The Education Department opened an investigation into Harvard’s use of legacy admissions following...
The Education Department opened an investigation into Harvard’s use of legacy admissions following a complaint from a nonprofit earlier this month.
A federal judge blocked an asylum policy President Biden has used to reduce crossings at the southern border but delayed it from taking effect for 14 days to allow for an appeal.
PacWest Bancorp, a regional lender struggling since the collapse of SVB in March, will merge with Banc of California to form Pacific Western Bank.
President Biden established a national monument in honor of Emmett Till, the Black teenager who was lynched in 1955, and his mother, who became a civil rights advocate.
GM said it’ll make a next-generation Chevy Bolt EV three months after announcing it would end production of its best-selling electric vehicle.
Trader Joe’s is recalling two of its cookie brands because they could contain rocks.
It's Fed day, and markets are absorbing a big slate of earnings results from the likes of Alphabet...
It's Fed day, and markets are absorbing a big slate of earnings results from the likes of Alphabet and Microsoft.
Stock futures are a bit lower, though that's after a session in which the S&P 500 finished at its highest level since April 2022.
Will Jerome Powell spoil the fun?
"If Chair Powell leans into expectations that the FOMC is ready to pause, or at least skip a September hike, that may encourage further risk-taking across global financial markets," says Han Tan, chief market analyst at Exinity Group.
"However, should the Fed acquiesce to its June dot plot and swing the door wide open for yet another rate increase, such repricing should prompt an immediate but possibly limited recovery for the US dollar, while weighing on the likes of gold, stocks, and oil."
U.S. charges British billionaire Joe Lewis with ‘brazen’ insider trading
U.S. prosecutors have called offsides on the British billionaire owner of the Tottenham Hotspur soccer...
U.S. prosecutors have called offsides on the British billionaire owner of the Tottenham Hotspur soccer team, charging him with a “brazen insider-trading scheme,” in which he passed secret stock tips worth millions to his girlfriends, private pilots and assistants for years.
Joe Lewis, 86, who is one of the richest people in the United Kingdom, is accused of taking inside information about companies in which he was a large investor and handing it out to people around him for them to use to get rich.
“Notwithstanding his vast personal wealth, Lewis provided the inside information to his employees, romantic partners, and friends as a way to give them compensation and gifts,” federal prosecutors wrote in an indictment filed in New York.
U.S. stocks end higher as Dow industrials log 12th straight day of gains
U.S. stock indexes finished higher on Tuesday with the Dow Jones...
U.S. stock indexes finished higher on Tuesday with the Dow Jones Industrial Average extending its winning streak to a 12th session while hitting its highest close since February 2022. Investors awaited the Federal Reserve’s policy decision on Wednesday and will assess Chair Jerome Powell’s comments for forward guidance on further interest-rate moves. The central bank is expected to raise the benchmark interest rates by 25 basis points to a range of 5.25%-5.5%, resuming its campaign to raise borrowing costs and curb inflation after a brief pause in June. The Dow Industrials DJIA gained 27 points, or less than 0.1%, to end at 35,438. The S&P 500 SPX rose 0.3%, while the Nasdaq CompositeCOMP advanced 0.6%.
UPS averts strike, as Teamsters union announces tentative agreement
The International Brotherhood of Teamsters announced Tuesday...
The International Brotherhood of Teamsters announced Tuesday that it has reached a tentative agreement with United Parcel Service Inc. UPS, -1.39% on a new contract, which includes “lucrative” wage increases, more jobs and workplace protections, and improvements.
Included in the contract, which would extend through 2028, existing full- and part-time union members will get $2.75 more per hour in 2023 and $7.50 more per hour over the length of the contract. Existing part-time workers will be paid a minimum of $21 per hour, and the average top rate for full-time workers will increase to $49 per hour. The contract would also include the creation of 7,500 new full-time union jobs and the fulfillment of 22,500 open positions.
