U.S. stocks fell for a third day amid concern an improving economy will cause the Federal Reserve to reduce stimulus, while 10-year Treasuries advanced as the central bank bought debt. The pound approached a two-year high against the dollar and oil surged.
Detroit can remain under bankruptcy court protection and has the power to impose pension cuts on its employees, a judge said in a ruling that may have implications for distressed cities across the U.S.
Tesla Motors Inc. rose the most in almost four months after its Model S electric car was cleared of any defect in a German review following three recent fires and two analysts said the events won’t hurt the business.
Blackstone Group LP is in the spotlight as it prepares a record stock offering for the Hilton hotels chain. Its success building one of the nation’s biggest warehouse landlords has garnered far less attention.
By the time climate change reduces crop yields or frequently floods New York City subways, it will be too late to avert damage without better forecasting tools, a panel of scientists said in a report released today.