The wealth of the world’s billionaires grew at roughly $5.7 billion (€5.5 billion) per day last year, according to Oxfam’s annual report on the financial affairs of the richest people on earth. Meanwhile, the number of people living in poverty has barely changed since 1990, according to the World Bank. Oxfam’s latest research reveals the…
It was a big disappointment for investors, but also unwelcome news for borrowers and prospective homebuyers waiting for lower interest costs. “Today was a closer call but we decided it was the right call,” Fed chair Jerome Powell said at a news conference after the central bank approved a quarter-point cut in its main lending…
The S&P 500 Index has given back more than half of its post-election rally as Friday’s selloff steepens, with sticky inflation and hawkish comments from the Federal Reserve weighing on sentiment. The broad equities benchmark was down 1.4 percent at midway through the session, putting it on track to lose 2.2 percent for the week,…
This decision, announced by the chronically embattled Post chief executive officer Will Lewis, came after Los Angeles Times owner Patrick Soon-Shiong killed that organization’s endorsement of Kamala Harris. The Post editorial board had also planned to endorse Harris before Bezos killed it. It would be easy to call this a dark week in American media,…