Wall Street

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Report: Ride-Hailing Firm Plans a Huge Change

Uber could issue IPO in early 2019

(Newser) - Ride-hailing giant Uber has filed confidential preliminary paperwork for selling stock to the public, the AP reports. That's according to a report late Friday in the Wall Street Journal . Citing people familiar with the matter whom it did not identify, the Journal says San Francisco-based Uber Technologies Inc. filed... More »

Wall Street Pay Seems to Have Long Forgotten Recession

Average salary for those in the NYC securities industry in NYC: $422,500, highest in a decade

(Newser) - If you've been fretting over how the folks on Wall Street are doing lately, rest easy: The New York state comptroller says they're fine. Better than fine, actually, per Thomas DiNapoli, who notes the average securities-industry salary in New York last year rose 13%, to $422,500 (with... More »

Trump Just Proposed a Huge Change for Corporate America

He asks the SEC to do away with quarterly earnings reports, move to twice a year

(Newser) - Amid another busy morning on Twitter, President Trump proposed what would be a historic shift for corporate America. He asked the SEC to do away with the requirement that publicly traded businesses file quarterly earnings reports, per the Wall Street Journal . Instead, Trump floated the idea of twice-yearly reports. "... More »

Former Summer Intern Makes Stock Exchange History

Stacey Cunningham will be first woman to lead the NYSE in its 226-year history

(Newser) - The New York Stock Exchange for the first time in its 226-year history will be led by a woman, as Stacey Cunningham will become the 67th president of the Big Board, per the AP . That means that two of the world's most well-known exchanges will be led by women.... More »

Icahn Dumps $31M in Shares Before Steel Tariff Unveiled

Former Trump adviser apparently saw it coming

(Newser) - Billionaire investor Carl Icahn—who once worked as a "special adviser" to President Trump—dumped about $31 million of shares in a company that depends on steel imports just days before Trump announced tariffs on steel imports, the Guardian reports. On February 12, Icahn began selling his shares in... More »

Tax Overhaul Worries Leave Wall Street Mixed

Questions about which companies will benefit led to ups and downs

(Newser) - It was a mixed day on Wall Street as investors pondered which companies would be winners and losers if a Republican-sponsored tax overhaul goes through, the AP reports. Indexes were mostly higher early in the day Monday but wound up with an uneven close after drops in technology and health... More »

Dow Crosses 24K for First Time

November looks like it'll end on a high note

(Newser) - A couple of hours before the stock market opened, President Trump tweeted , "Stock Market hits new Record High. Confidence and enthusiasm abound. More great numbers coming out!" He was right: The Dow Jones Industrial Average crossed the 24,000 threshold for the first time, and the S&P... More »

Oil Prices Dip, Pulling Stocks Down With Them

More stocks fell than rose today on Wall Street

(Newser) - A slide in crude oil prices weighed on energy companies, pulling US stock indexes mostly lower on Wall Street, the AP reports. Marathon Oil slumped 4.3% and Newfield Exploration lost 3.3%. Industrial companies and utilities rose, while retailers posted solid gains on reports the holiday shopping season is... More »

Dow Makes History

It reaches 23K for the first time

(Newser) - Expect some presidential tweets after this: The Dow reached 23,000 for the first time in its history Tuesday morning. President Trump has been boasting of late about the stock market's rise during his presidency, and MarketWatch reports that the most recent surge seems to be tied to Wall... More »

Firm Behind 'Fearless Girl' Pays Ironic Fine

Though it says it disagrees with allegations of a gender pay gap

(Newser) - The financial services firm behind Wall Street's "Fearless Girl" statue agreed to pay $5 million to settle federal allegations that it paid female executives less than their male counterparts, the AP reports. The agreement followed a US Department of Labor probe into Boston-based State Street Corporation. Investigators said... More »

Obama Makes Big Money With Wall Street Speeches

Bloomberg reports on 3, with his going rate about $400K per speech

(Newser) - Barack Obama took flak earlier this year when it emerged that he would collect a handsome $400,000 fee for speaking at an event for investment bank Cantor Fitzgerald. It appears that the criticism isn't fazing him much. Bloomberg reports on two more Wall Street speeches for the former... More »

Dow's Latest Feat: Topping 22K, Thanks to Apple

After hitting 21K on March 1

(Newser) - The Dow Jones Industrial Average traded above 22,000 for the first time at the open on Wednesday, and MarketWatch gives some context: Should it close above that mark, it would be the third 1,000-point milestone in a year, the most the Dow has achieved in that span. (Though... More »

Meet the Man Who Kills Stock Values for Fun and Profit

If Andrew Left writes about a company, its stock drops 10% on average

(Newser) - Andrew Left made $280,000 in two hours by short-selling stock in a Chinese real estate company, then publishing claims the company was committing accounting fraud. Shortly after the 2016 election, Left issued a series of tweets about a company called Express Scripts, accusing it of inflating drug prices; the... More »

Newest Statue on Wall Street: 'Pissing Pug'

It's a response to 'Fearless Girl,' which was a response to 'Charging Bull'

(Newser) - For months, "Fearless Girl" has stood in defiance of a famous 11-foot bull statue in Manhattan. But its message of female empowerment was a bit dampened Monday. In protest of the 4-foot statue of a young girl, artist Alex Gardega erected a small statue of a dog urinating next... More »

'Fearless Girl' Has New Foe: the 'Charging Bull' Sculptor

Arturo Di Modica says newer bronze statue is messing up his creation's vibe

(Newser) - The sculptor of Wall Street's "Charging Bull" statue is accusing New York City of violating his legal rights by allowing the "Fearless Girl" statue to be installed facing the bronze beast without his permission. Attorney Norman Siegel tells the AP that Arturo Di Modica will explain at... More »

'Fearless Girl' Is Staying Put

Statue near Wall Street bull will be allowed to remain until February 2018

(Newser) - After stirring no shortage of debate , the popular statue of a young girl staring down Wall Street's famous "Charging Bull" will be allowed to remain through February 2018, reports the AP . New York City Mayor Bill de Blasio says the artwork, called "Fearless Girl," has inspired... More »

Should 'Fearless Girl' Stay?

New statue drastically changes meaning of Charging Bull, stirs debate

(Newser) - Should the "Fearless Girl" stand up to Wall Street's charging bull forever? That's the question New York City officials are facing after a statue of a ponytailed girl in a windblown dress went up in front of the bronze bull early this month and immediately became a... More »

Wall Street's Famous Bronze Bull Has 'Defiant' New Frenemy

'Fearless Girl' installed by investment firm in the name of corporate gender diversity

(Newser) - Wednesday is International Women's Day, as well as the International Women's Strike and "A Day Without a Woman," and one bronzed young lady isn't taking any bull when it comes to celebrating them. A New York City firm erected a statue of what Business Insider... More »

Dow Drops 133 Amid Broad Sell-Off

But LinkedIn shares skyrocket 47%

(Newser) - Wall Street stocks closed lower on Monday with materials, technology, and industrial companies among the hardest hit in a broad sell-off touching all market sectors, the AP reports. Marathon Petroleum fell nearly 7% while Valero Energy and United Continental Holdings both dropped more than 4%. LinkedIn shares soared 47% and... More »

On Quiet Day, Dow Drops 8

Monsanto up 4% after unexpected offer from Bayer

(Newser) - Stocks closed slightly lower Monday after a day of wavering between small gains and losses, the AP reports. Many traders were waiting on the sidelines for more clues about what the Federal Reserve might to at its next policy meeting in June. Last week many were surprised to hear that... More »

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