Whether your holiday season comes with flight delays, a long road trip or a rare day with space on your calendar, it’s likely you’re about to have some free time. If you’d like to use it to get a little smarter about deals and the economy — and perhaps even enjoy yourself in the process […]
Category Archives: Business
Wall Street strategists are issuing forecasts for the performance of the stock market in 2024. Pay them no mind. The predictions are usually wrong, and when they’re right it’s only by accident. Consider their prophecies for 2023. At the end of 2022, strategists predicted that the S&P 500 would end 2023 at 4,078, a gain […]
Raymond L. Dirks, a maverick Wall Street analyst who was accused of insider trading by securities regulators but then vindicated by the U.S. Supreme Court as a whistle-blower in a major fraud, died on Dec. 9 in Manhattan. He was 89. His death was confirmed by his brother, Lee. He died in a nursing home, […]
Bristol Myers Squibb, the global pharmaceutical giant, said on Friday that it would acquire Karuna Therapeutics, which makes drugs to treat schizophrenia and Alzheimer’s, in an all-cash deal valued at $14 billion as it looks to strengthen its pipeline of neuroscience drugs. Bristol Myers said in a statement that it would pay $330 per share […]
Irwin Cohen, an inventive developer who transformed a derelict factory where the first Oreo cookie was produced in 1912 into Chelsea Market, an exuberant 21st-century food bazaar that helped revitalize a New York City neighborhood, died on Monday in Manhattan. He was 90. The cause of death, in a hospital, was pneumonia, his son-in-law Blair […]
A closely watched measure of inflation cooled notably in November, good news for the Federal Reserve as officials move toward the next phase in their fight against rapid price increases and a positive for the White House as voters see relief from rising costs. The Personal Consumption Expenditures inflation measure, which the Fed cites when […]
The Washington Post reached a deal on Friday for a new contract with the union representing the majority of its unionized employees, bringing an end to 18 months of bellicose negotiations that included a one-day work stoppage. The tentative agreement, if ratified, would give all employees represented by the union an immediate raise of $30 […]
The Biden administration announced plans to crack down on banks and financial services firms that are helping Russia evade strict sanctions on access to military technology and equipment that are aiding its war against Ukraine. The move, announced on Friday, comes after attempts by the United States to curb Russia’s access to supplies that it […]
BYD, China’s electric-vehicle juggernaut, said Friday it would build an assembly plant in Hungary, its first production facility for battery-powered cars in Europe and the latest sign of the company’s ambitious plans to expand beyond Asia. BYD is already the world’s largest maker of electric vehicles, most of them sold in China, and has begun […]
Rite Aid, the pharmacy chain, used facial recognition technology to falsely and disproportionately identify people of color and women as likely shoplifters, the Federal Trade Commission said on Tuesday, describing a system that embarrassed customers and raised new concerns about the biases baked into such technologies. Under the terms of a settlement, Rite Aid will […]