Home » Economy

Economy

Fitch: US-China trade war will get worse

Fitch: US-China trade war will get worse

The ongoing and rising trade dispute between the U.S. and China will get worse, an official from global ratings agency Fitch Ratings said Thursday. “There is every reason to believe that the ...

Read More »

Russia to impose tariffs on U.S. goods

Russia to impose tariffs on U.S. goods

Russia on Sunday started imposing additional import tariffs of 25-40 percent for a range of U.S. goods, according to the Russian government. Russian Prime Minister Dmitry Medvedev last month signed ...

Read More »

Wells Fargo: hundreds of customers lost homes because of computer glitch

Wells Fargo: hundreds of customers lost homes because of computer glitch

 Hundreds of people had their homes foreclosed on because software used by Wells Fargo incorrectly denied them mortgage modifications. The embattled bank revealed the issue in a regulatory filing this week and said ...

Read More »

India to impose tariffs on U.S. goods in September

India to impose tariffs on U.S. goods in September

India said on Saturday that delayed higher tariffs against some goods imported from the United States will go into force on September 18. New Delhi, incensed by Washington’s refusal to ...

Read More »

China to impose new tariffs on $60bn worth of imports from US

China to impose new tariffs on $60bn worth of imports from US

China has said it will impose new tariffs on $60bn worth of imports from the US, including aircraft and liquefied natural gas, in a rapid riposte to Donald Trump’s latest ...

Read More »

Trump plans to propose 25-percent tariff on $200 billion of Chinese goods

Trump plans to propose 25-percent tariff on $200 billion of Chinese goods

The Trump administration plans to propose slapping a 25-percent tariff on $200 billion (152 billion pounds) of imported Chinese goods after initially setting them at 10 percent, in a bid ...

Read More »

Now Trump wants to give rich people another $100 billion tax cut

Now Trump wants to give rich people another $100 billion tax cut

In a naked attempt to dole out favors to wealthy Wall Street buddies, former Goldman Sachs executive turned Treasury Secretary Steve Mnuchin is working on a scheme to implement a ...

Read More »

Treasury raises 2018 borrowing need to $1.33 trillion

Treasury raises 2018 borrowing need to $1.33 trillion

America’s funding needs are starting to grow at a dangerous pace. Even before the NYT reported of Trump’s startling suggestion of a further $100 billion tax cut in the form of an ...

Read More »

Facebook just shed $130 billion in two hours, Mark Zuckerberg lost $16.8 billion

Facebook just shed $130 billion in two hours, Mark Zuckerberg lost $16.8 billion

Facebook lost about $130 billion in market value in just two hours, its steepest stock decline ever, after warning of slowing sales growth. The stock, which remained down 20 percent in premarket ...

Read More »

1.1 million tonnes of US meat piles up as Trump tariffs damage exports

1.1 million tonnes of US meat piles up as Trump tariffs damage exports

Some 1.1 million tonnes of red meat and poultry are in cold storage facilities as of the end of May, as major destinations for meat exports implement counter-tariffs against the ...

Read More »