Why growth of banks can be a drain on the economy

Why growth of banks can be a drain on the economy

Can over-developed financial markets and banks hurt the economy? That’s the theory of journalist and author Nicholas Shaxson, who argues that an over-developed financial sector can drain the resources from an economy rather than contribute to growth. Just like...
Exxon profits jump by 57%

Exxon profits jump by 57%

Higher oil prices are reaping bigger profits for ExxonMobil, which reported Friday that profits jumped by 57% last quarter. The company is increasing production in the Permian Basin of Texas, the center of the shale boom, and benefiting from the recent rise in oil...
GM offers buyouts after strong earnings report

GM offers buyouts after strong earnings report

DETROIT — General Motors Co. on Wednesday stepped up efforts to cut costs in response to tariff and market pressures, even as it reported a third-quarter profit that topped Wall Street expectations. The No. 1 U.S. automaker said it is offering buyouts to salaried...
Stocks Surge to Two-Week High

Stocks Surge to Two-Week High

U.S. stocks rallied for a second day to close out one of the worst months of the bull market on an upbeat note. The dollar added to a 16-month high and Treasury yields jumped. The S&P 500 Index was on track for its biggest two-day surge since June, while the Dow...
Larry Kudlow: The Economy Is Hot

Larry Kudlow: The Economy Is Hot

Trump economic aide talks about the U.S. as a world economic leader Source: CNBC The U.S. economy is leading the rest of the world by returning to a basic approach of cutting taxes and letting businesses know that government is back on their side, top Trump economic...