LONDON (Reuters) – Wall Street giant JPMorgan (JPM.N) has hired Britain’s former finance minister Sajid Javid as a senior adviser, the bank said on Monday, a move that sees the politician resume his career in investment banking. Javid quit his role in government earlier this year after falling out with Prime Minister Boris Johnson during […]

NEW YORK (Reuters) – U.S. states claimed they are owed $2.2 trillion to address harm from OxyContin maker Purdue Pharma LP’s alleged role in America’s opioid epidemic, accusing the drugmaker in new filings of pushing prescription painkillers on doctors and patients while playing down the risks of abuse and overdose. In filings made as part […]

Students and their families often focus on tuition and fees when budgeting for college. But there are costs that typically do not appear on college bills, and they can add up – costs such as books, laptop computers, transportation, off-campus housing and meals. These indirect costs can make up half or more of the cost […]

SINGAPORE (BLOOMBERG) – Standard Chartered  is planning its second digital-only bank in Asia, teaming up with NTUC Enterprise, according to people familiar with the matter. The London-based bank would hold a majority stake in the new venture, with the remainder held by NTUC Enterprise, said the people who asked not to be identified as the matter […]

(Reuters) – Hertz Global Holdings Inc (HTZ.N) Chief Financial Officer Jamere Jackson has resigned from his post, the bankrupt car rental company said on Friday. Jackson will be replaced by Chief Accounting Officer Eric Esper, effective Aug. 14, the company said in a regulatory filing www.sec.gov/ix?doc=/Archives/edgar/data/47129/000110465920095605/tm2027700-1_8k.htm. Hertz said Jackson, who also stepped down from his […]

(Reuters) – The S&P 500 closed nearly flat on Friday despite coming close again to its record closing high, as data on the U.S. economy added to uncertainty over the recovery. Aggressive stimulus measures have helped the three main U.S. stock indexes bounce back from a coronavirus-driven crash in March, and the S&P 500 briefly […]

(Reuters) – Even with nearly a fifth of the labor force collecting unemployment benefits in July, Americans continued spending with relative gusto, driving retail sales back to pre-coronavirus levels as they shifted shopping online, brought their food home, and stocked up on new appliances. The downside: It was government money they spent, and that is […]

BEIJING (Reuters) – China’s retail sales slipped in July, dashing expectations for a modest rise, as consumers in the world’s second-largest economy failed to shake off wariness about the coronavirus, while the recovery in the factory sector struggled to gain momentum. Asian markets pulled back on Friday following the disappointing set of economic indicators, which […]

NEW YORK (Reuters) – The We Company, owner of WeWork, told employees on Thursday that it cut its cash burn rate almost in half to $671 million from the end of last year and obtained a $1.1 billion commitment in new financing from majority owner SoftBank (9984.T). WeWork said in an e-mail to employees discussing […]

WASHINGTON (Reuters) – Increased transfer payments and expanded liquidity measures aimed at companies should help buffer U.S. households and businesses from the worst of the economic crisis unleashed by the coronavirus pandemic in coming months, the White House Council of Economic Advisers said in a report on Thursday. Nonetheless, the economy would recover faster and […]