Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Tesla solar panels ignited at an Amazon warehouse in Redlands, California in June 2018, Bloomberg reports. The news comes days after Walmart sued Tesla for at least 7 fires...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Leading investment banks in the U.S. face certain fallout in the event that the U.K. leaves the European Union, with thousands of staffers set to see their jobs impacted.
That's the sentiment from a Keefe, Bruyette & Woods report, which says banks may have to increase expenses, shed staff and take a temporary earnings hit if U.K. voters approve the Brexit on June 23. Should the leave vote prevail, big banks would have to transition London staffers to cities in the EU to meet regulatory requirements, a large burden for the firms to shoulder.
"[A] U.K. vote to leave the EU would be a negative for the U.S. universal banks since costs could increase and capital markets activity could weaken," analysts wrote in a report Thursday. "Banks may have a two-year transition period and we'd expect the banks to experience both revenue and expense headwinds during the transition."