In the worst year for stocks since the Great Recession, several big names are headed for their worst year on record with just one trading day left in 2022. The S&P 500 index SPX, +1.75% and Dow Jones Industrial Average DJIA, +1.05% are both headed for their worst year since 2008, with declines of 20.6% … Read more
As 2022 winds down and investors reflect on a horrendous year, they can take some comfort in the fact that the big guys had their share of misses. Among them is Harris Kupperman, the president of hedge fund Praetorian Capital, who recently blogged about his 2022 calls he nailed — a selloff of big tech … Read more
3M Co. MMM -1.08% said it would stop making so-called forever chemicals and cease using them by the end of 2025, as criticism and litigation grow over the chemicals’ alleged health and environmental impact. 3M Chief Executive Mike Roman said that the decision was influenced by increasing regulation of the chemicals known as PFAS, and … Read more
Want to make the most of the money you’ve saved for retirement, or would you like to maximize your benefits? There are plenty of insightful books to shed light or provide alternative perspectives on all aspects of this next chapter in life. Retirement Tip of the Week: In preparation for the new year, and all … Read more
Amid the rising cost of living and higher taxes, top hedge fund talent is moving away from financial centres like London and New York to the UAE, Saudi Arabia, Kuwait, and Bahrain, according to headhunters. This year, global hedge funds such as All Blue Capital and ExodusPoint Capital Management opened offices in Dubai. All Blue … Read more
WASHINGTON—The Senate passed by unanimous consent a bill that would ban federal employees from downloading or using the social-media app TikTok on government devices, in the face of mounting national-security concerns. The legislation would still have to pass the House and be signed by the president to become law. A similar bill passed the Senate … Read more
The technology sector’s grip on the top spots in the annual Management Top 250 ranking slipped this year. Microsoft Corp. held its ground, ranking No. 1 in this measure of the best-run companies in the U.S. for the third straight year. But unlike last year, when tech companies took the first five spots in the … Read more
German authorities on Wednesday said they had dismantled a domestic far-right terrorist cell inspired by the QAnon conspiracy on suspicion of planning to overthrow the government. Of the 25 people arrested in the early hours of the day, 22 are suspected of conspiring to foment a coup, the country’s federal prosecutor said. Their alleged plans … Read more
Meta Platforms Inc. has long given unfair deference to VIP users of its Facebook and Instagram services under a program called “cross check” and has misled the public about the program, the company’s oversight board concluded in a report issued Tuesday. The report offers the most detailed review to date of cross check, which Meta … Read more
Restaurant and trade groups said they have submitted enough voter signatures for a ballot measure to try to halt the implementation of a new California law that would set minimum hourly wages for fast-food workers in the state starting next year. A coalition of restaurant owners and business groups called Save Local Restaurants said Monday … Read more