Archive for August 27th, 2017

The market will be closely watching Harvey, which continues to pummel Houston and other parts of Texas. Total rainfall could go as high as 50 inches.

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Uber picked Dara Khosrowshahi as its chief executive, filling a vacancy created when the co-founder Travis Kalanick stepped down under pressure in June.

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The reason so many governments allow themselves to be held up for massive subsidies to attract businesses is familiar to anyone who has ever had a teenaged child: Peer pressure. States and municipalities feel they have no choice but to open the vault for potential employers because everyone else seems to be doing the same. Rather than throw up their hands and give into crony capitalism, maybe governments need to throw in their lot with each other and ban it, or at least limit it.
In an example of government-see government-do, Wisconsin Governor Scott Walker sought to justify the states $3…

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Two and a half weeks ago, the stock market looked invincible. The S&P 500 Index had just closed at an all-time high of 2,480.91 on August 7th, and even more impressive, it got there with remarkably low volatility. Over the previous five years, the stock index had risen over +75%, and in that time, there had been only eight discrete declines of -5% or worse “discrete” meaning they were separated by a move higher of at least +5%. That means the S&P 500, on average, went more than seven months before seeing a -5% or larger fall.
Lets put that in perspective. From 1990 through 2010, the…

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Don't expect bargains galore — at least, not yet — as Amazon takes over Whole Foods Market, but price cuts starting Monday on some key items will certainly make for a nice start. 

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Exxon Mobil is shutting down its massive Houston-area refinery—the second largest in the U.S.—as torrential floodwaters from Hurricane Harvey paralyze large portions of the area.

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The first two are simple arithmetic. The third is much deeper.

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<p>Sears Holdings said Thursday it would close another 28 Kmart locations as it continues its cost-cutting campaign, again making it the poster child for the precipitous decline of the American department store.</p>

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<p>A marine net pen holding 305,000 farmed Atlantic salmon collapsed recently, releasing thousands of fish into Puget Sound and renewing concerns that a new proposed salmon farm could harm wild salmon stock and cause other environmental damage.</p>

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<p>Small towns across Japan are on the verge of collapse. Whether they can do so gracefully has consequences for societies around the globe.</p>

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Thousands of workers in St. Louis will likely see smaller paychecks starting Monday, when a new Missouri law takes effect barring local government from enacting minimum wages different than the state minimum.

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As Harvey’s winds die down, trouble for Texas may have just begun with forecasts for unprecedented flooding across the heart of U.S. energy production and in Houston, the nation’s fourth-largest city.

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