Fed Holds Interest Rates Steady and Says Slow Growth Was Likely to Be ‘Transitory’

By BINYAMIN APPELBAUM May 3, 2017 • The Federal Reserve did not change its benchmark interest rate at its May meeting. As was widely expected, the Fed left the rate in a range between 0.75 percent and 1 percent. • Officials are not worried about...

Estee Lauder up 4% as latest quarter shows how it is defying slumping mall traffic

As Wall Street worries about dying department stores and falling foot traffic in malls, Estee Lauder says its makeup business is growing steadily. The cosmetic maker, which owns brands like MAC, Origins and Clinique, reported third-quarter earnings and sales on...

Puerto Rico starts $70 billion bankruptcy proceeding, biggest ever for municipal bond market

Puerto Rico has officially requested to enter into a bankruptcy-like proceeding to restructure its massive debt load after talks with its creditors failed. Puerto Rico’s governor, Ricardo Rossello, announced Wednesday that he had requested that the federally...

CEO: Even to help your business save money, don’t skimp on one crucial thing

My first hires, and why I picked them Let me back up a bit. The Penny Hoarder acqui-hired a content management firm owned by Alexis Grant, a well-respected writer and digital strategist, in July 2015. The first person I hired was Sarah, my executive assistant, whose...