The benchmark S&P 500 has lost 7.6% over the last four days, its worst such stretch since the end of 2018. Tuesday also marked the first back-to-back 3% losses for the index since summer 2015.
McDonald steps down as ClearObject CEO to join venture fund
John McDonald said he’s taking a position with Boomerang Ventures to become more involved in the state’s startup ecosystem.Read More
J.P. Morgan sues ex-broker after client exodus to his new firm
The brokerage alleges that Erik Weiss, since leaving for a job with Raymond James & Associates last month, has been improperly soliciting clients to follow him.Read More
Colleges find big benefits in connecting investors with startups
Colleges nationwide are launching angel networks that connect business executives and investors with entrepreneurs and startups with ties to the school.Read More
IBJ Podcast: Pete The Planner on how to prepare for the next recession
Pete the Planner talks to host Mason King about how to look at your budget and evaluate your readiness for a recession, and he offers advice about the kinds of changes that can help. Plus, he explains why you’re making a mistake if you try to time the market’s ups and downs.Read More
The agreement announced Monday would bring together the maker of TurboTax, QuickBooks and other personal finance tools with one focusing on consumers’ access to financial products, such as finding the right loan or credit card.
The selling wiped out all of the Dow Jones industrial average’s gains for the year. The major U.S. stock indexes all fell more than 3%.
The Dow Jones industrial average slumped more than 3% and gave up all of its gains for the year as a surge in virus cases and a worrisome spread of the disease outside the epicenter in China sent investors running for safety.
A federal judge in northern Ohio has set aside three weeks for the jury trial, which pits Fair Finance Co.’s bankruptcy trustee against one of Fair’s former lenders, the Fortune 500 firm Textron Inc.
A former wealth adviser at David A. Noyes & Co. in Indianapolis has filed a sex discrimination lawsuit against the financial firm and longtime firm executive L.H. Bayley, 84.
The agency said Wednesday that it is stepping up its efforts to visit high-income taxpayers who failed in prior years to file their tax returns on time.
The tech giant is warning investors that it won’t meet its second-quarter financial guidance because of the viral outbreak.
Surging markets around the world were a big reason for the growth: The S&P 500 index had one of its best years in decades with a 31.5% return. But workers’ better savings habits also played a big role.
Jerome Powell told Congress on Tuesday that the Fed is monitoring developments stemming from the coronavirus, which he said “could lead to disruptions in China that spill over to the rest of the global economy.”
Health experts don’t know how far the virus will spread and how bad the crisis will get, yet stocks are rallying as if investors are expecting no more than a modest hit to the global economy.
Technology companies and banks led a broad rally for U.S. stocks in midday trading Tuesday following solid gains overseas as China took more steps to soften the financial impact of the virus outbreak.
Technology companies led U.S. stocks higher in midday trading Monday as global markets mostly calmed down following a sharp sell-off last week over worries about the spreading virus outbreak in China.
China’s central bank announced plans Sunday to inject 1.2 trillion yuan (about $173 billion) into the economy to cushion the shock to financial markets from the outbreak of the new virus when trading resumes Monday.
The draft rule approved by the Federal Reserve would exempt venture capital funds from the Volcker Rule’s provision that bars banks from investing in hedge or private equity funds.
Most U.S. universities made money on their financial investments last year, but their returns were tempered by a global economic slowdown fueled by America’s trade war with China, according to an annual survey of school finance chiefs.
The Federal Reserve sketched a mostly positive picture of the U.S. economy after its latest policy meeting. It also repeated its pledge to “monitor” the world economy, which may be held back in the coming months by China’s viral outbreak.
Chinese health authorities have confirmed 2,750 cases of the coronavirus along with 81 related deaths as authorities extended a week-long public holiday by an extra three days as a precaution against having the virus spread still further.