CategoryEconomy

CSX Corp. CEO Hunter Harrison dies suddenly at 73

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Hunter Harrison at a March 2015 luncheon in TorontoCSX Corp Chief Executive Hunter Harrison died on Saturday, a day after the surprise announcement that he was placed on medical leave caused the railroad company to lose $4 billion in market value At the time of his death at 73 years old, Harrison left unfinished his most challenging assignment, the turnaround of CSX He joined the Jacksonville...

Democrat Schumer to push for Senate vote on net neutrality

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Senate Minority Leader Chuck Schumer said Friday he would use the Congressional Review Act as a vehicle to force a Senate vote on the Federal Communications Commission's repeal this week of Obama-era rules on net neutrality, according to a Reuters report Those rules barred internet service providers from discriminating against content, content providers or consumers, provided the content in...

Procter & Gamble confirms Nelson Peltz will get a board seat

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Procter & Gamble Co PG, +098% shares ticked higher in the extended session Friday after the consumer goods company certified that activist investor Nelson Peltz secured a seat on its board P&G shares rose 08% to $9258 after hours In a statement, P&G said "results between Ernesto Zedillo and Nelson Peltz were extremely close, with Mr Peltz receiving almost 50% of shares voted" The company...

Republicans release final version of tax-overhaul bill

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Partner Center The day-to-day things that I’ve long used to define my wisdom don’t come so easily anymore Debt loads for retirees are higher than ever before Shares of home builders have run ahead of a strong stock market, but a housing shortage could mean there’s more to come MGM Growth Properties LLC said Friday it will raise its quarterly cash dividend on Class A shares to 42 cents a share, up...

Dow, S&P 500 and Nasdaq all end at record highs on tax-bill optimism

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Published: Dec 15, 2017 4:03 pm ET All main stock benchmarks closed at records on Friday with the S&P 500 and the Dow Jones Industrial Average extending their weekly winning streak to four as Republicans prepared to outline their final version of the tax bill Stocks have been sensitive to developments from Capitol Hill on the tax bill and any news that is viewed as a step closer to enacting tax...

Sen. Bob Corker flips to 'yes' on Republican tax bill

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Sen Bob Corker said Friday he'll vote for the final version of the Republican tax bill The Tennessee Republican was the only senator from his party to vote against the Senate's version of the measure He said in a statement, "I believe that this once-in-a-generation opportunity to make US businesses domestically more productive and internationally more competitive is one we should not miss" His...

Under Armour breaks out of years-long tailspin after analyst upgrade

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soared Friday, enough to kick off a new bull market, after the athletic-gear company was upgraded at Stifel Nicolaus, which cited signs that gross margins are set to bottom NKE, +058% The stock closed at a 5 ½-year low of $1161 on Nov 3 in the wake of another disappointing quarterly report, which was down 78% from the record high of $5378 reached in September 2015 On Friday, Stifel analyst Jim...

Palladium and lumber have defied a 2017 commodities slump

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Both indexes finished out 2016 more than 11% higher after multiyear declines ‘Equity greed’ “With the [global] stock market continuing on to new highs with no sign of a 5% pullback, let alone a correction, ‘equity greed’ is funneling risk assets into the stock market and away from fixed income and commodities,” said Adam Koos, president of Libertas Wealth Management Group But there have still...

Donald Trump holds off hitting the Gulf carriers with sanctions

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But they were less happy on December 13th when it was revealed that Donald Trump has decided to hold off on imposing sanctions against the three big Gulf carriers—Emirates of Dubai, Etihad of Abu Dhabi, and Qatar Airways—for what America’s big airlines allege are unfair subsidies that they receive from their governments A document from an administration meeting in September, obtained by Politico...

Trump says child credit in tax bill is 'increasing'

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President Donald Trump said Friday the final Republican tax bill contains a "tremendous" child tax credit, and that it's "increasing on a daily basis" He did not elaborate but his comments follow statements by Sen Marco Rubio, who has said he can only support the bill if it contains a more-generous child tax credit The text of the bill is expected to be released late Friday afternoon Speaking to...

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