Tesla’s bad news accelerates as Wall Street loses faith

Business 05/24/19, 10:40

Late last year, Tesla Inc. was fully charged and cruising down the highway on Autopilot.Shares were trading above $370 each, sales of the Model 3 small electric car were strong and the company had appointed a new board chair to rein in the antics of sometimes impulsive CEO Elon Musk.But ...

Morgan Stanley to pay $130 million to California pensions

U.S. 04/25/19, 17:05

One of the world's largest investment banks has agreed to put $130 million into the nation's biggest public pension system to settle accusations it knowingly sold bad investments that caused the retirement fund for millions of workers to lose money.California Democratic Attorney General Xavier Becerra announced the settlement with Morgan ...

Technology companies, banks power US stocks solidly higher

Business 03/26/19, 09:24

Stocks rose broadly in early trading Tuesday on Wall Street, erasing the market's modest losses from a day earlier.Technology companies powered the rally, with chipmakers among the biggest gainers. Nvidia rose 3.7 percent and Advanced Micro Devices added 2.3 percent.Banks also notched solid gains as bond prices headed lower, sending ...

Markets Right Now: Stocks open higher, but Boeing sinks Dow

Business 03/11/19, 08:56

The latest on developments in financial markets (all times local):9:40 a.m.Stocks are opening broadly higher on Wall Street, although a sharp drop in Boeing is pushing the Dow Jones Industrial Average lower.Boeing fell 12 percent after the second deadly crash in six months involving one of its new 737 Max ...

Buzz Aldrin’s son tries to stop dad from moving assets

U.S. 02/20/19, 14:08

Buzz Aldrin's son is trying to stop his father from transferring assets from a trust in the latest dispute between the Apollo 11 moonwalker and two of his children over whether he is capable of managing his affairs.Andrew Aldrin's lawyer sent a letter last month to an associate in Morgan ...

Post-bailout Greece readies for return to bond market

Business 01/28/19, 07:23

Greece has announced plans to raise up to 3 billion euros ($3.4 billion) via a 5-year bond, in what be the country's first market test since the end of its international bailout last August.The country's Public Debt Management Agency Monday named BofA Merrill Lynch, Goldman Sachs International Bank, HSBC, JP ...

US stocks are little changed after strong start to 2019

Business 01/17/19, 10:33

U.S. stocks are little changed Thursday morning as the market's recent rally loses steam. Health care and communications companies are edging upward while banks and technology companies are slipping. Morgan Stanley dropped after its fourth-quarter results fell short of Wall Street's expectations while railroad operator CSX fell after forecasting weaker ...

Global stocks jump, helped by strong earnings in the US

Business 10/16/18, 10:14

World stock markets are turning higher again Tuesday, helped by strong earnings reports from major U.S. companies. Investment banks Morgan Stanley and Goldman Sachs, health care products company Johnson & Johnson and health insurer UnitedHealth all climbed after announcing their third-quarter results. Technology companies are also rising after their recent ...

Report: Uber IPO could put company value at $120 billion

Business 10/16/18, 09:52

Uber may put forth an initial public offering early next year that values the ride-hailing business at as much as $120 billion, according to a media report.The Wall Street Journal said Tuesday that Uber Technologies Inc. received valuation proposals from Goldman Sachs and Morgan Stanley. There is no guarantee Uber ...

Goldman Sachs, Morgan Stanley both report strong 3Q profits

Business 10/16/18, 09:30

The leading U.S. investment banks — Goldman Sachs and Morgan Stanley — each reported third quarter profits that beat analysts' expectations Tuesday, helped by strong performance in their trading operations and better-than-expected revenue from stock underwriting.Goldman Sachs, the larger of the two banks, reported a profit of $2.52 billion in ...

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