The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead 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
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
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
New York Fed President William Dudley said Thursday that Wall Street is no longer the growth engine it once was for the city's labor force, and its precrisis excesses and regulation may be why.
Dudley said there are several competing theories about financial-sector jobs. "One hypothesis was the sector was overheated in the run-up to the financial crisis. There was a lot of financial activity that was not sustainable," he said. Dudley specifically pointed to the underwriting of mortgages and trading of mortgage securities.
"Another competing hypothesis would be there's been an increase in regulation and supervision," he said. That has affected the levels of profitability at financial firms. "Their capital is good. Their liquidity is good. They're very healthy. They're solid, but the return on equity is considerably lower now than it was prior to the financial crisis. So that probably also has some implications for job creation," he said.
In prepared remarks on the regional economy, Dudley said other industries in New York are making up for job growth on Wall Street. New York City has also shown faster job growth than other parts of the New York Fed's region, which includes New York state, New Jersey, Connecticut and Puerto Rico.
"In the past, the city has counted on job growth from Wall Street to fuel economic growth during recoveries and expansions. This time around, however, job gains in the securities industry have been meager," he said.
He said one noteworthy area is technology, including internet publishing, online shopping and scientific research and development. "Growth in these high-paying jobs is picking up much of the slack created by the softness of the securities industry," he said.