Wall Street banks see deal activity picking up, even after record results
Jonathan Gray, president and chief operating officer of Blackstone Inc., from left, Ron O’Hanley, chief executive officer of State Street Corp., Ted Pick, chief executive officer of Morgan Stanley, Marc Rowan, chief executive officer of Apollo Global Management LLC, and David Solomon, chief executive officer of Goldman Sachs Group Inc., during the Global Financial Leaders’ […]
Biden warns that an oligarchy is taking hold in America. There is data to back him up.
Wealth disparity in the U.S. has grown since 2009, according to Fed data, with a significant increase in the share of the nation’s wealth held by the 238,000 richest people.
Bank of America (BAC) earnings Q4 2024
Bank of America on Thursday posted results that topped expectations for profit and revenue on better-than-expected investment banking and interest income. Here’s what the company reported: Earnings: 82 cents vs. 77 cents expected, according to LSEG Revenue: $25.5 billion vs. $25.19 billion expected The company said fourth-quarter profit more than doubled to $6.67 billion, or 82 […]
Target’s holiday sales show a rebound from third-quarter doldrums
Target’s stock soared 3.7% early Thursday, after the retailer raised guidance for a key metric in an update on its holiday sales after achieving records for both Black Friday and Cyber Monday promotional events.
Medicare $2,000 prescription drug cap may save enrollees thousands: AARP
Most Medicare patients who hit the new $2,000 cap on out-of-pocket spending for prescription drugs could see massive savings, despite changes in premiums, according to a report released Thursday by AARP. The findings suggest the cap could be a huge benefit to older adults in Medicare who struggle to afford high-cost drugs for cancer, rheumatoid […]
Treasury yields nudge higher from 9-day lows on cooler inflation data; retail sales up next.
Bond yields were inching up early Thursday, having plunged midweek to a 9-day low after a softer-than-expected inflation report raised hopes of more chances of interest rate cuts by the Federal Reserve this year.
Schizophrenia drug Cobenfy could treat Alzheimer’s
The Bristol Myers Squibb research and development center at Cambridge Crossing in Cambridge, Massachusetts, US, on Wednesday, Dec. 27, 2023. Adam Glanzman | Bloomberg | Getty Images Bristol Myers Squibb believes Alzheimer’s is the largest market for its newly approved schizophrenia drug, Cobenfy, which it expects to eventually generate billions of dollars in revenue. In […]
Disaster insurance is failing homeowners. The L.A. fires can be a turning point.
Government should focus on these 3 questions to help find solutions.
DOT sues Southwest, fines Frontier for ‘chronically delayed flights’
A Southwest Airlines Boeing 737 departs Los Angeles International Airport en route to Las Vegas on September 19, 2024 in Los Angeles, California. Kevin Carter | Getty Images The Department of Transportation on Wednesday sued Southwest Airlines, alleging the carrier operated chronically delayed flights, and fined Frontier Airlines for late-arriving flights. The lawsuit follows a […]
