Latest Investment management News

Newest meme stock, Bed Bath & Beyond, tumbles after big day

Aug. 17, 2022 18:22 PM EDT

NEW YORK (AP) — Now comes the downside of the meme-stock craze for investors in Bed Bath & Beyond. The stock fell 16% in after-hours trading Wednesday following reports that a big-name investor with a cult-like following may sell his stake in the struggling retailer. It's a...

Sinema took Wall Street money while killing tax on investors

Aug. 13, 2022 20:55 PM EDT

WASHINGTON (AP) — Sen. Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party’s longtime goal of raising taxes on wealthy investors, received nearly $1 million over the past year from private equity professionals, hedge fund managers and venture capitalists whose taxes...

Dems change some tax provisions as they ready economic bill

Aug. 06, 2022 02:58 AM EDT

WASHINGTON (AP) — Democrats pared part of their proposed minimum tax on huge corporations and made other changes in their giant economic bill, Senate Majority Leader Chuck Schumer said Friday, as they drove toward delivering a campaign-season victory to President Joe Biden on his domestic agenda....

Sinema gives her nod, and influence, to Democrats' big bill

Aug. 05, 2022 15:49 PM EDT

WASHINGTON (AP) — Sen. Joe Manchin sealed the deal reviving President Joe Biden’s big economic, health care and climate bill. But it was another Democratic senator, Kyrsten Sinema of Arizona, who intently, quietly and deliberately shaped the final product. Democrats pushed ahead...

Olympia Sports is closing its remaining 35 stores

Aug. 05, 2022 13:15 PM EDT

PORTLAND, Maine (AP) — A Maine-based sporting goods chain that once had more than 200 stores on the East Coast is shuttering its remaining 35 stores. The company confirmed the stores would close by the end of September and that liquidation sales had begun at all locations. ...

Editorial Roundup: Michigan

Aug. 01, 2022 07:14 AM EDT

Traverse City Record-Eagle. July 31, 2022. Editorial: Weak state laws on mobile homes need fixed Michigan has more than 1,200 mobile home parks, with at least a dozen of them in the Traverse City area. Amid the array of housing choices in the region,...

Banks far from hitting Paris climate targets, groups warn

Jul. 28, 2022 14:59 PM EDT

The world’s most influential banks need to substantially accelerate climate efforts if global temperature rise is to be kept within the targets of the Paris Agreement, an assessment released Thursday by an institutional investors group warned. The efforts of 27 giant banks in North...

Rents spike as big-pocketed investors buy mobile home parks

Jul. 25, 2022 19:30 PM EDT

LOCKPORT, N.Y. (AP) — For as long as anyone can remember, rent increases rarely happened at Ridgeview Homes, a family-owned mobile home park in upstate New York. That changed in 2018 when corporate owners took over the 65-year-old park located amid farmland and down the road from...

Fed ethics inquiry clears Powell and Clarida trades

Jul. 14, 2022 17:25 PM EDT

WASHINGTON (AP) — The Federal Reserve's inspector general concluded Thursday that financial trades made several years ago by Chair Jerome Powell and Richard Clarida, then the vice chair, did not violate any laws or ethics rules. “We did not find evidence to substantiate the...

State lotteries transfer wealth out of needy communities

Jul. 11, 2022 18:38 PM EDT

WARREN, Mich. (AP) — While the growing expansion of casinos and state-sanctioned sports betting steal the spotlight, state lotteries have nearly doubled in size over the past two decades, driving a multibillion-dollar wealth transfer from low-income U.S. communities to powerful multinational...