There may be no government action more universally reviled in the U.S. than bank bailouts. Republicans and Democrats, financial industry lobbyists and watchdogs, Wall Street executives and President Barack Obama say taxpayers should never again rescue a failing bank.
Tesla Motors Inc., the maker of electric cars run by billionaire Elon Musk, surged 24 percent after posting a first profit, beating estimates and earning a top evaluation for its Model S sedan from Consumer Reports.
The number of Americans filing claims for jobless benefits unexpectedly dropped last week, and the average over the past month fell to the lowest level since before the last recession, showing employers have enough confidence in the economic outlook to hold onto workers.
Steven Cohen’s SAC Capital Advisors LP is giving clients more time to decide whether to pull money from the firm’s hedge funds amid a government investigation of insider trading, said a person familiar with the matter.
Billionaire John Paulson sought bankruptcy court protection for a real estate unit of his hedge fund after executives there were sued for alleged conflicts of interest in the asset sales of five bankrupt resorts.
Treasury 30-year bond yields traded at almost a one-month high before the U.S. sells $16 billion of the debt today amid speculation yields at about 3 percent and falling inflation expectations may attract investors.
Apache Corp., this year’s third-worst performing oil and natural gas producer on Standard & Poor’s energy index, plans to sell $4 billion in assets by yearend and buy back shares as first-quarter profit missed analysts’ estimates.
The euro rallied the most in three weeks against the dollar as German industrial production unexpectedly rose for a second month in March, a sign that Europe’s largest economy may be returning to growth.