A consortium backed by activist hedge fund Starboard Value LP has offered roughly $9 billion to buy department store Kohl’s Corp. KSS, -2.60%, according to people familiar with the matter. A group led by Acacia Research Corp. ACTG, -0.69%, which Starboard controls, offered to buy the department-store chain for $64 a share in cash Friday, the people …
How big a toll has omicron had on the economy? Economists have been scratching their heads for weeks to estimate the damage the highly contagious COVID-19 variant is causing. The U.S. Census Bureau has some early answers. The U.S. Centers for Disease Control and Prevention reported that omicron was the most dominant COVID-19 strain in …
After decades in hibernation, inflation woke up in 2021 in a terrible rage. The consumer price index increased 7% in 2021, the fastest pace in 39 years. The inflation story is bound to be a big one in 2022, as well, as the Federal Reserve tightens monetary policy, stock markets SPX, +0.08% DJIA, -0.56% tremble …
The numbers: Initial jobless claims rose by 23,000 to 230,000 in the week ended Jan. 8, the U.S. Labor Department said Thursday. It’s the highest level since mid-November. Economists polled by The Wall Street Journal had estimated new claims would slip to 200,000. Key details: The number of people already collecting jobless benefits plunged by 194,000 …
U.S. jobless claims jump to highest level since mid-November Read More »
With fiscal third-quarter earnings scheduled for Thursday, analysts say Bed Bath & Beyond Inc. could get squeezed by promotions and traffic pressure. “We have seen a very meaningful ramp in Bed Bath & Beyond’s promotions through F3Q and December, including a free Beyond+ Membership program (previously $29 fee), giving customers free shipping and 20% off …
The reopening trade was the theme of European stock market trading on Tuesday, as airlines surged and stay-at-home stocks suffered. Wizz Air WIZZ, +12.54% led an airline rally, surging as the Central European-focused airline nearly quadrupled passenger traffic in December compared to year-ago levels. Analysts at Citi, however, downgraded Wizz to sell from buy, warning …
Airlines surge and stay-at-home stocks slump in European action Read More »
The Great Resignation not only has liberated workers from their employers but it has led to a boom in small businesses across the nation, especially in the Southeast. Those are among the conclusions of a survey by software-as-a-service platform Zapier. New business creation is more than 50% higher than it was pre-pandemic, it found, as …
The Great Resignation has led to a wave of self-startups, especially in the Southeast Read More »
(Updated as of the market close on Dec. 31.) The performance of the stock market in 2021 was nothing short of remarkable, surprising many investors after the dramatic crash-and-recovery cycle of 2020. A continuing recovery for the world economy meant increased demand and shortages in various industries, including semiconductors and energy. Some of the best-performing …
These are the best-performing S&P 500 and Nasdaq-100 stocks of 2021 Read More »
It’s easy to point the finger. This week, U.S. health officials reduced isolation times for Americans who test positive for COVID-19 but have no symptoms from 10 to five days, and also cut the time that close contacts need to self-quarantine. After those five days, Americans should still wear a mask around others for another …
Oil futures rose for a third straight session Thursday, with the U.S. benchmark ending a holiday-shortened week at a one-month high as worries over the effect of the omicron variant’s effect on demand faded. West Texas Intermediate crude CL00, +1.54% CLG22, +1.54% for February delivery rose $1.03, or 1.4%, to close at $73.79 a barrel …
