Money

US stocks soared Monday, making up lost ground after a multi-day losing streak last week. The Dow closed 1.8%, or nearly 590 points, higher. The S&P 500 — the broadest measure of Wall Street — climbed 1.4%. The Dow snapped a five-day losing streak, its longest since January, while the S&P recorded its first gain

New York City Mayor Bill De Blasio addressed business economic recovery efforts for small businesses around the city by first acknowledging that Monday was the start of Amazon Prime Day. “Today’s Prime Day — it’s a perfect day not to shop Amazon, it’s a perfect day to keep it local, to buy from neighborhood stores,”

US stocks are rallying Monday, making up lost ground after a multi-day losing streak. The Dow surged more than 550 points, or 1.7%, in the early afternoon, and the S&P 500 — the broadest measure of Wall Street — was up 1.2%. The tech-focused Nasdaq Composite rose 0.7%. The Dow stands to snap a five-day

Britain’s fourth biggest supermarket chain Morrisons has become the takeover target of an American private equity firm in the latest sign of a strong appetite among investors for UK assets. Morrisons confirmed over the weekend that New York-headquartered Clayton, Dubilier & Rice last week made an unsolicited offer of £2.30 ($3.19) per share in cash

Lordstown Motors, the embattled electric truck startup, is facing more scrutiny after several of its top executives sold off millions in dollars of stock prior to its dismal first-quarter earnings report. Regulatory filings show five Lordstown executives, including its former chief financial officer and its current president, sold more than $8 million in stock in

Vivendi has agreed to sell 10% of Universal Music to a so-called blank check company backed by hedge fund billionaire Bill Ackman for about $4 billion. The deal was confirmed by Vivendi and Pershing Square Tontine Holdings, Ackman’s special purpose acquisition company (SPAC), in statements on Sunday. SPACs typically raise money from investors before going

It’s been 15 long months since millions of workers left their offices and set up makeshift desks at home. But as Covid-19 cases decline and more Americans get vaccinated, companies are beginning to establish protocols about how, and whether, office life will resume. For Wall Street banks, the growing consensus is that everyone ought to

China’s solar industry monopoly took a hit earlier this month when a new Ohio-based solar panel factory was announced. First Solar, the only US-headquartered major manufacturer of solar panels, is investing $680 million investment into the factory, and its technology is not dependent on the Chinese at all, according to CEO Mark Widmar. First Move’s

Traffic deaths soared in 2020 despite Americans driving less due to the pandemic, and Black Americans bore a disproportionate share of the increase in fatalities. The National Highway Traffic Safety Administration estimated earlier this month that 38,680 people died in motor vehicle crashes in 2020, the largest projected number of deaths since 2007, despite a

American Airlines is canceling hundreds of flights through at least mid-July as the company strives to maintain service in the midst of massively increasing travel demand while the coronavirus pandemic continues to recede in the United States, according to a spokesperson from the airline. “The first few weeks of June have brought unprecedented weather to

The stock market has been volatile, but it’s been a very solid year on -— and for — Wall Street. Stocks rebounded Monday after a big tumble last week, but the Dow remains up a robust 10% in 2021. Goldman Sachs is the top stock among the blue chips, surging 35%. Goldman isn’t the only