Recession fears are on the rise in the United States. Memories of the last downturn are exacerbating these worries: The last time America faced a recession was in 2008, as the financial crisis was unfolding. Millions of people lost their jobs, GDP growth plummeted and businesses shut down. But not all recessions are like that.…… MORE
Wall Street could learn to love a President Pence. At least that’s what Raymond James thinks. The investment firm predicted that the bull market would keep going in the unlikely event that President Donald Trump decides to call it quits. “After the initial shock, we think the market rallies as Pence is a predictable, traditional,…… MORE
On Friday an English-language Ukrainian paper called the Kyiv Post made a splash on social media with an arresting front page. With a red headline, “Shady Cast of Characters: Engineers of Trump-Ukraine Scandal,” the entire front page was filled with photos of everyone allegedly connected to the scandal currently engulfing the Trump administration and Ukraine…… MORE
For Boeing, a very bad 2019 keeps getting worse. And potentially much more expensive. Boeing is already on record that it is counting on getting approval for its grounded 737 Max to fly again by the end of this year. But that apparently became more difficult Friday after the FAA demanded that the aircraft maker…… MORE
Jamie Dimon doesn’t think Libra, Facebook’s embattled cryptocurrency project, will ever get off the ground. “It was a neat idea that will never happen,” the JPMorgan Chase CEO said on Friday at an event organized by the Institute of International Finance, according to a video posted by CNBC. Libra has been criticized by politicians, raised…… MORE
The bad news keeps coming for Johnson & Johnson: The company on Friday announced a voluntary recall of its popular baby powder after some bottles were found to contain small amounts of asbestos. Shares of J&J fell 5%, making it the second worst-performing stock in the Dow Jones Industrial Average. The drop in J&J, along…… MORE
A group representing 250 UK luxury brands caught in the middle of a trade spat between the United States and the European Union is preparing to launch a charm offensive in New York. The trade mission led by industry body Walpole kicks off Monday. It was arranged before US tariffs on $7.5 billion worth of…… MORE
The Dow dropped some 250 points Friday, following a sharp drop in Boeing’s shares. Shares of Boeing, which has been hurt by the grounding of its bestselling 737 Max jet, dropped after the FAA and U.S. Department of Transportation said they are investigating whether the aircraft maker withheld information during the 737 Max’s certification process.…… MORE
Instead of paying interest on deposits, Swiss banks are starting to charge wealthy customers to stash their cash. Credit Suisse said Friday that the bank would apply a negative 0.75% interest rate to balances above 2 million Swiss francs ($2 million). This means that if an individual client or business holds 3 million Swiss francs…… MORE
Good things came in small sizes for Coca-Cola last quarter. The company reported sales that topped forecasts, thanks in part to a double-digit increase in volume for its 7.5-ounce mini cans. The smaller-sized cans appeal to more health-conscious consumers who are increasingly watching what they drink and eat but may not want to switch to…… MORE
