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News
  • Dec 10,2018
    By imposing tariffs, Trump has in effect raised taxes on most Americans and made them poorer“I am a Tariff Man,” Trump tweeted last week. “When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so…. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN.”I’m sorry, Mr President, but you got this wrong. Tariffs...
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  • Dec 10,2018
    With the median price of a rental at $4,550, restaurant workers can’t afford to live in the city considered the epicenter of the foodie revolutionThe handwritten sign on the front window of the shuttered Blue Fig Cafe last month bade a sad farewell to the days when San Francisco could support an old-fashioned coffee house.The problem that led the eight-year-old Valencia Street cafe to shut down wasn’t...
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  • Dec 7,2018
    US economy only created 155,000 new jobs last month and wage growth disappointsLatest: Wall Street closes in the redHuawei bail hearing, as trade worries loomAnalyst: White House is spooking marketsOpec agrees oil production cutBREAKING: US jobs report weaker than hoped 9.07pm GMT And finally.... Wall Street can put a brutal week behind it, as the closing bell rings.The Dow Jones industrial average...
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  • Dec 7,2018
    Dow falls over 500 points as disappointing figures suggest world’s biggest economy is running out of steamWall Street resumed a sell-off on Friday after disappointing figures from the US jobs market suggested the world’s biggest economy is running out of steam.Adding to concerns rattling stock markets over Donald Trump’s trade dispute with China, the US labor department said that the US economy...
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  • Dec 2,2018
    Strains are showing in the US economy and the president knows a downturn would harm his chances for a second termThe strong economy that helped Donald Trump scrape through the midterm elections looks like it might make itself absent when he runs for re-election in 2020. In recent months, strains have started to appear that belie America’s vigorous headline growth rate and its buoyant jobs market.Last...
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  • Nov 28,2018
    Rates currently ‘just below’ range Fed officials consider neutralPresident had said he was ‘not a little bit happy’ with PowellThe Federal Reserve chairman, Jerome Powell, appeared to cautiously climb down on the central bank’s interest rate policy on Wednesday after another assault on his tenure from Donald Trump.Powell has been gradually raising rates since he was confirmed to his position...
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  • Nov 27,2018
    Current policies are hitting real incomes – and only voters, not central banks, can change thatThe world is in a trade war and there is no sign of peace breaking out anytime soon. By now, the disruption to trade appears extensive enough to factor negatively into forecasts for economic growth. Does that mean the Federal Reserve should stop gradually raising interest rates?The answer is no. Monetary...
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  • Nov 25,2018
    Presidents Trump and Xi will meet in Buenos Aires this week, but it seems neither China nor the US is in conciliatory moodMuch of the attention at the G20 summit in Argentina this week will be focused on the sidelines, rather than the main events. It is there that, after the expected smile and handshake for the cameras, US president Donald Trump will meet Chinese premier Xi Jinping, as the trade war...
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  • Nov 20,2018
    More tariffs from Washington will be a major drag on Chinese growth, JP Morgan says, as its predicts more Fed rate hikesThe US-China trade standoff will continue to weaken confidence in the global economy into next year, economists have warned, as the increasingly gloomy outlook for growth dragged on share markets across the world.Plunging oil prices and intensifying concerns about technology stocks...
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  • Nov 18,2018
    The annual US celebration of small businesses is demeaning. If we’re good at what we do, we don’t need acts of charityOn 24 November, the day after Black Friday and two days before Cyber Monday, Americans will “celebrate” our eighth annual Small Business Saturday.The holiday, which started in 2010, has grown into something of a national phenomenon. What began as just a promotional campaign...
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  • Nov 12,2018
    Apple shares were down 5% after suppliers cut their forecasts, causing the tech-heavy Nasdaq and other tech stocks to fallStock markets in Asia have tumbled after a sharp selloff on Wall Street hit leading companies including Apple, Goldman Sachs and General Electric.With Monday’s losses, all three major Wall Street bourses erased the gains from their brief rally after the US congressional elections...
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  • Nov 11,2018
    US steel plants are meant to be booming in the wake of Trump’s tariffs – but tell that to production line workers in TrentonUnion member and mill operator Joey Casey, 40, wasn’t getting paid for the day, so he enjoyed lunch at Thatcher’s BBQ on the main square in Trenton, Georgia. Related: Trump hits China with $200bn of new tariffs as trade war escalates We made this company, we made it what...
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  • Nov 7,2018
    The elections have changed the political landscape and will affect the Mueller investigation, the border wall, the economy, healthcare, climate change and redistrictingDemocrats in the House of Representatives are likely to reopen an intelligence committee investigation into Russian interference in the 2016 election – and begin assisting the criminal inquiry on the same subject by the special counsel...
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  • Nov 7,2018
    Gridlock on Capitol Hill reduces chance of further fiscal stimulus and tax cuts, economists sayMidterm elections – live updatesMidterms results – live tracker 4.54pm GMT European stock markets have closed solidly higher tonight, as a wave of relief sweeps through trading floors. In London, the FTSE 100 has closed 76 points higher at 7117, up 1.1%.Historically, equity markets have performed well...
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  • Nov 4,2018
    In the lead-up to his Australian visit, the renowned economist warns of the triple threat of rising inequality, the undermining of democracy and climate changeIt’s a stark message from a Nobel-prize winning economist.“We were a very different country 40 years ago,” he says. “The downhill slide has been pretty fast. America, I think, should be an important warning to other countries not to take...
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  • Nov 4,2018
    This is as good as it gets for the president’s first term – labour shortages will fuel interest ratesThe US has its lowest unemployment rate since Richard Nixon was in the White House 48 years ago. Wages are growing at their fastest rate in almost a decade. No other G7 country will come close to matching America’s growth rate this year.All of which ought to be a concern for Donald Trump. If that...
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  • Nov 4,2018
    From trade wars to tax breaks, the administration is claiming credit for a booming economy ahead of the midterm elections – could it help him win?“We’re going to win so much, you’re going to be so sick and tired of winning,” Donald Trump promised on the campaign trail ahead of his election. And as the president faces his first midterm vote, the big test for Trump will be whether voters are...
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  • Nov 3,2018
    The economy is booming but it is less Morning in America, more Recurring Nightmare. Truly, this is a Fox News electionBy this stage of the Trump presidency, our greatest of great leaders promised, we would be winning pretty much in every sphere of human civilization. The economy, the military, healthcare, fantasy football, the Mega Millions lottery. You name it. Related: Feel the love, feel the hate...
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  • Nov 2,2018
    FTSE 100 closes down 18 points while Wall Street drops after release of strong jobs market dataA strong week for global stocks has ended on an uncertain note at a time of fears over delays to resolve the American trade dispute with China and concerns over rising US interest rates.The FTSE 100 closed down 18 points on Friday, while Wall Street dropped in afternoon trading in New York after the release...
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  • Nov 2,2018
    Investors take fright at slowing forecasts and withholding of number of handsets soldThe stock market value of Apple has dipped below $1tn (£770bn) after the decision to stop revealing how many handsets it sells stoked concerns among investors that iPhone sales have peaked.The tech company’s shares fell sharply on Friday as investors digested a slowing sales picture coupled with reduced financial...
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