The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Shares of T. Rowe Price and other asset managers rose Thursday after the House Republican tax plan preserved popular retirement savings plans, including 401(k)s.
Shares of the company rose 1.8 percent Thursday after slipping about 4 percent over the past two weeks on fears that legislators in Washington were considering reforms to the popular savings plan.
Certain Republican lawmakers had toyed with the idea of cutting contribution limits to $2,400 as Congress looked to make up for other tax cuts. Rep. Kevin Brady, R-Texas, a top tax writer in the House of Representatives, said cuts to how much people can contribute were still on the table as recently as last week.
The GOP tax plan leaves current contribution limits in place, meaning $18,000 for 401(k) plans for 2017. Those 50 and over can contribute as much as $24,000.
Experts were concerned that lowering limits on pre-tax 401(k) contributions would indirectly encourage workers to save less for retirement. Most Americans already save too little for their retirement needs.
The Republican tax reform plan will also permanently lower the corporate tax rate to 20 percent.