Mnuchin: ‘We were about 90% of the way’ on China trade deal and there’s a ‘path to complete this’
Treasury Secretary Steven Mnuchin told CNBC on Wednesday the U.S. and China were close to a trade deal, and he’s optimistic that progress can be made during weekend talks between President Donald Trump and China’s Xi Jinping. “We were about...
The trade war is weighing on Chinese home buying in the US
The downtown skyline of Los Angeles, California. Frederic J. Brown | AFP | Getty Images Chinese home buyers last year ponied up much less cash in the U.S. as the trade war continues to escalate between the world’s two largest...
NBC is removing ‘The Office’ from Netflix in 2021 and putting it on its new streaming service
‘Valentine’s Day’ Episode 16 of the sitcom The Office. Pictured is the cast of the sitcome: (L to R) Angela Kinsey as Angela Martin, Kate Flannery as Meredith Palmer, Steve Carell as Michael Scott, Phyllis Smith as Phyllis Lapin-Vance, and...
Trump and Xi meet Saturday — If it goes poorly, the global economy could teeter into recession
President Donald Trump and China’s President Xi Jinping make joint statements at the Great Hall of the People in Beijing, Nov. 9, 2017. Jonathan Ernst | Reuters Stocks are likely to see a temporary relief rally and bonds could sell...
Major companies are ringing alarm bells, trying to warn Washington about more tariffs
Mark Ralston | AFP | Getty Images More than 300 companies are talking to government officials in Washington this month about how detrimental the trade war between the U.S. and China has been and will be to their business. Testifying...
Fed chief Jerome Powell warns against policy bending to ‘short-term political interests’
Federal Reserve Chairman Jerome Powell stressed the central bank’s independence in a speech Tuesday that comes amid continuous pressure from the White House to cut interest rates. He spoke during a event at the Council on Foreign Relations in New...
New home sales sank 7.8% in May, despite a big drop in mortgage rates
Homebuyers pulled away from the builders in May, even as affordability improved thanks to lower mortgage rates. Sales of newly built homes fell 7.8% from April were 3.7% lower than in May 2018, according to the U.S. Census. This number...
Consumer confidence drops more than expected, reaching its lowest point in nearly two years
A key measure of the American economy slipped this month after three consecutive months of increases as consumers saw the trade war with China as an increased risk. The Conference Board’s consumer confidence index declined to 121.5 in June, the...
Debt and deficits won’t be as bad as feared but are still dangerous, CBO says
Both the nation’s debt and deficit will grow more slowly than previously forecast, according to new government data, the result of lower interest rates and reduced disaster spending. The Congressional Budget Office estimated Tuesday that the national debt will rise...
Britain’s popular digital bank Monzo doubles valuation to $2.5 billion
Tom Blomfield | Monzo Monzo U.K. online bank Monzo has raised £113 million ($144 million) in a fresh round of funding led by the U.S. start-up accelerator Y Combinator. Y Combinator, which has helped create companies such as Airbnb and...
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