Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread 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
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"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
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
fast track@ (Updates with supreme court agreeing to hear case)
SAN JUAN, Aug 5 (Reuters) - Puerto Rico's supreme court agreed on Monday to hear a lawsuit filed by the bankrupt U.S. territory's Senate president seeking to remove newly installed Governor Pedro Pierluisi from office on constitutional grounds.
The high court put the litigation on the fast track, ordering all parties to submit their arguments by midday on Tuesday.
Pierluisi, 60, was hand-picked by his predecessor, Governor Ricardo Rossello, as secretary of state, making him first in line for governor when Rossello resigned on Friday.
After his nomination was confirmed by the Puerto Rico House, Pierluisi was sworn in as governor on Friday, even though the Senate had yet to ratify the appointment.
The Senate was to meet in a special session later on Monday.
"If the Senate decides to take any type of voting action on my governorship, I will respect the result of such vote," Pierluisi said in a Twitter message on Monday.
If Pierluisi steps aside, Justice Secretary Wanda Vazquez would become governor.
Senate President Thomas Rivera Schatz initially filed his lawsuit on Sunday in a San Juan court, asking for an injunction ordering Pierluisi "to cease and immediately" give up the office and functions of governor.
The lawsuit contends that Pierluisi's swearing-in was void because the U.S. territory's constitution requires him to have fully taken the position of secretary of state before Rossello's resignation in order for him to become the new governor.
"That has still not happened yet because the Senate of Puerto Rico has not finalized its constitutional responsibility for advice and consent for such an appointment," it added.
Separately, San Juan Mayor Carmen Yulin Cruz petitioned the high court to end the "unconstitutional exercise of the Puerto Rico governorship."
Pierluisi said on Monday that he was sworn in as secretary of state when both legislative chambers were in recess, giving him "full possession" of the post under law.
He said he was properly sworn in as governor under Puerto Rico's constitution and a 2005 law that Schatz's lawsuit claims is unconstitutional.
Pierluisi's appointment has been controversial mainly because he formerly gave legal advice to the island's unpopular, federally created board supervising its finances, including its bankruptcy cases in federal court.
His installment as governor capped a week of political chaos after Rossello said he would resign over offensive chat messages that drew around a third of the island's 3.2 million people to the streets in protest.
The chats between Rossello and top aides took aim at female politicians and gay celebrities like Ricky Martin, and also poked fun at ordinary Puerto Ricans.
Publication of the messages unleashed local anger building for years over the island's painful bankruptcy process, ineffective hurricane recovery efforts and corruption scandals linked to a string of past governors, including Rossello's father. (Reporting by Luis Valentin Ortiz in San Juan; additional reporting by Karen Pierog in Chicago; editing by Andrew Cawthorne and Dan Grebler)