Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
The U.S. goods and services deficit with its global trading partners fell to $49.4 billion in February, its lowest level since June 2018 and well below estimates, the Commerce Department reported Wednesday.
Economists surveyed by Dow Jones expected the U.S. trade deficit in February to increase to $53.8 billion from $51.1 billion in January.
The decline was due in large part to a 28.2 percent decrease in its goods deficit with China as exports to the nation surged. Exports to China rose $1.6 billion to $9.2 billion while imports fell $1.5 billion to $39.3 billion. That brought the total deficit with China to $30.1 billion.
The report helped boost the view of Wall Street economists on first-quarter GDP growht, which now likely will come in above 2 percent.
Overall, exports for the month rose $2.3 billion to $209.7 billion, while imports increased $600 million to $259.1 billion.
On a year-to-date basis, the goods and services deficit fell 7.6 percent, or $8.3 billion, from the same period in 2018. Exports rose $11.1 billion, or 2.7 percent, while imports increased $2.8 billion, or 0.5 percent.
The move comes amid hopes that contentious trade negotiations between the U.S. and China soon will be resolved. The U.S. last year slapped tariffs on $250 billion worth of Chinese goods, prompting Beijing to institute its own duties against $110 billion worth of American imports.
Washington also has been engaged in trade talks with Japan. The deficit with that nation rose to $6.7 billion for the month, a 24 percent increase.
President Donald Trump has made reducing the trade deficit a cornerstone of his economic program. The imbalance hit a record $59.9 billion in December.
Exports rose in good part due to a surge in civilian aircraft orders, which showed a $2.2 billion increase, or 60.5 percent, from January. Semiconductors also rose more than 9 percent.
The report did not offer "particularly compelling reasons to be upbeat about economic prospects this year, but the figures do at least confirm that net trade will provide a substantial positive contribution to first-quarter GDP growth, which we now think was 2.0% annualized," Michael Pearce, senior U.S. economist at Capital Economics, said in a note.
Indeed, J.P. Morgan raised its first-quarter view on GDP to 2.5 percent from 2 percent.