The extra yield that Chinese government bonds offer over U.S. Treasurys this week dropped below a percentage point for the first time in nearly three years, as the central banks of the world’s two largest economies move in opposite directions. The narrowing gap, reflecting both a rally in Chinese bonds and a U.S. selloff, reduces […]
They are a jalopy badly in need of repairs, but America’s fuel-economy rules have been rolling along since 1975, burning more oil and spewing more pollution than their builders intended. Still, when it comes to one of the few roadworthy policies available, a tuneup makes more sense than a trip to the scrap heap. Many […]
China’s largest developer by contracted sales took advantage of a pickup in investor sentiment toward the property sector to sell convertible bonds, after deciding against pursuing a similar deal last week. Country Garden Holdings Co. said Friday that it had raised 3.9 billion Hong Kong dollars, the equivalent of $501 million, by issuing the securities […]
A group of China Evergrande Group’s EGRNF -7.50% international bondholders threatened to move forward with a legal enforcement plan that could potentially include liquidation of the company’s assets, after being unable to engage substantively with the troubled property developer for months. Advisers to the group on Thursday released a strongly worded statement accusing Evergrande of […]
Jamie Dimon, chief executive of JPMorgan Chase since 2005, has long batted away talk of leaving. Photo: Brian Snyder/Reuters Updated Jan. 20, 2022 5:08 pm ET JPMorgan Chase JPM -2.04% & Co. is paying Chief Executive Jamie Dimon $34.5 million for a record-breaking 2021, $3 million more than he made in the previous two years. […]
U.S. stocks gave up early gains and turned lower, extending a recent stretch of losses that have pulled major indexes down to start the year. The technology-heavy Nasdaq Composite shed 166.64 points, or 1.1%, to 14340.26. It finished the day 10.7% below its all-time closing high, set in November. A decline of greater than 10% […]
This should be a great year for U.S. home builders. Convincing investors of that might take time. Home building ended 2021 on a strong note; the Commerce Department on Wednesday reported that construction was started on a seasonally adjusted 1.7 million homes, at an annual rate, in December, up from November’s 1.68 million. In all of […]
Crude prices rose to their highest level since the 2014 shale-induced oil crash, a milestone in a rally that is gathering momentum as geopolitical tensions threaten to knock supply. Futures for West Texas Intermediate, the main grade of U.S. crude, added $1.61 per barrel, or 1.9%, to $85.43 on Tuesday. That marks the highest closing […]
U.S. stock indexes fell Tuesday and bond yields hit two-year highs as investors fretted over whether the Federal Reserve will raise interest rates more quickly and aggressively than expected. Investors, coming off a holiday weekend that had closed markets on Monday, sold stocks and bonds across the board. The S&P 500 slid 85.74 points, or […]
He came to fix Credit Suisse Group AG’s broken culture. Then he became part of the problem. António Horta-Osório was hoping for a slap on the wrist Sunday from the Credit Suisse CS -4.93% board for breaking coronavirus quarantine rules on trips to events, according to people familiar with his departure. Instead, he had to […]
