Since President Trump took office, farmers can more productively use their land. Small businesses can hire more workers and provide more affordable health care. Innovators are freer to pursue advances in autonomous vehicles, drones and commercial space exploration. Veterans enjoy expanded access to doctors through a telehealth program. And infrastructure can be improved more quickly […]
Finance
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Are Republican Tax Cuts to Blame for Soaring Budget Deficits?…
It wasn’t said directly, of course, but the U.S. Treasury officially reported something Monday that, depending on your political party of choice, you’ve either long suspected would happen or refused to admit was possible: Last year’s big tax cut bill significantly increased the federal budget deficit. According to the Monthly Treasury Statement for fiscal 2018, […]
Job Openings Hit New Record High of 7.1 Million…
The monthly Job Openings and Labor Turnover Survey, or JOLTS, released by the Labor Department on Tuesday showed job openings rose to 7.136 million. Economists had forecast 6.9 million. The prior month was revised up to 7.077 million, the first time this number has ever exceeded 7 million. Until April of 2017, there had never […]
Treasury Sanctions Vast Financial Network Supporting Iranian Paramilitary Force That Recruits and Trains Child Soldiers…
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action today against a vast network of businesses providing financial support to the Basij Resistance Force (Basij), a paramilitary force subordinate to Iran’s Islamic Revolutionary Guard Corps (IRGC). Among other malign activities, the IRGC’s Basij militia recruits, trains, and deploys child soldiers […]
Here’s How a Major Western Bank Enabled a Suspected Russian Money Launderer…
A Western financial institution loaned millions of dollars to a Russian-owned real estate company in 2012, despite the fact that its owner had been fined after an Israeli money laundering investigation and suspicions that the company was a beneficiary of the largest tax fraud in Russian history. To combat financial crimes, banks are supposed to […]
Sears, the Original Everything Store, Files for Bankruptcy…
Sears, which more than a century ago pioneered the strategy of selling everything to everyone, filed for bankruptcy protection early on Monday and laid out a plan for turning its business around. The company long ago gave up its mantle as a retail innovator, falling far behind big-box rivals like Walmart and Home Depot and […]
Cannabis Set to Disrupt $500 Billion Market Amid DEA Approvals and Canadian Legalization…
The CEO of Canadian marijuana producer Canopy Growth says that marijuana is set to disrupt $500 billion in global markets. Bruce Linton – whose company recently shipped cannabis from Canada to the United States using a yet-undisclosed “DEA-approved partner,” told CNBC’s Jim Cramer that the “back-of-the-envelope math” pencils out – between therapeutic cannabinoid treatments to […]
Deficit Hits Six-Year High of $779B…
The federal government spent $779 billion more than it took in during the 2018 fiscal year, the highest deficit since 2012, according to Treasury Department data released Monday. The deficit rose 17 percent from the previous year, fueled by the 2017 GOP tax cuts and a bipartisan agreement to increase spending. Treasury projected that the […]
Stamp Prices Could See Biggest Hike in Postal Service History…
The U.S. Postal Service is seeking a record price hike on stamp prices as it faces continued pressure from President Donald Trump over a revenue shortfall. Under the proposal, the cost of a Forever stamp, or mailing a one-ounce letter, would jump from 50 cents to 55 cents. That’s the biggest increase in history, topping […]
Why Equities Are Suddenly Selling Off Now…
U.S. President Donald Trump can blame more than just the Fed for the recent market sell-off. It was the perfect storm that gave U.S. stocks their worst day in eight months, sending European shares to the lowest since December 2016 and driving more than 1,000 Chinese companies to fall by the daily limit. After holding […]
The Stock Market’s Nightmare May Be Far from Over…
After a nail-biting week with the Dow Jones Industrial Average sinking nearly 1,400 points over two sessions, the jury is still out on whether the selloff signals a fundamental shift in the stock market or a brief episodic correction. But one thing is certain: Investors should brace for more market drama in the coming days […]
Related
U.S. Stocks Close Lower As Dow Drops Nearly 1,400 Points in 2 Days…
U.S. stocks extended losses to finish lower Thursday, with the Dow Jones Industrial Average losing nearly 1,400 points over two days as investors continued to fret over rising bond yields and the prospect of higher interest rates. The Dow Jones Industrial Average DJIA, -2.13% tumbled 545.91 points, or 2.1%, to 25,052.83, bringing its two-day decline […]
Atlanta Fed Raises GDP View to 4.2 Percent on Strong Economic Data…
The U.S. economy is expanding at a 4.2 percent annualized rate in the third quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Wednesday, following the release of the latest data on producer prices and wholesale trade. That was a tad faster than the 4.1 percent pace calculated on Oct. 5 by the Atlanta […]
Newsweek’s Ex-Parent Company Charged with Defrauding Lenders…
Newsweek’s former parent company was charged Wednesday by Manhattan prosecutors with carrying out a complex scheme to defraud lenders out of millions of dollars as part of an effort to keep the struggling media organization afloat. The indictment follows a more than yearlong fraud probe by the Manhattan District Attorney’s Office that has also been […]
5 Questions Worried Americans Will Ask After Dow Slumps Over 800 Points…
The Dow Jones Industrial Average DJIA, -3.15% S&P 500 index SPX, -3.29% and Nasdaq Composite Index COMP, -4.08% have all been experiencing volatility in recent months, weighed by rising bond yields and a trade war with China. The Dow fell more than 800 points and the S&P 500 had its worst day since February. What […]
Trump Says Fed ‘Has Gone Crazy’ Following Stock Market Selloff…
President Donald Trump again criticized the Federal Reserve for raising interest rates, calling it a “mistake” hours after the worst U.S. stock market sell-off since February. “The Fed has gone crazy,” he told reporters on Wednesday as he arrived in Pennsylvania for a campaign rally. “So you can say that well that’s a lot of […]
U.S. Trade Deficit with China Hits Record…
The August trade deficit – a closed watched number in a time of trade wars – came in at $53.2BN, fractionally better than the $53.6BN expected, but 6.4% worse than last month’s revised print of $50.0BN ($46.8BN excluding petroleum), and just shy of a new all time high. The deficit deteriorated as a result of […]
Mercedes, Nissan to Ramp Up U.S. Investment After New NAFTA Deal…
Mercedes-Benz and Nissan plan to invest more in the U.S. after the Trump administration won a new trade agreement with Canada and Mexico that requires more of each vehicle to be built in North America, by higher-paid workers, the Financial Times reported. Under the terms of the deal to update the North American Free Trade […]
Leveling the Playing Field for American Workers by Wilbur Ross…
Manufacturing is booming again in America. Production lines are rolling, smelters are aglow, and Made in America products are spreading around the globe. On this Manufacturing Day, Americans around the country can celebrate the growing manufacturing revival due to the tireless efforts of President Donald J. Trump and those in his Administration. We are focused […]
FDA Conducts Surprise Inspection of E-Cigarette Maker Juul as Part of Crackdown…
The Food and Drug Administration (FDA) said Tuesday that it had conducted a surprise inspection of e-cigarette maker Juul’s headquarters and collected more than a thousand pages of documents amid its crackdown on e-cigarettes. “As part of FDA’s ongoing efforts to prevent youth use of tobacco products, particularly e-cigarettes, last week the agency conducted an […]
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