Saudi Arabia pumped close to a record amount of crude oil last month, leading the biggest surge in OPEC output in almost four years just as the U.S. shale boom shows signs of slowing, the International Energy Agency said. The Organization of Petroleum Exporting Countries may extend its biggest output gain since June 2011 into next month as recovery in Libya and Iraq adds to the Saudi increase, the IEA
A federal appeals court has ruled that Wal-Mart can exclude from its 2015 proxy statement a shareholder’s proposal to review the sale of some guns. The appeals court in Philadelphia on Tuesday reversed …
The European Union’s competition chief is expected to file a complaint on Wednesday alleging Google has been abusing its dominance in Internet searches. After days of rising speculation, the EU said that …
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Framing himself as a politician who’s unafraid to share “hard truths” with the American people, New Jersey Gov. Chris Christie is proposing an income cap on Social Security benefits as part of …
It’s earnings season, and a strong dollar means CEOs citing currency headwinds, but investors should stick to plans and remain diversified.
The shale oil boom that pushed U.S. crude production to the highest level in four decades is grinding to a halt. Output from the prolific tight-rock formations such as North Dakota’s Bakken shale will decline 57,000 barrels a day in May.
The municipal bankruptcies in Detroit and Stockton, California, may foretell more widespread problems in the United States than is implied by current bond ratings, a top Federal Reserve official said on Tuesday. “While these particular bankruptcy filings have captured a considerable amount of attention, and rightly so, they may foreshadow more widespread problems than what might be implied by current bond ratings,” New York Fed President William Dudley said at
Big banks should turn in reasonably good earnings in the first quarter, but regional banks will report only mediocre results, analyst Dick Bove says.
The bank’s strong results bolstered Chief Executive Jamie Dimon’s argument that size and diversification are advantages, not a reason to break up the bank. Some analysts have suggested JPMorgan should be broken up to reduce capital requirements and complexity. JPMorgan’s revenue from trading fixed income, currencies and commodities (FICC) by 5 percent to $4.07 billion in the first quarter. The strong investment banking results helped boost JPMorgan’s shares as much
