The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday — breaching a key psychological level.Bondsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Another private equity-backed retailer has filed for bankruptcy.
Women's apparel company Charlotte Russe on Sunday filed for Chapter 11 bankruptcy protection and said it planned to shut about 94 stores.
Charlotte Russe said in a press release Monday morning that it was continuing to pursue a sale of its business after having received a commitment of $50 million in debtor-in-possession financing. During court proceedings, it said it will continue to operate its website and keep open other Charlotte Russe and Peek Kids locations. It has more than 500 shops operating across the U.S.
The company added it will provide additional information about closing sales and the addresses of the stores set to shut "in the near term."
In 2009, private equity firm Advent International bought Charlotte Russe in a $380 million deal. The mall-based apparel brand has since struggled as it tried to downsize its debt load. Early last year, it managed to strike a deal where it reduced its debt by $124 million.
The CEO of Simon Property Group, the biggest mall owner in the U.S., just last week said he expected more private equity-backed retailers to file for bankruptcy this year, though he didn't name any particular companies.
Also on Sunday, FullBeauty, a plus-sized apparel retailer based in New York, filed for bankruptcy protection, adding to a growing roster of retailers to go that route this year. Gymboree and Shopko also filed last month.