Wall Street’s main indexes opened higher on Friday on optimism that a deal to avoid a catastrophic U.S. debt default could be reached over the weekend. The Dow Jones Industrial Average rose 47.04 points, or 0.14 percent, at the open to 33,582.95. The S&P 500 opened higher by 6.10 points, or 0.15 percent, at 4,204.15,…
Disney Scraps Plans to Build $900 Million Florida Campus Amid DeSantis Feud, Cites ‘Changing Business Conditions;’
Disney is canceling plans to build a nearly $900 million corporate campus in Lake Nona, Florida, citing “changing business conditions.” Josh D’Amaro, chairman of Disney’s parks, experiences, and products division, announced the decision to scrap plans to build the campus, which would have housed roughly 2,000 employees, in an email to workers on May 18. The email was…
Stocks Lifted to Month High by US Debt Ceiling Hopes
May 19, 2023
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LONDON/SINGAPORE—Global shares hit a one-month high on Friday as markets reflected increased hopes of a U.S. debt ceiling deal that could avoid a potentially calamitous default. Europe’s STOXX 600 was up 0.7 percent, while e-mini futures for the S&P 500 rose 0.2 percent, following a 0.9 percent gain for the benchmark Wall Street index overnight….
Tucker Carlson Crushes Fox News in Latest Favorability Ratings
The popularity gap Tucker Carlson enjoys over Fox News among conservatives has widened sharply in the wake of his departure from the network, with a new poll putting Carlson’s net favorability rating a whopping 63 points over Fox. According to the survey from consulting agency Change Research, Carlson’s net favorability rating among Republicans stands at…
Morgan Stanley to Increase Paris Staff to 500 by 2025
PARIS—Morgan Stanley’s plan to increase headcount in France by 200 by 2025 would bring its total staff in the country to 500, with the new Paris-based bankers mostly devoted to sales and trading of so-called macro products and stock derivatives. Macro products usually refer to the trading of fixed income and currency-related securities. The investment…
HEICO to Buy Wencor for $2 Billion to Boost Aircraft Generic Parts Portfolio
Aerospace supplier HEICO Corp. said it will buy Wencor Group in a deal valued at $2.05 billion to boost its portfolio of generic parts. The deal, announced on Monday, comes at a time when airlines and aircraft repair shops in North America are increasingly relying on used and generic parts to keep jets flying, as…
More Than 30 Million US Drivers Don’t Know If They’re at Risk From a Rare but Dangerous Airbag Blast
DETROIT—More than 33 million people in the United States are driving vehicles that contain a potentially deadly threat: Airbag inflators that in rare cases can explode in a collision and spew shrapnel. Few of them know it. And because of a dispute between federal safety regulators and an airbag parts manufacturer, they aren’t likely to…
3M Fires Company Executive for Inappropriate Conduct Weeks After Promotion
WASHINGTON—3M has fired prominent company executive Michael Vale due to “inappropriate personal conduct and violation of company policy,” the maker of Post-it notes, industrial coatings and ceramics announced. Vale was promoted to group president and chief business and country officer just last month. Vale worked at 3M for more than 30 years, according to an…
Sam Zell, Billionaire Real Estate Investor, Dies at 81
Sam Zell, a Chicago real estate magnate who earned a multibillion-dollar fortune and a reputation as “the grave dancer” for his ability to revive moribund properties died on Thursday. He was 81. Zell died at home due to complications from a recent illness, according to Equity Group Investments, a company he founded in 1968. Bearded…
Aussie Business Groups Say Federal Labor’s Workforce Reforms Will Have Ramifications for Economy
Business groups that oppose Federal Labor’s proposed “same job, same pay” labour-hire laws say the proposal would contribute to workforce shortages, increased food prices, and the winding back of working conditions. Under the Fair Work Amendment (Same Job, Same Pay) Bill 2021, all workers employed through labour-hire companies will receive the same wage as employees…
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