World

The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and stronger government spending, the Commerce Department reported Wednesday. Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% …

Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is seeking as many as two board seats in a push to improve the company’s performance, according to a Wednesday letter from the activist investor. Phillips 66’s stock rose more than 5% in early trading Wednesday. The …

Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022. Bloomberg | Bloomberg | Getty Images The influential Organization of Petroleum Exporting Countries and its allies, collectively known as OPEC+, convene to decide next production policy steps on Thursday, in a postponed virtual meeting overshadowed by conflict in the Middle …

Gary Cohn, vice chairman of International Business Machines Corp. (IBM), during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, Oct. 19, 2021. Kyle Grillot | Bloomberg | Getty Images The U.S. economy is “back to normal” for the first time in two decades, but the market …

A security guard at the New York Stock Exchange (NYSE) in New York, US, on Tuesday, March 28, 2023. Victor J. Blue | Bloomberg | Getty Images With central banks having hiked interest rates at breakneck speed and those rates likely to stay higher for longer while the lagged effects …

SHANGHAI, CHINA – NOVEMBER 12, 2023 – Customers experience Luxeed S7, the first intelligent pure electric vehicle, at Huawei’s flagship store in Shanghai, China, November 12, 2023. (Photo by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images BEIJING — Chinese telecommunications and smartphone giant Huawei is doubling down …

Pedestrians walk past the Reserve Bank of New Zealand headquarters in Wellington, New Zealand, on Thursday, Sept. 13, 2012. Mark Coote | Bloomberg | Getty Images The New Zealand dollar jumped 1% to nearly 0.62 against the U.S. dollar after the Reserve Bank of New Zealand held its official cash rate …

Pedestrians walk across a road in Seoul on June 20, 2023. Anthony Wallace | Afp | Getty Images South Korean stocks have so far emerged as an undervalued and underloved part of Asia-Pacific equity markets but that is exactly what could make them attractive to investors next year, according to …

Bob Iger, Disney, at Apple program Source: Apple Disney Chief Executive Officer Bob Iger told employees Tuesday during an internal town hall that he is looking forward to “building again” after spending 2023 mending parts of the business that “needed attention.” “I feel that we’ve just emerged from a period …

Berkshire Hathaway Vice Chairman Charlie Munger, who died Tuesday at age 99, offered what turned out to be sage advice to his buddy and investment legend Warren Buffett years ago: live life backwards. Munger years ago told the somewhat younger Buffett, 93, how he should live his life, according to …