The Wall Street Journal is an iconic global newspaper that has been in print since 1889. With a circulation of about 2.4 million copies, it is the largest newspaper in the US. The newspaper has won the Pulitzer Prize for journalism an incredible 34 times. It is no surprise that the WSJ is a prime source of news for many people. What is the latest Wall Street news? Here are three top stories for this week.
1. Is Nepotism Illegal?
JPMorgan is being investigated by federal authorities after hiring children of Chinese officials in an effort to win business deals in China. So far, the bank has not been accused of wrongdoing. Evidence of the impact of hiring decisions is obvious, though, and the Wall Street news paper reports that the bank has been under fire recently for many questionable practices.
2. Further Developments in Hannah Anderson Case
The entire nation was gripped last week by the story of kidnapped Hannah Anderson, whose kidnapper James Lee DiMaggio was shot after opening fire on officers. Her mother and brother were found burned and dead in their home. New autopsy results indicate that Christina Anderson died of blunt force injury. In a strange twist noted by Wall Street News today, DiMaggio left his $112,000 life insurance policy to Hannah’s grandmother, whom he had lived with at one point for two years. Also eyebrow raising are search warrants showing that Hannah and DiMaggio called each other 13 times before their phones were shut off. Officials reiterate that Hannah is a victim, however.
3. The Rupee is Sliding
In Wall Street Business News, the rupee is falling in value. Indians going abroad often bring back televisions, to the tune of abour 3,000 a day. A new 36% TV tax is the latest measurement by the government aimed at halting the decline of the national currency. So far, nothing has been working, and a U.S. dollar currently buys about 65 rupees. The economy grew 5% over the last financial year, down from the 8% it averaged over the last decade.
What stories did you read about in the Wall Street news paper? Let us know in the comments!