A dozen of the largest Wall Street banks on Monday published detailed plans to show how they would shut down their business during a crisis without the help of taxpayer money, a crucial step to prevent being broken up by regulators.
Industry
A new Coalition of the Willing fights another war: unemployment
Some of the top American companies have joined hands to form the 100,000 Opportunities Initiative with a commitment to create economic opportunities for the youth of America. It aims to be the country's largest employer-led coalition with a goal to provide 100,000 young people with employment opportunities by the end of 2018.
Weak U.S. retail sales hint at slower economic growth
U.S. retail sales unexpectedly fell in June as households cut back on purchases of automobiles and a range of other goods, raising concerns the economy was slowing again.
Citibank Is Working On Its Own Digital Currency, Citicoin Proposing U.K. Government To Run Its Own Digital Cash
Citibank is testing on a new digital currency Citicoin at this point, handling a run-through platform and evaluating key measures. In line with this, the premier bank is also suggesting the U.K. government to provide its own digital cash.
NYSE shut down for nearly four hours by technical glitch
The New York Stock Exchange was forced to suspend trading for several hours on Wednesday in the biggest outage to hit a U.S. financial market in nearly two years, unnerving investors already rattled by the meltdown in Chinese stocks and the Greek debt crisis.
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China froze share offers and set up a market-stabilization fund on Saturday, the Wall Street Journal said, as Beijing intensified efforts to pull stock markets out of a nose-dive that is threatening the world's second-largest economy.
U.S. job growth likely cooled a bit in June after reaching a five-month high, but still-healthy hiring would suggest the labor market is strong enough to support a September interest rate increase by the Federal Reserve.
With the annual rebalance of the Russell stock indexes just a day away, brokerage firms are shaving the discounts they typically offer to big index funds on what is usually one of the biggest trading days of the year.
The family businesses that make up the global diamond trade have seen their profits wiped out over the past five years, hit by shaky financing, increased costs and uncertain demand from customers who prefer hi-tech gadgets to bling.
Investment adviser Mitch Tuchman scored a deal any traveler would be proud of: $280 a night for a recent stay at the luxurious Viceroy Hotel in Manhattan, where the going rate can exceed more than $500 on a weeknight.
When fears of a Greek default are mounting, stock markets are jittery at multi-year highs, and the world's biggest economy is preparing to hike interest rates, the idea of taking refuge in bank stocks might appear to be a hard sell.
Oil field work was coming in fast when GoFrac doubled its workforce and equipment fleet at the beginning of last year, just one of hundreds of small oil service companies thriving on the revival of U.S. drilling.
U.S. permits for future home construction surged to a near eight-year high in May, suggesting a building up of momentum in housing and the broader economy after a dismal performance at the start of the year.
Apparel retailer Gap Inc (GPS.N) said it would close a quarter of Gap specialty stores in North America over the next few years, including 140 this year, potentially affecting thousands of jobs as the company struggles with a slump in sales at its namesake brand.
