US stocks reached record highs on Friday as Wall Street’s outlook becomes crystal clear: With Covid-19 vaccines on the way, investors expect the economy to undergo a spectacular rebound next year, sending shoppers on a spending frenzy and padding corporate profits. Banks have issued a flood of 2021 forecasts reflecting this attitude, anticipating a sharp…… MORE
Two of the world’s premier financial information providers are combining. S&P Global is buying IHS Markit for $44 billion in stock. S&P Global is one of the leading providers of credit ratings, analytics and indexes used to assess the global financial markets. It provides a leading index of US home prices as well as the…… MORE
US sanctions have cut off Hong Kong Chief Executive Carrie Lam from the global banking system, the controversial political leader says, forcing her to stockpile cash. Lam on Friday told a local TV station in Hong Kong that she has been unable to access banking services since the United States blocked American individuals and companies…… MORE
Australia’s winemakers are scrambling to find new buyers around the world after China imposed hefty tariffs on the industry, effectively cutting it off from its most important export market. Beijing’s decision last week to impose tariffs of up to 212% on Australian wine imports has endangered business with mainland China, according to Tony Battaglene, CEO…… MORE
A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Trump is Trump. There’s nothing new to say about the man. But there is still lots to learn about his enablers. So many people, from GOP functionaries to Fox News hosts, are helping him to…… MORE
President Donald Trump on Sunday spoke with Fox News anchor Maria Bartiromo — his first TV interview since the election. The conversation was riddled with lies and conspiracy theories. Bartiromo opened the interview with a question about election fraud, telling Trump, “The facts are on your side.” Trump responded, falsey saying, “This election was a…… MORE
A vote on whether Swiss companies like Nestlé and Glencore should face greater liability at home for human rights and environmental abuses committed abroad is set to fail after a divisive campaign. While provisional results from the government Sunday showed that more than 50% of voters approved of the Responsible Business Initiative, it did not…… MORE
The night before Janet Yellen stepped down as Federal Reserve chair in February 2018, she shocked Wall Street by delivering a crushing blow to America’s most messed-up bank. In its final official act, the Yellen-led Fed imposed unprecedented growth restrictions on Wells Fargo — tough penalties that the scandal-ridden bank has never recovered from. Yellen’s…… MORE
Imagine the foreign subsidiary of a Swiss multinational corporation has been accused of human rights or environmental abuses abroad. Should the parent company be exposed to legal action in Switzerland? That’s the very important question that Swiss voters are deciding Sunday in a divisive referendum that could have far-reaching consequences for firms like Nestlé and…… MORE
Black Friday shopping isn’t the same this year with the ongoing pandemic and recession. Traditional brick-and-mortar stores saw a 52% drop in Black Friday traffic compared to last year, according to a report from Sensormatic Solutions. Shopping traffic on Thanksgiving Day dropped by 95%, as many stores closed to give their employees time off and…… MORE
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