US Defense Secretary Chuck Hagel speaks during a press conference where President Barack Obama announced Hagel's departure at the White House on Nov. 24, 2014 in Washington, DC.
Mandel Ngan/AFP/Getty

Business Latest: Hagel stepping down

 

HAGEL STEPPING DOWN: Defense Secretary Chuck Hagel is stepping down under pressure, the first cabinet-level casualty of the collapse of President Obama’s Democratic majority in the Senate and a beleaguered national security team that has struggled to stay ahead of an onslaught of global crises. Read more

DEMS PRESSURE FED: Several Democratic senators on Friday criticized the New York Federal Reserve Bank as too close to the mammoth financial institutions it regulates, taking particular aim at the hiring of Fed alumni at firms like Goldman Sachs—and vice versa. Read more

WHAT ABOUT THE SKILLED IMMIGRANTS?: Since Obama’s immigration announcement on Friday, the focus has been on whether it’s right to freeze deportations of illegal immigrants in general. But investors and entrepreneurs are concerned about whether highly skilled workers—engineers, coders, PhDs and others—will be overlooked in the process. Read more

NASDAQ RALLIES; DOW, S&P 500 CLOSE AT RECORD HIGHS: Read more

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Business Latest: Hagel stepping down