"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Yields slipped after Powell said that the central bank will continue to act as appropriate to sustain the economic expansion.Bondsread more
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The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
Semiconductor stocks and shares of Apple slid on Friday after President Donald Trump said U.S. companies should "immediately start looking for an alternative" to their...Technologyread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
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(Adds quote, size of coal plants) NEW YORK, May 10 (Reuters) - New York environmental regulators adopted rules to reduce carbon dioxide emissions from power plants that will force generators to stop burning coal in the state by the end of 2020. New York Governor Andrew Cuomo, who has been highly critical of U.S. President Donald Trump's support for the coal industry, said in a statement on Thursday that state's new carbon reduction rules would deliver on his 2016 pledge to go coal-free "As our federal government continues to support the dying fossil fuel industry, deny climate change, and roll back environmental protections, New York is leading the nation with bold climate action to protect our planet and our communities," Cuomo said. Coal generated less than 1% of the electricity in New York in 2017, the most recent year available according to state and federal data. There are four coal-fired power plants in New York with a total capacity of around 1,640 megawatts, according to federal data. But only around 1,100 MW of coal-fired capacity was actually available for service, according to state data, since several units have not operated or burned coal in recent years due primarily to competition from cheap and abundant natural gas supplies. One megawatt can power about 1,000 U.S. homes. Those plants include units at Cayuga Operating Co's 302-MW
Cayuga plant, NRG Energy Inc's 520-MW Dunkirk and
Somerset Operating Co's 685-MW Somerset. NRG, which mothballed the Dunkirk plant in 2016, dropped a plan to convert it from coal to natural gas in 2018. In addition to the carbon rules, the New York State Department of Environmental Conservation proposed regulations earlier this year that would restrict nitrogen oxide (NOx) emissions from small natural gas-fired peaking power plants.
Cuomo said the emission control rules will help move the state closer to meeting the Green New Deal he announced in 2019, which requires the state's power to be 100 percent carbon-free The state has also mandated that 70%t of its electricity come from renewable sources by 2030. New York currently gets about 30 percent of its electricity from renewable sources, according to federal energy data.
(Reporting by Scott DiSavino in New York Editing by James Dalgleish and Marguerita Choy)