By Caroline Valetkevitch | NEW YORK U.S. stocks dropped on Friday, giving the S&P 500 its worst day since June as investor nervousness increased following a nuclear test by North Korea and Federal Reserve officials’ comments lifted rate hike bets. The CBOE Volatility index .VIX closed at its highest level since late June, while…
U.S. Internet firm Yahoo is being acquired by American telecom giant Verizon. Yahoo will be combined with AOL, another past internet star, purchased by Verizon last year. The price tag is well below the $44 billion Microsoft offered for Yahoo in 2008 or the 125 billion it was worth during the dot.com boom. The sales…
Beleaguered Fox News chairman Roger Ailes resigned effective immediately Thursday amid growing allegations of his sexual harassment of on-air talent. The long-time head of Rupert Murdoch’s $2 billion cable news operation will be replaced by his 85-year-old boss atop Fox News, according to a release from 21st Century Fox. Ailes will stay on with the…
