Stocks opened lower on Friday after China said it will slap new tariffs on U.S. goods.US Marketsread more
Powell repeated his pledge Friday to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
China says the new tariffs will begin Sept. 1 and Dec. 15. That's when President Trump's latest tariffs on Chinese goods are to take effect.Marketsread more
One area that has been raising alarm bells is the market's growing expectation that inflation will go lower and lower, and stay there for a long time.Market Insiderread more
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The idea came up as the White House brainstorms on ways to avoid a preelection economic slowdown, The Washington Post reports.US Economyread more
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Google on Friday released a new set of community guidelines that are meant to crack down on what employees can say inside the company.Technologyread more
Emails between Facebook employees from 2015 illustrate early actions the company took to investigate third-party use of their data.Technologyread more
Andrew McCabe filed a lawsuit alleging that his removal was part of a scheme by President Donald Trump to remove government employees "because they were not politically loyal...Politicsread more
Puerto Rico's situation could get worse without Congress' help, said Raul Maldonado, the island's Treasury secretary.
In a phone interview with CNBC.com, Maldonado said Puerto Rico's government will run out of money by the end of the month if the U.S. legislature does not send emergency funds its way.
The cash shortage would lead to a government shutdown and would hinder Puerto Rico's efforts to aid its residents after Hurricane Maria ravaged the island.
"If we don't get the help we need, this will be a national disaster," Maldonado said. "We're not looking for a handout; we're just looking for some help to get back on our feet."
Maria, a Category 4 storm, left most of Puerto Rico's 3.4 million residents without electricity and water and destroyed the homes of thousands. It also took out much of the island's telecommunications infrastructure.
Puerto Rico was already dealing with a massive financial crisis before the hurricane hit it. The island holds more than $70 billion in debt in part because of years of government overspending.
Puerto Rico also has been contending with a dwindling population in recent years, reducing its tax base. The island's population shrank 8.4 percent between 2010 and 2016, according to the U.S. Census Bureau. The mass exodus from Puerto Rico could accelerate after Hurricane Maria hit the island two weeks ago.