Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
Sterling fell half a percent on Monday as fears grew that the prickly Irish border issue and disagreements within the UK ruling party over Brexit would see Prime Minister Theresa May face a serious challenge to her leadership.
The Telegraph newspaper's deputy political editor said the DUP, the Northern Irish party which props up British Prime Minister Theresa May, will back an amendment proposed by rebel Brexiteer lawmakers that will effectively make the European Union's backstop proposal illegal.
The news follows reports in Sunday newspapers quoting unnamed lawmakers saying May should prepare for a challenge to her leadership.
"(The DUP report) is just reinforcing the negative sentiment towards the pound. On the weekend we saw increasing concern over political instability in the UK and the threat of another leadership challenge back on the table," said Lee Hardman, FX strategist at MUFG in London.
Hardman said he still expected a deal eventually to be struck over Brexit but added: "The path to a deal seems to have become a bit harder."
By 1230 GMT, sterling was down 0.5 percent, having hit a low of $1.2982, its weakest since Oct. 4. Against the euro too, the pound extended losses, falling 0.4 percent/
Jittery markets are now awaiting May's speech to parliament at which she is expected to say that 95 percent of the Brexit divorce deal has been settled. But she will maintain opposition to the European Union's proposal for the land border with Northern Ireland.
However, her proposal to extend a status-quo transition period beyond the current proposed date of December 2021 has angered the eurosceptics in her party
Prominent Brexiteer Steve Baker, a former junior Brexit minister, will try to block the EU's backstop plan on Wednesday by attaching amendments to legislation passing through parliament that would effectively make the proposal illegal. Forty Tory lawmakers as well as the DUP are likely to support it, the Telegraph reported.
"(The leadership challenge issue) is hanging over sterling, which is (also) waiting for another steer on Brexit, likely from this address from May today." Investec economist Victoria Clarke said. May is due to speak at 1430 GMT.
Ireland too weighed in, with its foreign minister telling the Irish Times that an extended transition period could not be an alternative to a "backdrop" agreement.
Late last week Brexit optimism, alongside a paring of dollar long positions, saw short sterling bets fall to a net 50,353 contracts, versus more than 60,000 the week before, calculations by Reuters and the Commodity Futures Trading Commission showed.