Editors USA TODAY Published 11:55 AM EST Dec 22, 2018 In 2018, the eyes of the nation were again fixed on President Donald Trump, whose second year in office was no less remarkable than his first. It was a year that saw the president open up trade wars, meet with North Korean leader Kim Jong Un, spar with the press and defend hush money payments to women he allegedly had affairs with, all while new revelations and indictments poured out of special counsel Robert Mueller's investigation into Russian election meddling. Policies and politics divided us. We found ourselves embroiled in a fierce immigration debate. Trump's Supreme Court nominee Brett Kavanaugh ascended to the high court despite sexual assault allegations from Christine Blasey Ford. Nature humbled us. California burned as the Camp Fire became the most destructive in state history. Hurricane winds and floods battered the Carolinas. But other stories made us proud. Team USA brought home 23 Olympic … [Read more...] about 2018 news year in review: Stories across United States that moved us
Remove bankruptcy from credit report early
2 July 2018 EconomicsFinance It’s 10 years since the global financial system almost sent the world into a great depression. Yohann Koshy takes stock of what went wrong and where we are now This moment – a decade since the global financial crisis – is an ellipsis. We are between destinations, with no reliable map and uncertain co-ordinates. In September 2008 the fourth-largest US investment bank, Lehman Brothers, founded in 1850, filed for bankruptcy. It looked as if the global financial order, even capitalism itself, was next. Mohamed El-Erian, CEO of PIMCO, a large US investment management firm, asked his wife to withdraw as much money as possible from the ATM in case the banks didn’t open.1 An anonymous hedge fund manager in New York fired off a short email to a journalist: ‘It feels a little like the end of the world.’2 The world almost did end. And everything stayed the same. Time was borrowed in the form of nationalizations, cash … [Read more...] about When the world almost ended
GE and the Dow.The Dow Jones Industrial Average will remove General Electric Co. next Tuesday after a run of underperformance. At the Financial Times, John Authers explains why you shouldn’t care about the Dow, but you are sophisticated and didn’t care about the Dow, so I will not repeat his arguments here. I will only mention his headline, which is “General Electric managed to outlast a cull of great names.” He means Westinghouse, Bethlehem Steel and Woolworth, which all left the Dow on the same day in 1997, “in a cull of great names from US industrial history that had ceased to be of any relevance.”But there is a broader and more literal point, which is that the early Dow had some great names. When General Electric was part of the first Dow Jones Industrial Average in 1896, its fellow members included American Cotton Oil Co., American Sugar Refining Co., American Tobacco Company, Distilling & Cattle Feeding … [Read more...] about The Dow Drops a General
Chanda Kochhar, the chief executive officer of India’s second-biggest lender, has left the building, and her new deputy should waste no time in letting stakeholders know who the real boss is: It’s him.Investors and commentators like me have been hoping since early April that ICICI Bank Ltd.’s board would remove the CEO to save the lender’s reputation. Kochhar’s husband and brother-in-law received an alleged quid pro quo in return for loans made by ICICI.Both have denied any wrongdoing, though the cloud of suspicion hasn’t lifted. Last month, the market regulator queried ICICI and Kochhar in connection with a loan to Videocon Group. The Indian conglomerate, whose main business is facing bankruptcy, had dealings with a renewable energy firm in which Kochhar’s husband has economic interests.ICICI’s directors, however, had painted themselves into a corner by a premature defense of their CEO, who was feted … [Read more...] about Mirror, Mirror, Who’s the Real ICICI Boss?
By Rebecca Ballhaus, Rebecca Ballhaus The Wall Street Journal BiographyRebecca Ballhaus @rebeccaballhaus [email protected] Michael Rothfeld, Michael Rothfeld The Wall Street Journal BiographyMichael Rothfeld @mrothfeld [email protected] Joe Palazzolo and Joe Palazzolo The Wall Street Journal BiographyJoe Palazzolo @joe_palazzolo [email protected] Alexandra Berzon Alexandra Berzon The Wall Street Journal BiographyAlexandra Berzon @alexandraberzon Google+ [email protected] June 15, 2018 7:19 a.m. ET 183 COMMENTS Photo: Photo Illustration: Dave Cole/The Wall Street Journal; Photos: Getty Images (2) Donald Trump summoned senior aides to his 26th floor office at Trump Tower around 2009 for an unpleasant task: persuade Michael Cohen —a top lawyer at his company—to resign, according to one of the aides. Mr. Trump’s frustration had reached a breaking point, the aide said. Mr. Cohen wasn’t getting … [Read more...] about ‘What’s He Doing Here?’: Inside Trump’s Turbulent Relationship With Michael Cohen