Financial News from The Wall Street Journal

  • How Men and Women See the Workplace Differently The Wall Street Journal - 23 hours ago

    Men and women experience very different workplaces, ones in which the odds for advancement vary widely and corporate careers come in two flavors: his and hers. Data show that men win more promotions, more challenging assignments and more access to top leaders than women do. Less than half feel that promotions are awarded fairly or that the best opportunities go to the most-deserving employees.

  • The Secrets of Cheryl Mills The Wall Street Journal - Tue, Sep 27, 2016 9:31 AM AEST

    Why did Cheryl Mills require criminal immunity? This is the irksome question hanging over the FBI investigation into Hillary Clinton’s home-brew server in the wake of news that Ms. Mills was granted immunity for her laptop’s contents. Ms. Mills was a top Clinton aide at the State Department who became Mrs. Clinton’s lawyer when she left.

  • The Sino-Russian Axis The Wall Street Journal - Tue, Sep 27, 2016 9:08 AM AEST

    China and Russia completed an eight-day joint naval exercise in the South China Sea last week, and this time the location was also the message. Days before the drill, which focused on antisubmarine warfare and what a Xinhua dispatch called “island-seizing,” Vladimir Putin and Xi Jinping held their 15th bilateral meeting on the sidelines of the G-20 summit in Hangzhou. Mr. Putin announced support for Beijing’s aggressive sovereignty claims in the South China Sea and opposition to “any third-party interference,” an unsubtle reference to the United States.

  • Parsing the Great Wells Fargo Bank Robbery The Wall Street Journal - Tue, Sep 27, 2016 3:59 AM AEST

    Regarding your editorial “Whipping Wells Fargo ” (Sept. 21): As a stockholder of Wells Fargo & Co. (WFC), I thank you for affirming that there was a serious breach of trust on the part of the WFC management in its unbridled efforts to cross-sell products without filters to prevent frauds. While the CEO John Stumpf was equally regretful at the Senate hearings, he wasn’t willing to agree to implement even the standard clawbacks on compensation paid to senior managers who utterly failed in their supervision, but was passing the buck on to the board of directors.

  • Snapchat’s Sunglass Camera Poses Challenges The Wall Street Journal - Mon, Sep 26, 2016 11:45 AM AEST

    Snapchat’s unveiling of camera-equipped sunglasses thrusts the messaging app maker into the cutthroat hardware business, a risky move that reflects its strength in video, but follows a shaky record by internet giants. On Friday, the Venice, Calif., startup revealed Spectacles, a $130 pair of stylish sunglasses outfitted with a camera that with a tap of a button near the hinge can record up to 10 seconds of video at a time. The one-size-fits-all glasses, which come in black, teal or coral and will be available this fall in limited quantities, are designed to connect to a smartphone so Snapchat users easily can share videos through the app.

  • A Millennial’s ObamaCare Lament The Wall Street Journal - Mon, Sep 26, 2016 8:15 AM AEST

    ObamaCare won’t work without young Americans like me, and the Obama administration knows it. The health-insurance companies selling plans on the law’s exchanges need us to pay a pretty penny in premiums without using much medical care. It fell apart when we didn’t sign up in droves like the White House expected.

  • Self-Driving Cars Will Transform Everything The Wall Street Journal - Mon, Sep 26, 2016 3:34 AM AEST

    Scott Keogh (“The Dangers of ‘Self-Driving’ Car Hype,” op-ed, Sept. 20) claims that automated vehicles will virtually eliminate human error and will have the potential to prevent an estimated 90% of collisions, saving about 30,000 lives annually. If it isn’t human error, I would have to blame the manufacturer, wouldn’t you?

  • The Looming Storm in Insurance The Wall Street Journal - Sat, Sep 24, 2016 11:01 PM AEST

    This is most obvious in property reinsurance, but that is one symptom of a squeeze across the sector. Global catastrophe reinsurance prices fell this year below levels last seen in 2001 before the destruction of the World Trade Center, according to Guy Carpenter, a risk and reinsurance specialist owned by brokers Marsh & McLennan.

  • Oxford Tops List of World’s Best Universities The Wall Street Journal - Thu, Sep 22, 2016 7:21 AM AEST
    Oxford Tops List of World’s Best Universities

    The U.S. has many of the best universities in the world, but according to a new global list, it doesn’t have the best. The University of Oxford, the oldest in the English-speaking world, took the top spot in the latest World University Rankings, released annually by Times Higher Education. The English university dating to 1096 dethroned the California Institute of Technology, a small, private school in Pasadena that had ranked No. 1 for five consecutive years, according to Times Higher Education, a London magazine that tracks higher education.

  • If the Government Thinks You’re Dead, That’s Really Hard to Fix The Wall Street Journal - Thu, Sep 22, 2016 2:19 AM AEST

    GRAVESEND, England—Andy Kirchin, 56 years old, doesn’t remember the day he died. He was visiting his brother in South Africa last year at the time. “Maybe we were on a safari, or maybe we were drinking ...

  • Zara’s Success Shrouded in E-Commerce Secrecy The Wall Street Journal - Wed, Sep 21, 2016 11:28 PM AEST

    Inditex, parent of the Zara clothing chain, asks its shareholders to accept a lot on trust. Constant-currency sales rose 15% year over year in the second quarter—down from 17% in the first quarter, but slightly better than most analysts had expected and far better than the growth rates on offer from H&M or ABF’s Primark, let alone shrinking GAP. For each of its chains—including the Zara flagship that accounts for two-thirds of sales—Inditex holds a central inventory pool in Spain that serves both shops and e-commerce globally.

  • It’s Still Clinton’s Race to Lose The Wall Street Journal - Wed, Sep 21, 2016 9:12 AM AEST

    Only 32% of likely voters believe that Mrs. Clinton is honest, compared with a larger but still dismal 40% for Mr. Trump. Asked to explain why they do not regard Mrs. Clinton as honest enough to be president, roughly equal shares of the naysayers cite her private email server, the Benghazi attack, and their impression of her as evasive and calculating.

  • The Reasons Behind the Obama Non-Recovery The Wall Street Journal - Wed, Sep 21, 2016 9:09 AM AEST

    The Obama administration and some economists argue that the recovery since the Great Recession ended in 2009 has been unusually weak because of the recession’s severity and the fact that it was accompanied by a major financial crisis. Empirically, the growth rate during a recovery relates positively to the magnitude of decline during the downturn. In our paper, “Rare Events and Long-Run Risks,” we examined macroeconomic disasters in 42 countries, featuring 185 contractions in GDP per capita of 10% or more.

  • How to Help a Teen With Anxiety The Wall Street Journal - Wed, Sep 21, 2016 5:50 AM AEST

    Q: Your column on teen development was helpful. My teenage daughter has been telling me that she has a lot of anxiety, and I’m not sure how to help. E.B. A: Anxiety is a problem if it is preventing your ...

  • Apple’s Siri: A Lot Smarter, but Still Kind of Dumb The Wall Street Journal - Wed, Sep 21, 2016 3:01 AM AEST
    Apple’s Siri: A Lot Smarter, but Still Kind of Dumb

    Me: Siri, how are you tonight? Siri: I’m happy to be alive! Me: Me too. So, I’m thinking ramen for dinner. Siri: OK, one option I see is Totto Ramen, which averages 4 stars and is moderately priced. Me: Great. Looks like I’m going to be needing a Lyft. Siri: Lyft can be there in 6 minutes. Do you want to request it? Me: Yes. Great work! Siri: Aw, shucks.

  • Why the Paperless Office Is Finally on Its Way The Wall Street Journal - Mon, Sep 19, 2016 10:37 AM AEST

    This is why HP Inc.’s acquisition of Samsung Electronics Co.’s printing and copying business last week makes sense. HP, says a company spokesman, has less than 5% of the market for big, high-throughput office copying machines. The company says the acquisition will incorporate Samsung’s technology in new devices, creating a big opportunity for growth.

  • Unilever Is in Talks to Acquire Jessica Alba’s Honest Co. The Wall Street Journal - Fri, Sep 16, 2016 9:51 AM AEST
    Unilever Is in Talks to Acquire Jessica Alba’s Honest Co.

    Unilever PLC is in talks to acquire Honest Co., the consumer-products retailer co-founded by actress Jessica Alba, according to people familiar with the matter. Unilever, maker of Dove soaps and Axe body sprays, is discussing a deal valued at over $1 billion but significantly less than the $1.7 billion valuation that was placed on Honest in a fundraising round last year, the people said. The talks are at an early stage, and Honest hasn’t ruled out going for an initial public offering instead, one of the people said.

  • Greater Share of U.S. Workers Testing Positive for Illicit Drugs The Wall Street Journal - Thu, Sep 15, 2016 11:00 AM AEST
    Greater Share of U.S. Workers Testing Positive for Illicit Drugs

    The share of U.S. workers testing positive for illicit drug use reached its highest level in a decade, according to data from millions of workplace drug tests administered by Quest Diagnostics Inc., one of the nation’s largest medical-screening laboratories. Detection of illicit drugs—from marijuana to heroin to methamphetamine—increased slightly both for the general workforce and the “safety-sensitive” workforce, which includes millions of truck drivers, pilots, ship captains, subway engineers, and other transportation workers. Overall, 4% of worker drug tests were positive in 2015.

  • Get Ready for Startling Shifts in Fashion The Wall Street Journal - Thu, Sep 15, 2016 8:26 AM AEST

    The fashion industry is always looking for a tectonic shift on the runways—a look so different that it shocks consumers and leaves them realizing they don’t yet own, say, an electric-lemon-colored crushed-velvet sheath. Who wowed 'em at New York fashion week? WSJ fashion reporter Christina Binkley joins Lunch Break with Tanya Rivero fresh from the runways with trends and designers to watch.

  • Newport’s ‘Pleasure Lounge’ Aims to Ignite Cigarettes Sales The Wall Street Journal - Wed, Sep 14, 2016 1:25 PM AEST
    Newport’s ‘Pleasure Lounge’ Aims to Ignite Cigarettes Sales

    Workers for Newport, the nation’s No. 2 cigarette brand, spent the summer handing out coupons for cigarettes at a price of $1-a-pack. The vouchers—distributed at concerts, bars and convenience stores—have been part of an aggressive push by Newport-owner Reynolds American Inc., to target young adult smokers and boost Newport sales. The cigarette brand was the primary reason Reynolds bought rival Lorillard Inc. for $25 billion last year.

  • Big Oil’s New Focus on Natural Gas The Wall Street Journal - Wed, Sep 14, 2016 12:02 PM AEST

    Alongside the diesel pumps are fuel tanks with a special nozzle used to pump liquefied natural gas—an experiment that Shell is hoping can help it stay ahead of shifting trends in energy consumption. Shell’s LNG fueling stations in Waalhaven and elsewhere are just one piece in a grand strategy to build new markets for the company’s growing natural-gas business—and get a jump on the competition. Shell is the most active of the international oil companies in LNG for transportation fuel.

  • As LED Streetlights Spread, Some Critics Look for Dimmer Switch The Wall Street Journal - Wed, Sep 14, 2016 12:01 PM AEST

    Cities around the world are replacing old streetlights with energy-efficient LEDs. Streetlights that use light-emitting diodes have a lot of appeal. The number of LED streetlights in the U.S. grew to 5.7 million in 2014, or about 13% of all streetlights, from 1.3 million in 2012, according to the U.S. Energy Department.

  • President Obama to Increase Refugees Admitted to U.S. by 30% The Wall Street Journal - Wed, Sep 14, 2016 11:59 AM AEST

    The Obama administration plans to raise the number of refugees admitted to the U.S. to 110,000 in the 2017 fiscal year starting Oct. 1, from 85,000 this fiscal year, according to an annual refugee report to Congress obtained by The Wall Street Journal on Tuesday. President Barack Obama was widely expected to announce an increase in the U.S. commitment ahead of a summit on refugees that he is convening next week during the United Nations General Assembly meeting. The 110,000 target for 2017 for individuals fleeing persecution and conflict around the world represents a nearly 30% increase over this fiscal year and an almost 60% increase over the 70,000 admitted in 2015. A year ago, President Obama pledged to accept 10,000 Syrian refugees into the U.S. Donald Trump and others opposed the idea.

  • SpaceX Seeks to Return Falcon 9 to Service in November The Wall Street Journal - Wed, Sep 14, 2016 11:09 AM AEST

    LONG BEACH, Calif.—Space Exploration Technologies Corp. on Tuesday said it aims to resume Falcon 9 launches as early as November from an alternate pad, after a rocket explosion during ground tests two weeks ago caused what the Air Force calls moderate damage to its launch site. Senior Air Force and NASA officials, who addressed the issue while attending a space conference here, didn’t elaborate on the specific damage to the pad and declined to predict when flights might start up again, emphasizing that SpaceX, as billionaire entrepreneur Elon Musk’s company is known, is heading up the investigation.

  • How to Be a Better Manager in 30 Minutes a Week The Wall Street Journal - Wed, Sep 14, 2016 2:27 AM AEST

    When Mark Horstman and Mike Auzenne began talking about management in the early 1980s while stationed at a Hawaii army base, they never anticipated that their discussions would someday garner over a million downloads a month. Since its 2005 launch, their weekly podcast, “Manager Tools,” has attracted notable listeners, including Craig Glidden, general counsel of General Motors Co. The program has topped the business category of the People’s Choice Podcast Awards several times, and last month it received 1.4 million downloads on iTunes.

  • Apple’s New AirPods May Look Weird, but They Work Great The Wall Street Journal - Tue, Sep 13, 2016 9:49 PM AEST

    No other Apple product in recent memory has been the source of so much hostility. Apple removed the headphone jack to make space inside the slim iPhone frame for stuff you may want more, like extra battery and a better camera.

  • The Unexpected Ways Sleep Deprivation Makes Life Tougher The Wall Street Journal - Tue, Sep 13, 2016 11:11 AM AEST

    Scientists are gaining new insights into just how lack of sleep can upset our emotional equilibrium. Researchers have found that people who are sleep-deprived have difficulty reading the facial expressions of other people, particularly when the expressions are more subtle. Using neuroimaging, scientists are discovering certain patterns of brain activity that may be behind the emotional volatility that can be caused by lack of sleep.

  • Bar Cars Set for Return to Metro-North Railroad The Wall Street Journal - Tue, Sep 13, 2016 10:20 AM AEST

    The bar once again will be open on the New Haven Line of the Metro-North Railroad. “We are so excited,” said Terri Cronin, who commutes between East Norwalk, Conn., and Grand Central Terminal. The Connecticut Department of Transportation has ordered 60 new train cars, and 10 of those will be retrofitted to include a bar, said one of the people familiar with the matter.

  • Music Industry’s Latest Piracy Threat: Stream Ripping The Wall Street Journal - Tue, Sep 13, 2016 9:44 AM AEST

    Earlier this year, a federal judge shut down the free music-download site Mp3skull.com and awarded $22 million to the record companies that had sued it for copyright infringement. As music-streaming services blossomed over the past decade, so have mobile apps and sites allowing users to create MP3 files from songs streamed on free services such as Alphabet Inc.’s YouTube. Fans can listen to the songs without YouTube’s ads—and without having to buy the songs or pay for a subscription service such as Spotify AB and Apple Inc.’s Apple Music.

  • ‘I Call Top Bunk!’ Some Companies Make Executives Travel by Bus The Wall Street Journal - Tue, Sep 13, 2016 1:11 AM AEST

    UNIONDALE, N.Y.—A good night’s sleep is something John Pergolizzi promises others as a vice president at mattress retailer Sleepy’s. So he wondered one evening this summer just how he found himself wedged into a 20-inch-tall bunk space on a bus parked outside a Marriott here on Long Island. The executives of Mattress Firm Holding Corp. and Sleepy’s took a cozier business trip together this summer, after Mattress Firm bought Sleepy’s, spending nights crammed onto a 45-foot bus that sleeps 12. Bunking in a 450-square-foot space alongside fellow executives between stops, though, created awkwardness.

  • How to Get More Pleasure Out of Retirement Spending The Wall Street Journal - Mon, Sep 12, 2016 12:06 PM AEST

    When I came back from a trip recently, I surprised my 6-year-old daughter with a box of chocolate truffles. In return, she surprised me with an insight into retirement planning—and why we’re doing it all wrong. Maya inspected the truffles and announced that, since she could only have one every night, she was going to start with the white chocolate, “because I like it the least.

  • Good News Liberal-Arts Majors: Your Peers Probably Won’t Outearn You Forever The Wall Street Journal - Mon, Sep 12, 2016 12:05 PM AEST

    Six years ago, Andy Anderegg’s decision to major in English looked like an economic sacrifice. When she left academia in 2010, with a master’s degree in fine arts from the University of Kansas, the first job she landed was a Groupon Inc. writing gig paying all of $33,000 a year. Today, at age 30, she is executive editor at Soda Media Inc., a Seattle creator of online content, and building up her own digital-media consulting practice.

  • The More Cash People Have, the Happier They Are The Wall Street Journal - Mon, Sep 12, 2016 12:03 PM AEST

    Meanwhile, a separate study suggests that buying material things can make you happier—but only if the things you buy fit your personality. The Wall Street Journal spoke recently with Joe Gladstone, research associate at the University of Cambridge in the U.K. and co-author of both studies. WSJ: Why did you decide to look at the link between bank balances and happiness?

  • Six Common Mistakes People Make With Their Student Loans The Wall Street Journal - Mon, Sep 12, 2016 12:03 PM AEST
    Six Common Mistakes People Make With Their Student Loans

    Meanwhile, many others are struggling to find enough money, after making their loan payments, to save for retirement. Among 401(k) participants with student debt in plans administered by Fidelity Investments, two-thirds say they have reduced or stopped their 401(k) contributions or have taken out a 401(k) loan or hardship withdrawal. With total college-loan debt in the U.S. more than five times what it was just 20 years ago, “the consequences of managing that debt have never been greater,” says Heather Jarvis, an attorney who teaches financial professionals about student loans.

  • Are investors more or less willing to take on risk after a big money loss? The Wall Street Journal - Mon, Sep 12, 2016 12:02 PM AEST
    Are investors more or less willing to take on risk after a big money loss?

    After a big financial loss, are people going to be more or less willing to take a big risk? “A person who hasn’t made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise,” psychologist Daniel Kahneman, a Nobel laureate, and Amos Tversky wrote in a 1979 paper. “Losses that come on the heels of prior losses may be more painful than average…after a prior loss, the person becomes more loss-averse,” Nicholas Barberis, Ming Huang, and Tano Santos wrote in a 2001 paper in the Quarterly Journal of Economics.