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
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
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
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Bryn Mawr Trust CIO Jeffrey Mills lists where to put money to work as Wall Street copes with trade war and recession jitters.Futures Nowread more
The announcement for Target also comes on the heels of a strong quarterly earnings report, where it showed it drove more people to stores and got them to spend more money...Retailread more
GM will effectively halt production next year at five plants in North America — in Ohio, Michigan, Maryland and Ontario — as well as two plants outside of North America.
The company also plans to cut 15 percent of its salaried workers. The cuts will eliminate more than 14,000 jobs in all, roughly 8,100 white-collar positions and more than 6,000 factory jobs, according to GM.
Overall, GM estimates the reorganization will save about $6 billion a year by the end of 2020.
"We are the hottest economy in the world right now," Kudlow said last month.
Trump also praised General Motors last year, saying the automaker was "starting the big jobs push back into the U.S." Trump had pledged to revive manufacturing in an Ohio region where GM now plans to slash production and layoff workers.
"Jobs have left Ohio," Trump said in 2017, but "they're all coming back."
GM plans to cut as many as 1,600 factory jobs at a Lordstown, Ohio, plant — 20 miles away from where Trump spoke when he promised to return jobs to the area.