President Donald Trump downplayed a Bloomberg report that his administration was preparing to do a temporary deal with China, potentially rolling back some of the import tariffs recently imposed on Chinese goods.
It was Saturday night and he had just received a call from his work and pensions secretary, Amber Rudd, who told him that after only six weeks in his cabinet, she could no longer stand his reckless leadership and was resigning.
WASHINGTON (Reuters) – A New Jersey-based brokerage will pay $13 million to settle charges that it failed to supervise employee conduct during telephone trades and made false or misleading statements to a regulator, the U.S. Commodities Futures Trading Commission (CFTC) said on Friday.
Labor Day not only brought the unofficial end of summer, but also, to some extent, the end of recession talk. However, a new fear may be about to take hold for investors, one that may be even worse, the fear of missing out. Because, in the blink of an eye, stock markets around the globe are rising above their August doldrums and advancing higher.
While Fed officials such as Chairman Jerome Powell repeat the mantra that the economy is in “a good place,” the risks to the outlook stemming from slower global growth and trade wars remain sufficient to justify rate cuts. As Powell explained again last week, the Fed believes that its dovish pivot toward a lower path for policy rates help explains the economy’s resilience in the face of that uncertainty.
PARIS (Reuters) – France will cut its public sector deficit by slightly less than planned next year despite billions of euros in windfall savings from record low borrowing costs, Finance Ministry sources said on Friday.
(Reuters) – WeWork owner The We Company may seek a valuation in its upcoming initial public offering of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved in January, people familiar with the matter said on Friday.
(Bloomberg) — Senior euro-area officials joined European Central Bank President Mario Draghi’s call for actions to boost growth, amid a brewing debate over the need for more fiscal stimulus to revitalize the region’s flagging economy.
BALTIMORE (Reuters) – The Trump administration plans to unveil a tax cut plan in mid-2020, a top White House adviser said on Friday, saying it would be targeted to giving significant relief to the middle class.