SHANGHAI/BEIJING Moody’s Investors Service downgraded China’s credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise. The one-notch downgrade in long-term local and foreign currency issuer ratings, to A1 from Aa3, […]
Category: Market
Over 200,000 Jobs Added, Beating Projections
Hiring in the United States rebounded in April as employers added a brisk 211,000 jobs, a sign that the economy’s slump in the first three months of the year could prove temporary. The unemployment rate dipped to 4.4 percent — its lowest point in a decade — from 4.5 percent in March. The figures suggest […]
French Election Could Impact Stock Market
As French voters head to the polls, investors are grappling with a remote yet not implausible possibility — victory for Marine Le Pen. The anti-euro leader of the far-right National Front is unlikely to triumph in the two-round presidential vote that kicks off Sunday. But few observers discount a win for Ms. Le Pen entirely, […]
Trump Tanks The Dollar
The dollar fell on Wednesday after President Donald Trump criticized its recent strength, but analysts expect the greenback to bounce back soon. Trump said the currency was “getting too strong” in an interview with The Wall Street Journal. “I think our dollar is getting too strong, and partially that’s my fault because people have confidence […]
Jobs Report Shows Disappointing Growth
Payroll growth weakened significantly last month amid harsher winter weather as employers added 98.000 jobs in a sharper pullback than anticipated. The unemployment rate, which is calculated from a different survey, fell to 4.5% from 4.7%, the Labor Department said Friday. Economists surveyed by Bloomberg projected 180,000 employment gains, based on their median estimate. Analysts […]
Maker Of Tomahawk Missiles See A Rise In Stock Price
Raytheon, the company that makes the Tomahawk missiles used in the air strikes on Syria by the United States, is rising in early stock trading Friday. Investors seem to be betting President Trump’s decision to retaliate against Syria after the chemical attack on Syrian citizens earlier this week may mean the Pentagon will need more […]
Trade Deficit Shrinks At Record Rate
The U.S. trade deficit declined sharply in February as imports from China fell by a record amount and American exports rose for a third straight month. The Commerce Department says the deficit fell to $43.6 billion in February, 9.6 per cent below January’s deficit of $48.2 billion. Exports rose a tiny 0.2 per cent to […]
Trump To Tackle American Trade Deficit
President Donald Trump is expected to sign two executive orders on Friday, which aim to fulfill key campaign promises to make trade more fair. The first commissions a report on trade practices that contribute to the trade deficit, while the second seeks better collection of anti-dumping and countervailing duties. The report, spearheaded by the Commerce […]
JC Penney Closing 138 Stores Nationwide
J.C. Penney on Friday released a list of 138 department stores it plans to close as part of a previously announced plan to shrink its footprint as it grapples with industry challenges. The company had estimated that it would close 130 to 140 locations. Most stores will begin liquidation sales April 17 and close in […]
Staples Announces The Closing Of 70 Stores Nationwide
Office-supplies retailer Staples plans to close another 70 stores this year, the company said Thursday. Staples made the announcement in its fourth-quarter earnings report, in which it disclosed it lost $548 million in 2016 as sales dropped 3 percent. The company did not say which locations will be shuttered. Staples has about 75 stores in […]
Despite Trump Boasts, Job Numbers Identical To Obama
President Donald Trump on Friday flipped his approach to the government’s employment report, celebrating the kind of strong showing he dismissed as phony under President Barack Obama. The Labor Department reported that the economy created 235,000 jobs in February, above the 190,000 consensus, allowing the president to claim that business enthusiasm over his approach to […]
Economy Adds Almost 300,000 New Jobs In February
WASHINGTON – U.S. private businesses added the most jobs in three years last month, a private survey found, a sign that hiring is picking up seven years after the recession ended. Payroll processor ADP said Wednesday that businesses added 298,000 jobs in February, up from 261,000 in January. The gains were led by a huge 66,000 […]