Powell stressed the central bank's independence in a speech Tuesday that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
Melania Trump said in a tweet that she is "excited to have Stephanie working for both sides of the @WhiteHouse."Politicsread more
Acting Customs and Border Protection Commissioner John Sanders will resign amid furor over the Trump administration's treatment of migrant children.Politicsread more
Investors are piling into gold, sending the precious metal to a six-year high, and analysts think the commodity has established a base to go even higher.Marketsread more
More than 300 companies are talking to government officials in Washington about the how detrimental the trade war is.Marketsread more
The Conference Board, a business research group, on Tuesday released the June update for its consumer confidence index.Economyread more
Massachusetts Institute of Technology President L. Rafael Reif warned the MIT community of "serious long-term costs" to in an email to the school community Tuesday.Technologyread more
These are the stocks posting the largest moves midday.Market Insiderread more
The yield on the benchmark 10-year Treasury note fell below 2% on Tuesday as investors looked for safety following the release of much weaker-than-expected confidence data.Bondsread more
Trump slams Iran on Twitter for issuing a "very ignorant and insulting statement" after the U.S. slapped fresh sanctions on Tehran.Politicsread more
Investors plow into the precious metal amid the prospects for lower interest rates, a softer global economy and increased geopolitical tensions.Marketsread more
The Trump administration announced a plan that could put additional restrictions on foreign investment in U.S. companies.
The Treasury said Wednesday it is expanding the power of a federal panel to review foreign investments beyond takeovers and controlling stakes to include noncontrolling stakes in U.S. businesses that are involved in technology that could be deemed critical to national security. The expanded review includes transactions in which the foreign investor would get nonpublic technical information, a place on the board of directors, or involvement in decision-making.
This applies to businesses in several industries, including telecommunications, semiconductors and computers.
The move is yet another bid to punish Beijing over its trade practices, The New York Times reported on Wednesday.
Already this federal panel, called the Committee on Foreign Investment in the United States, or Cfius, has been actively reviewing foreign takeovers of U.S. companies to make sure national security concerns are protected. Earlier this year, Cfius blocked Singapore-based Broadcom's attempted takeover of U.S.-based chipmaker Qualcomm.
The Trump administration has been trying to prevent China from getting emerging technologies such as 5G, the next generation of wireless. President Donald Trump has been critical of China's trade practices, which he says restrict access to certain markets and force American firms doing business there to hand over valuable technology and trade secrets.
This comes on top of tariffs the U.S. has slapped on some $250 billion of Chinese imports. China has retaliated with its own set of tariffs on U.S. goods.
Trump had considered putting a set of sweeping investment restrictions on China but decided to go along with a plan to grant Cfius broader review power, a win for Treasury Secretary Steven Mnuchin, who had been working behind the scenes to diffuse the trade spat, the Times reported.
Read the Times story here.