US stocks rise to open big earnings week
Wall Street stocks rose early Monday as markets looked ahead to a heavy week of corporate earnings and monitored the positioning of political leaders on the US government shutdown. This week’s earnings calendar includes results from Netflix, Tesla and Procter & Gamble. A Factset analysis of earnings forecasts and results projected third-quarter growth of 8.5 […]
China sanctions five US units of South Korean ship giant Hanwha
China imposed sanctions on five American subsidiaries of South Korean shipbuilder Hanwha Ocean on Tuesday, accusing them of supporting a US government investigation into the shipping industry, as tit-for-tat port fees took effect. The United States announced in April it would begin applying fees to all arriving Chinese-built and operated ships after a “Section 301” […]
US federal workers apply for loans as shutdown hits military morale
Now into its second week, the US government shutdown has started impacting federal workers, prompting some to take out new loans to help make ends meet. Hundreds of thousands of federal employees have been furloughed since the shutdown began on October 1, while others deemed essential — including some military personnel — have been required […]
Amazon faces US trial over alleged Prime subscription tricks
Amazon goes to trial on Monday in a US government lawsuit that accuses the e-commerce giant of using tricks to enroll millions of customers in its Prime subscription service and then making it nearly impossible to cancel. The Federal Trade Commission’s complaint, filed in June 2023, alleges that Amazon knowingly used designs known as “dark […]
US to stop collecting emissions data from polluters
The United States moved on Friday to dismantle a “burdensome” federal program that tracks greenhouse gas emissions across the US economy, the latest step by President Donald Trump’s administration to undercut efforts against climate change. The Greenhouse Gas Reporting Program (GHGRP), launched in 2010, covers more than 8,000 facilities — including power plants, fuel suppliers, […]
Asian markets fluctuate ahead of expected US rate cut
Asian markets were mixed Monday as traders geared up for an expected interest rate cut by the Federal Reserve this week. Equities have enjoyed a strong run-up over recent weeks as a string of data on jobs and inflation provided the US central bank with enough leeway to resume its rate reductions. Wednesday’s policy decision […]
US ‘very close’ to TikTok deal with China: US Treasury chief
The United States is “very close” to a deal with China to settle their dispute over TikTok, US Treasury Secretary Scott Bessent said Monday as the two sides resumed trade talks in Madrid. Bessent and Chinese Vice Premier He Lifeng opened the latest round of discussions in Madrid on Sunday, seeking to narrow differences on […]
Trump’s pick for US Fed governor vows to uphold independence
Donald Trump’s pick to join the Federal Reserve’s board of governors pledged Thursday to uphold US central bank independence if confirmed, as the institution faces growing political pressure from the president to slash interest rates. “The Federal Open Market Committee is an independent group with a monumental task, and I intend to preserve that independence,” […]
Credit card fraud makes up over one-third of U.S. identity theft cases
Credit card fraud accounts for 36% of all identity theft reports in the U.S., with 420,498 total cases, a rate of 124 incidents per 100,000 residents. This forms part of a new study that reveals that credit card fraud is by far the most common type of identity theft in America. The analysis derives from GBG. The […]
US retail sales rise amid limited consumer tariff hit so far
US retail sales rose moderately in July, according to data released Friday, as markets monitor tariffs that do not so far appear to have significantly battered consumers. Overall sales climbed 0.5 percent to $726.3 billion from June, in line with expectations. Gains in motor vehicles and parts and furniture offset declines in electronics and building […]
