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The US economy added 151,000 jobs in August, fewer than forecast, while the unemployment rate was unchanged at 4.9%, according to data released Friday by the Bureau of Labor Statistics.
Donald Trump’s campaign reacted to the disappointing August jobs reporton Friday by contending it was further proof of the “stagnant Clinton-Obama economy.”
Apple CEO Tim Cook has continued to rail against the European Commission for Competition’s rulingthat the company got a special deal from Ireland to avoid taxes, which is against EU rules. And he said something else that raised some eyebrows.
In other news, Uber tried to buy Lyft but negotiations fell apart over price, TPG-Axon Capital Management is shutting its office in Hong Kong, and Hillary Clinton announced plan to address ‘unjustified’ price hikes on lifesaving drugs.
The average American is gripped by fear, according to Byron Wien, Blackstone’s vice chairman and investing guru.
“I do believe that a substantial portion of Americans go to sleep scared every night,” he said.
Finally, here are 26 airport travel hacks that’ll make your next flight a breeze.
Here are the top Wall Street headlines at midday:
See Wall Street’s slow, devastating decline in one chart-It has been a rough couple of years on Wall Street.
Amanda Staveley claims Barclays’ $3 billion Qatari investment was ‘dishonest’-Barclays lent $3 billion (£2.2 billion) to Qatari investors to buy the bank’s shares and help it avoid a government bailout at the height of the 2008 crisis, Amanda Staveley, the dealmaker at the centre of the transaction, alleged in court documents.
DEUTSCHE BANK: America’s ‘energy shock’ is over-One of the biggest stories over the past few years has been the struggling American energy sector.
Everyone should stop acting like the world is going to end–The headline averages of the major stock indexes appear to be riding high, sitting near all-time records set just a few weeks ago.
BYRON WIEN: I spent all summer meeting with rich people and no one was excited about anything-Blackstone vice chairman Byron Wien spent the summer meeting with power players in US finance, real estate, technology, and politics.
A shipping giant’s bankruptcy could have terrifying ripple effects on the economy-The bankruptcy of the Hanjin shipping line has thrown ports and retailers around the world into confusion, with giant container ships stranded and merchants worrying whether tons of goods will reach their shelves.
BERNANKE: The Fed shouldn’t shrink its $4.5 trillion balance sheet–I attended the Fed’s recent gathering in beautiful Jackson Hole, Wyoming-the first time I had been since the end of my term as Fed chairman. I enjoyed the opportunity to catch up with many friends and former colleagues.
This clothing line wants to solve the biggest problems with shopping for a work wardrobe-Ola Hixon used to hate shopping for professional workwear.