Wall Street

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A Messy #MeToo Case May Be a First for Wall Street
A Messy #MeToo Case
May Be a First for Wall Street
IN CASE YOU MISSED IT
Aug 18, 2019 6:42 AM CDT

A Messy #MeToo Case May Be a First for Wall Street

Sara Tirschwell's fight against TCW could be the first one to go to trial

(Newser) - Wall Street is on track to have its first sexual harassment case in the #MeToo era reach the courtroom. And while most cases of this nature are messy legal affairs, this one involving Sara Tirschwell's allegations against a supervisor at TCW is especially so, writes Anna Silman at the...

Wall Street&#39;s 2-Week Slide Continues
Dow Falls Nearly 400 Points
MARKETS
Aug 12, 2019 3:18 PM CDT

Dow Falls Nearly 400 Points

Wall Street's 2-week slide continues

(Newser) - Banks and technology companies led stocks broadly lower on Wall Street, extending a two-week slide brought on by escalations of the trade conflict between the US and China that investors fear will slow down the global economy, reports the AP . The Dow Jones Industrial Average fell almost 400 points Monday....

Dow Down 98 Over Trade Worries
Dow Down 98
Over Trade Worries
MARKETS
Aug 2, 2019 3:15 PM CDT

Dow Down 98 Over Trade Worries

S&P 500 loses 3.1% for the week

(Newser) - Stocks are closing out their worst week of the year as traders worry that President Trump's escalating trade war with China could damage the economy. Technology stocks came under the heaviest selling pressure Friday. Apple lost 2.2% and Broadcom gave back 2.4%. Safe-play stocks did relatively well...

It&#39;s a Bad Day for Netflix
It's a Bad Day for Netflix
markets
Jul 18, 2019 3:21 PM CDT

It's a Bad Day for Netflix

But overall, stocks closed mostly higher

(Newser) - Stocks shook off early losses and closed mostly higher on Wall Street as technology and bank stocks rallied Thursday, the AP reports. IBM rose 4.5% Thursday after reporting solid results. The company, along with Apple, helped lift the technology sector to lead the broader gains. Banks led financial stocks...

In Rare #MeToo Case, One Side Is Lying

Sara Tirschwell sues her old boss at TCW Group Inc

(Newser) - Sara Tirschwell says she feels used, and is willing to fight back—to the tune of at least $30 million. The investor worked at a powerful Wall Street asset management firm called TCW Group Inc, where she claims her boss pressured her into sex and abandoned her to the wolves...

Amazon Revenue Dampens the Party
Amazon Revenue
Dampens the Party
markets
Feb 1, 2019 3:20 PM CST

Amazon Revenue Dampens the Party

But on the bright side, US hiring was good

(Newser) - Stocks held on to tiny gains at the end of an up-and-down day of trading on Wall Street, the AP reports. Major indexes were higher for much of the morning as investors applauded the latest burst of hiring by US employers. The enthusiasm was tempered, however, by a disappointing revenue...

Report: Ride-Hailing Firm Plans a Huge Change

Uber could issue IPO in early 2019

(Newser) - Ride-hailing giant Uber has filed confidential preliminary paperwork for selling stock to the public, the AP reports. That's according to a report late Friday in the Wall Street Journal . Citing people familiar with the matter whom it did not identify, the Journal says San Francisco-based Uber Technologies Inc. filed...

Wall Street Pay Seems to Have Long Forgotten Recession

Average salary for those in the NYC securities industry in NYC: $422,500, highest in a decade

(Newser) - If you've been fretting over how the folks on Wall Street are doing lately, rest easy: The New York state comptroller says they're fine. Better than fine, actually, per Thomas DiNapoli, who notes the average securities-industry salary in New York last year rose 13%, to $422,500 (with...

Trump Just Proposed a Huge Change for Corporate America

He asks the SEC to do away with quarterly earnings reports, move to twice a year

(Newser) - Amid another busy morning on Twitter, President Trump proposed what would be a historic shift for corporate America. He asked the SEC to do away with the requirement that publicly traded businesses file quarterly earnings reports, per the Wall Street Journal . Instead, Trump floated the idea of twice-yearly reports. "...

Former Summer Intern Makes Stock Exchange History

Stacey Cunningham will be first woman to lead the NYSE in its 226-year history

(Newser) - The New York Stock Exchange for the first time in its 226-year history will be led by a woman, as Stacey Cunningham will become the 67th president of the Big Board, per the AP . That means that two of the world's most well-known exchanges will be led by women....

Icahn Dumps $31M in Shares Before Steel Tariff Unveiled

Former Trump adviser apparently saw it coming

(Newser) - Billionaire investor Carl Icahn—who once worked as a "special adviser" to President Trump—dumped about $31 million of shares in a company that depends on steel imports just days before Trump announced tariffs on steel imports, the Guardian reports. On February 12, Icahn began selling his shares in...

Tax Overhaul Worries Leave Wall Street Mixed
Tax Overhaul Worries Leave
Wall Street Mixed
MARKETS
Dec 4, 2017 3:31 PM CST

Tax Overhaul Worries Leave Wall Street Mixed

Questions about which companies will benefit led to ups and downs

(Newser) - It was a mixed day on Wall Street as investors pondered which companies would be winners and losers if a Republican-sponsored tax overhaul goes through, the AP reports. Indexes were mostly higher early in the day Monday but wound up with an uneven close after drops in technology and health...

Dow Crosses 24K for First Time
Dow Crosses 24K for First Time
Nov 30, 2017 8:53 AM CST

Dow Crosses 24K for First Time

November looks like it'll end on a high note

(Newser) - A couple of hours before the stock market opened, President Trump tweeted , "Stock Market hits new Record High. Confidence and enthusiasm abound. More great numbers coming out!" He was right: The Dow Jones Industrial Average crossed the 24,000 threshold for the first time, and the S&P...

Oil Prices Dip, Pulling Stocks Down With Them
Oil Prices Dip, Pulling
Stocks Down With Them
MARKETS
Nov 27, 2017 3:24 PM CST

Oil Prices Dip, Pulling Stocks Down With Them

More stocks fell than rose today on Wall Street

(Newser) - A slide in crude oil prices weighed on energy companies, pulling US stock indexes mostly lower on Wall Street, the AP reports. Marathon Oil slumped 4.3% and Newfield Exploration lost 3.3%. Industrial companies and utilities rose, while retailers posted solid gains on reports the holiday shopping season is...

Dow Makes History
Dow Makes History
Oct 17, 2017 10:45 AM CDT

Dow Makes History

It reaches 23K for the first time

(Newser) - Expect some presidential tweets after this: The Dow reached 23,000 for the first time in its history Tuesday morning. President Trump has been boasting of late about the stock market's rise during his presidency, and MarketWatch reports that the most recent surge seems to be tied to Wall...

Firm Behind 'Fearless Girl' Pays Ironic Fine

Though it says it disagrees with allegations of a gender pay gap

(Newser) - The financial services firm behind Wall Street's "Fearless Girl" statue agreed to pay $5 million to settle federal allegations that it paid female executives less than their male counterparts, the AP reports. The agreement followed a US Department of Labor probe into Boston-based State Street Corporation. Investigators said...

Obama Makes Big Money With Wall Street Speeches

Bloomberg reports on 3, with his going rate about $400K per speech

(Newser) - Barack Obama took flak earlier this year when it emerged that he would collect a handsome $400,000 fee for speaking at an event for investment bank Cantor Fitzgerald. It appears that the criticism isn't fazing him much. Bloomberg reports on two more Wall Street speeches for the former...

Dow's Latest Feat: Topping 22K, Thanks to Apple

After hitting 21K on March 1

(Newser) - The Dow Jones Industrial Average traded above 22,000 for the first time at the open on Wednesday, and MarketWatch gives some context: Should it close above that mark, it would be the third 1,000-point milestone in a year, the most the Dow has achieved in that span. (Though...

Meet the Man Who Kills Stock Values for Fun and Profit

If Andrew Left writes about a company, its stock drops 10% on average

(Newser) - Andrew Left made $280,000 in two hours by short-selling stock in a Chinese real estate company, then publishing claims the company was committing accounting fraud. Shortly after the 2016 election, Left issued a series of tweets about a company called Express Scripts, accusing it of inflating drug prices; the...

Newest Statue on Wall Street: 'Pissing Pug'

It's a response to 'Fearless Girl,' which was a response to 'Charging Bull'

(Newser) - For months, "Fearless Girl" has stood in defiance of a famous 11-foot bull statue in Manhattan. But its message of female empowerment was a bit dampened Monday. In protest of the 4-foot statue of a young girl, artist Alex Gardega erected a small statue of a dog urinating next...

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