Former Defense Secretary Mattis rejoins General Dynamics board
Former U.S. Defense Secretary Jim Mattis rejoined the board of General Dynamics Corp on Wednesday, seven months after quitting his job in the Trump administration over disagreements about foreign policy, the defense contractor said.
Oil dives 4% to seven-month low on surprise U.S. stock build, trade war
Oil prices tumbled more than 4% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington’s escalating trade war with Beijing.
Ryanair’s UK pilots vote to strike later this month
Members of Ryanair’s British pilot union voted on Wednesday in favor of strike action later this month in a dispute over working conditions, the British Airline Pilots Association (BALPA) said.
New York Times forecasts weakness in digital ads, shares down 12%
The New York Times Co fell short of Wall Street estimates for revenue on Wednesday and warned of declines in digital advertising for the rest of the year, sending its shares down 12%.
Wall Street retreats as bond market fuels recession fears
U.S. stocks fell on Wednesday, as investors reeling from rising trade tensions fled riskier assets for perceived safer havens and the bond markets signaled a higher risk of recession.
GM wins victory in ignition switch defect lawsuits
General Motors Co persuaded the U.S. federal judge who oversees nationwide litigation over defective ignition switches to narrow claims by owners who said their vehicles lost value because of the defect, which has been linked to 124 deaths.
MMT may be Democrats’ economic cure, but only Trump got the memo
From her home overlooking Setauket Harbor on Long Island’s North Shore, a motorboat bobbing at the dock, Stephanie Kelton hopes to revolutionize how the U.S. government manages the economy.
Explainer: Five questions about Modern Monetary Theory
Like famed economist John Maynard Keynes, Modern Monetary Theory advocates think government has an important role in offsetting what happens when demand falls short of what’s needed to keep everyone who wants a job employed. They draw also on the ideas…
FedEx ends ground delivery partnership with Amazon
FedEx Corp confirmed on Wednesday it would terminate its contract with Amazon.com Inc for small-package ground deliveries, as the online retailer focuses on building out its own delivery network.
Wall Street drops as bond market stokes recession fears
U.S. stocks slipped on Wednesday, as investors reeling from rising trade tensions fled riskier assets for perceived safer havens, leading the bond market to price in a slide into recession.
