Category: Business

Wall Street stumbled on Thursday, with energy and tech stocks selling off, and the 10-year Treasury bond yield climbing to a new 13-month high. Just a day after remarks from Federal Reserve Chairman Jerome Powell appeased the market, all bets are off again. All three stock indexes closed in the red. The Dow (INDU) finished […]

Federal Reserve Chair Jerome Powell has a clear message for investors: Don’t stress. We’ve got this. What’s happening: At a press conference Wednesday, Powell reiterated that the central bank does not plan to roll back its massive stimulus efforts until the economic recovery from the pandemic is complete. Wall Street cheered his remarks, sending stocks […]

Senior officials from the United States and China are meeting in person on Thursday for the first time since US President Joe Biden took office. But progress toward solving major economic sources of strain — including disputes over tech and trade — is unlikely. US Secretary of State Tony Blinken and National Security Adviser Jake […]

Pinduoduo’s founder stepped down suddenly this week, shaking investors who had watched him take the Chinese e-commerce company from nothing to a potential Alibaba competitor in less than a decade. Colin Huang’s decision to resign as chairman wasn’t a complete surprise. The 41-year-old entrepreneur already quit as CEO last summer, and was expected to eventually […]

The US airline industry hit a dubious milestone this week: For the first time since the pandemic began, air travel is up from a year ago. That’s a positive sign for battered airlines and a potentially worrying sign to health experts. But it’s also an incredibly low hurdle to clear. About 1.1 million people passed […]

Virgin Group founder Richard Branson is calling for a permanent end to capital punishment around the globe, and he wants more business leaders to get on board. The 70-year-old British billionaire announced a new campaign to build support for abolishing the death penalty at a virtual South By Southwest event Thursday. “I have always thought […]

Will crude oil prices continue their recent dramatic boom as the pandemic recovery takes hold? Perhaps not. The International Energy Agency said Wednesday that it does not expect oil to enter a “supercycle,” or extended period during which prices rise well above their long-run trend. “Oil’s sharp rally to near $70 per barrel has spurred […]