As tensions might drag over the next decade, investors have to learn to operate under prolonged uncertainty, said Warburg Pincus' Charles Kaye.World Economyread more
Billionaire investor Howard Marks, the co-chairman of Oaktree Capital, predicts there won't be a recession in the U.S. for another two years.US Economyread more
Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
One person was killed and five others wounded on Thursday in a shooting on the streets of Washington, D.C., not far from the White House, police said.U.S. Newsread more
Stores are extending hours and cities are spending on light shows as China tries to encourage consumers to spend more money at night.China Economyread more
New research suggests fewer girls pursue careers in STEM — science, technology, engineering and math — because they're better than boys at reading.Closing The Gapread more
Stocks in Asia Pacific edged up in Friday afternoon trade as a series of developments overnight on the U.S.-China trade front dampened hopes of a deal being reached between...Asia Marketsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
Trump has criticized Facebook numerous times since becoming president, most recently posting on Twitter that the company's proposed digital currency, libra, will "have little...Technologyread more
Republicans and Democrats have long since separated themselves by ideology, leaving each more uniformly conservative or liberal than ever. And now a new data analysis by the...Politicsread more
The partial U.S. government shutdown entered its 21st day Friday, tying the record for longest lapse in federal funding.
The dubious distinction comes on the same day hundreds of thousands of U.S. workers start to miss paychecks. About 800,000 federal employees are either furloughed or temporarily working without pay as the closure persists.
Lawmakers have failed to fund nine departments, or about a quarter of the government, as President Donald Trump demands more than $5 billion to fund his proposed border wall. The president has threatened to veto legislation passed by the Democratic-held House to reopen the government temporarily, which has deterred the GOP-controlled Senate from passing it.
The funding lapse also has an economic cost. The lack of worker paychecks and the shutdown's potential effects on tax refunds, mortgage applications, food assistance programs and consumer sentiment could hit the U.S. economy to the tune of at least $2 billion a week, according to an estimate by Wells Fargo retail analysts. Meanwhile, S&P Global gave a "conservative" estimate that the closure had an economic effect of about $3.6 billion through Friday. The financial services company expects the shutdown to trim about 0.05 percent, or $1.2 billion, off quarterly GDP growth for each week that it goes on.
"If the partial government shutdown continues for two more weeks, our estimate of the total impact will be $6.0 billion, which would exceed the $5.7 billion in funding being requested to build a border wall," wrote Beth Ann Bovino, the U.S. chief economist for S&P Global Ratings.
The longest previous shutdown lasted three weeks during December 1995 and January 1996. It followed a budget spat between President Bill Clinton and House Speaker Newt Gingrich.
As it affects about a quarter of the government, the current shutdown disrupts fewer people than some previous funding lapses such as the 1995 closure. During other previous shutdowns, particularly in the 1970s, workers did not face furloughs.
Still, it could drag on much longer.
Talks to reopen the government crumbled this week. Trump on Thursday canceled his planned trip to the World Economic Forum in Switzerland later this month, signifying the closure could last for weeks more.