Trade war: Trump sets 25% tariff on steel, 10% on aluminum
2018-03-08 21:42:32 UTC
WASHINGTON/SANTIAGO (Reuters) - President Donald Trump pressed ahead with the imposition of 25 percent tariffs on steel imports and 10 percent for aluminum on Thursday but exempted Canada and Mexico, backtracking from earlier pledges of tariffs on all countries.
Describing the dumping of steel...
Valuable Public Company: Amazon appears to beat Apple
2018-03-08 20:45:23 UTC
SAN FRANCISCO (Reuters) - Apple Inc, the world’s most valuable publicly listed company, is in danger of being beaten by Amazon.com Inc to the $1 trillion mark.
Wall Street’s optimism about last year’s 10th anniversary iPhone had propelled Apple’s stock 24 percent higher over the past 12 months...
EU Schools Trump On Trade: You're Wrong! Trade Wars Are 'Easy to Lose'
2018-03-08 03:59:42 UTC
The EU has said US tariffs would be met with a "proportionate response." The European Council, IMF and WTO have warned Trump he is very wrong about trade wars being easy to win.
The European Commission on Wednesday presented its strategy for responding to US President Donald Trump's planned ta...
Top Trump Economic Adviser Resigns After Dispute Over Tariffs
2018-03-07 00:00:27 UTC
WASHINGTON (Reuters) - Top White House economic adviser Gary Cohn, a Wall Street banker who opposes hefty steel and aluminum tariffs planned by U.S. President Donald Trump, said on Tuesday that he was resigning.
“It has been an honor to serve my country and enact pro-growth economic policies t...
Trade War: Mexico Rejects U.S. Bid to Split NAFTA
2018-03-06 20:38:08 UTC
WASHINGTON/MEXICO CITY (Reuters) - Republican lawmakers stepped up calls for President Donald Trump to pull back from proposed tariffs on steel and aluminum imports as key trading partner Mexico rejected a bid by Washington to drive a wedge between it and Canada in talks to renegotiate the North ...
Trump's protectionist measures will hurt US economy
2018-03-04 00:47:34 UTC
WASHINGTON - Trump finally appears poised to make good on his promised threats to slam the door on free trade and erect walls around the country’s economy.
The U.S. President kept up pressure on trading partners, threatening European automakers with a tax on imports if the European Union reta...
Eurozone Posts Fastest Economic Growth in a Decade
2018-03-02 08:55:40 UTC
BENGALURU (Reuters) - While euro zone business growth was the fastest in well over a decade at the start of the year, it lost some steam last month as a stronger currency took its toll, a private-sector survey of purchasing managers showed.
Still, over 70 percent of respondents in the latest R...
The Economic Consequences of Trump's Trade War
2018-03-02 08:37:49 UTC
SEOUL/SYDNEY (Reuters) - The U.S. oil and gas industry slammed President Donald Trump's plan to impose tariffs on imported steel, saying the move would kill energy jobs by raising costs for big infrastructure projects.
Trump’s planned tariffs on steel and aluminum will distort global trade...
U.S. Supreme Court Rejects Trump Over 'DACA' Immigrants
2018-02-26 18:07:39 UTC
WASHINGTON (Reuters) - The U.S. Supreme Court on Monday dealt a setback to President Donald Trump, requiring his administration to maintain protections he has sought to end for hundreds of thousands of immigrants brought illegally into the United States as children.
The justices refused to hea...
NAFTA: Brazil exported 10 times more corn into Mexico, hurting US agriculture
2018-02-22 17:52:49 UTC
CHICAGO/MEXICO CITY (Reuters) - Mexican buyers imported ten times more corn from Brazil last year amid concern that NAFTA renegotiations could disrupt their U.S. supplies, according to government data and top grains merchants.
Mexico is on track to buy more Brazilian corn in 2018, which woul...
U.S. consumer prices rose more than expected in January
2018-02-14 18:37:38 UTC
WASHINGTON (Reuters) - U.S. consumer prices rose more than expected in January, with a measure of underlying inflation posting its biggest gain in a year, strengthening expectations the Federal Reserve will have to quicken the pace of interest rate increases this year.
The fairly strong inflat...
The Real Concerns About Markets As U.S. Inflation Looms
2018-02-14 18:54:27 UTC
New York — U.S. financial markets have been roiled recently by something neither the economy nor investors have had to contend with for the better part of a decade: concerns they may soon have to reckon with rising inflation.
The S&P 500 .SPX.INX is down more than 7 percent from its lifetime h...
German workers win right to 28-hour week and 4.3% pay rise
2018-02-12 10:19:03 UTC
Berlin — German workers have won the right to a 28-hour week in a victory towards their fight for a better work-life balance.
Industrial union IG Metall, Europe’s largest trade union, has won its workers the right to work the equivalent of under six hours each day in a deal that could eventual...
Audi, VW and Porsche Develop Joint Electric Car Platform
2018-02-10 21:32:51 UTC
FRANKFURT (Reuters) - Porsche and Audi, Volkswagen’s main luxury car divisions, plan to develop a joint platform for electric vehicles that will enable them significantly cut down on costs, German newspapers quoted their chief executives as saying.
“By 2025, we’re facing a low single-digit bil...
Welcome back to Bush era: The worst week for stocks since 2008 financial crisis
2018-02-09 19:13:49 UTC
The stock market is on pace for its worst week since the 2008 financial crisis.
Wall Street’s main indexes fell more than 500 points Friday afternoon, deepening losses in the past week that have put all three main U.S. markets in correction territory.
The technology-heavy Nasdaq index was t...
Paul: I can't look the other way by trillion-dollar deficits
2018-02-09 06:06:44 UTC
WASHINGTON (AP) — The U.S. government stumbled into a shutdown at midnight as a rogue Senate Republican blocked a speedy vote on a massive, bipartisan, budget-busting spending deal, protesting the return of trillion-dollar deficits on the watch of Republicans controlling Washington.
Dow Jones falls again, sending investors into a panicked frenzy
2018-02-08 17:53:50 UTC
(Reuters) - U.S. stocks turned lower in early trading on Thursday, with investors still on edge as volatility in financial markets persisted following the worst declines in more than two-and-a-half years earlier in the week.
Wall Street ran out of steam on Wednesday after an early surge as inv...
California will block transportation of oil from Trump offshore drilling plan
2018-02-08 07:11:56 UTC
SACRAMENTO, Calif. (Reuters) - California will block the transportation through its state of petroleum from new offshore oil rigs, officials told Reuters on Wednesday, a move meant to hobble the Trump administration’s effort to vastly expand drilling in U.S. federal waters.
California’s plan t...
5 Reasons the US Market Is Crashing
2018-02-06 04:38:54 UTC
Dow Jones industrials plummets with largest drop since 2011.
The US Dow Jones stock index plunged 4.6 percent Monday, in its biggest one-day percentage loss since 2011. The selloff has wiped off all its gains since the start of 2018. Asia shares have also been down sharply.
The Dow Jones In...
Dow Jones Worst Day Since 2011
2018-02-06 03:58:21 UTC
TOKYO (AP) — Shares tumbled in Asia on Tuesday after a wild day for U.S. markets that resulted in the biggest drop in the Dow Jones industrial average in six and a half years.
Japan’s Nikkei 225 index dropped as much as 5.6 percent in early trading Tuesday. By midday it was down 5.3 percent at...
Germany's Economy Growing Fast with Surplus
2018-02-01 22:18:01 UTC
BERLIN (Reuters) - The German government this week raised its 2018 growth forecast to 2.4 percent from 1.9 percent after bullish economic data, which could translate into added tax revenues.
That would give more leeway to increase state spending over the next four years beyond what is currentl...
British government forecast predicts UK will suffer in every Brexit scenario
2018-01-30 18:34:42 UTC
A confidential report prepared for the British government and leaked on Monday suggests all UK industries will be hurt by leaving the European Union, Buzzfeed News reported.
The findings are the latest embarrassment for British Prime Minister Theresa May's government, which has faced renewed c...
Tennessee City Stumped by Trump's 'America First' Tariffs on Washing Machines
2018-01-29 21:29:06 UTC
CLARKSVILLE, Tenn. (Reuters) - When President Donald Trump imposed steep tariffs on imported washing machines last week it was a “Not Again” moment for officials in this north Tennessee city that has lost jobs to an international trade dispute before.
The move threatens to stunt the launch of ...
California will catch up globally on electric vehicle sales
2018-01-27 08:07:24 UTC
(Reuters) - California said on Friday it would ramp up efforts to boost electric vehicles even as it holds talks with the Trump administration over the fate of fuel efficiency standards through 2025.
California Governor Jerry Brown signed an executive order “to curb carbon pollution from cars ...
Beijing tells the world to choose between China's global outlook and that of the U.S.
2018-01-27 07:52:02 UTC
DAVOS, Switzerland — China has given the world a blunt choice by asking global leaders to choose between Xi Jinping's global outlook and that of US President Donald Trump.
In a strongly worded editorial by the state's news agency, Beijing said the world needed to choose between "two fundamenta...