NEW YORK/LONDON—A gauge of global stock markets edged lower and the dollar built on earlier gains on Wednesday after U.S. consumer inflation surged to its highest since 1990, raising concern the Federal Reserve will tighten monetary policy sooner than expected. Real yields on U.S. Treasuries slid to record lows and gold prices reversed course to…
Stocks Slide, Dollar Gains as US CPI Sparks Tightening Fears
November 10, 2021
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Stocks Stalled as Oil Fuels Inflation Nerves
November 10, 2021
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SYDNEY—Asian stockmarkets were tugged lower by fresh concern about the solvency of China’s property developers on Wednesday, while a surging oil price added to worries that a hot U.S. inflation reading could renew pressure on policymakers to lift rates. Brent and U.S. crude futures extended gains into a fourth session, hitting two-week highs around $85…
Gun-Maker Remington Relocates Global Headquarters From New York to Georgia in $100 Million, 856-Job Deal
November 9, 2021
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Gun-maker Remington is to relocate its global headquarters from New York to LaGrange, Georgia, where it plans to open a “new advanced manufacturing operation” and “world-class research and development center,” the company announced on Monday. In a statement, the company, which is the United States’ oldest firearms manufacturer, said it plans to invest $100 million in the operation and…
Police Say Bomb Threats at 3 Elite US Universities Not Credible
November 8, 2021
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Police at three elite Ivy League universities in New York and Rhode Island gave the all clear and said activities could resume normally at the schools on Sunday after each received separate bomb threats. Several buildings were evacuated on the campuses of Cornell University in Ithaca, New York, Brown University in Providence, Rhode Island, and…
Futures Tick Higher After Congress Clears Infrastructure Bill; Tesla Falls
November 8, 2021
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U.S. stock index futures edged higher on Monday as big industrial firms were supported by the passage of a $1 trillion infrastructure bill, while Tesla fell on Chief Executive Elon Musk’s plan to sell about a tenth of his stake. Caterpillar Inc., Boeing Co., and 3M Co. rose between 0.5 percent and 3 percent in…
Dow Hits Record High as Infrastructure Bill Lifts Cyclicals
November 8, 2021
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The Dow hit a record high on Monday as the passage of a $1 trillion infrastructure bill lifted industrials, materials, and other economy-focused sectors, while Tesla fell on top boss Elon Musk’s plan to sell about a tenth of his stake. Five of the 11 major S&P 500 sector indexes were higher after the Congress…
Oil Gains After US Infrastructure Bill Passes, Chinese Exports Rise
November 8, 2021
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LONDON—Oil prices rose on Monday as positive signs for global economic growth supported the outlook for energy demand, while Saudi Arabia’s state-owned producer Aramco raised the official selling price for its crude. Brent crude was up by 91 cents, or 1.1 percent, at $83.65 a barrel at 1028 GMT, after dropping nearly 2 percent last…
Teachers’ Union Head Apologizes for Not Wearing Mask Indoors, Says People Had a ‘Hard Time Hearing’
American Federation of Teachers (AFT) President Randi Weingarten, whose organization advocated for mask mandates in pubic schools, apologized after she was caught with her mask down at the 2021 SOMOS conference in Puerto Rico. Weigarten faced criticism after Adriana Aviles, a New York City parent and former City Council candidate, posted a photo of the…
New York County Prosecutor Casts Doubt on Sex Offense Charge Against Cuomo
ALBANY, N.Y.—A prosecutor investigating accusations that former New York Gov. Andrew Cuomo groped a woman asked a judge for more time to evaluate the evidence, saying the criminal complaint filed last week by the local sheriff was “potentially defective,” according to a letter released Friday. The request from Albany County District Attorney David Soares throws…
Barclays Subpoenaed by US Virgin Islands Over Epstein Ties
November 6, 2021
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NEW YORK—The U.S. Virgin Islands has asked British bank Barclays to hand over information related to the late convicted sex offender Jeffrey Epstein, the bank said on Friday. Barclays received a subpoena in the United States from the U.S. Virgin Islands in February, the bank confirmed. “Barclays has already provided its response to this subpoena…
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