Tag Archives: Wall Street

Yahoo Finance reports: US stocks fell on Thursday, with the S&P 500 officially entering into correction territory, as economic concerns grew and investors digested the latest inflation data, President Trump’s trade offensive, and a looming US government shutdown. The S&P 500 dropped 1.4% to officially enter a correction, as it is now more than 10% off its February record high. …

The Wall Street Journal reports: Banks are getting ready to sell billions of dollars in debt borrowed by Elon Musk’s X, bringing Wall Street a step closer to exiting the nerve-racking deal that financed the social-media company’s buyout. Morgan Stanley bankers have reached out to investors ahead of a planned sale next week of up to $3 billion of debt …

Reuters reports: U.S. stock exchanges will close on Thursday, January 9 in observation of a national day of mourning in honor of former U.S. President Jimmy Carter, who died on Sunday at the age of 100. The New York Stock Exchange and the Nasdaq announced the closures on Monday, a customary gesture to honor deceased presidents. President Joe Biden directed …

The Christian Post reports: A billionaire who has claimed to be a devout Christian and was one of the Evangelical world’s biggest benefactors was found guilty Wednesday in New York City of massive securities and market manipulation fraud that reportedly wiped $100 billion from the global market. Bill Hwang, who founded the investment firm Archegos Capital Management in 2013, stared …

The New York Times reports: Ivan F. Boesky, the brash financier who came to symbolize Wall Street greed as a central figure of the 1980s insider trading scandals, and who went to prison for his misdeeds, died on Monday. He was 87. An inspiration for the character Gordon Gekko in Oliver Stone’s movie “Wall Street” and its sequel, Mr. Boesky …

The Associated Press reports: Regulators seized troubled First Republic Bank early Monday and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S. San Francisco-based First Republic is the third midsize bank to fail in two months. It is the second-biggest bank failure in …

Bloomberg News reports: Grindr LLC, the dating app that specializes in connections for the LGBTQ+ community, has agreed to go public through a blank-check firm in a deal that values the combined company at $2.1 billion including debt. The predominantly male dating app is merging with Tiga Acquistion Corp., which debuted in November 2020. The special purpose acquisition company isn’t …

Reuters reports: Citigroup Inc staff in the United States who have not been vaccinated against COVID-19 by Jan. 14 will be placed on unpaid leave and fired at the end of the month unless they are granted an exemption, according to a company memo seen by Reuters on Friday. The U.S. bank announced its plan to impose new vaccination rules …

Politico reports: Traders in recent weeks have been piling into bets that a “blue wave” election, in which Democrats also seize the Senate, will produce an economy-juicing blast of fresh fiscal stimulus of $3 trillion or more that carries the U.S. past the coronavirus crisis and into a more normal environment for markets. Far from panicking at the prospect of …

The New York Times reports: The consultant’s assessment quickly spread through parts of the investment world. U.S. stocks were already spiraling because of a warning from a federal public health official that the virus was likely to spread, but traders spotted the immediate significance: The president’s aides appeared to be giving wealthy party donors an early warning of a potentially …

Reuters reports: A New York investment firm pitched wealthy investors in recent days on a way to make returns of 22% to 175% using U.S. government programs designed to help Americans keep their jobs and boost the coronavirus-stricken economy, according to a marketing document seen by Reuters. Following questions posed by Reuters, Arcadia Investment Partners LLC, which has about $1 …

The Washington Post reports: Wall Street concluded one of its worst-ever starts to a year on Tuesday with markets staggering under trillions in losses from an economy paralyzed by the coronavirus. The Dow Jones industrial average plunged more 400 points, or roughly 1.9 percent, for the worst first-quarter finish of its 135-year history. The virus has killed thousands across the …

The Los Angeles Times reports: In a tearful admission of guilt in a Manhattan federal courtroom, Milken pleaded in April 1990 to counts of conspiracy; aiding and abetting failure to meet federal securities disclosure regulations; securities fraud; aiding and abetting a regulated broker-dealer to violate securities reporting requirements; mail fraud, and assisting in filing a false tax return. Milken was …

CNBC reports: Joe Biden is set to rally more than 250 Wall Street and big money donors Thursday at a pair of fundraisers in New York after his presidential campaign stumbled in Iowa and New Hampshire. A guest list, first obtained by CNBC, shows that the events will draw some of the biggest names in the financial services community to …

NBC News reports: The former head of bond giant Pimco was branded a “common thief” by a federal judge and sentenced Friday to nine months in prison for his role in the sweeping college admissions cheating scandal. Douglas Hodge, who had earlier admitted paying $850,000 in bribes to get four of his seven kids admitted to elite colleges, also had …

Bloomberg News reports: Savings for the top six U.S. banks from President Donald Trump’s signature tax overhaul accelerated last year, now topping $32 billion as the lenders curbed new borrowing, pared jobs and ramped up payouts to shareholders. JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Wells Fargo & Co., Goldman Sachs Group Inc. and Morgan Stanley posted …

Fox Business reports: Tulsi Gabbard, fresh off her nasty tussle with former first lady, secretary of state, and 2016 Democratic nominee, Hillary Clinton, was given a hero’s welcome at a meeting with Wall Street executives and potential donors on Wednesday evening in New York City, FOX Business has learned. About two dozen Wall Street executives sat for the off-the-record meeting …

CNBC reports: Amazon is now the largest company by market value, overtaking Microsoft’s hold on the title. Amazon’s ended trading Monday with a market value of about $797 billion, compared with Microsoft’s $783 billion. Apple, which had been part of a close three-way race for the seat, is now down to about $702 billion in market value after plunging last …

MarketWatch reports: Stocks ended the week on a down note Friday, falling sharply on worries about global growth after weaker-than-expected Chinese data. The Dow Jones Industrial Average DJIA, -2.02% fell around 496 points, or 2%, to finish near 24,101, according to preliminary figures. The close put the Dow back into correction territory, defined as a pullback of at least 10% …

The New York Times reports: Stocks fell on Tuesday, after President Trump sowed confusion over the status of a truce in the trade war between the United States and China, while the bond market, often considered a safe haven for investors, sent a stark warning about expectations for an economic slowdown. The S&P 500 dropped more than 3 percent, with …