- Hacking software could put ‘zombie drone army’ in user’s hands
- Support for stricter gun laws drops: poll
- 10 whales dead, 41 others stranded in Everglades
- John Boehner faces bipartisan pressure to allow gay-rights vote
- Martin Bashir resigns from MSNBC over ‘ill-judged’ comments about Sarah Palin
- Rep. Duncan Hunter: While Obama prays for Iranian change, U.S. should ready its nukes
- Best company ever? Veteran Beer Co. exists to employ vets, provide quality beer
- Iran official: Sanctions ‘utterly failed’ to stop nuclear program
- ‘Black Santa’ display at IU sparks student outrage
- Joint Chiefs chair Dempsey: Pentagon, VA too slow in merging medical systems
Question of the Day
Stocks jump; Dow posts best gain in 2 weeks
NEW YORK — Stocks posted their biggest jump in nearly two weeks Tuesday. Investors picked up cheaply priced stocks after fears that the U.S. would slip into a recession pounded the market during the last month.
The Dow jumped 322.11 points, its best day since Aug. 11, when it gained 423.
The Dow, which tracks 30 huge U.S. companies including IBM Corp. and General Electric Co., closed with a gain of 3 percent at 11,176.76. Indexes that track smaller stocks did even better, a sign that investors were more willing to take on risk.
The S&P 500 index rose 38.53 points, or 3.4 percent, to 1,162.35. The Nasdaq composite index, which tracks mainly technology companies, rose 100.68 points, or 4.3 percent, to 2,446.06. The Russell 2000 index of smaller U.S. companies gained even more, 4.9 percent.
S&P chief resigns; fund seeks parent split
NEW YORK — The president of Standard & Poor’s is stepping down just two weeks after the rating agency stripped the United States of its AAA credit rating. At the same time, an activist hedge fund is calling for S&P’s parent to break into four separate companies to unlock more value for shareholders.
McGraw-Hill Cos., the parent company, said the resignation of Deven Sharma was not related to Jana Partners’ breakup proposal or to S&P’s polarizing decision to downgrade its rating on U.S. debt. McGraw-Hill named Citibank’s chief operating officer, Douglas Peterson, to the S&P job late Monday.
Jana Partners, which had also called for new leadership at S&P, issued a terse response Tuesday to Mr. Peterson’s appointment. “Recognizing the need for help at S&P will be useful,” the firm said in a statement, “but to address years of chronic underperformance for its shareholders McGraw-Hill will need to take much bolder steps.”
Representatives from Jana Partners and the Ontario Teachers’ Pension Plan, which together own more than 5 percent of McGraw-Hill’s shares, presented a 26-slide show to McGraw-Hill leaders Monday.
New-home sales fall, 2011 could be worst year
Sales of new homes fell for the third straight month in July, a sign that housing remains a drag on the economy. If the current pace continues, 2011 would be the worst year for new-home sales on records dating back at least half a century.
By Tom Harris and Madhav Khandekar
Bad science puts rich nations on the hook for trillions in climate liabilities
- Hola: Boehner prepares to push amnesty bill through House
- Puerto Rico caravan honoring Paul Walker ends in 6 drunken-driving arrests, 72 speeding tickets
- First Dog Sunny knocks down Ashtyn Gardner; Michelle Obama yanks leash
- Martin Bashir resigns from MSNBC over 'ill-judged' comments about Sarah Palin
- EDITORIAL: Motor City meltdown
- Apple wins facial recognition patent for iPhone 6
- HURT: Postal Service misses address by a whole continent
- Allen West warns Obamas backdoor gun control is moving forward
- U.S. drops 2,000 mice on Guam by parachute to kill snakes
- Issa: FBI impeding inquiry into IRS targeting of conservative groups
Independent voices from the The Washington Times Communities
Wall Street news for retail investors who want to know what's going on.
Does it take over 25 years in public service to really know what goes on in Washington?
Despite cynicism about the law, it can provide you justice, protection, and ensure your rights.
All of the world’s problems, solved on your back porch