Two former US Treasury secretaries urged Washington policymakers to address the country’s long-term fiscal challenges before they become insurmountable, speaking hours after the government lost its top-tier rating at Fitch Ratings.
Albemarle Corp. boosted its outlook for the year as lithium prices rebounded after a months-long rout.
Spirit AeroSystems Holdings Inc. shares sank 27%, the most since 2012, after the aerospace manufacturer said its cash flow won’t fully recover next year as it grapples with the aftermath of a strike and the effects of inflation on some money-losing contracts.
Occidental Petroleum Corp. bought back $522 million of Berkshire Hathaway Inc.’s preferred stock in the second quarter, demonstrating its willingness to repay Warren Buffett even as commodity prices drop.
Zillow Group Inc. shares slid after the company’s revenue forecast missed estimates, with an anemic US housing market weighing on expected results.
This year’s $6.5 trillion rally in stocks hit a wall, following hot labor-market data and a ramp-up in Treasury issuance just a day after a US credit downgrade by Fitch Ratings.
Young Americans deserve more attention from US policymakers because they’re only getting a fraction of the average $29,000 doled out annually to people over age 65, according to the scholar who directs the Aspen Economic Strategy Group.
Hunter Biden earned more than $4 million from a Ukrainian energy company, a Chinese private equity firm and other sources during two years in which he descended deeper into substance abuse, according to his proposed plea agreement to federal tax charges.
Shopify Inc. reported sales and profit for the second quarter that beat analyst expectations as the Canadian e-commerce giant attempts to turn around its business.
Clorox Co. reported sales and profit that handily topped analysts’ projections after consumers absorbed higher prices for household goods such as cleaning products and Brita water filters.
