• Bank profits soar to record $56 billion on tax cuts

    Bank profits soared to a record $56 billion in the first three months of 2018, federal regulators announced Tuesday, as tax cuts stoked the already hot industry. Profits would have been a record even if banks’ tax rates had remained the same, Federal Deposit Insurance Corporation Chairman Martin Gruenberg...
  • US stocks edge higher as technology companies, banks rise

    NEW YORK (AP) — Technology companies and banks are rising Tuesday morning as U.S. stocks head higher for the second day in a row. Automakers are climbing after China said it will reduce auto import duties, another sign the two powers are resolving some of their differences on trade....
  • For the first time in 226 years, woman to lead the NYSE

    NEW YORK – The New York Stock Exchange for the first time in its 226-year history will be led by a woman. Stacey Cunningham, who started her career as a floor clerk on the NYSE trading floor, will become the 67th president of the Big Board. That means that...
  • GM, Tesla shares rise after China says it will cut tariffs on car parts and vehicles

    A Chevrolet Equinox SUV is seen on the production line at SAIC-GM Wuhan Manufacturing Plant on April 7, 2017 in Wuhan, China. Auto stocks rose on Tuesday after China said it will slash import tariffs on some car parts and vehicles as part of ongoing trade negotiations with the...
  • House set to approve bank deregulation legislation

    Major banks — outside of money-center giants — are set to gain a measure of relief when the House of Representatives votes Tuesday on a deregulation bill. The bill, the Economic Growth, Regulatory Relief and Consumer Protection Act, not only will make the regulatory burden lighter but will help...
  • Tesla’s Model 3 Is Braking Bad, Says ‘Consumer Reports’

    Beset by bottlenecks that not only slowed its production, but also handed the company its biggest ever quarterly loss, Tesla’s Model 3 sedan has had to deliver on some big promises — beyond those given when it was announced to great fanfare and a staggering amount of preorders. So,...
  • Starbucks employees, customers express concern over new policy: ‘I can’t see how this will work’

    Starbucks announced a new policy Saturday that allows anyone to occupy the coffee shop or use the store’s facilities, even if they don’t buy anything, but many are left to wonder if it’ll have a negative impact. The “Third Place Policy” maintains that employees should consider anyone who enters...
  • The Latest: Trump defends US trade dealings with China

    WASHINGTON (AP) — The Latest on U.S.-China trade talks (all times local): 8:45 a.m. President Donald Trump is defending his administration’s trade dealings with China a day after his Treasury secretary said the two countries were putting a trade war “on hold.” Trump tweeted Monday: “China has agreed to...
  • Tax cut sparks record-setting $178 billion buyback boom

    1. It’s raining buybacks: Corporate America is throwing a record-setting party for shareholders. S&P 500 companies showered Wall Street with at least $178 billion of stock buybacks during the first three months of 2018, according to Howard Silverblatt of S&P Dow Jones Indices. That’s a 34% bump from last...