Fed expected to cut rates as economy feels trade war impact, despite strengthening consumer
Federal Reserve Chairman Jerome Powell testifies during a House Financial Services Committee hearing on “Monetary Policy and the State of the Economy” in Washington, July 10, 2019. Erin Scott | Reuters The Fed is expected to move ahead to cut...
China wants to track and grade each citizen’s actions — it’s in the testing phase
People walk past the Public Credit Information Service Hall in Suzhou, China, on May 6, 2019. Suzhou was one of several places chosen in 2018 by the Chinese government to run a social credit trial, which can reward or punish...
US growth could be weakest in more than two years but latest data might not affect Fed’s next move
An assembly line worker works on the production line at Midwest Automotive Designs in Bristol, Indiana, April 16, 2019. Tim Aeppel | Reuters The U.S. economy is expected to have grown in the second quarter at the slowest pace in...
House passes two-year debt ceiling and budget deal, sending it to the Senate
The House on Thursday passed a bill to raise the U.S. debt ceiling and set budget levels for two years, taking a step toward avoiding calamity that threatens to disrupt the economy. The Democratic-held chamber approved the measure in a...
Hedge fund manager Kyle Bass says a US-China trade deal can’t be reached
Hedge fund manager Kyle Bass is doubtful a trade deal between the U.S. and China could be reached and believes the Federal Reserve’s rate cuts are less effective these days. “Every deal that the Chinese have signed up with us...
Robinhood warns some users to change passwords after revealing they weren’t encrypted
If you use Robinhood to trade stocks, you might want to consider changing your password. The popular stock-trading app emailed some of its users Wednesday to warn that private log-ins were stored in an unsecured way. These passwords were kept...
US weekly jobless claims unexpectedly decline
Job seekers tour the Amazon Fulfillment Center during an Amazon jobs fair in Robbinsville, New Jersey. Getty Images The number of Americans filing applications for unemployment benefits unexpectedly fell last week, pointing to continued strong labor market conditions. First-time claims...
US weekly jobless claims fall to a 3-month low
Job seekers tour the Amazon Fulfillment Center during an Amazon jobs fair in Robbinsville, New Jersey. Getty Images The number of Americans filing applications for unemployment benefits fell to a three-month low last week, pointing to sustained labor market strength...
PayPal stumbles 6% after missing on revenue, slashing full-year outlook
Shares of PayPal fell as much as 6% in after-hours trading after the payments giant missed Wall Street’s estimates for second-quarter revenue and lowered its full-year guidance. PayPal’s revenue for the quarter rose to $4.31 billion, up 12% from a...
Based on what people are searching for on Google, a recession is nowhere near
Loic Venance | AFP | Getty Images If what Americans look for on Google is any indication, we’re nowhere near a recession. DataTrek Research examined domestic internet searches for words like “coupon” and “unemployment,” which were leading indicators of the...
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