Wall Street slumps on global growth worries
Wall Street fell sharply for the fourth straight day on Thursday after the Federal Reserve highlighted global growth concerns.
MONEY (MSM)
Why the Fed might still hike rates in September: Citi
The Fed’s July minutes might have tweaked expectations for a rate hike but, as they are digested, some argue the Fed is still on track for September.
FDIC sues Citigroup, 2 other banks over soured mortgage-backed securities
The FDIC, a U.S. bank regulator, has sued three large U.S. banks to recoup some of the more than $695 million it lost from selling shoddy residential mortgage-backed securities once owned by a Texas bank that failed in 2009. Lawsuits stemming from the FDIC’s role as receiver for Austin-based Guaranty Bank, which had bought more than $2.7 billion of the securities, were filed against Citigroup Inc , Bank of New
US home sales soar in July to fastest pace since early 2007
Americans stepped up their home-buying for a third straight month in July, as sales accelerated to the strongest pace in eight years. The National Association of Realtors said Thursday that sales of existing …
Popular foods taking on new hues without artificial dyes
Mozzarella cheese at Panera restaurants won’t be as glaringly white. Banana peppers in Subway sandwiches won’t be the same exact shade of yellow. Trix cereal will have two fewer colors. Food makers are …
Valeant to spend about $1B on maker of women's libido drug
Valeant Pharmaceuticals will pay about $1 billion to buy Sprout Pharmaceuticals, the maker of the first prescription drug intended to boost sexual desire in women. The deal announced Thursday comes a day …
Home sales near eight-and-a-half-year high, brighten outlook
U.S. home resales rose to a near 8-1/2-year high in July and factory activity in the mid-Atlantic region picked up this month, fresh signs of steady economic growth that likely keeps the Federal Reserve on track to raise interest rates this year. While other data on Thursday showed a slight increase in the number of Americans filing new applications for unemployment benefits last week, the trend remained consistent with strong
New Target COO's headache: Too few goods to keep shelves filled
Two days after being promoted to the new position of Target Corp’s Chief Operating Officer, John Mulligan’s big job is clear: fix a supply chain that the company blamed for shortages of goods that are undermining sales growth. On Wednesday, the fourth-largest U.S. retailer blamed its “incredibly complex supply chain” for unacceptable stock levels at its stores this year, forecasting weak growth in current quarter sales at established stores. The
Fed may have just gotten a red light for rate hike
The Federal Reserve got a little more breathing room Wednesday from the push to raise interest rates in September.
Dow falls 225 points, Nasdaq below 5K as China & oil weigh
U.S. stocks traded lower after a wild trading session in China and ahead of the release of the Federal Reserve’s July meeting minutes.