The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
United Airlines will take its 14 Boeing 737 Max jets off its schedule for another month, through Aug. 3, canceling another 1,290 flights.Airlinesread more
Trade could be a big factor for markets in the week ahead, but investors will also be attuned to fresh inflation data and the bond market, which is flashing new worries about...Market Insiderread more
Mississippi is one of several states that have moved to pass new restrictions on abortion this year.Politicsread more
The former chairman of the Co-Operative Bank, one of the U.K.'s biggest retail banks, has been caught buying cocaine in a U.K.tabloid newspaper sting.
Paul Flowers, a Methodist minister, was filmed by an acquaintance he met through gay dating app Grindr paying £300 for cocaine, just days after he appeared in front of an influential committee of U.K. politicians to help explain why a proposed tie-up between the Co-op bank and Lloyds did not work out. He was also filmed talking about taking ketamine and crystal meth, and the acquaintance said he also discussed smoking crack cocaine.
The Co-op Bank planned to buy hundreds of Lloyds Bank branches but was forced to pull out of the deal in April. At the time, the bank, which prides itself on its ethical policies, said that the economic environment was to blame – but has since admitted a £1.5 billion capital shortfall and announced a restructure of its debt. Flowers left the bank in June after the collapse of the deal, dubbed Project Verde.
(Read more: Co-op cedes control of bank in £1.5 billion rescue)
Flowers, Co-op's chairman for nearly three years, had little experience of the financial world when he joined. His appearance in front of the Treasury Select Committee earlier in November featured a number of errors on the bank's figures, including the statement its balance sheet had £3 billion of assets, although it actually had £47billion. He also admitted he did not know how much the bank lent to its borrowers.
His performance was described by the head of the committee, Andrew Tyrie, as "further evidence that the chairman of a bank must have a good deal of financial expertise."
(Read more: Co-op bank boss quits after debt rating downgrade)
Flowers, who used to be the director of a drugs and alcohol addiction charity, said in a statement: "This year has been incredibly difficult with a death in the family and the pressures of my role with the Co-operative Bank.
"At the lowest point in this terrible period, I did things that were stupid and wrong.
"I am sorry for this, and I am seeking professional help, and apologize to all I have hurt or failed by my actions."
He has been suspended from his work as a Methodist minister and is reported to have gone into hiding to flee media attention following the story.