During the financial crisis, JP Morgan Chairman and CEO Jamie Dimon was the golden boy of Wall Street.
Occidental Petroleum chairman Ray Irani lost his job Friday after 76% of shareholders opposed his reelection, the latest high-profile executive to be shown the doors.
It's May again, so that means you can't turn on financial TV without being bombarded with advice to dump all your stocks until the end of the summer when it's safe to buy them again. This advice, "Sell in May and go away," is based on analyses of average market performance by month over the past 50 years. Related: Dow 15,000: 'Sometimes a Bullish Market Is Just a Bullish Market' As you would expect (based on the aphorism), and as you can see in this char t, May has tended to be a weak month for stock performance, though stocks have still delivered a positive return in the month
Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget, a non-profit organization committed to analyzing and influencing fiscal policy, says the next five months are critical for budget reform. In an interview at the Milken Institute's 2013 Global Conference, MacGuineas argues that Washington needs to replace the sequester with a bigger debt deal – one that tackles the “real problem areas of the budget” such as health care, aging and an outdated tax code
As was widely expected, the European Central Bank cut interest rates for the first time in close to a year from 0.75% to 0.50%. The rate cut was driven by an economy in recession, with unemployment hitting a record high in April and inflation dropping the most in more than four years
Many market strategists credit the Federal Reserve with the rally that has pushed the Dow and the S&P 500 to record highs.
The U.S. Treasury this week announced plans to retire $35 billion in notes , the first time the government has paid down debt since 2007. It’s a significant milestone for Treasury and $35 billion is a lot of money for mere mortals, but barely a drop in the $16.7 trillion bucket of our nation’s debt.
Few Americans were aware of the dangers of industrial farming and processed food before Michael Pollan published his best-selling books “ In Defense of Food ” and the “ Omnivore’s Dilemma .” A hero to the locavore and organic movements, Pollan has never shied away from expressing his opinions on what to eat, where to eat and the proper way to raise and harvest what we eat. In his new book “
Gold soared Friday morning to just below $1,475 an ounce, but by the afternoon the gains were gone and gold was down almost $9 an ounce.
The United States government has had two years to head off automatic "sequester" spending cuts that most people agreed were unnecessary and almost everyone hated. But these days, the government doesn't do anything unless public anger hits such a state of fervor that Congress -- people actually begin to fear for their jobs.