Money

Trump Comments Provoke Shock and Outrage in Israel and India

President Donald Trump managed to elicit outrage in both Israel and India through his wide-ranging set of foreign policy assertions about Syria and Afghanistan. At a cabinet meeting on Wednesday, Trump addressed his planned withdrawal of U.S. troops from Syria, which he abruptly announced a couple weeks back. He also expressed his displeasure at the …

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Blake Nordstrom, Tesla Shares, Another Bad Day: CEO Daily for January 3, 2019

Good morning. Yesterday’s CEO Daily pointed to signs that a recession may be looming in 2019. But one man who doesn’t see it is Hilton CEO Chris Nassetta, who sat down recently with Fortune‘s Susie Gharib. “I think 2019 is going to be a reasonably good year for the U.S. economy,” he told her. “When …

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The EU Can’t Agree on a Digital Tax — but Silicon Valley’s Still Going to Pay

Facebook, Amazon, Apple and Alphabet need to be prepared to pony up. European Union leaders were unable to come to an agreement for how to tax digital businesses last year, so now individual member states are pushing forward with their own digital taxes. The EU has long been frustrated by the lack of unification of …

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Senate GOP Adds 2 Women to Powerful Judiciary Committee, Report Says

In the still-roiled wake of confirmation hearings for Supreme Court Justice Brett Kavanaugh, Senate GOP leadership has added two Republican women to its Judiciary Committee, Politico reports. With four female Democratic senators already serving, the 20-member committee ratios will be 14-6 men to women, and 11-9 Republican to Democrat. The GOP retained and advanced its …

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Blake Nordstrom, Co-President of Luxury Department Store Chain, Is Dead at 58

Blake Nordstrom, the co-president of luxury department store chain Nordstrom and a fourth-generation leader in his family’s namesake company, died in Seattle on Wednesday, Jan. 2. He was being treated for cancer. Nordstrom was 58 years old. The company confirmed Nordstrom’s death on Wednesday. In December, Nordstrom disclosed his lymphoma diagnosis to The Seattle Times …

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Drugmakers Celebrate the New Year by Raising Prices on Hundreds of Drugs an Average of 6.3%

Three dozen drugmakers are raising prices on more than 250 prescription drugs, according to an analysis by RX Savings Solutions. The average price increase will be around 6.3%, although some drugs will see prices increase by 10% or more. By contrast, the inflation rate in the U.S. for the 12 months through November is 2.2%. …

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Put Down the Cocktails. ‘Dry January’ Can Help Curb Alcohol Consumption for Months, Research Says

After a festive holiday season and plenty of new year’s parties, and all of the alcohol millions of Americans drank throughout, some people go teetotaler for the month of January and commit to sobriety. And it turns out that even a brief sober period can provide lasting change and noticeable benefits in people’s overall health …

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Stock Prices Have Plummeted. That Doesn’t Make Them Good Buys

The business press and Wall Street money managers are advancing lots of plausible reasons for the stock market’s steep slide, ranging from the menace of more Fed rate hikes to an escalation of trade tensions with China to slowing global growth. A much simpler, and more likely explanation is getting scant attention: Equities have been …

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With All Eyes on Ultima Thule, a Chinese Rover Is Set to Land on the Moon’s Far Side

While the world’s astronomers watch images and data trickle in from NASA’s New Horizon’s flyby of the distant body nicknamed Ultima Thule, China is poised to to be the first country to land spacecraft on the far side of the moon. The landing could come as soon as Jan. 3 in the early morning GMT. …

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