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
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
Home Depot's CEO said 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
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
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
Several big Pimco funds controlled by Ivascyn have reportedly been trimming their bond market positions in the U.K. and Europe.World Marketsread more
While Hong Kong leader Carrie Lam painted a bleak picture of the city's economy, she expressed hope that dialogue with protesters could provide "a way out."China Politicsread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
The Senate Finance Committee approved its tax reform bill, sending it to a full Senate where some Republicans are skeptical.
The panel voted along party lines late Thursday to advance the Republican proposal.
Committee Chairman Sen. Orrin Hatch, R-Utah, called the bill's advancement a "historic moment."
"Bringing our outdated tax structure into the 21st century will help level the playing field for businesses — both small and large — and ensure we can keep more jobs and more investment here at home," Hatch said in a statement.
The White House released a statement applauding the committee for advancing the bill.
Reiterating its call for passing the tax bill by the end of the year, the White House said, "This legislation cuts taxes for middle-income families and empowers American businesses to create more jobs, increase wages, and propel our economy toward a brighter future."
GOP Senate leaders hope the full Senate can pass the bill after the chamber takes a week off for Thanksgiving. But Republicans will face challenges in passing the bill when they return.
One GOP senator — Ron Johnson of Wisconsin — this week said he would oppose the bill as written. Multiple other GOP senators have also expressed doubts about the plan, creating uncertainty that it can pass only with the narrow Republican majority.
The GOP, which holds 52 seats in the Senate, can only see two defections and still pass the bill with a simple majority under special budget rules.
The bill would permanently chop the corporate tax rate to 20 percent from 35 percent, while making temporary changes to individual income tax rates and several deductions. It would also effectively repeal the Obamacare provision requiring most Americans to buy health insurance or pay a penalty.
Making individual tax cuts temporary and scrapping Obamacare's individual mandate help Republicans to raise revenue and comply with budget rules. But those moves raise the political stakes for supporting the bill.
Sen. Susan Collins, R-Maine, has already expressed concerns about the estimated health-care premium increases caused by the individual mandate repeal.