The U.S. economy is in a “favorable place” and the Federal Reserve will “act as appropriate” to keep the current economic expansion on track, Fed chair Jerome Powell said on Friday in remarks that gave few clues about whether the central bank will cut interest rates at its next meeting or not.
Sales of new U.S. single-family homes sank more than expected in July, a sign that the housing market continued in low gear despite lower mortgage rates and a strong labor market.
China unveiled on Friday retaliatory tariffs against about $75 billion worth of U.S. goods, putting an additional 10% on top of existing rates in the latest tit-for-tat exchange in a protracted dispute between the world’s top two economies.
The head of a broad coalition of Japanese, German and South Korean automakers warned on Friday that renewed punitive Chinese tariffs on U.S. autos would hurt U.S. vehicle exports to China and put U.S. jobs at risk.
U.S. stocks fell on Friday after China threatened to impose additional tariffs on $75 billion worth of U.S. goods, ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell.
Billionaire industrialist David Koch, a driving force behind conglomerate Koch Industries who as one of the world’s richest people became a major financier of conservative causes and political candidates, has died at age 79, his brother said on Friday.
White House trade adviser Peter Navarro said on Friday he does not believe the trade war in China will cause higher prices or a slower economy in the United States.
Billionaire industrialist David Koch, a former executive vice president of conglomerate Koch Industries and a major backer of conservative causes and political candidates, has died, his brother said on Friday.
Russia opened a showroom on Friday selling its first post-Soviet luxury limousine under the Aurus brand, a type of car used by President Vladimir Putin at his inauguration last year.
China unveiled on Friday retaliatory tariffs against about $75 billion worth of U.S. goods, marking the latest escalation of a protracted trade dispute between the world’s two largest economies.
A London judge ordered on Friday the confiscation of bitcoin and other digital currencies worth nearly $1 million from a prolific computer hacker, in the first case of its kind for Britain’s biggest police force.
Volkswagen AG said Friday it is recalling 679,000 U.S. vehicles sold since 2011 that could roll away because of an electrical issue.
U.S. stocks futures fell sharply on Friday after China said it would impose tariffs on about $75 billion worth of U.S. goods.
World stock markets and the dollar rose on Friday as investors looked to a speech by Federal Reserve chair Jerome Powell for clarification on whether the U.S. central bank remains on course to deliver another interest rate cut in next month.
Deutsche Bank has agreed to pay more than $16 million to settle charges that it violated U.S. corruption laws by hiring relatives of foreign government officials in order to win or retain business, the U.S. regulator said in a statement.
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