American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Not a single bank failed last year, a rare occurrence that highlights the strength of the U.S. banking system.
In fact, 2018 was the first year since 2006 and only the third since the Federal Deposit Insurance Corporation was founded in 1933 that a calendar year passed without a bank failure, according to the Calculated Risk blog.
Thanks to the U.S. economic expansion, corporate tax overhaul and post-financial crisis rules that bolstered safety, banks have been thriving. The six biggest U.S. lenders were on track to generate more than $100 billion in profit, an all-time record, according to Bloomberg.
But the smallest and most vulnerable institutions — those most likely to fail — seem to be benefiting as well. Just eight banks failed in 2017, and all were acquired by larger lenders.
Failing banks used to be a more common occurrence. The peak year for failures after the financial crisis was 2010, when 157 institutions collapsed. Before that, during the savings and loan crisis, the peak year for failures was 1989, when 534 lenders failed.
In a bank failure, regulators work to sell the lender's assets to another institution and the FDIC assumes responsibility for the rest.