Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
With "tariff man" President Trump waging a tariff war and Democratic candidates pushing against big international deals, free trade has become politically homeless, writes...2020 Electionsread more
Canadian trade union Unifor said roughly 4,500 of its members have been temporarily laid off because of the GM strike so far.Autosread more
Since the Cambridge Analytica scandal in March 2018, Facebook has suspended tens of thousands of apps stemming from an investigation into its developer ecosystem.Technologyread more
Uber Technologies Inc sued New York City on Friday over a new rule limiting how much time its drivers can spend in their vehicles.Transportationread more
The former top aide of retired United Auto Workers Vice President Joe Ashton, a former member of the GM's board, was charged Friday with conspiracy to commit wire fraud and...Autosread more
Stocks fell to their lows of the day on Friday on news that Chinese trade officials are cutting short their visit to the U.S.US Marketsread more
The wearables company has retained advisors to consider exploring a sale of the business.Technologyread more
Some call them HENRY's—High Earners Not Yet Rich. Others call them the Faux Riche—people who look rich but aren't.
In my last book, I called them the High-Beta Rich, a new class of wealthy whose spending and wealth fluctuate wildly with markets.
A new paper calls them the "hand-to-mouth" wealthy. And it says there are 70 million such households in the U.S., suggesting that wealth today is far more precarious than many think.
The paper, by economists Greg Kaplan, Giovanni L. Violante, and Justin Weidner said these families often own homes, cars, and boats, but spend virtually all of their paychecks.
The high costs of college and other bills has made many wealthy families feel more vulnerable to economic shocks—especially when their wealth is tied up in illiquid assets.
(Read more: YUMMY's: Luxury's great hope)
"The wealthy 'hand-to-mouth' are households who hold little or no liquid wealth (cash, checking and savings accounts), despite owning sizable amounts of illiquid assets," the study said.
The paper said that when governments create stimulus programs, they target the poor. But they might do well to also target the hand-to-mouth wealthy, since they too are likely to spend the extra money and help the economy.