Investors are starting to worry about the economy
Wall Street doesn’t seem to care about the escalating trade war between the United States and China. The Dow jumped 175 points and the Nasdaq climbed 1% on Tuesday despite Washington and Beijing pushing ahead with another round of punishing tariffs. Investors are betting the US economy will continue to power ahead of the rest […]
The last thing Europe needs: another Greek debt crisis
How’s this for déjà vu? Another debt crisis is brewing in Europe. Greece needs European creditors to release cash from a bailout agreed in 2015 so it can make debt repayments, but officials are at loggerheads. Investors are starting to worry, demanding higher returns on Greek debt. Adding to the confusion is a warning from […]
Goldman Sachs slants research to help Democrats, top White House adviser says
New York CNN Business — Kevin Hassett, one of President Donald Trump’s top economic advisers, suggested that Goldman Sachs may be slanting its economic research to help Democrats ahead of the midterm elections. The Goldman Sachs economics team “almost at times looks like the Democratic opposition,” Hassett told CNN’s Poppy Harlow on Tuesday. The comment […]
Premier Li Keqiang says Beijing will never devalue yuan to boost exports
The trade war between China and the United States is intensifying, but Beijing has just taken one potential weapon off the table. Premier Li Keqiang told an audience of global executives and policymakers that China would not weaken the yuan to boost trade with the rest of the world. “China will never go down the […]
Trump isn’t killing the bull market. Here’s why
More and more business leaders and Wall Street strategists are expressing their worries about what President Donald Trump’s protectionist policies and unpredictable nature might do to the markets and economy. But we all know that action speaks louder than words. What investors are actually doing is in stark contrast to what people are saying. The […]
Volkswagen dumps jailed Audi CEO amid emissions probe
London CNN — Volkswagen has severed ties with suspended Audi CEO Rupert Stadler, who has been jailed since June in connection with an emissions investigation. Stadler has left the board of management of Audi parent company Volkswagen (VLKAF) and stepped down as chairman of the premium brand’s management board, the autos group said in a […]
Executives in China worry about what comes next
Companies in the front line of the trade war between the United States and China are anxious about what comes next. Executives at a World Economic Forum event in the northern Chinese city of Tianjin have been digesting the dramatic escalation in the conflict this week. Some appear relaxed, some worried, while others are hoping […]
Visa crackdown puts these rural doctors at risk
At his pediatrics practice in Sioux Falls, South Dakota, Dr. Alaa Al Nofal sees up to 10 patients a day. He’s known some of them since they were born. Others, he still treats after they’ve graduated from high school. “I treat these children for Type 1 diabetes, thyroid problems, thyroid cancer, puberty disorders and adrenal […]
S&P downgrades debt-riddled GE and GE Capital
New York CNN Business — New General Electric boss Larry Culp just got a fresh reminder of the debt-riddled balance sheet he’s inheriting. Barely 24 hours after Culp became CEO, S&P Global Ratings downgraded the credit ratings of GE (GE) and GE Capital. Moody’s and Fitch warned they could do the same. All three ratings […]
China strikes back by going after America’s energy companies
Editor’s Note: This story was originally published September 19, 2018. New York CNN Business — The United States has an abundance of natural gas that pollution-riddled China badly needs to wean itself off coal. Eying China’s voracious demand, Cheniere Energy, ExxonMobil (XOM) and other American energy companies are racing to build more than two dozen […]
