Harvey Pitt, a legal wunderkind who lasted just 18 months as chairman of the Securities and Exchange Commission under President George W. Bush, died on Tuesday in Washington. He was 78. His death, in a hospital, came after a sudden illness, according to his family, which did not specify the ailment. Mr. Pitt’s career had three consecutive legs, any one […]

Ajay Banga officially became the 14th president of the World Bank on Friday and urged staff to join him in developing a “new playbook” for a global institution whose relevance has come into question in recent years. The ascension of Mr. Banga to be the next leader of the bank comes at a pivotal moment in its 77-year history. The […]

The wager was supposed to be a no-brainer. China was reopening after nearly three years of pandemic lockdowns, and investors expected that its economy, the world’s second-largest, would come roaring back to life. Chinese stocks soared. But that bet has soured. This week, Chinese stocks that are traded in Hong Kong sank briefly into a bear market, after losing more […]

The News Adidas is going to start selling the first pairs of its leftover Yeezy sneakers, a step toward resolving a $1.3 billion inventory headache that has plagued the sportswear company since it severed ties with Kanye West, the rapper known as Ye, over a string of anti-Semitic remarks by the musician. Adidas said a “significant amount” of the proceeds […]

When it comes to JPMorgan Chase’s nearly 15-year business relationship with Jeffrey Epstein, Jamie Dimon, the bank’s longtime chief executive, claims to have little firsthand knowledge about the disgraced financier. During a deposition taken on Friday, Mr. Dimon repeatedly denied meeting Mr. Epstein, or communicating with him, and also said he had no recollection of being briefed by his top […]

The News Walmart, the nation’s largest private employer, said on Wednesday that it was increasing the wages for its 7,700 pharmacists and opticians, as it expands its health business and seeks to retain the workers in a competitive environment. The retailer said the raise would push the average annual salary of its than more 3,700 pharmacists to more than $140,000. […]

European leaders complained for years that the United States was not doing enough to fight climate change. Now that the Biden administration has devoted hundreds of billions of dollars to that cause, many Europeans are complaining that the United States is going about it the wrong way. That new critique is born of a deep fear in Germany, France, Britain and other […]

Has oil activism peaked? The annual shareholder meetings of Exxon Mobil and Chevron, scheduled for Wednesday, are set to be largely sedate, as they will be held virtually. But their European rivals had raucous meetings last week, with environmental protesters storming the stage at Shell’s gathering and clashing with tear-gas-wielding police outside Total’s. Despite the drama, however, climate-focused shareholder activists […]

In August 2021, the Fox Corporation board of directors gathered on the company’s movie studio lot in Los Angeles. Among the topics on the agenda: Dominion Voting Systems’ $1.6 billion defamation lawsuit against its cable news network, Fox News. The suit posed a threat to the company’s finances and reputation. But Fox’s chief legal officer, Viet Dinh, reassured the board: […]

Contributions to 529 college savings programs fell late last year and early this year, according to industry data, as consumers saved less overall and battled high inflation. But contributions appeared to be rebounding in recent months. The state-sponsored savings accounts, named for a section of the tax code, can be used to pay for education expenses, primarily college costs. Money […]