The U.S. economy added 138,000 jobs in May, according to the monthly jobs report released by the Bureau of Labor Statistics on Friday morning. The national unemployment rate nudged lower, to 4.3 percent from 4.4 percent — a 16-year low. The 4.4 percent level had been the lowest since since 2007, before the recession hit. […]
Category: Business
Goldman Sachs Accused Of Propping Up Foreign Dictator
CARACAS The president of Venezuela’s opposition-run Congress on Monday accused Wall Street investment bank Goldman Sachs of “aiding and abetting the country’s dictatorial regime” following a report that it had bought $2.8 billion in bonds from the cash-strapped country. The Wall Street Journal on Sunday said Goldman paid 31 cents on the dollar for bonds […]
Trump Budget Has Huge $2 Trillion Dollar Math Error
“A New Foundation for American Greatness” was built on quicksand, and the president’s defenders are happy to keep shoveling it. President Donald Trump’s newly unveiled budget contains a massive accounting error that uses the same money twice for two different purposes. Based on its supersized projections of 3 percent GDP, the president’s budget forecasts about […]
China’s Credit Rating Is Downgraded As Debt Grows
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, […]
China Pledges $124B To Form New Age Silk Road Of Trade
BEIJING Chinese President Xi Jinping pledged $124 billion on Sunday for his new Silk Road plan to forge a path of peace, inclusiveness and free trade, and called for the abandonment of old models based on rivalry and diplomatic power games. Xi used a summit on the initiative, attended by leaders and top officials from […]
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 […]
Trump Tax Plan Sent Back To Drawing Board
Before the election, Trump inked a “contract with the American voter” saying he’d work with Congress to present an ambitious tax reform plan within the first 100 days of his presidency. In early February he told a roomful of CEOs that his administration would be announcing something “phenomenal in terms of tax” within two to three weeks. Then […]
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 […]