HILLSIDEQUADRANEWS.COM: World News - Latest of The Hour

World News - Latest of The Hour: Economy

2019-06-17 04:46

Trade war costs overpower tax-cut gains at Cummins. Consumers may be next At enginemaker Cummins Inc., the costs of President Trump's trade war have already topped savings from sweeping corporate tax cuts enacted by a Republican Congress at the end of 2017....
2019-06-16 09:16

Don't let oil prices drive Iran policy, Mr. President Iran's escalation of hostility in the Gulf of Oman is a dangerous situation. Targeting civilian oil and chemical tankers, Iran is threatening free passage of a critical global trade route....
2019-06-16 00:16

Poll finds little Republican support for spending cuts A majority of Republican voters oppose federal spending cuts to areas such as healthcare, the environment, and social welfare programs, according to a new poll....
2019-06-15 18:16

Volkswagen Factory Workers in Tennessee Reject Union The vote was a defeat for the United Automobile Workers, which has tried unsuccessfully to organize workers at plants owned by foreign automakers in the South....
2019-06-15 04:16

Trump's 'secret' agreement with Mexico revealed President Trump teased the media this week when he dangled a one-page document he said contained a "secret" deal with Mexico in front of journalists. Now that document has been released in full....
2019-06-15 03:00

US business inventories rebound; sales fall U.S. business inventories rebounded in April as sales fell, but inventory accumulation is still expected to be a drag on economic growth in the second quarter....
2019-06-14 19:32

He who Laffs last When President Trump announced he was awarding the Presidential Medal of Freedom to economist Arthur Laffer, there were groans of dismay in Washington, especially in the world of professional, academic, and government economists....
2019-06-14 14:16

Why South America's prospects are looking up My career as a financial tipster lasted only a few seconds, but, if I say so myself, it went rather well. In the hours that followed Donald Trump’s election in 2015, U.S. stocks fell and the dollar weakened. “Buy the dip," I told my Twitter followers...
2019-06-14 14:16

With US-China talks stalled, critics fear tariffs will stay for the long term Lawmakers and the business community are growing increasingly concerned that President Trump's tariffs on Chinese goods will be around for the long term....
2019-06-14 14:16

Hispanics stick with Trump despite tough border stance President Trump is poised to launch his 2020 reelection as popular with Hispanic voters as other Republicans, bucking predictions that provocative nationalist rhetoric and hard-line border policies would crater his support with this critical bloc....
2019-06-14 14:16

Jobs and education help women advance, not abortion Kathryn Kaufman, the managing director for Global Women's Issues at the Overseas Private Investment Corporation, recently wrote that as a Republican and a Christian woman, she supports abortion because it’s required for economic development....
2019-06-14 03:48

US weekly jobless claims unexpectedly rise, sparking fears the labor market is losing steam First-time claims for state unemployment benefits were expected to total 216,000, down slightly from the 218,000 claims reported for the previous week....
2019-06-13 16:32

US import prices post the largest drop in 5 months U.S. import prices fell by the most in five months in May amid a broad decline in the cost of goods, the latest indication of muted inflation that strengthens the case for the Federal Reserve to cut interest rates this year....
2019-06-13 16:32

Trump accuses China of backing away from trade deal President Trump claimed Wednesday that the U.S. had a trade deal with China mostly complete in late April before Beijing tried to walk back concessions it made during the talks. Beijing has denied that it ever made the concessions and reportedly view...
2019-06-13 01:48

Georgia PM: We've fought together — now let's do business I have a quiz for my friends in the United States: Which country has sent troops to serve alongside American forces in Afghanistan, Iraq, and Kosovo?...
2019-06-13 01:48

Party of the rich? Millionaires prefer Joe Biden over Trump It must be true that the Democrats are the party of the downtrodden rather than the millionaires, for they tell us so repeatedly. What's odd, though, is that the votes of the millionaires trend toward Democrats. That's if we're going to believe the C...
2019-06-13 01:48

Martin Feldstein, a Chief Economist Under Reagan, Dies at 79 He took a leave from Harvard to be chairman of the Council of Economic Advisers and, as a deficit hawk, never shied from challenging his White House colleagues....
2019-06-12 23:16

Trump Isn’t Alone. These Millennials on the Left Want Low Interest Rates, Too. Sam Bell and his colleagues at Employ America want the central bank to cut interest rates now, and to lift them less quickly after the next recession, to create more jobs....
2019-06-12 23:16

Young New Yorkers bring robots, and a glimpse of the future, to UN Headquarters Tiny balls moved along a series of automated Lego robots, as young students from New York explained to United Nations staff the inner-workings of simple motors and engineering. ...
2019-06-12 23:16

Mick Mulvaney guzzles the deficit Kool-Aid As a member of the House of Representatives, Mick Mulvaney was a stalwart voice for deficit reduction and spending reform. He recognized that entitlement reform was the keystone to preserving American prosperity for future generations....
2019-06-12 17:16

Mitch McConnell: 'The president deserves applause' on agreement with Mexico Senate Majority Leader Mitch McConnell congratulated President Trump after Trump’s gambit to force Mexico to adopt stiffer immigration policies paid off....
2019-06-12 03:16

College students need new financial habits to avoid piling up credit card debt The broke college kid isn’t just a stereotype: A new survey shows that 36% of college students have more than $1,000 in credit card debt. EVERFI, an education tech company, surveyed over 30,000 college students from more than 440 institutions in 45 s...
2019-06-12 03:16

Rep. Crenshaw sends X-ray of missing eye to journalist who questioned his patriotism Texas Rep. Dan Crenshaw fired back at a New York Times contributing opinion writer for questioning his patriotism and claiming he was not signed on to support the 9/11 Victims Compensation Fund....
2019-06-12 01:16

Senate will try to advance Trump's border funding request next week The Senate next week will try to advance President Trump’s emergency spending request to deal with the massive surge in illegal immigration on the Texas border....
2019-06-11 22:48

Biden reverses course: 'We need to get tough with China' Former Vice President Joe Biden on Tuesday plans on reversing his earlier stance on China, acknowledging during remarks in Iowa he is "worried" about the communist nation's economic and military rise....
2019-06-11 17:48

Border troops, nuclear strategy and Space Force among flashpoints in House defense proposal The House Committee on Armed Service's proposal for next year's defense budget covers sharp policy disagreements between the panel's majority Democrats and its minority Republican members, setting off a series of likely political skirmishes....
2019-06-11 17:48

Trump says 'devalued' currencies put US at a disadvantage and the Fed doesn't have a 'clue' President Donald Trump said Tuesday the U.S. is at a disadvantage compared to other major currencies like the euro as other central banks keep interest rates low while the Federal Reserve's rates are higher by comparison....
2019-06-11 16:48

Brexit leader Nigel Farage poised to open his own trade talks with Trump LONDON — Nigel Farage, the leader of Britain’s Brexit Party, is planning to start his own trade talks with the White House amid frustration that the British government has let the process stall....
2019-06-11 08:00

Canada-style refugee deal still on the table in Trump talks with Mexico The Trump administration's deal with Mexico on Friday to avoid tariffs could lead to Mexico adopting the same agreement Canada has with the U.S. regarding refugees: Whatever country gets the refugees first keeps them....
2019-06-11 08:00

House cancels vote on pay raises for lawmakers House Democrats withdrew a bill scheduled for a vote this week that would have provided a cost of living pay increase to lawmakers and congressional staff....
2019-06-11 07:16

Monday’s Daily Brief: the future of food and digital tech, labour justice in focus, denuclearization, and Kosovo This Monday, top stories includes: a new report on risks and opportunities of digital technology; social justice for all at the centenary UN labour conference; updates on Iran’s and North Korea’s nuclear programmes; tackling today’s problems with foo...
2019-06-10 22:48

Trump slams the Chamber of Commerce over tariffs disagreement President Trump said Monday that the U.S. Chamber of Commerce was critical of his tariffs and immigration policies because it doesn't represent the interests of the country....
2019-06-10 20:16

In an era of big corporate deals, CNBC's Top States for Business reveals who has an edge CNBC will release its America's Top States for Business 2019 survey in July. This year's competitive landscape is especially tricky, thanks to issues like a trade war, labor shortages and aging infrastructure....
2019-06-10 18:48

US business groups relieved Mexican tariffs averted The nation's leading business groups expressed relief Saturday over the White House's announcement it had reached a deal with Mexico and would be dropping plans to place tariffs on its goods....
2019-06-09 00:32

Trump cheers Dow's best week of the year The Dow Jones Industrial Average climbed more than 250 points Friday, ending the index's best week of the year, as lackluster economic news prompted speculation that the Federal Reserve would lower interest rates....
2019-06-08 07:32

Trump likely to win his interest-rate cut after dour jobs data If there's an upside for the White House in May's lackluster employment growth, it's this: the Federal Reserve is far more likely to grant the interest-rate cut President Trump has been advocating for months....
2019-06-07 21:32

Trump says 'good chance' of deal with Mexico President Trump kept hopes alive Friday that U.S. would reach a deal with Mexico to end his threat to levy new tariffs on all of its goods starting Monday. The president made the announcement as negotiators from both sides entered their third day of ...
2019-06-07 21:32

Pelosi: Jobs report shows Trump 'hollowing out our economy' House Speaker Nancy Pelosi said the May Department of Labor report showing only 75,000 jobs were created “is a disturbing sign that the Administration’s disastrous special interest agenda is hollowing out our economy, fueling instability and jeopardi...
2019-06-07 19:48

White House delays tariff hike on numerous Chinese products The U.S. Trade Representative's Office announced on Friday that it was officially delaying for a week tariff hikes on numerous products imported from China. The announcement said the tariffs, which had initially been set to rise to 25% on June 1, wou...
2019-06-07 19:48

White House economist: Jobs report shows risks to economy, but still reasons for optimism Top Trump economic adviser Kevin Hassett said that Friday’s jobs report indicates higher risks to the economy but that he remains hopeful job growth will pick up in June and the U.S. will avoid a recession....
2019-06-07 19:48

Record low unemployment for workers without bachelor’s degrees in May Unemployment for workers without bachelor’s degrees fell to the lowest rate on record in May, according to Bureau of Labor Statistics data released Friday....
2019-06-07 16:01

Georgia stands to lose $9.2 billion in Hollywood business Initially, Georgia Gov. Brian Kemp dismissed the Hollywood actors criticizing the so-called heartbeat abortion bill he signed in early May as "C-list celebrities."...
2019-06-07 10:00

Trade negotiators cope with Trump’s surprise comments President Trump’s surprise threat to impose new tariffs on Mexico over immigration underscored that he has been a disruptive force not just to U.S. trade policy but to his own trade negotiating team....
2019-06-07 10:00

Warren recognizes 2020 campaign staff union Elizabeth Warren acknowledged Thursday that her presidential campaign staff had unionized, meaning that she will not contest the International Brotherhood of Electrical Workers Local 2320 claim, announced two days ago, to become the workers' exclusiv...
2019-06-06 22:00

Bernie Sanders’ socialist policies would crush the Walmart workers he says he’s fighting for Sen. Bernie Sanders, I-Vt, isn’t one to mince words when it comes to corporate greed. On Wednesday, the presidential candidate attended a Walmart shareholders meeting and blasted the company’s leadership for supposedly paying “starvation wages,” as w...
2019-06-06 22:00

Mexican president optimistic for deal with White House to avoid tariffs Mexican President Andrés Manuel López Obrador said Thursday he remained optimistic that a deal with the Trump administration could be reached to avoid new tariffs on Mexican goods, which are set to go into effect Monday. U.S. and Mexican officials ar...
2019-06-06 20:16

Democrat to force vote on Mexico tariffs if Trump follows through on threat House Ways and Means Committee Chairman Richard Neal said Thursday that he will introduce legislation to block President Trump from imposing new tariffs on Mexico....
2019-06-06 20:16

Why Louisiana is missing out on the Trump boom It’s morning in America again. After years of economic stagnation under former President Barack Obama, America is booming. Thanks to President Trump’s leadership, the American economy is growing above 3% annually, wages are rising across the board, a...
2019-06-06 18:48

Trump says 'at least' $300B in new China tariffs possible President Trump said Thursday that while trade negotiations remain ongoing with China, his administration was preparing "at least" $300 billion in new tariffs on their goods if the talks fall apart....
2019-06-06 18:48

Trump says he'll decide on China tariffs after G-20 summit President Trump said Thursday that he would make a decision on whether to impose 25% tariffs on $300 billion of Chinese goods after the G-20 summit in Japan at the end of the month. Trump is scheduled to have a face-to-face meeting with Chinese Presi...
2019-06-06 18:48

Walmart and the Bernie Sanders school of Chernobyl economics Sen. Bernie Sanders, I-Vt., reminded us on Wednesday that he has about as much economic sense as President Trump has Twitter decorum. The socialist senator attacked Walmart as a company that "pays many of its employees starvation wages..."...
2019-06-06 04:00

Walmart against monopolies: The retail giant is filing a price-fixing lawsuit against a shady Brazilian meatpacker In late May, Walmart filed an antitrust lawsuit against over a dozen poultry producers, including Pilgrim's Pride, a subsidiary of the Brazilian-owned meatpacking conglomerate, JBS USA. The company is currently receiving over $64 million as part of t...
2019-06-06 04:00

Which States Will Be Hit Hardest by Trump’s Tariffs on Mexico Tariffs on Mexican imports will ripple across the United States and could cause significant pain for consumers and businesses, even those far from the southwestern border....
2019-06-06 01:01

Putin Aims to Revive the Economy With a Plan. And Pianos. As Russian officials unveil a spending plan aimed at doubling growth in its troubled economy, critics see a $400 billion effort in Soviet-era planning....
2019-06-05 23:32

Longtime US Chamber of Commerce CEO Tom Donohue to step down in 2022 Longtime U.S. Chamber of Commerce head Tom Donohue will step down as CEO in June 2022, the business group said Wednesday, and relinquish his title as president immediately....
2019-06-05 22:48

Mexico readies list of US products for retaliation if Trump follows through with tariffs threat Mexican President Andrés Manuel López Obrador has received a list of U.S. products that his country would slap with tariffs if President Trump follows through with his threat to impose tariffs on Mexican goods starting Monday....
2019-06-05 22:01

Border state governor criticized from all angles for supporting Trump's tariff plan Arizona Gov. Doug Ducey, a Republican, has made several enemies in backing President Trump’s new tariffs on Mexico. Ducey says border states such as Arizona need to prioritize border security over commerce, but his opponents make the opposite argumen...
2019-06-05 22:01

Trump administration discontinues English classes, recreational programs for unaccompanied minors in shelters The Trump administration is ending English classes, recreational activities, and legal aid for unaccompanied minors in federal migrant shelters because of a lack of funding, amid an increase in border crossings....
2019-06-05 21:48

Elizabeth Warren is wrong: This race really is about the size and scope of government Presidential hopeful Sen. Elizabeth Warren, D-Mass., wants you all to know that she is very much a capitalist and a patriot. So much so she wants to weaponize the federal bureaucracy against American businesses, expand the power of the Export-Import ...
2019-06-05 21:32

Trump says 'every signal' is China wants a trade deal President Trump said Wednesday China wants to reach a trade deal with the United States. He also predicted that a deal with Mexico to avoid creating new tariffs on its products was also likely and could happen soon....
2019-06-05 21:32

Revisiting the old New Deal When Alexandria Ocasio-Cortez and her allies proposed a new stimulus package to take on climate change and income inequality, they called it the Green New Deal. Their reasoning for the economic program’s name is obvious. It pays homage to the New Dea...
2019-06-05 21:32

The Tariff Man's Mexican mischief In an ironic turn of events, the day after President Trump shocked the world with his plan to impose border taxes on all imports from Mexico beginning June 10, the Federal Reserve Bank of Philadelphia released its latest 50-state “leading indicators”...
2019-06-05 21:32

Trump's trade war could cost him Texas and the presidency As Senate Republicans wait on tenterhooks for Vice President Mike Pence to talk trade with Mexico's foreign minister, a new Quinnipiac poll should have the entire party shaking in its boots right now....
2019-06-05 21:32

The economy is slowing, but not as bad as Wednesday's private payrolls report suggests Economists say while the soft ADP number is an anomaly, they do think the job market is weakening and will worsen if Trump moves forward with tariffs....
2019-06-05 21:00

Mexican president expects immigration tariff deal with US soon Mexican President Andrés Manuel López Obrador said Tuesday he believes a deal is close that would end the Trump administration's threat to impose tariffs on Mexico in response to illegal immigration....
2019-06-05 10:32

Warren proposes creating 'Department of Economic Development' modeled after China's policies Sen. Elizabeth Warren, D-Mass., a top contender for the Democratic presidential nomination, proposed Tuesday replacing the Commerce Department with an "Department of Economic Development" that would copy China's economic development policies. The res...
2019-06-05 10:32

Republican senator predicts Congress will try to vote down Trump tariffs on Mexico Sen. Rob Portman, R-Ohio, said Tuesday he believes Congress would engage in a bipartisan vote to disapprove of President Trump's new tariffs on Mexico, should they go into effect next week....
2019-06-05 10:32

Trump expects Mexico tariffs to go into effect next week President Trump said Tuesday that his administration would likely go ahead and impose new tariffs on Mexico on Monday despite talks this week between the White House and Mexican officials to resolve the situation....
2019-06-05 10:32

Yes, a nationwide $15 minimum wage would be quite damaging Praise be, we now have the economic research to prove that higher minimum wages have no ill effects, so let's push onward to $15 an hour for all, right? I predict that's what will be said about new research, even though that's not what the research a...
2019-06-05 10:32

Republicans join Democrats to kill Rand Paul's fiscally responsible Pennies Plan because no one cares about the debt crisis That was a nice decade of Republicans pretending to care about our $22 trillion national debt and annual multitrillion-dollar deficit. But as of Monday, we can safely say the Tea Party is over....
2019-06-05 00:16

Fed's Evans: The market is seeing something 'that I haven't seen yet' At a time when markets are anticipating at least two interest rate cuts before the end of 2019, Evans did not commit to any further loosening of policy....
2019-06-04 14:48

On fourth try, House passes $19.1B disaster aid package House lawmakers cleared a critical disaster aid package Monday, overruling a group of conservatives who had blocked unanimous consent of the measure after three attempts at passing it last week....
2019-06-04 01:48

FROM THE FIELD: Watering the parched farmland of São Tomé and Príncipe Farmers on the island of São Tomé and Príncipe, off the western coast Africa, are being supported by the UN Development Programme (UNDP) to become more resilient in the face of climate fluctuations which have left the land parched and farmers without...
2019-06-03 23:16

Chipotle to consider raising prices in response to Trump tariffs Chipotle Mexican Grill is considering increasing prices after 2019 costs are predicted to rise by about $15 million because of tariffs proposed last week by President Trump....
2019-06-03 23:00

Mexico rejects idea to keep Central American asylum seekers Mexican Foreign Minister Marcelo Ebrard said Monday that his country would reject a proposed solution to the immigration and tariff stand-off with the U.S. that would involve it keeping Central American asylum seekers....
2019-06-03 23:00

Rich states, poor states: How a federal minimum wage hike would widen the gap With growing enthusiasm for lifting the federal minimum wage in Congress, it’s time to consider some data on wages and differences in the cost of living across the 50 states. The Raise the Wage Act, introduced by Rep. Bobby Scott, D-Va., in January w...
2019-06-03 19:16

Trump can help the UK out of the Brexit madness The slow motion resignation of long-since powerless British Prime Minister Theresa May, who is embarrassingly clinging to office until after President Trump’s state visit, is "interesting" in both senses of the Chinese sage. May’s unlamented departur...
2019-06-03 07:00

Mulvaney: Mexico tariffs a response to 'extraordinary circumstances' at the border Acting White House chief of staff Mick Mulvaney said that the president’s move to impose tariffs on Mexico stemmed from “extraordinary circumstances” at the border, where Central Americans who have traversed Mexico are flooding into the United States...
2019-06-02 18:48

Trump dismisses attempt by ‘abuser’ Mexico to negotiate tariffs President Trump Sunday derided Mexico's effort to negotiate away his threat to impose 5% tariffs, calling the nation an "abuser" of the United States and declaring, "America has had enough."...
2019-06-02 16:32

NIMBY California Democrats California's increasingly left-wing residents want open borders, and they want their state to give handouts to immigrants, legal and illegal. But they don’t want any building to house this low-income riffraff anywhere near their expensive homes....
2019-06-02 08:16

Harris breaks with Schumer to take aim at 'Trump's trade tax' SAN FRANCISCO — California Sen. Kamala Harris attacked President Trump's tariffs against China as a "trade tax" against average Americans during her remarks at the California Democratic Party convention....
2019-06-02 00:48

Business groups warn Trump's new tariffs on Mexico jeopardize USMCA The nation's leading business trade associations warned that President's Trump's decision to slap tariffs on Mexico to force it to halt mass immigration into the United States could backfire and undermine a key policy goal of the administration: pass...
2019-06-01 11:48

GOP lawmakers say Trump's Mexican tariffs endanger USMCA Republican lawmakers warn that President Trump has imperiled the ratification chances of his U.S.-Mexico-Canada Agreement on trade by announcing a 5% tariff on all Mexican goods. Trump said the tariff was needed to force Mexico to crack down on immig...
2019-06-01 11:48

Chamber of Commerce could challenge Trump's Mexico tariffs in court The Chamber of Commerce may give President Trump a legal fight over his plan to slap 5% tariffs on all Mexican goods, eventually rising to 25%, if the country doesn't crack down on immigration to the U.S....
2019-06-01 11:48

US-Mexico talks to resolve tariff stand-off start next week Mexican Foreign Minister Marcelo Ebrard said talks are already being planned between his country and the U.S. to resolve President Trump's threat to place 5% tariffs, eventually rising to 25%, on all Mexican goods if it doesn't crack down on mass imm...
2019-06-01 11:48

Conservative immigration analysts: Trump tariffs could worsen border crisis Conservative immigration experts warned Friday that President Trump's threat to impose a tariff on Mexican imports would have "devastating" consequences if Mexico retaliates by shutting down its immigration and drug enforcement operations, worsening ...
2019-06-01 11:48

Trump's trade director has his thinking on imports all wrong Writing about free and fair trade recently in the Wall Street Journal, President Trump’s director of trade and manufacturing policy Peter Navarro took issue with some World Trade Organization rules. He especially dislikes those requiring member natio...
2019-05-31 18:48

Trump could threaten Mexico with tariffs over immigration President Trump is reportedly planning to threaten Mexico with new sanctions in order to encourage the country to crack down on illegal border crossings of migrants coming from Central America....
2019-05-31 10:00

Conservatives can't win cultural wars without capitalist ones The current mini-fracas fracturing the Right has little to do with President Trump or even tone, as Sohrab Ahmari insists, but rather which trade-offs each coalition of the Right has made. No one can doubt that David French, a devout Evangelical Chri...
2019-05-31 10:00

Top union hit with 'unfair practices' claim by union for its office workers The union representing office workers for the Service Employees International Union filed an unfair practices complaint against the larger union Thursday with the National Labor Relations Board....
2019-05-31 10:00

Report shows tax incentives hurt states' fiscal health Under criticism from newly elected Rep. Alexandria Ocasio-Cortez, D-N.Y., and other progressive politicians, e-commerce giant Amazon pulled out of its planned second headquarters in New York. But was Amazon a needed company that would provide benefit...
2019-05-31 07:01

Third House conservative blocks $19B disaster aid measure For the third time in a week, House conservatives blocked a $19.1 billion disaster aid package, chastising lawmakers for attempting to pass a major spending bill with a quick voice vote and without debate....
2019-05-31 04:16

Disney and Netflix should quit Georgia and quit seeking subsidies It’s a story you’ve seen before. Red states pass laws the Left find objectionable, and within days, the entertainment sector threatens to leave that state until conservatives see things their way. This time, Disney CEO Bob Iger has suggested that Dis...
2019-05-31 00:00

Monthly US trade deficit rises slightly to $72.1 billion The U.S. Census Bureau reported Thursday that the international trade deficit in goods rose to $72.1 billion in April, up a marginal 0.3% from March's level of $71.9 billion according to an "advance look" at the data. The shift was due to exports dro...
2019-05-30 19:48

US weekly jobless claims increase slightly First-time claims for state unemployment benefits were expected to total 215,000 in the most recent week, following the 211,000 claims reported for the prior week....
2019-05-30 18:48

April pending home sales fall unexpectedly Home shoppers signed 1.5% fewer contracts to buy existing homes in April compared with March, according to the National Association of Realtors' Pending Home Sales Index. Sales were 2% lower compared with April 2018....
2019-05-30 18:48

The Bond Market Is Trying to Tell Us Something (Worry) Bond yields, the yield curve, inflation expectations, Fed-rate predictions. The bond market might seem indecipherable but it’s full of important clues about the economy....
2019-05-30 17:32

Jobs are at stake — pass the USMCA At the end of 2018, the Trump administration finalized the renegotiated North American Free Trade Agreement, resulting in a new trade deal now called the United States-Mexico-Canada Agreement. This milestone is good news and a big win for the United ...
2019-05-30 14:00

US moves to impose tariffs on Chinese kegs, mattresses The Commerce Department announced Wednesday that it would impose duties from 39% to as high as 1,732% on imports of Chinese mattresses. In a separate announcement, the agency said it had made a preliminary determination that China, Mexico, and German...
2019-05-30 05:48

Canada begins process to ratify USMCA trade deal Canadian Prime Minister Justin Trudeau formally introduced legislation to his country's parliament Wednesday to ratify the U.S.-Mexico-Canada Agreement on trade....
2019-05-30 00:32

‘Ground-breaking innovation’ needed in cities, where battle for sustainable development will be won or lost, says UN agency chief If the battle to achieve the Sustainable Development Goals (SDGs) is to be won or lost in cities, then they need to “achieve a lasting impact on communities and to ensure that no one is left behind,” the head of the UN agency dealing with sustainable...
2019-05-30 00:16

USMCA's fate up to Pelosi, White House official says The fate of President Trump's U.S.-Mexico-Canada Agreement on trade is entirely based on whether House Speaker Nancy Pelosi, D-Calif., agrees to schedule a vote on it, a White House official said Wednesday....
2019-05-29 22:00

CBO director says economic growth will fall below 2% Outgoing Congressional Budget Office Director Keith Hall said Wednesday that he expected economic growth to dip in coming years, and that President Trump’s trade war with China is slowing economic growth....
2019-05-29 21:32

The market now thinks the Fed will cut rates twice by January 2020 Futures trading indicated a 63% chance of a September cut and a 62% probability of another easing by January, according to the CME's FedWatch tool....
2019-05-29 18:32

Asia-Pacific ‘regional parliament’ underway to advance equality, empowerment, for more than four billion citizens The top United Nations body in the Asia-Pacific region opened its annual session this week, calling for greater empowerment of disadvantaged and marginalized groups if the region is to achieve the ambitious 2030 Agenda for Sustainable Development, an...
2019-05-29 17:48

Illinois plans to self-destruct Here's a basic principle for 21st-century governance: to attract investment and high-skilled workers, a government must make it attractive to do business in their locale....
2019-05-29 17:48

Chamber lobby sees Congress moving on USMCA without fulfilling Democratic demand for renegotiation The U.S. Chamber of Commerce sees congressional Democrats backing off their demand that President Trump's U.S.-Mexico-Canada Agreement on trade must be renegotiated between the three countries....
2019-05-29 17:48

China hints at cutting off US from rare earth minerals The Chinese government threatened Wednesday to limit exports of rare earths — chemical components used in various types of high-tech equipment — as part of its trade war with the Trump administration....
2019-05-29 17:48

Bernie Sanders and AOC basically want to ban credit cards Rep. Alexandria Ocsaio-Cortez, D-N.Y., and 2020 candidate Sen. Bernie Sanders, I-Vt., have apparently decided to try to ban credit cards. Sure, that's not quite what Ocasio-Cortez and Sanders actually say (they just want to stop the swindlers profiti...
2019-05-29 05:16

Trump's China tariffs drag business profitability to pre-tax cut levels The likelihood of corporate profit margins tumbling from a 2018 record to pre-tax cut levels or lower increased after President Trump brushed off the possibility of a quick trade agreement with China to end pricey tariffs on the country's imports....
2019-05-29 05:16

College costs rising faster than inflation College costs are about to get even higher. The Higher Education Price Index is forecasting inflation for U.S. colleges and universities to increase by 2.6% for this fiscal year. The forecast takes into consideration the average relative price of goo...
2019-05-28 16:32

Google’s Shadow Work Force: Temps Who Outnumber Full-Time Employees The tech company has long used contractors, but some employees worry that a growing reliance on them represents a shifting, less admirable work culture....
2019-05-28 11:32

Hollywood's boycott of Georgia over heartbeat bill could squeeze state's economy A boycott of Georgia spearheaded by actors and producers in the wake of the state’s new abortion restriction threatens to upend its position as the Hollywood of the South....
2019-05-25 06:32

Energy of African youth ‘propelling’ new development era as UN ties bear fruit The “boundless energy and optimism” of young Africans is propelling the continent into a new era of sustainable development, alongside new partnerships between the UN and African Union....
2019-05-25 05:48

Trump ratchets up farm assistance as trade war broadens The $16 billion in aid to farmers that the Trump administration announced Friday is an increase on the $12 billion aid package last year. Administration officials said the total amount of aid was hiked and the formula for distributing it tweaked beca...
2019-05-24 14:16

US weekly jobless claims unexpectedly fall First-time claims for state unemployment benefits were expected to total 215,000 for the most recent week, up slightly from the 212,000 claims reported for the previous week....
2019-05-24 00:00

USDA chief Sonny Perdue promises $16B for farmers to offset China trade war losses Agriculture Secretary Sonny Perdue said Thursday that the administration will offer $16 billion in aid to farmers to offset the losses caused by the trade war with China. President Trump is scheduled to formally unveil the program later this afternoo...
2019-05-23 23:16

Americans aren't having enough kids, and it shows Americans aren’t having babies like they used to. In fact, the U.S. birthrate fell to a 32-year low last year, according to a new report from the Centers for Disease Control and Prevention....
2019-05-23 23:16

House passes fix for Gold Star family tax hikes The House of Representatives on Thursday passed a fix to a glitch in the 2017 GOP tax overhaul that generated big tax hikes on federal survivor benefits for certain Gold Star families....
2019-05-23 23:16

Trump-China trade war assistance package includes $14.5B in 'direct payments' to farmers The Trump administration said Thursday that it would provide $14.5 billion in "direct payments" to farmers as part of an aid package to offset the damage caused by the trade war with China. Another $1.4 billion would be allocated to purchase surplus ...
2019-05-23 23:16

Trump says he may send USMCA deal to Congress soon, triggering deadline President Trump said Thursday that he may send his U.S.-Mexico-Canada Agreement on trade to Congress soon, imposing a 60-day deadline for lawmakers to vote on the deal....
2019-05-23 23:16

Infrastructure week appears to be dead. Good I have little interest in posturing Democratic investigations into the Trump administration, or in President Trump's often intemperate reaction to them. But I am very glad that the infrastructure bill appears, at least temporarily, to have been kille...
2019-05-23 10:16

Sen. John Thune: The Senate is working for America During his 1980 debate with then-President Jimmy Carter, Ronald Reagan famously asked Americans whether they were better off than they’d been four years earlier. That question has been a measuring stick for elected officials ever since. Republicans i...
2019-05-23 08:16

Republicans fret Trump tariffs could backfire in 2020 even as they applaud stand against China SAVANNAH, Ga. — Republicans fret the confrontation with China could spiral out of control and derail the booming economy they are counting on to hold the White House in 2020, even though most have confidence he can secure a good deal from the country...
2019-05-23 08:16

Majority of Americans approve of Trump's handling of economy, credit his policies: Poll A majority of Americans approve of how President Trump has handled the economy, feel confident about their personal finances, and believe Trump's policies have had an impact on the country's economic performance, according to the latest poll by CBS N...
2019-05-23 00:32

House set to send Trump a fix for Gold Star family tax hikes The House is set to pass legislation on Thursday that would fix a quirk in the 2017 GOP tax overhaul that has generated big tax hikes on federal survivor benefits for certain Gold Star families. The bill would then go to President Trump's desk....
2019-05-23 00:32

'What happened to all the file clerks?' Automation makes humans more useful, not less A nice piece on the BBC website today illustrates the fallacy behind this idea that robots will make humans useless. The piece describes the creation of VisiCalc, the first electronic spreadsheet program....
2019-05-23 00:00

Democrats dig in against USMCA vote Key Democrats said Wednesday that they still opposed moving forward on President Trump's U.S.-Mexico-Canada Agreement on trade until some further changes are made. They said that despite the White House, Canada, and Mexico addressing several Democrat...
2019-05-22 20:16

Sooner or later, Americans will get fed up with the Jones Act The maritime industry may not like being compared to the Sicilian Mafia, but there is an element of truth to this analogy when considering the quick about-face President Trump made recently on the 99-year-old protectionist law known as the Jones Act....
2019-05-22 20:16

Grassley says China stalling on trade in hopes Democrat replaces Trump Senate Finance Committee Chairman Chuck Grassley, R-Iowa, said Wednesday that he now believes that China is intentionally stalling in trade talks with the U.S. in the hopes that a Democrat is elected in 2020 to replace President Trump....
2019-05-22 20:16

Texas, don't even think about importing California's rail disaster Last week, the Trump administration fulfilled yet another promise when it canceled nearly $1 billion in taxpayer funding for California’s high-speed rail project between Los Angeles and San Francisco. In the midst of yet another infamous Infrastructu...
2019-05-22 09:32

Amidst high trade tensions and policy uncertainty, UN cuts economic growth forecast Against a backdrop of unresolved trade tensions, high international policy uncertainty and softening business confidence, the UN on Tuesday announced a broad-based slowdown in the global economy and cut its growth predictions. ...
2019-05-22 02:16

Former Bush economist Phillip Swagel to lead Congressional Budget Office Former Treasury official Phillip Swagel will serve as the new director of the Congressional Budget Office, the nonpartisan office that provides budgetary and economic expertise to Congress....
2019-05-22 01:16

'Like taking candy from a baby': Pentagon accuses defense contractor of 'gouging our taxpayers' Congress took aim at a key defense contractor Wednesday for what the Pentagon's acquisition chief called "gouging our taxpayers" using "a disgraceful business model" designed to exploit the law....
2019-05-22 01:16

Wall fight looms again as lawmakers prep for budget talks The House, Senate, and White House are poised to begin talks next week on a budget deal and raising the debt ceiling, but an accord on 2020 spending could be hobbled once again by a fight over border wall funding....
2019-05-22 01:16

For infrastructure funding, follow the money on the Coca-Cola highway It has not been voted on or formally proposed yet, but a bipartisan effort to increase federal spending on infrastructure could be coming in the near future....
2019-05-22 01:16

Get mad at Justin Amash all you want, but he’s still the biggest fiscal conservative Most Republicans are mad at Rep. Justin Amash, R-Mich., right now for saying that President Trump’s behavior during special counsel Robert Mueller's investigation rose to the level of an impeachable offense....
2019-05-22 01:16

McConnell: Bipartisan deal to raise debt ceiling and spending caps as soon as today Senate Majority Leader Mitch McConnell on Tuesday announced congressional leaders are close to a two-year deal to lift spending caps and raise the debt ceiling....
2019-05-22 01:16

EPA pursues new cost-benefit analysis for regulation that critics fear will undermine climate rules The Environmental Protection Agency is pursuing new rules for regulatory cost-benefit analysis that critics fear could undermine the agency's regulation of climate pollution by saying it costs too much....
2019-05-22 01:16

An Economist Who Believes Only Government Can Save Capitalism In “People, Power, and Profits,” Joseph E. Stiglitz argues that more state involvement in the economy is part of the solution, not part of the problem....
2019-05-21 23:48

In China, Some Fear the End of ‘Chimerica’ As the trade war with the U.S. threatens to decouple the world’s two largest economies, some in China argue that the two sides benefit from the relationship more than they admit....
2019-05-21 23:48

Housing Crisis 2.0: Just Around the Block? Everyone remembers that housing prices were crushed during and even after the 2007-2009 financial crisis. Are we headed toward a repeat? Here's what we've been telling subscribers......
2019-05-21 21:48

What’s Driving the Housing Downturn? Interest Rates or Investor Psychology Housing data in 2018 looked ... unhealthy. The "villain" seems obvious -- namely, central bank rate hikes. But now see the charts and evidence that show a different (and far more credible) explanation....
2019-05-21 21:48

Here's the Consensus About a 2019 Recession A survey of chief financial officers reveals a near unanimous opinion about the prospects for a recession this year. This consensus has piqued our interest. Here's why......
2019-05-21 21:48

Trouble on the “Home” Front – What’s Next for Real Estate? In this interview, EWI's Pro Services analyst Murray Gunn speaks with Dana Weeks about what’s really behind the turn in housing, and what may be next....
2019-05-21 21:48

What Were YOU Reading When the Euro Peaked in 2018 – then Plunged For a Year? In February 2018, euro-bullishness was everywhere: Traders, the media, Wall Street. Now watch Jim Martens show his charts & forecast that went against the herd....
2019-05-21 21:48

Why Have Sedans "Slumped" and SUVs "Surged"? There is Indeed a Trend Behind the Trend Major stock market trends don't happen in a vacuum -- the "trend behind the trend" is literally visible throughout the culture and economy. In this interview with Dana Weeks, Matt Lampert explains the trend in automobile styles....
2019-05-21 21:48

The Fed Follows the Market Yet Again This article from Financial Forecast co-editors Steven Hochberg and Pete Kendall explains why the Fed DOES NOT drive interest rates. See the crystal-clear facts and evidence that uncovers the truth behind this common misconception....
2019-05-21 21:48

How Homebuilding Stocks Signal Big-Time Trouble Houses have been subject to price fluctuations like the stock market for one reason: They're considered an investment as much as a place to hang your hat. Learn what our analysts are saying about an "unmistakable" trend in the real estate market......
2019-05-21 21:48

Global Manufacturing: About to Enter "A World of Hurt"? See the broader economic context that day-to-day headlines don't deliver: Chart of the Day shows you the big-picture trend in the all-important trend in global manufacturing....
2019-05-21 21:48

Brexit Sage: Deflation and the "Generational Weakening" of the U.K. Economy In this interview, EWI's Murray Gunn shows Dana Weeks the evidence of a U.K. property decline -- and explains the big-picture meaning for mood and the larger economy....
2019-05-21 21:48

Be a faithful fiduciary — keep politics out of your decisions when investing other people's money Amid growing calls for divestment from several industries, Milton Friedman’s view on the role of business in politics bears repeating. Friedman explained that corporate executives are agents of the companies to which they are employed, acting on beha...
2019-05-21 20:32

Senate passes bill to fix tax hike on Gold Star families The Senate unanimously passed legislation Tuesday to fix a quirk in the tax code that resulted in Gold Star families seeing huge tax increases on the federal benefits they received....
2019-05-21 20:32

The real reason millennials are in such bad financial shape According to the Wall Street Journal, new data show millennials are in "worse financial shape than every preceding living generation." The most common response to this new reality is that millennials have been spoiled, and that is unquestionably true...
2019-05-21 20:32

Schumer praises Trump's decision to lift tariffs on Canada and Mexico Senate Minority Leader Chuck Schumer praised President Trump’s decision to lift tariffs against Mexico and Canada on aluminum and steel, but said there are “still many other issues” that must be resolved before the Democrats will back his proposed ne...
2019-05-21 17:48

Esto brevis: How Idaho accidentally let all of its regulations expire It’s not often that government ineptitude fuels progress. But Idaho can thank its bickering state legislature for providing it with a revolutionary opportunity....
2019-05-21 17:48

Automakers to Trump: Cars are not a national security threat If the negotiation had taken place at a car dealership, it would have ended with the customer walking away — without the keys to a new vehicle in hand....
2019-05-21 17:48

Biden says Trump is going to 'squander' the economy he got from Obama PHILADELPHIA — Former Vice President Joe Biden ripped into Donald Trump during his rally in Philadelphia Saturday afternoon, saying that the president would "squander" the economy he inherited from the last administration....
2019-05-21 17:48

Congress hates Trump's tariffs, yet sits by idly instead of acting There are numerous ways for Congress to check the president. In recent years, its members have frequently opted to pass so-called resolutions of disapproval to reverse administrative actions after they have been taken. An example of this is the proce...
2019-05-21 17:48

China disputes it ever agreed to US demands in trade deal Chinese officials disputed Monday they ever agreed to the "extravagant demands" the U.S. requested as part of a trade deal and said that further talks could only occur in an atmosphere of "mutual respect."...
2019-05-21 17:48

Canada and Mexico lift tariffs against US Canada and Mexico both announced Monday they will lift tariffs they placed on the United States last year in retaliation for the Trump administration's effort to pressure them during negotiations for the United States-Mexico-Canada Agreement on trade...
2019-05-21 17:48

Ford cuts 7K white-collar jobs DETROIT — Ford revealed details of its long-awaited restructuring plan Monday as it prepared for a future of electric and autonomous vehicles by parting ways with 7,000 white-collar workers worldwide, about 10% of its global salaried workforce....
2019-05-21 17:48

If Trump wants tariffs with China, then look to Taiwan and Japan for trade With both sides retreating to their respective corners, it appears the trade conflict between the United States and China, the two largest economies in the world, isn’t going to end anytime soon....
2019-05-21 17:48

‘Growing alarm’ over Fall Armyworm advance, with cash crops ‘under attack’ across Asia The Fall Armyworm pest is continuing to sweep across the globe, having moved eastwards from their native Americas, onto Africa, before arriving in Asia only last summer, where they now threaten to cost farmers from India to Thailand, billions of doll...
2019-05-21 16:00

Idai disaster: Stranded victims still need rescue from heavy rains as UN scales up response Dire conditions persist in vast areas of southern Africa affected by Cyclone Idai as heavy rain continues to cause “massive destruction”, the UN said on Thursday, while aid teams scale up efforts to reach those most in need....
2019-05-21 16:00

Education critical to ensure future of forests, and reverse their destruction The UN drew attention to the vital role that forests play in addressing some of the world’s greatest environmental challenges on Thursday, and the importance of tackling the issues that threaten them, such as deforestation, and land degradation....
2019-05-21 16:00

UN conference agrees better ways for Global South countries to work together on sustainable development The Second High-Level UN Conference on South-South Cooperation, known as BAPA+40, concluded on Friday in Buenos Aires, Argentina, with a political declaration agreed by more than 160 Member States renewing the global commitment in the promotion and i...
2019-05-21 16:00

The sun’s impact on Earth and weather celebrated, as planet marks World Meteorological Day Against a background of serious warnings against the effects of climate change, World Meteorological Day this year celebrates the crucial role played by the sun in powering all life on Earth, and in driving the weather, ocean currents and the hydrolo...
2019-05-21 16:00

‘Negative forces’ at work in DR Congo threaten ‘largely peaceful’ relations across Great Lakes region, says outgoing UN envoy The UN’s outgoing Special Envoy for Africa’s Great Lakes region on Tuesday said countries there had made “important steps towards durable peace and stability” in the last 20 years, resulting in a region that is now “largely peaceful”....
2019-05-21 16:00

Asia-Pacific showing ‘decisive leadership’ on road to 2030 Sustainable Development Goals, deputy UN chief tells key forum Nations across Asia and the Pacific need to take bold action to ensure empowerment, inclusiveness and equality if the region is to realize the ambitious 2030 Agenda for Sustainable Development, a major UN conference has heard....
2019-05-21 16:00

At Arab League Summit, Guterres reaffirms strong link between UN and people of Arab world Attending the Summit of the League of Arab States in Tunis, Tunisia, on Sunday, UN Secretary-General António Guterres, recognized the critical importance of the region on the international stage and called for even stronger cooperation between the UN...
2019-05-21 16:00

UN highlights profound implication of population trends on sustainable development The United Nations is highlighting the important role that population trends play in promoting sustainable development, during the annual Commission on Population and Development, which began at UN Headquarters in New York on Monday....
2019-05-21 16:00

Fight against climate change and poverty will fail without overhaul of global financial system, says major UN report A major new UN-led report, involving more than 60 international organizations, warns that a comprehensive overhaul of the world’s financial system is necessary, if governments are to honour commitments to tackle critical issues, such as combatting cl...
2019-05-21 16:00

IMF cuts global growth outlook, but predicts pick up later in 2019 The outlook for global growth is at its lowest since the financial crisis, but expected to pick up in the second half of 2019, the International Monetary Fund reported on Tuesday, so long as “policy missteps that could harm economic activity” are avo...
2019-05-21 16:00

Stress, overtime, disease, contribute to 2.8 million workers’ deaths per year, reports UN labour agency Stress, excessively-long working hours and disease, contribute to the deaths of nearly 2.8 million workers every year, while an additional 374 million people get injured or fall ill because of their jobs, the UN labour agency, ILO, said on Thursday....
2019-05-21 16:00

5 world-changing ideas: our top picks for World Creativity and Innovation Day A low-cost, tiny home that provides everything you need. A boat made of recycled plastic and flip-flops. Vaccine-delivery drones… As the planet marks World Creativity and Innovation Day on Sunday, we’ve selected our favorite ideas to light up the way...
2019-05-21 16:00

Monday’s Daily Brief: Earth Day, looking for a solution to Libya crisis, focus on indigenous issues, Security Council on Sri Lanka, a high-level visit to Bangladesh Top news for Monday include: the celebration of International Mother Earth Day, efforts by the UN to push for a political solution to the Libyan crisis, the opening of the annual Permanent Forum on Indigenous Issues, the UN Security Council's condemn...
2019-05-21 16:00

Chernobyl nuclear disaster-affected areas spring to life, 33 years on More than three decades after the devastating explosion at the Chernobyl nuclear power plant, parts of Belarus’ adjoining regions have sprung back to life and the biggest of them, Homiel, has become a leading destination for domestic and internationa...
2019-05-21 16:00

‘The green economy is the future,’ UN chief says in Beijing, urging climate solutions that strengthen economies, protect the environment Winning the race against climate change to keep our planet livable and on a healthy trajectory requires action rooted in sustainable solutions aligned with the Paris Agreement and the UN-driven 2030 Agenda for sustainable development, Secretary-Gener...
2019-05-21 16:00

Paradise islands of Pacific increasingly vulnerable to climate change, as UN boosts resilience A seeming paradise, life on the Pacific islands is threatened by climate change and extreme weather, frustrated by remoteness and a lack of educational and economic opportunities. Secretary-General António Guterres begins a visit to the region this w...
2019-05-21 16:00

‘We Have a Lot of Questions’: Doubts Loom Over G.M. Plan for Lordstown Plant President Trump said he was helping to save jobs at the Ohio factory after General Motors ceased production there. But such promises have not always panned out....
2019-05-21 15:16

They Got Rich Off Uber and Lyft. Then They Moved to Low-Tax States. Meet the semiretired millennials who left California for low-tax, low-stress places like Texas, as their former start-ups stampede toward the stock market....
2019-05-21 15:16

Trump Could Raise Tariffs on China. Here’s How China Could Respond. Beijing could match what the United States does, and its options include upping the ante in untraditional ways. But most of its choices come with drawbacks....
2019-05-21 15:16

Nonfiction: An Economist Who Believes Only Government Can Save Capitalism In “People, Power, and Profits,” Joseph E. Stiglitz argues that more state involvement in the economy is part of the solution, not part of the problem....
2019-05-21 15:16

U.S.-China Trade Standoff May Be Initial Skirmish in Broader Economic War The United States is wary of China’s growing role in the global economy and its tactics for getting ahead. China sees some of the demands as infringing on its sovereignty....
2019-05-21 15:16

The New New World: In China, Some Fear the End of ‘Chimerica’ As the trade war with the U.S. threatens to decouple the world’s two largest economies, some in China argue that the two sides benefit from the relationship more than they admit....
2019-05-21 15:16

The Economy Is Strong and Inflation Is Low. That’s What Worries the Fed. The Fed’s struggle to coax inflation to its 2 percent target signals the faltering of a foundational economic relationship. That could create a problem in the next recession....
2019-05-21 15:16

Beijing defiant on trade war: 'No one should expect China to swallow bitter fruit' The United States and China appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any "bitter fruit."...
2019-05-21 14:32

JP Morgan: The US-China tariff battle is just the start of a global trade reordering "I think we have to recognize as equity investors, in particular, this is now the new normal," said James Sullivan, head of Asia ex-Japan equity research at J.P. Morgan....
2019-05-21 14:32

Fed's Williams says policymakers need to better prepare for a lower interest rate world Torturously slow recoveries from recessions and low inflation are here to stay unless policymakers can get a better grip on how to stabilize the global economy in an era of lower interest rates, a top Federal Reserve policymaker said on Tuesday....
2019-05-21 14:32

US weekly jobless claims fall more than expected First-time claims for state unemployment benefits were expected to total 220,000 for the most recent week, down from the 228,000 claims reported for the previous week....
2019-05-21 14:32

Here's what to do if the US-China trade war ignites layoffs The trade war with China and rising pressure on manufacturers and retailers are bringing a new worry: layoffs. Here's how to manage if you lose your job....
2019-05-21 14:32