Blackstone, the biggest private-equity firm, says one of its top executives, Bennett Goodman, would retire. Goodman founded GSO, which was bought by Blackstone in 2008 and became the nucleus of the private-equity firm's rapid expansion into the risky business of investing in loans of junk-grade companies.
While the products used by consumers are growing solidly, those refined products that are used solely for commercial operations are showing signs of a slowdown.
Investment bank says historical trends indicate the U.S. will see a recession next May. Stocks would sell off roughly five months beforehand.
The U.S. government's Bureau of Economic Analysis reduces its estimate of second-quarter gross domestic product growth to 2%, from an initial estimate of 2.1%.
Autodesk's management pinned its weak guidance on the global trade conflict and slowing eurozone economy.
President Donald Trump has suggested via Twitter that Jerome Powell, his own appointee to lead the Federal Reserve, might be an 'enemy' worse than Chinese President Xi Jinping. Powell says the Fed is an independent institution, and insists he wouldn't step down if Trump tried to fire him. But how does it feel to be constantly berated, in public, by the leader of the world's most powerful country?
The 10-year treasury has fallen to its lowest level against the 2-year treasury since 2007, signaling heightened fears of a recession.
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