The Federal Reserve on Thursday voted to require large banks to preserve capital by suspending share repurchases and cap dividend payments in the third quarter. In a 4-to-1 vote, the Fed will tie the distribution of dividends to a formula based on recent income. The formula sets third-quarter dividends at a level equal to average […]
WASHINGTON — Although his presidential bid failed to gain traction, former Rep. Beto O’Rourke came within a hair of becoming a senator from Texas in 2018 and performed better than any Democrat in a statewide race in nearly 30 years. Forgoing a more traditional post-run path of cable punditry, O’Rourke has remained quieter than some […]
On Thursday, the Grammy Award-winning country trio the Dixie Chicks announced they had dropped the word “Dixie” from their name. “We want to meet this moment,” the group, now known just as the Chicks, said in a message posted to its website that accompanied the release of a new song and video praising young protesters. […]
Wilmington Police Chief Donny Williams on Wednesday announced the firing of three officers. WWAY Three officers were fired from the Wilmington Police Department in North Carolina on Tuesday over racist comments captured on one of their in-car cameras. The former officers — James Gilmore, Jesse Moore II, and Kevin Piner — had all been on […]
The coronavirus pandemic has led to a dramatic decline in mortgage rates. But that doesn’t mean now is a good time to refinance for everyone. Last week, Freddie Mac FMCC, -0.94% reported that mortgage rates hit a new record low for the fourth time this year, with the average rate on a 30-year fixed-rate mortgage […]
American drivers are likely to pay the cheapest summer prices for gasoline in four years, according to a forecast released by motorist and leisure travel group AAA on Thursday. National gas prices are likely to average near $2.25 a gallon for the third quarter of this year, representing a 15% decline from the $2.66 average […]
TOKYO — SoftBank Group Corp. Chief Executive Masayoshi Son said Thursday that he is stepping down from the board of Chinese e-commerce giant Alibaba Group Holding Ltd., effective the same day. Son’s announcement, which he made at the end of SoftBank’s 9984, -0.48% annual shareholder meeting, follows the resignation — also effective Thursday but announced […]
Flare ups of COVID-19 cases in the U.S. have delivered a fresh gut check to bulls on Wall Street, following an unprecedented market rebound from a coronavirus-ignited downturn back in March. Cases in the South and West of the U.S. have accelerated and threaten to reverse, or stall, plans to reopen economies nearly frozen for […]
SEATTLE (AP) — A collection of Seattle businesses, property owners and residents sued the city Wednesday over its tolerance of an “occupied” protest zone, saying officials have been complicit in depriving them of their rights to their property. The plaintiffs — including a tattoo parlor, auto repair shop and property management firm — emphasized in […]
The Democratic National Committee said Wednesday that Joe Biden will accept the presidential nomination in Milwaukee, but the party will urge delegates to skip the summer convention because of coronavirus concerns. The DNC said convention organizers will encourage state delegations to plan to conduct their official business remotely. The committee is developing a process to […]