Swiss engineering firm ABB said it would likely book a $100 million charge related to a “sophisticated criminal scheme” it said was orchestrated by the treasurer of its South Korea unit, who has gone missing.
Federal Reserve officials at their latest meeting anticipated raising short-term interest rates “fairly soon” in light of an improving economy and the possibility that the Trump administration’s proposed economic policies could push inflation up faster than anticipated.
Treasury Secretary Steven Mnuchin laid out ambitious goals to secure a tax-code overhaul by August and to deliver economic growth at rates not seen in more than a decade in his first interview in his new job.
A decade after the world began to notice the losses on derivatives linked to the toxic waste of structured subprime mortgages, American stocks have produced such big returns that the biggest crash in generations barely registers.
Before Beijing suspended North Korean coal imports over the weekend to squeeze Pyongyang’s nuclear program, the hermit state shipped more coal to China in December than allowed under United Nations sanctions.
Milo Yiannopoulos, a media provocateur who had become an outspoken voice in conservative politics, has resigned from the hard-right news site Breitbart News after a video surfaced in which he made remarks that appeared to condone sex between grown men and underage boys.
Verizon shaved the price it will pay for Yahoo’s core business but is pushing ahead with the deal, in a bet that the chance to expand into digital advertising trumps the risk of further fallout from massive data breaches at the struggling internet pioneer.