The leaders of Japan and China got off to a tense start but have made significant progress in turning around their relations in recent years.Asia Politicsread more
Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Stocks in Asia slipped in Tuesday afternoon trade, while investors looked toward a meeting between U.S. President Donald Trump and Chinese President Xi Jinping set to happen...Asia Marketsread more
A week of dovish fireworks out of the central banking community has just gone by with most of the world's leading central banks now guiding towards easing in light of downside...Commentaryread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Chinese Vice Premier Liu He held a phone conversation with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China's Ministry of Commerce...World Economyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
U.S. President Donald Trump's senior adviser Kellyanne Conway will not testify before the House of Representatives Oversight Committee this week on her alleged violations of...Politicsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
PatientsLikeMe was bought by UnitedHealth following a review by Trump's Treasury Department, which scrutinized the start-up because it's backed by Chinese cash.Technologyread more
Though steelmaker stocks rose sharply after President Donald Trump announced steep tariffs on aluminum and steel from overseas, energy companies and pipeline makers will likely take a hit.
The U.S. oil and natural gas industry depends on specialty steel for many of its infrastructure projects, and U.S. steelmakers don't supply it, said Jack Gerard, the CEO of the American Petroleum Institute, a trade association for the industry.
"The actions taken today are inconsistent with the administration's goal of continuing the energy renaissance and building world-class infrastructure," Gerard said.
The administration said Thursday it would slap a 25 percent tariff on imported steel and 10 percent on imported aluminum, beginning next week.
Even before the announcement, opponents had voiced concerns that tariffs could raise prices for all kinds of consumer and commercial goods made from aluminum and steel.
There are also doubts that U.S. steelmakers would be able to handle higher volumes and produce all grades of steel necessary for industrial production.
The thickest energy pipelines use a grade of steel that is produced abroad. When President Trump signed an executive order approving the Keystone Pipeline last year, he made headlines by also mandating that steel for future pipelines will need to be "made in the USA."
At the time U.S. steelmakers said they had the capability to produce the steel, they just needed time to increase their output. They argued that foreign competition and anti-competitive trade practices have put them at a disadvantage for years.
"The real question is whether the U.S. steel industry has the capacity to supply every pipeline project in the United States," said Libby Toudouze, portfolio manager at Cushing Asset Management. "Let's say in 2017, 2018 we need 300 miles of pipeline, and the U.S. steel companies' maximum capacity could crank out 100 miles of pipe. It's not reasonable for us to hold up the 200 miles of pipeline because the U.S. guys can't scale to get there," she said.