As a CEO and native Chicagoan, I love my city and would live nowhere else. Yet it bothers me when I see Chicago in national headlines for troubling reasons — failing public schools in low-income areas with high dropout rates, and (as everyone knows) an epidemic of gun violence in […]
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Bank of England holds rates — but split vote sets the stage for May hike
The Bank of England (BOE) kept its main interest rate unchanged Thursday but two policymakers unexpectedly voted in favor of an immediate rate hike, boosting the prospect of rising borrowing costs in May. In the second Monetary Policy Committee (MPC) review of the year, the U.K.’s central bank held rates […]
Worried that stock earnings growth has already peaked? Watch the Fed’s GDP tracker
Weighing the good news versus the bad news issuing from the economy is one of the most critical things investors do, but human biases get in the way. That’s a simple way of saying that people believe what they believe, even in the face of contradictions. We have a massive […]
Casino mogul Steve Wynn lowers his stake in Wynn Resorts to 7.8%
Steve Wynn, the former chief executive of Wynn Resorts, has sold some shares in the company, lowering his stake in the casino operator to about 7.8 percent from 11.78 percent, according to a regulatory filing on Thursday. Steve Wynn sold 4.1 million shares of the company, the filing showed. His […]
Southern California is on guard as heavy rains threaten to trigger deadly mudslides
The threat of dangerous mudslides will grow on Thursday as a storm rolls through coastal California, where thousands have fled from homes near hillsides that were stripped of vegetation by massive wildfires. Intense rains of up to an inch (3 cm) per hour was forecast on Thursday morning for Santa […]
Trump attacks ‘crazy Joe Biden’ after the former VP said he would have ‘beat the hell out of’ Trump for disrespecting women
President Donald Trump is lashing out at Joe Biden for wanting to “beat the hell out of him,” saying the former vice president “would go down fast and hard, crying all the way.” The Republican president tweeted Thursday: “Crazy Joe Biden is trying to act like a tough guy. Actually, […]
February’s market jitters should be seen as a ‘wake-up call’: Credit Suisse
Investors should see February’s market jitters as a wake-up call that some risks still exist in an otherwise strong economy, according to Credit Suisse’s global chief investment officer. Speaking to CNBC at the bank’s Asian Investment Conference in Hong Kong, he said: “The jitters of February was a little bit […]
Doubts are growing about Myanmar’s political leadership
The sudden resignation of Myanmar President Htin Kyaw is a worrying development for the country’s future, according to one politics watcher, especially as a crescendo of criticism engulfs de-facto ruler Aung San Suu Kyi. In a statement on Wednesday, Htin Kyaw’s office said the 71 year-old was departing immediately “in […]
‘Asian democracy’ appears to be working for many parts of the world: Credit Suisse
Concerns over the rise of far-right politics in the past two years may have receded recently, but the tides are changing when it comes to how countries are governed. “We see a shift from a preference for Western-style democracy, the old paradigms, the old conventions of free trade and globalization, […]
Asian shares close mixed in choppy session after Fed raises rates
Asian markets closed mixed Thursday in what proved to be a choppy session after the U.S. Federal Reserve raised interest rates for the first time this year. Japan’s Nikkei 225 rose 0.99 percent, or 211.02 points, to close at 24,591.99 and the broader Topix edged up by 0.65 percent, with […]