Home Depot's CEO says the retailer cut its outlook partly due to "the potential impacts to the U.S. consumer arising from recently announced tariffs."Retailread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
GE kicks off a new week after some crazy moves. Two traders urge caution.Trading Nationread more
Porsche and Apple believe music streaming is the next advancement for in-car entertainment. The luxury automaker and tech giant are teaming up to allow drivers of the all-new,...US: Consumer Servicesread more
J.P. Morgan advised clients in a note early Tuesday that it was time to buy shares of Beyond Meat again.Marketsread more
U.K. Prime Minister Boris Johnson told the EU that a Brexit deal can still be approved by U.K. lawmakers if Brussels agrees to scrapping the contentious Irish "backstop."read more
Baidu posted better-than-expected earnings for the June quarter, swinging back to profit and managing to stabilize its core ad business.Technologyread more
An exchange-traded fund based in mortgage-backed securities may provide just the kind of stable income investors need in this market, says ETF.com's Dave Nadig.ETF Edgeread more
WESTERVILLE, OHIO—As John Kasich will be the first to tell you, he brings an impressively-rounded resume to the 2016 Republican presidential race.
He chaired the House Budget Committee and helped negotiate the first balanced-budget deal in a generation with Bill Clinton's White House. He hosted a TV show for Fox News. He worked as a financial executive for Lehman Brothers before its 2008 collapse.
"I traveled all over the country, and I was really involved in trying to help companies to be more successful," he said. "It was a fantastic experience to see the way CEOs think, the way the boards of directors work. "
But it also showed him a less-flattering side of modern capitalism. "There is an element of greed on Wall Street that is not good," he said. "There are some people there who would advise a company to do something that wasn't in their best interest, Because if a company does something, that banker would get paid. When the greed factor goes high, then I think mistakes get made."
Though no Wall Street bankers went to jail as a result of the financial crisis, the deeply-religious governor warned of a different sort of punishment: "Just because you do something that's greedy that can end up in failure doesn't mean you committed a crime. But you know what? There's a judgment that comes later, about how many people get hurt. And frankly, that's a pretty tough judgment in my opinion."
Kasich also has presidential campaign experience from a brief bid for the 2000 Republican nomination. Last year he was overwhelmingly re-elected to a second term as governor of Ohio—among the most important swing states in the country.
None of this makes Kasich, still exuberant at age 63, a favorite in the Republican race. His formal entry into the race next week places him well behind the likes of Ted Cruz, Rand Paul, Jeb Bush and Marco Rubio. With a brashness verging on eccentricity, Kasich doesn't always come across as central casting's idea of a president.
Even more problematic, Kasich has refused to follow Republican rivals in relentlessly resisting all aspects of President Barack Obama's new health care law. He pushed Ohio to adopt the Obamacare Medicaid expansion that many conservatives regard as an unaffordable expansion of government entitlement programs. He embraced the Common Core educational standards and has refused to reverse course.
"Why would I back off?" he asked cheerfully in an interview here at the Monte Carlo Italian Kitchen, the casual restaurant where his Bible study group meets. As for the Medicaid expansion, he said treating mentally ill and drug-addicted Ohioans is cheaper for taxpayers than keeping them in prison.
He won't say whether he will run on a pledge to oppose all tax increases, as some of his opponents are doing. His approach carries echoes of the tone struck by former Florida Governor Jeb Bush, who currently leads New Hampshire polls. But it lacks the cachet with conservatives enjoyed by tough-talking Wisconsin Gov. Scott Walker, who leads in Iowa.
"Balanced budgets, cut taxes by more than anybody in the country—I have a history of doing that," he explained. "But I also think we have to reach out to people who live in the shadows. I don't know that everybody gets it."
"When i look at the Old and the New Testament, there's one thing that is clear in there," he added. "And that is, it does depend on how we help people who are downtrodden, down on their luck, the widowed, the poor."
Kasich's observation offends some conservatives who believe it impugns the character of those who disagree with him. At the same time, it holds the potential to appeal to moderate swing voters should Kasich be able to win the nomination or land a place on the Republican ticket as the vice presidential candidate.