S&P plunges 1.5%, briefly back in correction; Dow falls 275 after jobs
U.S. stocks opened sharply lower as investors digested a key jobs report that could provide the Fed with enough support to raise rates.
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U.S. labor market shows some muscle despite slower job growth
U.S. job growth slowed in August, but the unemployment rate dropped to a near 7-1/2-year low and wages accelerated, keeping alive prospects of a Federal Reserve interest rate hike later this month. Nonfarm payrolls increased 173,000 last month after an upwardly revised gain of 245,000 in July, the Labor Department said on Friday. August’s gain was the smallest in five months as the factory sector lost the most jobs since
BlackBerry to buy rival Good Technology for $425 million
Canada’s BlackBerry Ltd (BB.TO) said on Friday it will buy rival mobile software provider Good Technology Corp (GDTC.O) for $425 million, to boost its ability to help corporate clients manage smartphones running on different operating systems. The cash deal may help BlackBerry, a one-time smartphone pioneer, win new customers for its services business, a priority as it shifts focus to device management software for enterprise customers. More than half the
Mall developer Taubman's $500 million art collection up for auction
Works by Pablo Picasso, Jackson Pollock and Amedeo Modigliani are going up for auction from the late U.S. mall developer A. Alfred Taubman’s collection, which is valued at more than $500 million, Sotheby’s said on Friday. The auction house said the more than 500 works stretching from antiquity to contemporary art make up the most valuable private collection ever offered at auction. The collection will be auctioned in New York
Lacker: It's Time for Fed to End Era of Zero Interest Rates
Federal Reserve Bank of Richmond President Jeffrey Lacker said it’s time for the central bank to end the era of record-low interest rates, now that the impacts from winter weather and energy prices have passed. “I am not arguing that the economy is perfect, but nor is it on the ropes, requiring zero interest rates to get it back into the ring,” Lacker said in the text of a speech
Obama Gains Leverage on Saudis as U.S. Oil Dependence Declines
The U.S.-Saudi relationship isn’t what it used to be. The U.S. needs a lot less of it from Saudi Arabia than it once did. Saudi Arabia isn’t the powerhouse it was when the U.S. and its gas-guzzling cars and industry demanded more and more imported crude.
Fired regulator: Brown pushed to waive oil safeguards.
California’s top oil and gas regulators repeatedly warned Gov. Jerry Brown’s senior aides in 2011 that the governor’s orders to override key safeguards in granting oil industry permits would violate state …
Investors buckle up for expected drop in China's forex reserves
Global investors are bracing for data next week that could show a big drop in China’s foreign exchange reserves as the central bank steps up its intervention to stabilise the yuan currency after its shock devaluation last month. China has been so surprised by the global market reaction to its devaluation that it is likely to keep the yuan on a tight leash in the near-term to head off fears
Chris Pratt Applauds Anna Faris' Unusual Potty Training Method—See the Adorable Pic of Their Son Jack!
There’s no better way to guarantee success than with a little bribery every now and then! Anna Faris and Chris Pratt seem to be in the throws of potty training their son Jack, but it…
The Avengers: Age of Ultron Bloopers Are Chock Full of Bleepin' Zaniness—Watch the Gag Reel!
Assemble! *Bleep* We’ve already stated how much we want to hang out with the cast of The Avengers: Age of Ultron and after watching their gag reel, we want to hang out with them…