Financial News from The Wall Street Journal

  • The Price Women Leaders Pay for Assertiveness—and How to Minimize It The Wall Street Journal - 23 hours ago

    The answer is definitely yes, according to our research. A #banbossy campaign by Facebook Chief Operating Officer Sheryl Sandberg sought to eradicate a word that is said to be aimed at women but not men. To test this popular view, my colleague Larissa Tiedens, of Stanford’s Graduate School of Business, and I recently synthesized 71 studies testing reactions to people who behave assertively.

  • Why Being Transparent About Pay Is Good for Business The Wall Street Journal - 23 hours ago

    Few things in the workplace are as closely guarded as salaries. Driven by new regulations and research into pay practices, companies are starting to share information about what their workers earn and how their salaries are determined.

  • Can’t Stand Your Commute? It’s All in Your Head. The Wall Street Journal - 23 hours ago

    People feel more satisfied at work and less exhausted emotionally when they make a conscious effort while commuting to think about what they need to do that day and how it fits into their longer-term plans, according to a new Harvard Business School working paper. The Wall Street Journal spoke with one of the authors of the working paper, Jon M. Jachimowicz, a doctoral student at Columbia Business School, about the study’s findings and how morning attitude adjustments can help with careers and commutes. WSJ: How does goal-directed prospection work?

  • Delivery Service Brings Groceries to Your Fridge When You’re Away The Wall Street Journal - Tue, May 31, 2016 8:09 AM AEST

    STOCKHOLM—In Sweden, groceries and fresh food can be delivered in your absence and directly to where they belong: your kitchen and fridge. A Scandinavian courier company, PostNord AB, and supermarket chain, ICA AB, are testing the new service with about 20 households in the Swedish capital, promising that messengers will remove their shoes and unpack online deliveries, even when customers are away. Made by Swedish startup Glue AB, the lock allows residents to decide remotely when to allow access to their homes.

  • Out-Clintoning the Clintons The Wall Street Journal - Tue, May 31, 2016 7:10 AM AEST

    This wasn’t the first time Mr. Trump has expounded on this theme, and frequent repetition has not made his views any more coherent. Mr. Trump says we ought to steer clear of the Middle East’s imbroglios—but then says we should seize its oil fields. Point them out to his admirers and apologists, and they’ll say you’re missing the deeper point, which is that Mr. Trump is reflecting the anger of everyday Americans who want a pragmatist in the White House whose instinct is to put America first and negotiate the details later.

  • Hillary’s Crooked Defense The Wall Street Journal - Tue, May 31, 2016 7:08 AM AEST

    In 1973 the sitting president, Richard Nixon, used these words at a news conference to deny allegations he had profited off his public service. In 2016 an aspiring president, Hillary Clinton, as part of her campaign for the White House, is advancing an aggressive variant of the Nixon defense. This has become the go-to argument for Team Clinton these days.

  • Does Having a Baby Really Make It Harder to Concentrate? The Wall Street Journal - Tue, May 31, 2016 4:55 AM AEST
    Does Having a Baby Really Make It Harder to Concentrate?

    One expert, Pilyoung Kim, director of the Family & Child Neuroscience Lab at the University of Denver, has looked into the gray matter of new mothers. “We see evidence of this in areas of the brain related to maternal instinct, and also in the reward centers,” says Dr. Kim, whose Denver lab studies the parental brain. Researchers have also shown an increase in activity and structure in the prefrontal cortex, which is responsible for executive functions, such as decision making, learning and emotion regulation.

  • Viacom CEO Gets June Hearing in Lawsuit Over Redstone Trust The Wall Street Journal - Sat, May 28, 2016 8:50 AM AEST

    A Massachusetts judge has granted the request from Viacom Inc. Chief Executive Philippe Dauman and board member George Abrams for a speedy hearing in their legal battle with Shari Redstone, the daughter of Viacom’s controlling shareholder, Sumner Redstone. A hearing has been scheduled for June 7 by Judge George Phelan of the Norfolk Country Probate and Family Court in suburban Boston.

  • Janet Yellen Sees Rate Hike Coming Soon The Wall Street Journal - Sat, May 28, 2016 8:38 AM AEST

    Federal Reserve Chairwoman Janet Yellen on Friday signaled the central bank will likely raise interest rates within months if the U.S. economy keeps gaining strength. “It’s appropriate…for the Fed to gradually and cautiously increase our overnight interest rate over time, and probably in the coming months such a move would be appropriate,” she said during a panel discussion at the Radcliffe Institute for Advanced Study at Harvard University. One reason for action: After a couple of weak quarters, “growth looks to be picking up from the various data that we monitor,” Ms. Yellen said.

  • Verizon, Unions Reach ‘Agreement in Principle’ The Wall Street Journal - Sat, May 28, 2016 6:42 AM AEST

    Verizon Communications Inc. and its labor unions have reached an agreement in principle that would end a weekslong labor strike. The two sides will now put an agreement in writing and submit it to union members for ratification. “I expect that workers will be back on the job next week,” Mr. Perez said.

  • Cellphone-Cancer Link Found in Government Study The Wall Street Journal - Fri, May 27, 2016 2:42 PM AEST
    Cellphone-Cancer Link Found in Government Study

    A major U.S. government study on rats has found a link between cellphones and cancer, an explosive finding in the long-running debate about whether mobile phones cause health effects. The multiyear, peer-reviewed study, by the National Toxicology Program, found “low incidences” of two types of tumors in male rats that were exposed to the type of radio frequencies that are commonly emitted by cellphones. “Given the widespread global usage of mobile communications among users of all ages, even a very small increase in the incidence of disease resulting from exposure to [radio-frequency radiation] could have broad implications for public health,” according to a report of partial findings from the study, which was released late Thursday.

  • Facebook and Microsoft to Build Fiber Optic Cable Across Atlantic The Wall Street Journal - Fri, May 27, 2016 10:53 AM AEST

    Facebook Inc. and Microsoft Corp. have teamed up to build a new fiber optic cable under the Atlantic Ocean, the latest evidence that the biggest U.S. tech companies are seeking more control over the Internet’s plumbing. The new project, called Marea, will span the more than 4,000 miles between Virginia and Spain with eight pairs of fiber optic strands, which would make it the highest capacity link across the Atlantic. The Web companies joined with Spanish Internet carrier Telefónica SA to build the cable, which is expected to enter service next year.

  • Four Studios Won’t Honor Movie-Booking Practice The Wall Street Journal - Fri, May 27, 2016 10:32 AM AEST

    Four major Hollywood studios are telling theater owners they will no longer participate in a movie-booking practice that has attracted lawsuits and attention from the Justice Department, according to people familiar with the matter. For years, theater chains have made “clearance” requests to studios, allowing some exhibitors to show certain movies in a market exclusively. In March, Twentieth Century Fox told exhibitors it would stop honoring clearance requests altogether, starting with Friday’s release of “X-Men: Apocalypse.” Viacom Inc.’s Paramount Pictures has long been resistant to clearance requests, and over the past several weeks, two other studios have joined them: Lions Gate Entertainment Corp. and Comcast Corp.’s Universal Pictures.

  • Airbnb Seeks Big Boost From Rio Olympics The Wall Street Journal - Fri, May 27, 2016 4:44 AM AEST

    RIO DE JANEIRO—Home-rental firm Airbnb Inc. is betting that its sponsorship of the Rio Olympics will cement its status as a mainstream lodging option in its fourth-largest market. Airbnb says that instead of damaging its efforts here, Brazil’s recession is helping the company in a city with huge accommodation problems. “The economic crisis is actually one of the key drivers for our supply growth across Brazil,” said Leo Tristão, the country manager for San Francisco-based Airbnb.

  • Billionaire Says He Helped Finance Hulk Hogan Suit Against Gawker The Wall Street Journal - Thu, May 26, 2016 2:30 PM AEST
    Billionaire Says He Helped Finance Hulk Hogan Suit Against Gawker

    Silicon Valley billionaire Peter Thiel acknowledged Wednesday that he helped finance Hulk Hogan’s legal fight against Gawker Media, in what amounts to an extraordinary campaign to take down a media organization. Mr. Thiel, a secretive venture capitalist and entrepreneur, told The Wall Street Journal that he pursued the effort because he thought the case “was a gross violation of privacy that deserved to win on the merits.” He said he thought his support for Terry Bollea, whose pro wrestling name is Hulk Hogan, would eventually become known. “I am supporting other people who have been harmed by Gawker, which routinely relied on an expectation that their less wealthy victims would have no legal recourse even against clear violations,” said Mr. Thiel in written statements to the Journal.

  • In Shrinking East German Towns, Some See Migrants as Salvation The Wall Street Journal - Wed, May 25, 2016 4:40 PM AEST

    HETTSTEDT, Germany—Bernd Kühne was struggling to find players for the small soccer club he runs in this shrinking eastern German town, where the average age is 55 and rising. Murad Bengin, in particular, struck Mr. Kühne as a real talent. Eager to keep the 34-year-old Syrian, the club helped him find a job, open a bank account and finish paperwork to bring his family from Syria.

  • Chinese Investors Pour Money Into U.S. Property The Wall Street Journal - Wed, May 25, 2016 2:11 PM AEST

    Commercial property sales have slowed in the U.S. this year—but Chinese investors are continuing to plow money into the market. By contrast, for all of last year Chinese investors did 71 U.S. deals worth $6 billion. In the most recent high-profile transaction, China Life Insurance Group Co. last week provided an unspecified piece of the equity toward the purchase of the Manhattan office tower at 1285 Sixth Ave. in New York, according to people familiar with the matter.

  • Clinton Is Still the Favorite The Wall Street Journal - Wed, May 25, 2016 9:16 AM AEST

    Hillary Clinton remains a strong favorite to defeat Donald Trump in November. Mrs. Clinton enjoys structural advantages in demography, party registration and the Electoral College. As recently as six months ago, it seemed likely that President Obama’s low job-approval rating would be a drag on Mrs. Clinton’s campaign.

  • Auto, Mortgage Delinquencies Climb in Energy Regions The Wall Street Journal - Wed, May 25, 2016 7:19 AM AEST

    The year-and-a-half-long spell of low oil prices is making it hard for households to pay the bills in energy-producing regions, an ominous localized trend that comes as the rest of the country returns to pre-recession levels of health. Delinquencies on auto loans have spiked in the U.S. counties that had the highest employment in the oil-and-gas industry, according to the Federal Reserve Bank of New York’s quarterly report on household debt and credit. Tuesday’s report underscores that although the decline in oil prices has saved many Americans money at the pump, it has caused significant economic fallout for those who were working in the energy industry during the boom.

  • Clintonomics Would Be Very Different Today The Wall Street Journal - Wed, May 25, 2016 6:32 AM AEST

    According to Paul Krugman, such spending restraint should have been contractionary, but people in the real world know that small government and pro-free enterprise policies are what creates booms. The largest difference in the economy between now and when Mr. Clinton was president is demographics. Back then, the baby boomers had not yet started to retire.

  • In Syria’s Mangled Economy, Truckers Stitch Together Warring Regions The Wall Street Journal - Wed, May 25, 2016 2:12 AM AEST

    AL-MABROKEH, Syria—Just before this stretch of Kurdish-controlled territory gives way to Islamic State land, there is a lonely checkpoint consisting of a table, plastic chair and tarp. “If we cut off the oil from them, then they can cut off the refrigerators,“ said one of the officers, Bayan Alimtaar, as he inspected the papers of tanker trucks carrying oil from Kurdish wells to Islamic State territory. In wartime Syria, economic survival frequently trumps politics and ideology, prompting foes to trade across front lines that have carved up the nation.

  • Hillary Clinton’s Lead Over Donald Trump Narrows The Wall Street Journal - Mon, May 23, 2016 2:18 PM AEST

    Republicans have rallied behind Donald Trump in the weeks since he effectively clinched his party’s presidential nomination, helping him narrow Democrat Hillary Clinton’s once double-digit lead to just 3 percentage points, a new Wall Street Journal/NBC News poll shows. Mrs. Clinton leads the New York businessman, 46% to 43%, in a test matchup between the two likely nominees, the poll finds. Vermont Sen. Bernie Sanders, who faces long odds of wresting the Democratic nomination from Mrs. Clinton, leads Mr. Trump by a much wider, 15-point margin, 54% to 39%, in a hypothetical matchup.

  • Tensions Boil Over in Redstone’s Media Empire The Wall Street Journal - Mon, May 23, 2016 1:19 PM AEST

    Months of tension over the fate of Sumner Redstone’s $40 billion media empire erupted into open warfare over the weekend, as two of the mogul’s longtime lieutenants were told they were removed as stewards of his holdings in Viacom Inc. and CBS Corp. Late Friday, a lawyer claiming to represent Mr. Redstone informed Viacom Chief Executive Philippe Dauman and Viacom director George Abrams that they had been dismissed from the seven-member trust that Mr. Redstone set up to manage his nearly 80% voting stakes in the two media companies when he dies or is incapacitated. Mr. Dauman and Viacom quickly challenged the legitimacy of the dismissals, questioning the lawyer’s relationship to the mogul.

  • Should Cellphones Have Warning Labels? The Wall Street Journal - Mon, May 23, 2016 12:02 PM AEST

    For now, how seriously one takes warnings about possible risks associated with radio-frequency waves emitted by cellphones largely depends on whether one believes the many studies that suggest there are links to risks of cancer or other ill effects, or the many studies that suggest there is no proof of such risks. Joel M. Moskowitz, Ph.D., a researcher and the director of the Center for Family and Community Health in the School of Public Health at the University of California, Berkeley, believes that such labels are needed. Arguing that warning labels aren’t called for is Larry Junck, professor of neurology at the University of Michigan Health System.

  • In Afghanistan, a Secret Plan Pays Off the Taliban The Wall Street Journal - Mon, May 23, 2016 11:03 AM AEST

    SHINDAND, Afghanistan—The Afghan government is giving financial and military support to a breakaway Taliban faction, according to some Afghan and U.S. coalition officials, in an effort to sow rifts within the insurgency and nudge some of its leaders toward peace talks. The effort comes as the U.S. military conducted an airstrike inside Pakistan that American officials said likely killed Taliban leader Mullah Akhtar Mansour, potentially setting the stage for another leadership struggle that could fragment the group further in the coming days. The Taliban, which usually respond promptly to requests for comment, hadn’t issued a statement by late Sunday.

  • Bitcoin Catches On With Gold Bugs The Wall Street Journal - Mon, May 23, 2016 10:08 AM AEST

    Kanishka Sukumar, a consultant who works in midtown Manhattan, says his parents often stash money in gold for safekeeping. "In times of financial turmoil, I would prefer to see a portfolio full of bitcoin,” said Mr. Sukumar, who holds about one-third of his wealth in the digital currency. Bitcoin is gaining traction with modern-day gold bugs who question the stability of paper currencies or worry about protecting their savings during the next financial crisis.

  • Homeownership Elusive for Young Adults Without College Degrees The Wall Street Journal - Mon, May 23, 2016 7:42 AM AEST

    Student loans are often blamed for the record-low homeownership rate among young adults. College graduates ages 18 to 34 years old without student debt will need just over five years of additional savings to afford a 20% down payment for a starter home, defined as the median home at the bottom third of the market, according to research to be released Monday by Apartment List, a rental listing website. In comparison, it takes college grads with student loans about 10 years.

  • China’s Taiwan Squeeze The Wall Street Journal - Mon, May 23, 2016 7:33 AM AEST

    Tsai Ing-wen was sworn in as Taiwan’s new President on Friday, marking another milestone in Taiwan’s democratic development. Along with touting the island’s third transfer of power via elections and promising to lift its export-driven economy out of recession, Ms. Tsai said that Taipei and Beijing should “set aside the baggage of history” and “engage in positive dialogue.” Beijing is having none of it. The implicit message is that there will also be more Chinese pressure on Taiwan’s economy, diplomatic standing and security.

  • A Job for Rubio-Cruz: Save the Web The Wall Street Journal - Mon, May 23, 2016 7:04 AM AEST

    Marco Rubio and Ted Cruz, back from the campaign trail, have something productive to do in Washington. The Obama administration announced in 2014 it would end U.S. oversight by canceling the Commerce Department’s long-standing contract with the Internet Corporation for Assigned Names and Numbers, or Icann.

  • When M&A Music Stops, These Banks Won’t Have Chairs The Wall Street Journal - Mon, May 23, 2016 6:07 AM AEST

    On Wall Street, bankers know that merger booms come and go. Investors need to be aware of the risks when the music stops. When activity dies down, a handful of boutique investment banks that specialize ...

  • Why the Housing Market Is Getting Stronger The Wall Street Journal - Mon, May 23, 2016 1:54 AM AEST
    Why the Housing Market Is Getting Stronger

    Spring has sprung for the housing market. Steady job growth, rising wages and low interest rates have helped prop up housing demand. There are a few worries after three consecutive months of declines in new-home sales, but government data and quarterly results from luxury home builder Toll Brothers Inc., out Tuesday, should ease concerns.

  • RXR Realty Buys 1285 Sixth Ave., Signs UBS Lease Renewal The Wall Street Journal - Sat, May 21, 2016 10:10 AM AEST

    The corporate-office canyon on Manhattan's Sixth Avenue got a boost Friday as developer Scott Rechler announced he has purchased one of its most prominent towers for $1.65 billion and renewed the building’s biggest tenant, UBS Group AG. The Swiss banking giant took more than 900,000 square feet in 1285 Sixth Ave. through 2032 in one of the city’s biggest office leases of 2016. The deal comes as Sixth Avenue landlords have been competing more intensely with other parts of the city, including Midtown South and the new Hudson Yards development.

  • Theranos Voids Two Years of Edison Blood-Test Results The Wall Street Journal - Thu, May 19, 2016 10:16 AM AEST

    Theranos Inc. has told federal health regulators that the company voided two years of results from its Edison blood-testing devices, according to a person familiar with the matter. “There have been massive recalls of single tests in the past, but I’m not aware of one where a company recalled the entirety of the results from its testing platform,” said Geoffrey Baird, associate professor in the department of laboratory medicine at the University of Washington in Seattle.

  • Fewer Shareholders Pay U.S. Taxes on Dividends The Wall Street Journal - Thu, May 19, 2016 9:53 AM AEST

    A new study showing that a shrinking fraction of shareholders of U.S. corporations pay taxes on dividends is bolstering a drive to revamp the corporate tax system. The specter of double taxation, which animates complaints about today’s U.S. corporate tax code, is receding, according to a new study from the Tax Policy Center. Tax-exempt and tax-preferred entities—such as 401(k) plans and other retirement accounts—own more than 75% of U.S. corporate stock, nearly opposite the prevailing pattern from 50 years ago, the study said.

  • Helping Bosses Decode Millennials—for $20,000 an Hour The Wall Street Journal - Wed, May 18, 2016 1:59 PM AEST

    Millennial expert Lindsey Pollak says she can teach companies a thing or two about young workers. People born in the 1980s and 1990s now make up the largest single generational group in the workforce, and managing them has become a source of agita for big businesses such as Oracle Corp., Goldman Sachs Group Inc. and Coca-Cola Co. Millennial issues also have become a source of income for a host of self-anointed experts who say they can interpret young workers’ whims and aspirations—sometimes for as much as $20,000 an hour.