Global Economy

admin April 26, 2018

After a brief lull in the skirmishing, the trade battle between the United States and China is escalating once again. In the last 24 hours alone, the United States dealt a potentially crippling blow to a big Chinese tech company, Beijing hit out at a major American export crop, and President Donald Trump fired off […]

admin April 25, 2018

Congress is considering killing an Obama-era rule that protects Americans from discriminatory car loans. The Senate is expected to vote Wednesday on whether to repeal auto lending regulations aimed at ensuring that minority car buyers aren’t charged higher interest rates. Critics of the 2013 rule argue that the Consumer Financial Protection Bureau overstepped its authority, […]

admin April 25, 2018

The Supreme Court is considering a case that could force consumers to start paying sales tax on all of their online purchases. During arguments in South Dakota vs. Wayfair Tuesday, the justices debated whether online retailers must collect sales tax on purchases made even in states where they do not have a “physical presence,” say […]

admin April 25, 2018

President Donald Trump has renewed his attack on a huge Pacific trade pact just days after raising the possibility of the United States rejoining it. Trump wrote on Twitter late Tuesday that he thought the Trans-Pacific Partnership (TPP) didn’t represent a good deal for the world’s biggest economy. “While Japan and South Korea would like […]

admin April 25, 2018

President Trump and Republicans in Congress are setting the stage to make more low-income Americans work for benefits. But a growing number of states are already doing just that. Many of the states’ efforts focus on the food stamp program, which already requires some recipients to work. Currently, able-bodied adults ages 18 to 49 who […]

admin April 24, 2018

For Lori Stone, getting out of prison has always been a little nerve-racking. She’s been in and out of jail since she was 18. Every time she’s been released, she’s lost her disability benefits and her Medicaid coverage. That meant she couldn’t afford her rent or her medication for her bipolar disorder until she was […]

admin April 24, 2018

Big banks are raking in monster profits — and they can thank President Trump for their success. Trump’s corporate tax cuts helped fuel Wall Street’s blockbuster first-quarter results. Ditto for the recent market mayhem, which Trump played a starring role in at times. Morgan Stanley and Bank of America (BAC) both revealed record quarterly earnings […]

admin April 24, 2018

Congress just moved a step closer to gutting an Obama-era safeguard against discriminatory auto lending. The Senate voted 51 to 47 on Wednesday in favor of repealing regulations aimed at protecting minority car buyers from being charged higher interest rates. Overturning the rule still requires approval by the House and President Trump. Republicans championed the […]

admin April 24, 2018

The nine-year bull market might be on its last legs. Fifty-eight percent of global money managers surveyed by Bank of America Merrill Lynch think the stock market has already peaked or will later this year. Despite the market mayhem of recent months, the S&P 500 has quadrupled since its financial-crisis lowpoint in early 2009. Yet […]

admin April 24, 2018

A top Federal Reserve official is worried about a warning sign in the bond market. The yield curve, a measure of short-term and long-term US Treasury bond rates, is flattening as investors prepare for the Fed to raise interest rates to keep the economy from overheating. Some economists fear the curve could tip over and […]