After weeks of virtual dormancy, a bona fide stock-market selloff took hold on Wall Street. Both the S&P 500 index SPX, -2.45% and the Dow Jones Industrial Average DJIA, -2.13% plunged below their 50-day moving averages…
Finance
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GM Recalls 4.3 Million Vehicles Over Air-Bag Related Defect…
General Motors Co (GM.N) said on Friday it will recall nearly 4.3 million vehicles worldwide due to a software defect that can prevent air bags from deploying during a crash…
Wells Fargo Opened a Couple Million Fake Accounts…
Two basic principles of management, and regulation, and life, are–1. You get what you measure and 2. The thing that you measure will get gamed…
Oil Markets Brace As U.S. Looks To Sell 100 Million Barrels From SPR…
The U.S. has stored roughly 700 million barrels of crude oil in salt caverns in Texas and Louisiana for decades. The SPR was established in the aftermath of the Arab oil embargo in 1973…
Caterpillar Hires H-1B Foreign Graduates, Fires 300 American Professionals…
Caterpillar is firing 300 American employees in Mossville, Illinois, even though it is continuing to recruit and pay foreign “H-1B” guest-workers to do the white-collar jobs sought by American…
Good Riddance: 6 Facts About The ITT Tech Shut Down…
One of the nation’s biggest for-profit colleges, ITT Tech, announced that it has permanently shut down its academic operations and fired 8,000 employees…
Database Reveals U.S. as Financial House of Horrors Since Repeal of Glass-Steagall Act…
Wall Street banks are intended to function as efficient allocators of capital to grow new businesses and industries in America. But since the Glass-Steagall Act was repealed in 1999…
A Message to Working People From a Former Labor Secretary…
Your typical wage is below what it was in the late 1970s, in terms of what it can buy. Two-thirds of you are living paycheck to paycheck. Almost 30 percent of you don’t have steady employment…
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G20: Revamping Global Economic Governance…
When the Group of 20 (G20) leaders gather in China seeking a remedy for sluggish global economic growth, something equally consequential will also be on the table: revamping global economic governance…
Why Walmart Is Cutting 7,000 Jobs at Its Stores…
Walmart will cut some 7,000 accounting and invoicing positions within its U.S. stores as the discount retailer redeploys workers to improve in-store customer service…
Apple Travesty Is a Reminder Why Britain Must Leave the Lawless EU…
Europe’s Competition Directorate commands the shock troops of the EU power structure. Ensconced in its fortress at Place Madou, it can dispatch swat teams on corporate dawn raids…
THE COURT THAT RULES THE WORLD – A LOOK INSIDE TPP’S SUPRA JUDICIAL SYSTEM…
A parallel legal universe, open only to corporations and largely invisible to everyone else, helps executives convicted of crimes escape punishment…
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The Central Banks Are Now Ready To Launch Their ‘Brave New World’…A Must Read…
The latest Federal Reserve meeting in Jackson Hole, Wyoming, is over and so far it would seem that the general investment world is not too happy about Janet Yellen’s statements…
“If You Own a Home in Palo Alto, CA, Sell it Now”…
But if I were out there giving financial advice and charging an arm and a leg for it, it would sound like this: “If you own a home in Palo Alto, sell it now”…
Wall Street’s Protection Racket: Mandatory Arbitration…
What people across Wall Street cannot figure out is why the Board of JPMorgan Chase didn’t sack its CEO, Jamie Dimon, at some point between the bank’s first two felony counts in 2014 and…
End of the Private Sector? Japanese Government Now Largest Shareholder of 474 Big Companies…
Illinois AG Sues Insys Therapeutics Over Deceptive Marketing Practices of ‘Opiod’ Products…
In a lawsuit filed by the state of Illinois, Insys Therapeutics Inc. has been accused of deceptive marketing practices involving a cancer drug and using “sham” speaking…
First Germany, Now France…Calls to End TTIP Negotiations with U.S….
Trade talks between the European Union and the United States should be halted and a new set started, France’s trade minister said on Tuesday, adding his voice to calls…
Jeff Bezos’ Washington Post: Import Foreign Workers to Replace Spoiled Americans…
Jeff Bezos’ Editorial Board at the Washington Post is complaining that there aren’t enough Americans who want to work low-end jobs, so the government needs to import more foreign replacements…
J-Holed: Stocks Slide After “Good” Yellen, “Bad” Powell, & “Ugly” Fischer…
Yellen was hawkish but offered some dovish hope, Fischer dashed that hope, and Powell piled on… (Once again it seems VIX 14 was the target)…
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