President Barack Obama took office in the middle of a financial crisis with Corporate America hemorrhaging jobs. He leaves with stocks near record highs and 75 straight months of job creation. Yet his economic legacy is marred by a long run of slow wage growth, low worker productivity and the slowest economic expansion in post-World War II history.
Shares in Pearson plunged more than 30% after the world’s largest education company issued a profit warning for 2018 and said it plans to sell its stake in its Penguin Random House publishing joint venture.
President Barack Obama pushed through a more complete safety net and a more redistributive tax code, but his efforts to remake finance, technology, energy and labor markets are in doubt, writes Greg Ip.
Small and midsize companies are rethinking or delaying entry to Iran following the election of Donald Trump, a break from their bigger counterparts which have struck recent deals despite concerns of fresh sanctions.
General Motors Co. agreed to pay a $1 million penalty to settle charges from U.S. securities regulators that the Detroit auto giant failed to alert its accountants to a defective ignition switch in a timely manner.
Wilbur Ross, the billionaire investor tapped by President-elect Donald Trump to serve as his commerce secretary, on Wednesday took the incoming administration’s tough-on-China trade talk to Capitol Hill.