Economic News

  • Trump moves toward China tariffs in warning shot on technology transfer

    WASHINGTON (Reuters) - U.S. President Donald Trump lit a slow-burning fuse on Thursday to launch long-promised anti-China tariffs, but his actions appeared to be more of a warning shot than the start of a full-blown trade war with Beijing.

  • Stocks tumble to worst day in six weeks after Trump tariff action

    NEW YORK (Reuters) - U.S. stocks slumped on Thursday as President Donald Trump's move to impose tariffs on up to $60 billion of Chinese imports drove fears about the impact on the global economy, fueling the biggest percentage declines in Wall Street's three major indexes since they entered correction territory six weeks ago.

  • Government funding bill hits snag in Senate

    WASHINGTON (Reuters) - Legislation to fund the government beyond Friday, which was on a fast track toward passage by the U.S. Congress, hit a bump on Thursday as Republican Senator Rand Paul employed procedural delays while he hunkered down to read the 2,232-page tome.

  • Saudi Arabia's new crown prince to sit down with Wall Street

    BOSTON/NEW YORK (Reuters) - Saudi Arabia's crown prince will rub shoulders in New York next week with top figures from Wall Street and Corporate America, part of a whistle-stop first visit to the United States since becoming King Salman's heir apparent last year.

  • Goldman Sachs no longer one of top three commodities banks

    LONDON (Reuters) - Goldman Sachs lost its place among the top three earners of commodities-related revenue in 2017, falling below rivals JPMorgan , Morgan Stanley and Citibank for the first time, data from analytics firm Coalition showed.

  • Ackman exits Nike stake with $100 million in profit: source

    (Reuters) - Investor William Ackman has stepped out of his Nike sneakers, at least in a financial sense.

  • U.S. steel shares slump on more exemptions from Trump's tariffs

    NEW YORK (Reuters) - Shares of U.S. steel and aluminum companies were hammered on Thursday as the United States said it would exempt more countries from a tariff on metals imports that has been promoted as invigorating industry.

  • Euro leaders to renew reform pledges at "pit stop" summit

    BRUSSELS (Reuters) - Euro zone leaders will on Friday give fresh impetus to reforms aimed at making the bloc more resilient to crises, with plans having stalled over the last three months in the absence of a permanent government in Germany.

  • Puerto Rico reaches deal to access U.S. disaster loans

    (Reuters) - The U.S. Treasury Department and storm-ravaged Puerto Rico say they have reached a deal to let the bankrupt U.S. territory access billions of dollars in long-disputed federal loans to help it recover from last year's Hurricane Maria.

  • Venezuela to knock three zeros off ailing currency

    CARACAS (Reuters) - Venezuela's President Nicolas Maduro ordered a "redenomination" of the ailing bolivar currency on Thursday, knocking off three zeros amid hyperinflation and a crippling economic crisis.

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