectacle…then the traffic jam. Enough Americans watched the total eclipse from inside (or near) their cars for the aftermath of the phenomenon to show up on national traffic maps. A screen grab of national traffic patterns on Google Maps shows a series of traffic jams following the path of the event across […]
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