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
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
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
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
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
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 summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread 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
Wages and salaries for American workers rose more than 3 percent over the past year, the first time that threshold has been broken in more than 10 years, according to a Labor Department report Thursday.
The employment cost index, which the Bureau of Labor Statistics releases quarterly, showed a 3.1 percent gain in the wages and salaries component in the fourth quarter of 2018. That's up from 2.9 percent in the third quarter and tied for the biggest gain since the third quarter of 2008, just as worst of the financial crisis hit.
Overall, the employment cost index, which also includes benefits costs, rose 2.9 percent for the quarter, which also tied the highest level since the third quarter of 2008.
A release earlier this month from the BLS showed that real average hourly earnings, which take into account inflation, rose 1.1 percent for the year in 2018. Average weekly earnings climbed 1.2 percent.
Federal Reserve policymakers watch the employment cost index carefully for inflation pressures. A statement released Wednesday after this week's Federal Open Market Committee meeting indicated that "market-based measures of inflation compensation have moved lower in recent months" though "survey-based measures of longer-term inflation expectations are little changed."
The monetary policymaking committee voted not to increase the Fed's benchmark interest rate and said it would take a "patient" approach to future increases.