Alex Tovstanovsky, owner of used-car dealer Prestige Motor Works, checks on inventory with his general manager Ryan Caton in Naperville, Illinois, May 28, 2020. Nick Carey | Reuters DETROIT — The Federal Reserve’s decision to cut interest rates for the first time in more than four years is expected to eventually boost new vehicle sales, … Read more
Wall Street closed its latest winning month and quarter with more records on Monday. The drift higher for U.S. stocks followed a wild start to the week for financial markets in Asia, where Japanese stocks tumbled and Chinese indexes soared. The S&P 500 climbed 0.4% to an all-time high and clinched its fifth straight winning … Read more
Getty Images A dockworkers’ strike is set to shut down ports across much of the US indefinitely, threatening significant trade and economic disruption ahead of the presidential election and the busy holiday shopping season. Tens of thousands of members of the International Longshoremen’s Association (ILA) are preparing to walk out on Tuesday at 14 major … Read more
The Boar’s Head Virginia plant responsible for a massive listeria outbreak was a cesspool of mismanagement that targeted those who spoke up about unsanitary and unsafe conditions, former workers told The Post. Last week, the CDC reported that an unidentified person from New York state became the 10th person to die from the listeria outbreak … Read more
Hedge fund mogul Larry Robbins will meet with executives at struggling drugstore chain CVS on Monday to present a turnaround plan that the Glenview Capital founder hopes will improve the firm’s operations, according to a report. Robbins, 55, made his name with a 2012 bet on health companies that he thought would benefit from Obamacare … Read more
Harvard University’s endowment ranks second-to-last among Ivy League schools in annualized returns over the last 20 years after soaring success in the 1990s and early 2000s, according to a report. Cornell, the Ithaca, NY-based school, is the only Ivy League university that has reported a lower 20-year annualized return than Harvard, according to Bloomberg News. … Read more
The US economy seems poised for a continued slowdown in inflation that will allow the Federal Reserve to cut its benchmark interest rate and “over time” reach a level that is no longer holding back activity, Fed Chair Jerome Powell said Monday in remarks that showed no obvious lean towards a faster or slower pace of rate … Read more
Media Matters for America, a left-wing watchdog group, is mulling the purchase of Alex Jones’ InfoWars after a Texas judge ruled the outlet could be liquidated to pay the families of the victims of the 2012 shooting at Sandy Hook Elementary School, according to a report. Texas and Connecticut courts ruled that conspiracy theorist Jones … Read more
WASHINGTON — Federal Reserve Chair Jerome Powell signaled Monday that more interest rate cuts are in the pipeline, though their size and speed would depend on the evolution of the economy. Wall Street investors and economists are weighing whether the Fed will follow its larger-than-usual half-point cut made earlier this month with another hefty reduction … Read more
A McDonald’s in the United Kingdom missed signs of modern slavery for years while a human trafficking gang forced victims to work at the burger joint as well as a nearby bread factory, according to a report. Six members of a family-run gang from the Czech Republic have been convicted of forcing 16 victims to … Read more