The Trump administration will impose a 25 percent tariff on up to $50 billion in Chinese goods, a decision that brought swift condemnation from Beijing as trade conflicts between the world’s two largest economies escalate. In a statement Friday, President Donald Trump said the measures will affect Chinese goods “that contain industrially significant technologies.” The […]
Category: Market
Record Setting Job Market: More Openings Than Unemployed
WASHINGTON – For the first time on record, the number of job openings in the United States exceeds the number of unemployed Americans — a trend that may soon give workers more leverage to demand pay raises. With employers struggling to fill openings, the number of available jobs in April rose 1 percent to 6.7 […]
US Economy Exceeds Expectations By Adding 223,000 Jobs In May
WASHINGTON — US job growth accelerated in May and the unemployment rate dropped to an 18-year low of 3.8 percent, pointing to rapidly tightening labor market conditions, which could stir concerns about inflation. The closely watched employment report on Friday also showed wages rising solidly last month, cementing expectations that the Federal Reserve will raise […]
Trump Planning To Hit European Union With Steel, Aluminum Tariffs
WASHINGTON—The Trump administration, unable to win concessions from European Union counterparts ahead of a Friday deadline, is planning to make good on its threat to impose tariffs on European steel and aluminum, people familiar with the matter said. The administration is expected to make an announcement as early as Thursday. The move, which has been […]
Sears To Close 72 More Stores After Sells Continue To Fall
Sears Holdings Corp., which operates Sears and Kmart, said Thursday that it is closing 72 more of its stores. Here, shoppers look for deals at the last remaining Sears store in Chicago before it closes this summer. Sears Holdings Corp., which controls Sears and Kmart, says it has “identified approximately 100 non-profitable stores, 72 of […]
Congress Just Repealed Laws That Prevented Banks From Another 2008 Crash
The House voted late on Tuesday to pass a bill that will change significant aspects of Dodd-Frank, the banking reform bill introduced after loose lending and risky maneuvers by financial institutions led to the country’s worst recession since the Great Depression. Since it passed in 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act […]
Job Opening Hit Record High In The United States
Job openings in the U.S. hit a record high in March with 6.6 million jobs advertised, according to a report released by the Labor Department on Tuesday. The Labor Department, which has been tracking job openings since 2000, said in its monthly Job Openings and Labor Turnover Summary that total job openings increased by 7.8 percent, […]
Subway To Close Over 500 Stores This Year
With its commitment to customizability and the catchy $5 footlong jingle, it’s no wonder Subway is the most ubiquitous food chain in the world. In fact, its nearly 26,000 nationwide locations even top Mickey D’s by more than 10,000. But it might be time to make one last mad dash to your neighborhood sandwich shop. […]
Trump Considers Re-Entering Trade Agreement He Called A “Disaster”
Trump on Thursday instructed top administration officials to explore re-entering the Trans-Pacific Partnership (TPP) — a trade pact he pulled the U.S. out of last year while calling it a “disaster.” Speaking after a trade meeting with Trump, Republican senators said the president told White House National Economic Council Director Larry Kudlow and U.S. Trade […]
Dow Jones Plummet As Trade War With China Set To Heat Up
Stocks plunged on Wednesday after China announced new tariffs on 106 more U.S. products, increasing worries. The Dow Jones industrial average tanked more than 350 points, with Boeing and Caterpillar leading all stocks in the index lower. The S&P 500 dropped 1.2 percent, with energy and industrials as the worst-performing sectors. The Nasdaq composite declined […]
Famed Frontier Gun Manufacturer Remington Files Chapter 11
Remington, a company that began making flintlock rifles when there were only 19 United States, has filed for bankruptcy protection. Mounting debts at the arms manufacturer have snowballed, ironically, since the election of Donald Trump, who has called himself a “true friend” to the gun industry. Remington, which as roots dating to 1816, has lined […]
Dow Drops Over 700 Points After Trump’s Tariffs Take Effect
The stock market takes a hit has Trump’s lead attorney John Dowd resigns and Trump targets China with tariffs. U.S. stocks suffered heavy losses Thursday amid a day of sharp volatility after President Donald Trump unveiled his tariffs on China, at the same time he is dealing with the departure of his chief legal eagle […]