Month: August 2019

Like famed economist John Maynard Keynes, Modern Monetary Theory advocates think government has an important role in offsetting what happens when demand falls short of what’s needed to keep everyone who wants a job employed. They draw also on the ideas of Hyman Minsky, who was best known for his work on financial bubbles but also noted what he felt was the inherent tendency of market systems to fall short of full employment. MMT proponents also have a distinct view about the demand for money dra

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U.S. stocks slipped on Wednesday, as investors reeling from rising trade tensions fled riskier assets for perceived safer havens, leading the bond market to price in a slide into recession.

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FedEx Corp confirmed on Wednesday it would terminate its contract with Amazon.com Inc for small-package ground deliveries, as the online retailer focuses on building out its own delivery network.

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The White House Office of Management and Budget is slated on Wednesday to release an interim rule for a ban on federal purchases of telecommunications equipment from five Chinese companies, including Huawei, a senior administration official said.

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U.S. President Donald Trump on Wednesday said his tough stance on China’s behavior in global markets would ultimately benefit the American economy, even as Beijing signaled it could strike back by curbing sales of critical chemicals known as rare earths.

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Oil prices tumbled up to 5% on Wednesday to a fresh seven-month low, extending recent heavy losses following an unexpected build in U.S. crude stockpiles and fears of lower crude demand due to deepening U.S.-China trade tensions.

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General Motors Co persuaded the federal judge who oversees nationwide litigation over defective ignition switches to narrow claims by owners who said their vehicles lost value because of the defect, which has been linked to 124 deaths.

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The White House Office of Management and Budget is slated on Wednesday to release an interim rule for a ban on federal purchases of telecommunications equipment from five Chinese companies, including Huawei, a senior administration official said.

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Short-sellers targeting U.S. stocks logged a one-day paper profit of $24.75 billion on the sell-off on Aug. 5, according to data from financial technology and analytics firm S3 Partners.

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The White House Office of Management and Budget is slated on Wednesday to release an interim rule for a ban on federal purchases of telecommunications equipment from five Chinese companies, including Huawei, a senior administration official said.

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CVS Health Corp raised its full-year profit forecast and reported higher-than-expected second-quarter results on Wednesday, as increased U.S. prescription drug prices fueled rebates to its pharmacy benefits business.

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Saudi Crown Prince Mohammed Bin Salman is insisting on a $2 trillion valuation of oil firm Aramco, even though some bankers and company insiders say the kingdom should trim its target to around $1.5 trillion, industry and banking sources said.

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U.S. stocks plunged on Wednesday, with the Dow Jones Industrial Average falling more than 450 points, as investors were spooked by the latest signals from the bond market that pointed to heightened risk of a recession.

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Short-sellers targeting U.S. stocks logged a one-day paper profit of $24.75 billion on the selloff on Aug. 5, according to data from financial technology and analytics firm S3 Partners.

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Tesla Inc received a cease-and-desist letter last year from the U.S. National Highway Traffic Safety Administration (NHTSA) for making misleading statements over safety ratings of its Model 3 cars, according to documents seen by Reuters.

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