Stocks

“Dow rises more than 100 points to close above 38,000 for the first time ever…”

“…The Dow Jones Industrial Average climbed 138.01 points, or 0.36%, to finish at 38,001.81. Monday’s gains pushed the blue-chip average to a new record and above the 38,000 level for the first time. The S&P 500 added 0.22% to 4,850.43, also reaching a fresh… Continue Reading…

Real Estate

“December home sales slump to close out worst year since 1995”

“Sales of previously owned homes fell 1% in December compared with November to 3.78 million units on a seasonally adjusted annualized basis, according to the National Association of Realtors. Sales were 6.2% lower than in December 2022, marking the lowest level… Continue Reading…

Business

“Blackstone to close multi-strategy fund after assets drop nearly 90%”

“Blackstone plans to close a fund that exposes investors to a variety of hedge funds and trading strategies after assets fell almost 90% in four years, the company told Reuters on Tuesday… Assets under management in the fund peaked at… Continue Reading…

Economy, Stocks

“Indian shares close higher, shrugging off weakness in Asia, Europe”

“Indian shares closed higher on Thursday, in contrast to weakness in Asian and European equities, bucking concerns around an escalating Sino-U.S. trade conflict and rising odds of further policy tightening by the U.S. Federal Reserve. The Nifty 50 index settled… Continue Reading…

Business

“Mark Zuckerberg’s fortune has surged this year – and nobody on the rich list comes close to his $44 billion gain”

“…Mark Zuckerberg has seen his fortune surge this year – and nobody on Bloomberg’s rich list comes close to his $44 billion gain so far in 2023. The Meta CEO has made more than anybody else on Bloomberg’s Billionaire Index this year,… Continue Reading…

Business

“Chipotle to pay ex-employees $240,000 after closing Maine location that tried to unionize'”

“…Employees at the Chipotle restaurant filed a petition to unionize under Chipotle United in late June, becoming the chain’s first outlet to do so. Prior to the filing, workers had already walked out in protest of working conditions and understaffing.… Continue Reading…

Banking, Cryptocurrencies

“Regulators close crypto-focused Signature Bank, citing systemic risk”

“New York state regulators on Sunday shut down Signature Bank, a big lender in the crypto industry, in a bid to prevent the spreading banking crisis. “We are also announcing a similar systemic risk exception for Signature Bank, New York, New… Continue Reading…

Stocks

“Stocks close lower, Dow drops nearly 500 points as supply chain concerns mount amid protests in China”

“Stocks closed lower Monday as social unrest from China’s prolonged Covid restrictions weighed on markets. The Dow Jones Industrial Average lost 497.57 points, or 1.45%, to end at 33,849.46. The S&P 500 dropped 1.54% to end at 3,963.94. The Nasdaq… Continue Reading…

Business

“Starbucks will exit Russia after 15 years, closing 130 licensed cafes”

“After 15 years operating in Russia, Starbucks will exit the market, joining companies like McDonald’s, Exxon Mobil and British American Tobacco in withdrawing from the country completely. The coffee giant announced Monday that it will no longer have a brand presence in Russia. Starbucks has 130 locations… Continue Reading…

Business

“GM car prices surge as more plants close during the chip shortage”

“General Motors is temporarily shutting down more auto plants, leading to tight inventories at dealerships and higher prices for customers. The global chip shortage is to blame.The company announced it would shut production at two US plants — in Spring… Continue Reading…