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Finance

Moore was an adviser to Trump's campaign and published a book " Trumponomics: Inside the America First Plan to Revive Our Economy ", heralding the president's tax cuts and deregulation push. This approach, Moore has argued, would have prevented the Fed from raising rates as much as it has. Meanwhile, Wednesday's (March 20th) rate decision had also been triggered further questions among analysts whether there would an interest rate cut this year, amid an economy which appeared to have ...
  • Complaint: Ocasio-Cortez's chief of staff ran $1m slush fund

    Complaint: Ocasio-Cortez's chief of staff ran $1m slush fund

    Finance

    First reported by conservative news outlets, the Washington Post followed up with report Tuesday that said that the arrangement was a "sharp juxtaposition" with Ocasio-Cortez's calls for transparency in politics, noting that the congresswoman has called dark money "the enemy to democracy".
  • Brexit: Prime Minister Theresa May Accused of 'Bribe' Over New Fund

    Brexit: Prime Minister Theresa May Accused of 'Bribe' Over New Fund

    Finance

    Brussels was represented by top Brexit negotiator Michel Barnier, whilst Brexit Secretary Stephen Barcley and Attorney General Geoffrey Cox attended for the UK. She said: "After decades of neglect a one-off payment created to help the Prime Minister ahead of a key Brexit vote will fail, and it will confirm to people in our towns that the government is not serious in its commitment to our communities".
  • Gap and Old Navy to Split, Create Two Separate Companies

    Gap and Old Navy to Split, Create Two Separate Companies

    Finance

    The San Francisco-based company said the spin-off will enable each company to focus on flexibility and pare down costs. The two companies will trade under different ticker symbols and have separate management and leadership structures, as well as distinct financial profiles, company executives said.
  • Fed Chair: Timetable for Ending Balance Sheet Reduction Close

    Fed Chair: Timetable for Ending Balance Sheet Reduction Close

    Finance

    Amid signs of a global slowdown, the Fed chair said the US financial system is "so much more resilient and stronger than before the financial crisis", dampening concern that the USA will face another recession like 2008. He said he would closely watch emerging risks, including a slowdown in growth in China, Europe and elsewhere, and a severe bout of instability that hit the stock market in the final three months of a year ago.
  • Tesla Will Close Many Of Its Stores And Switch To Online Sales

    Tesla Will Close Many Of Its Stores And Switch To Online Sales

    Finance

    The electric carmaker on Thursday launched a Model 3 at a before-savings price of $35,000. The Standard Range Plus , which will cost $37,000 (£28,000), features 240 miles of range, a 140mph top speed, and a 0-60mph time of 5.3secs. Tesla is still a long way from fully releasing its cars' full open-source programs and Linux operating system code, but it's on its way. Over the next few months, we will be winding down many of our stores, with a small number of stores in high-traffic locations ...
  • Amazon Drops Plans For New York Headquarters

    Amazon Drops Plans For New York Headquarters

    Finance

    NY state reportedly provided Amazon with almost $3 billion in state and city incentives for the deal, which would have created more than 25,000 jobs. Amazon had planned to have 700 employees in NY as part of the HQ2 project by the end of the year and did not plan to hit 25,000 in Queens for 10 years.
  • Jody Wilson-Raybould resigns from federal cabinet

    Jody Wilson-Raybould resigns from federal cabinet

    Finance

    The ethics investigation is the fifth one involving the Trudeau cabinet. Mr Trudeau has denied the report . SNC-Lavalin is facing allegations that former executives paid bribes to win contracts in Libya under Muammar Gaddafi's regime, which fell in 2011.
  • Theresa May heckled as she denies 'running down the clock' on Brexit

    Theresa May heckled as she denies 'running down the clock' on Brexit

    Finance

    But so far European Union officials have refused to make any changes to the agreement, leaving Ms. However, it seems most MPs will now wait until the end of the month, mindful that amendments are unlikely to win enough support this time given Conservative MPs are minded to give May another couple of weeks to talk to the EU.
  • Amazon rethinks plan for New York HQ amid fierce opposition, report says

    Amazon rethinks plan for New York HQ amid fierce opposition, report says

    Finance

    Amazon also selected Nashville to host a 5,000-person "center of excellence" for its operations business. Reached for comment, an Amazon spokesperson simply reiterated that it is committed to engaging with its "new neighbors". The HQ2 project has actually split the city's labor movement. But Stuart Appelbaum of the Retail, Wholesale and Department Store Union, said Amazon had failed to address concerns voiced about the plan .
  • Jeff Bezos accuses the National Enquirer of 'extortion and blackmail'

    Jeff Bezos accuses the National Enquirer of 'extortion and blackmail'

    Finance

    After the tabloid published a story about his extramarital affair last month, Bezos ordered a team of private investigators to get to find out how the Enquirer obtained lurid texts between him and former TV anchor Lauren Sanchez . The White House did not immediately respond to a request for comment. In his post on Medium , Bezos called his ownership of The Post "a complexifier" for him.
  • Google's Parent Company Announces Quarterly and Annual Earnings

    Google's Parent Company Announces Quarterly and Annual Earnings

    Finance

    Yet Alphabet continues to deliver strong top-line growth, which is impressive considering that its revenue base was $137 billion past year. A booming digital advertising market lifted Google's fourth-quarter advertising sales by a fifth and helped Alphabet, its parent, to beat Wall Street's profit and revenue forecasts last night.
  • GM begins layoffs with 4,300 white-collar workers mostly in U.S.

    GM begins layoffs with 4,300 white-collar workers mostly in U.S.

    Finance

    At the time of the announced restructuring, GM had about 2,000 salaried employees in Canada as part of about 50,000 salaried workers in North America. Industry trade journal Automotive News learned the lay-offs are part of an on-going restructuring effort envisioned as a way to make GM a leaner, more efficient, and more profitable company.
  • British PM May says she will seek 'pragmatic' Brexit solution in Brussels

    British PM May says she will seek 'pragmatic' Brexit solution in Brussels

    Finance

    In an article for the Sunday Times , Simon Coveney, the Deputy Prime Minister of Ireland, wrote: "The EU will not renegotiate the withdrawal agreement and there will be no withdrawal agreement without the backstop". "That is what Parliament instructed me to do on Tuesday night", May said asserted. Several rebellious centrist Labour MPs, who want a soft Brexit or to stay in the European Union, are mulling forming a new party, according to Sunday's Observer.
  • Facebook reports strong Q4 earnings despite year of troubles

    Facebook reports strong Q4 earnings despite year of troubles

    Finance

    The monthly active users (MAUs) increased 9 percent year-over-year to 2.32 billion as of December 31, 2018, while daily active users (DAUs) witnessed the same 9-percent growth to 1.52 billion during the same period, Facebook said. But it has also been battered by criticism that it was more focused on growth than protecting users or thwarting deception, bullying and harassment.
  • Fed Shifts to 'Patient' Policy on Rate Hikes

    Fed Shifts to 'Patient' Policy on Rate Hikes

    Finance

    Other possibilities range from the timeworn -- Powell knows something scary about the world economy, of which investors are blissfully unaware -- to the more timely: He has a penchant for wrong-footing financial markets, in both directions.
  • India’s unemployment rate highest in 45 years

    India’s unemployment rate highest in 45 years

    Finance

    The controversy gained momentum after NSSO's acting chairman PC Mohanan and member JV Meenakshi quit with both having a year left in their term. To compare, the unemployment rate in the country had gone down to 2.2 per cent in 2011-12, according to NSSO data.
  • Will the United States and China finally agree a trade deal?

    Will the United States and China finally agree a trade deal?

    Finance

    If confirmed that would be right around the time Trump is slated to meet North Korean leader Kim Jong-un for nuclear talks. The US and China may hold two more rounds of talks before the trade war truce period expires on March 1, a diplomatic source told the SCMP , as both sides fight to avoid a deepening of tensions.
  • United States unseals indictments against China's Huawei and CFO Wanzhou

    United States unseals indictments against China's Huawei and CFO Wanzhou

    Finance

    Huawei had done business in Iran through a Hong Kong company called Skycom and alleged that Meng misled U.S. banks into believing the two companies were separate, according to prosecutors. On Tuesday, US intelligence officials are expected to cite 5G investments by Chinese telecom companies, including Huawei , as a worldwide threat. At the heart of the case against Huawei is the claim that the company misled regulators about its business dealings with Iran, with Meng allegedly playing a ...
  • Facebook profited from kids through 'friendly fraud', memo says

    Facebook profited from kids through 'friendly fraud', memo says

    Finance

    Staff at Facebook created a method that would have reduced the friendly-fraud problem on the platform, but the company did not implement it. According to newly unsealed court documents, Facebook's was aware of children blindly throwing away their parent's money on Facehook-connected games, thought of a solution, but then chose to do nothing because it would slow down revenue.
  • Oil up on Venezuela turmoil despite surging USA supply

    Oil up on Venezuela turmoil despite surging USA supply

    Finance

    But that's all expected to change this year as gasoline stockpiles surge, and a shortage of heavy crude from Venezuela wouldn't make refiners' lot any easier. Another consideration is whether Washington freezes the Venezuelan leadership's assets or alters the U.S. -Venezuela commercial relationship in other ways, Grais-Targow notes.
  • Stop-gap measure brings temporary end to government shutdown — IN Focus

    Stop-gap measure brings temporary end to government shutdown — IN Focus

    Finance

    That could set the tone for skirmishes ahead, including investigations that the Democratic-led House, armed with subpoena power, plans into Trump's businesses and his 2016 presidential campaign's connections to Russian Federation. Patrick Leahy of Vermont, Richard Durbin of IL and Jon Tester of Montana. Democratic Senator Mark Warner and Republican Senator Rob Portman have introduced separate bills to prevent future shutdowns.
  • Venezuela's Maduro rejects call for elections amid mounting pressure

    Venezuela's Maduro rejects call for elections amid mounting pressure

    Finance

    Spain , Britain , France, Netherlands and Germany warned on Saturday they will recognise Guaido as interim president unless Maduro calls elections within eight days. "The United States always retains the right - always, anywhere in the world in any instance - to protect its national security", he said. While the council debated, Venezuela's military attache in Washington posted a video saying he had broken with Maduro and now would report to Guaido.
  • Microsoft says Bing has been blocked in China

    Microsoft says Bing has been blocked in China

    Finance

    Google exited the Chinese market in 2010 but was reported to be developing a censored search engine that could get it back into the country. Chinese Internet users posted on social networking information that are unable to access the website cn.bing.com, while users outside the country can still get access to this version of the site.
  • BuzzFeed to cut 15 percent of its staff

    BuzzFeed to cut 15 percent of its staff

    Finance

    The 45-year-old told employees that a restructuring of the company "will reduce our costs and improve our operating model so we can thrive and control our own destiny, without ever needing to raise funding again", and said the changes "will allow us to be the clear victor in the market" of digital media.
  • Canada Backs Venezuelan Opposition Leader As Interim President

    Canada Backs Venezuelan Opposition Leader As Interim President

    Finance

    The U.S. official spoke on condition of anonymity out of security concerns. Maduro, in a fiery speech on Wednesday, said he was cutting off diplomatic relations with the United States for instigating a "coup" against him. Attention was focused on Venezuela's military, a traditional arbiter of political disputes in the country, as a critical indicator of whether the opposition will succeed in setting up a new government.
  • Linked contractors swoop in to guard Venezuela's Maduro

    Linked contractors swoop in to guard Venezuela's Maduro

    Finance

    The Pentagon's negligible role in Venezuela contrasts sharply with the situation in the 1960s and '70s, when the oil-rich nation was a major US military partner and an important customer for sophisticated USA weaponry including F-16 fighter jets, said Evan Ellis, an expert in U.S.
  • The Times view on China's slowdown in economic growth: Chinese Medicine

    The Times view on China's slowdown in economic growth: Chinese Medicine

    Finance

    The 6.6 per cent is above the official target of around 6.5 per cent, according to the data published the NBS. The demographics stand to fuel concerns about China's economy, which is on a long-term slowing trajectory even as signs of stabilisation suggest efforts to cushion its deceleration are taking hold.
  • French watchdog slaps Google with $57M fine under new European Union law

    French watchdog slaps Google with $57M fine under new European Union law

    Finance

    The French regulator said the world's biggest search engine lacked transparency and clarity in the way it informs users about its handling of personal data and failed to properly obtain their consent for personalized ads. "Following the introduction of GDPR, we have found that large corporations such as Google simply "interpret the law differently" and have often only superficially adapted their products".
  • Oil hits two-month high as China truce signals brighter outlook

    Oil hits two-month high as China truce signals brighter outlook

    Finance

    The International Energy Agency said that U.S. oil production growth combined with a slowing global economy would put oil prices under pressure. Ashton Whiteley analysts say the OPEC-led cuts may offer only a temporary reprieve as global demand and the threat of oversupply provide the biggest risk to oil prices.
  • Cadillac shows off its nameless-for-now first full electric

    Cadillac shows off its nameless-for-now first full electric

    Finance

    GM's future EV platform, which Cadillac is the first to utilize, will be flexible, with a relatively short design and development lead time. Going forward, General Motors will make Cadillac its " lead electric vehicle brand ". Along with the electric vehicle renderings, Cadillac also played a computer animation depicting its vision for a future autonomous SUV with a steering wheel that folds away into the dashboard.
  • Brexiteer Nigel Farage: If Second Referendum, 'No More Mr. Nice Guy'

    Brexiteer Nigel Farage: If Second Referendum, 'No More Mr. Nice Guy'

    Finance

    The Bill aims to force the Government to extend Article 50 if a Brexit deal is not reached, according to The Telegraph . The plan includes €50m (£44m, $57m) of investments to help ports and airports cope with new tariffs and trading terms in the event that the United Kingdom leaves the European Union on 29 March without an agreed deal and transition period.
  • U.S. shutdown: Trump to sign off on back pay for federal workers

    U.S. shutdown: Trump to sign off on back pay for federal workers

    Finance

    We're going to keep lifting up the voices of those who are impacted by President Trump and Republican Senators' shutdown. But that may provide little relief for government employees, some of whom are being asked to come back to work after being initially furloughed and told to stay home, although they will not be paid on schedule.
  • China's trade surplus with United States hits record high

    China's trade surplus with United States hits record high

    Finance

    Customs data showed that Chinese exports rose 11.3 percent in 2018 to $478.4 billion, while imports from the U.S. only rose by 0.7 percent. Even though export growth was the highest since 2011, last year's overall Chinese trade surplus fell to the lowest level since 2013.
  • Ocasio-Cortez Hits Back After Trump Questions ‘Who Cares’ About Her Comments

    Ocasio-Cortez Hits Back After Trump Questions ‘Who Cares’ About Her Comments

    Finance

    The powerful committee also oversees the US housing market, insurance and global finance sectors, among other areas. Representative Maxine Waters, a California Democrat, will lead the financial services panel. Asked at the White House to respond to her, Trump shook his head, waved dismissively and grimaced: 'Who cares?' Per Bloomberg , those names include Alexandria Ocasio-Cortez (N.Y.), Rashida Tlaib (Mich.), Katie Porter (Calif.) and Tulsi Gabbard (Hawaii).
  • UK Parliament votes down PM May's EU divorce deal by 230 votes

    UK Parliament votes down PM May's EU divorce deal by 230 votes

    Finance

    London Chamber of Commerce and Industry chief executive Colin Stanbridge said: 'The adverse impact of the uncertainty is nothing compared to the economic disaster that will ensue if this country leaves the European Union without a deal. " The time has now come for all of is in this House to make a ... a decision that each of us will have to justify and live with for many years to come".