Bill Ackman says Newell made ‘deal with the devil’ in Icahn agreement
Pershing Square Capital Management’s Bill Ackman said Sharpie pen maker Newell Brands made a kind of “deal with the devil” in appointing Carl Icahn’s board picks in March. “The company was so afraid of losing a proxy contest that they...
AMD and Caterpillar are among the stocks that could be big earnings season winners, according to Wall Street analysts
Analysts are raising their estimates aggressively on some industrial and semiconductor stocks into their earnings reports, a sign they could be big winners, according to analysis from MKM Partners. For example, American Airlines “epitomizes what we’re looking for,” Jim Strugger,...
Home prices have risen 114% since 1960 — here’s how much more expensive life is today
Today, everything from movie tickets to college tuition is more expensive, and not simply because of inflation. In a new study, Student Loan Hero examined just how much pricier things are for today’s young people than they were for their...
Debt could dissuade students, hurt US economy, says Fed official
Rising debt levels could dissuade potential students from pursuing education and from buying homes and other investments, harming the overall U.S. economy, a Federal Reserve official said on Tuesday. Philadelphia Fed President Patrick Harker called the labor market “fairly tight”...
Tax cut riches have gone to execs and investors over workers by nearly 3-to-1 margin
Employers appear to be using proceeds from corporate tax cuts to continue the practice of rewarding shareholders and executives over workers. In the first quarter of 2018, corporate America dedicated $305 billion to stock buybacks and cash takeovers compared with...
Fed’s Williams sees US inflation at or above goal for years
San Francisco Federal Reserve Bank President John Williams on Tuesday said he expects U.S. inflation to rise to the central bank’s 2 percent goal this year and stay at or above that goal for “another couple of years,” even as...
Utilities boost US industrial output in March, while factory growth was sluggish
U.S. industrial production rose 0.5 percent in March as a rebound in utilities from the prior month’s weather-related decline offset sluggish output of machinery and food products. The U.S. Federal Reserve’s measure of the industrial sector comprises manufacturing, mining, and...
Sterling and Euro Reverse Gains after Disappointing Data, Dollar Rebounds Broadly
Sterling and Euro strengthened earlier today but both reversed earlier gains after disappointing economic data. On the other hand, Dollar is trying to make a come back as buying accelerates in early US session. It’s more a coincidence than a...
Housing starts rebound, but single-family homebuilding remains weak
U.S. building of houses increased more than expected in March amid a rebound in the construction of multi-family housing units, but weakness in the single-family segment suggested the housing market was slowing. Housing starts rose 1.9 percent to a seasonally...
White House budget director Mick Mulvaney: The economy is doing better than we expected
White House budget director Mick Mulvaney told CNBC on Tuesday that economic growth is higher than what the Trump administration expected. Mulvaney was asked about the 2.9 percent GDP growth in theeconomy during the fourth-quarter. “We didn’t even think we...
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