"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
Gluskin Sheff's David Rosenberg reinforces his recession forecast following the Federal Reserve's September meeting.Futures Nowread more
"This would be the most profound violation of the presidential oath of office certainly during this presidency," House Intelligence Chair Adam Schiff said.Politicsread more
A 58% majority of registered voters express unease about voting for Trump, but slightly more say the same about Joe Biden and Bernie Sanders, while Elizabeth Warren fares only...Politicsread more
In a Worker Adjustment and Retraining Notification filed on August 5, the Pittsburgh-based company said it expects to let go fewer than 200 workers following its decision to halt production at the Michigan facility.
In mid-June, the company said it would idle two blast furnaces at its Great lakes and Gary Works plants, citing lower steel prices and softening demand.
U.S. Steel said the lay-offs at the Michigan plant could last beyond six months. They will impact nearly every area of the facility, from blast furnace to finishing operations, a company spokeswoman told Reuters.
The lay-offs call into question claims President Donald Trump has made about the resurgence of the domestic steel industry. Last week in Pennsylvania, Trump said his 25% tariff on foreign imports has turned a "dead" business into a "thriving" enterprise.
Domestic steel prices did rise in the immediate aftermath of Trump's tariffs. But they have fallen dramatically amid improved supplies and weakening demand from the auto and farm machinery sectors.
Prices of hot-rolled coil are down nearly 37% from their 2018 peak.
U.S. Steel's stock price has plunged 73% since March 1, 2018, when Trump announced his decision to crack down on foreign imports.
An official at the United Steelworkers union, which represents U.S. Steel workers, said lay-offs were also planned for the Gary Works facility in Indiana. U.S. Steel's spokeswoman, however, said the company "currently" doesn't expect "any employment level changes" at the Indiana plant.
The city of Gary and the state of Indiana have offered U.S. Steel a $47 million tax break package to help it invest $750 million in modernizing Gary Works, its largest North American plant.
The state's tax credits and worker training grants were tied to the condition that U.S. Steel retain at least 3,875 jobs at Gary Works.