2 September, 2014 by The TZ Newswire Staff Comments Off on Euro continues descent ahead of ECB meeting
Euro continues descent ahead of ECB meeting
The euro’s descent saw it hit a new one-year low against the dollar on Tuesday, but the currency risks snapping back higher this week if the European Central Bank fails to back up its recent talk of stimulus …
2 September, 2014 by The TZ Newswire Staff Comments Off on Revel casino goes dark after just 2 years
Revel casino goes dark after just 2 years
Revel Casino Hotel opened with a bang a little more than two years ago amid high hopes of turning around Atlantic City’s struggling casino market. But the $2.4 billion resort went out with a whimper in …
2 September, 2014 by The TZ Newswire Staff Comments Off on Fast-Food Workers Seeking Raises to Strike in 150 Cities
Fast-Food Workers Seeking Raises to Strike in 150 Cities
Thousands of workers from restaurant chains including McDonald’s Corp. (MCD) and Yum! Brands Inc. (YUM)’s Pizza Hut are planning to rally on Sept. 4 for $15-an-hour pay and the right to form a union. In May, McDonald’s asked corporate employees to stay home after workers demonstrated at its Oak Brook, Illinois headquarters.
2 September, 2014 by The TZ Newswire Staff Comments Off on JPMorgan Operating Risk Rises With Past Seen as Prologue
JPMorgan Operating Risk Rises With Past Seen as Prologue
JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon has pledged billions of dollars to improve compliance and cybersecurity. Regulators can point to $23 billion of legal settlements last year and a cyber-attack discovered last month as they push JPMorgan to boost its buffer against unforeseen losses. Wall Street firms including Citigroup Inc. (C) and Bank of America Corp. (BAC) that together racked up more than $100 billion in post-financial crisis legal costs are facing similar pressures.
2 September, 2014 by The TZ Newswire Staff Comments Off on Identity Crisis in S&P 500 as Range of Valuations Narrows
Identity Crisis in S&P 500 as Range of Valuations Narrows
A measure of how much price-earnings ratios among the 50 biggest companies vary has fallen to almost the lowest on record, data compiled by Bloomberg show. Such rotations, which can be done with a click of a button using exchange-traded funds, show buyers are making too few distinctions among good and bad companies and could exacerbate selling once it begins, said Eric Schoenstein, co-manager of the $5.2 billion Jensen Quality Growth Fund.
2 September, 2014 by The TZ Newswire Staff Comments Off on Shares mostly higher, strong dollar buoys Japan
Shares mostly higher, strong dollar buoys Japan
World stocks were mostly higher Tuesday as investors awaited central bank meetings later this week in Europe and Japan as well as U.S. employment figures.
2 September, 2014 by The TZ Newswire Staff Comments Off on Dollar General sweetens bid for Family Dollar
Dollar General sweetens bid for Family Dollar
Dollar General is raising its all-cash bid for Family Dollar Stores to $80 a share, or about $9.1 billion.