Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
Target CEO Brian Cornell still thinks the U.S. consumer is strong and spending. Target's latest quarterly results showed the big-box retailer is benefiting from that.Retailread more
"If you look at the market over the past week, stocks don't need any help. They are roaring ahead, without the Fed doing anything," says the longtime market strategist.Marketsread more
Stocks rose on Wednesday as strong quarterly results from retailers such as Target and Lowe's lifted investor sentiment.US Marketsread more
President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
Trading volumes this week are well below recent averages, and that means this comeback may be suspect.Marketsread more
Shares of Tesla slid Wednesday on news of Walmart's lawsuit.Technologyread more
The rule could defy a 2015 Flores Settlement Agreement court order that says families cannot be held in detention for more than 20 days.Politicsread more
A key indicator for the commercial real estate market is showing signs of weakness, and uncertainty in the economy over the trade war and interest rates may be to blame.Real Estateread more
Bank of America CEO Brian Moynihan is not worried about an economic slowdown, saying the U.S. consumer is still in a strong place.Banksread more
Martin bid -source@ (Adds quote, details, background)
OTTAWA, May 9 (Reuters) - Canada is changing the rules of its multibillion-dollar competition for 88 new fighter jets to allow Lockheed Martin Corp to submit a bid, a Canadian government source said on Thursday.
The source, who requested anonymity given the sensitivity of the situation, said Ottawa was acting after the United States complained the original rules would exclude Lockheed Martin's F-35 fighter, the plane the Canadian air force wants.
Canada initially said bidders for the contract - worth between C$15 billion and C$19 billion ($11.1 billion-$14.1 billion) - must commit to give Canadian businesses 100 percent of the value of the deal in so-called economic benefits. But that contradicts rules of the consortium that developed the F-35 fighter, a group of which Canada is a member.
The source said Ottawa would drop the requirement that firms give a legally binding guarantee they would spend the money in Canada. The planes will be judged on three criteria - capability, price and benefits.
"A bidder that is not willing and able to sign a contract and guarantee them (the benefits) can still bid and still be competitive but they will get less points in the economic benefits category" than firms that do offer a watertight commitment, said the source.
The U.S. military's F-35 office wrote to Ottawa last December to say the plane would not take part in the competition unless Canada dropped the demand for benefits. (Reporting by David Ljunggren; Editing by Peter Cooney)