Monetary policy in developed markets like Japan and Europe is failing, and faltering in the U.S., in substantial part because globalization has altered how investment is made and where. The upshot is that fiscal stimulus is the next magic bullet of choice in the slow-motion older economies, but one which may misfire or miss the mark. One of the huge puzzles of the long, shallow recovery is why capital investment in the large economies no longer responds with vigor to cuts in interest rates or other newer tactics like asset purchases.
NEW YORK—Even before Sunday night's vicious presidential debate, Republican Donald Trump was losing ground in many of the states he needs to win to capture the presidency, according to the latest Reuters/Ipsos States of the Nation Project analysis released on Monday. The project estimates that if the election had been held at the end of last week, Democratic candidate Hillary Clinton had at least a 95 percent chance of winning enough states to reach the minimum 270 Electoral College votes needed to become the next president, based on polling between Sept. 30 and Oct. 7.
Billionaire investor Warren Buffett denied on Monday an allegation by Republican presidential candidate Donald Trump that he, like Trump, had taken "a massive deduction" that allowed him to avoid federal income taxes. Buffett said he paid about $1.85 million in income tax in 2015, and that returns for previous years were similar in respect to contributions, deductions and tax rates. Buffett said he was being audited by the Internal Revenue Service, but had "no problem" releasing his tax information.
WASHINGTON — It wasn't just Deutsche Bank that was grappling with big questions about the future at the International Monetary Fund meetings in Washington last week. The German bank is scrambling to overhaul its operations as it faces a multi-billion dollar fine for selling toxic mortgage-backed securities in the United States.
SEOUL — Samsung Electronics has suspended production of its flagship Galaxy Note 7 smartphones, a source on Monday said, after reports of fires in replacement devices added to the tech giant's worst ever recall crisis. Top U.S. and Australian carriers also suspended sales or exchanges of Note 7s, while major airlines reiterated bans on passengers using the phones, after smoke from a replacement device forced the evacuation of a passenger plane in the United States last week.
MINNEAPOLIS — The Minnesota Vikings sprinted to a big early lead, and played their evolving brand of smothering defense to remain unbeaten in 2016 with a 31-13 win over the Houston Texans on Sunday.
PALM SPRINGS, Calif.—Two police officers were shot and killed in the Southern California desert town of Palm Springs on Saturday, Oct. 8, after they were called to a family dispute...
NEW YORK — Republican presidential candidate Donald Trump on Friday accused U.S. authorities of speeding citizenship proceedings for some illegal immigrants so they can vote, returning to a core issue as he girded for a second debate against Democrat Hillary Clinton. "They're letting people pour into the country so they can go and vote," Trump said during a meeting with representatives of the National Border Patrol Council, the union that represents Border Patrol agents, at Trump Tower in New York.
LOS ANGELES/SAN FRANCISCO — Clamshell grills are making burger flipping obsolete at McDonald's, Johnny Rockets and other burger chains. Digital kiosks, tabletop tablets and mobile phones are taking orders at eateries like Panera, Chili's Grill & Bar and Domino's. And at Silicon Valley start-up Zume, robots are being programmed to take over pizza assembly.
Investments in Charles Schwab Corp's "robo adviser" service grew to surpass $10 billion in September, more than double the year-ago level, a spokeswoman said Thursday. The automated investment service, Schwab Intelligent Portfolios, allocates cash among exchange-traded funds according to formulas based on client questionnaires. The San Francisco-based company previously reported the program's total assets stood at $4.1 billion at the same time in 2015 and at $8.2 billion at the end of the second quarter.