Business & Finance News
President Donald Trump on Monday told Congress to slash funding for foreign aid and the State Department and increase spending for the military and the wall he wants to build on the U.S.-Mexico border in his 2020 budget, the opening move in his next funding fight with Congress.
The White House proposed on Monday eliminating a tax credit worth up to $7,500 on the purchase of new electric vehicles, a move it says would save the U.S. government $2.5 billion over a decade.
U.S. retail sales rose modestly in January after a December drop that was even larger than originally estimated, but the recovery was not seen strong enough to alter the course of a U.S. economy that was losing momentum in early 2019.
Pan-European stock market operator Euronext on Monday extended its offer for Oslo Bors, while keeping the terms unchanged, as its battle with Nasdaq for the control of Norway’s stock market operator escalates.
Oslo Bors’ biggest shareholder, Norwegian bank DNB, said on Monday that it continues to support Nasdaq’s offer for the Oslo exchange operator after rival bidder Euronext extended its offer.
Barrick Gold Corp on Monday pulled its $18 billion offer for Newmont Mining Corp and agreed to form a joint venture in Nevada with its rival, ending a hostile takeover bid that sought to unite the world’s two largest gold producers.
Wells Fargo & Co Chief Executive Tim Sloan will tout the scandal-plagued bank’s progress in repaying wrongly charged customers and highlight changes to its risk management in testimony to U.S. lawmakers on Tuesday, according to prepared remarks.
U.S. chipmaker Nvidia Corp has agreed to buy Israeli chip designer Mellanox Technologies Ltd for $6.8 billion, beating rival Intel Corp in a deal that would help the firm boost its data center and supercomputer business.
Boeing Co shares fell by the most in three years on Monday after China, Indonesia and Ethiopia ordered airlines to ground their 737 MAX 8 planes following the second deadly crash of one of the jets in just five months.
The Ethiopian Airways plane that crashed killing 157 people was making a strange rattling noise and trailed smoke and debris as it swerved above a field of panicked cows before hitting earth, according to witnesses.
Global equity markets surged on Monday, lifted by talk of more stimulus from China and by a broad rally on Wall Street that overcame a plunge in Boeing shares after one of its newest jets crashed, while U.S. debt yields rose on improved risk appetite.
Tesla Inc Chief Executive Elon Musk has until the end of the day on Monday to explain why he should not be held in contempt for recent tweets that U.S. securities regulators say violated a September fraud settlement.
The top U.S. buyers of Venezuelan oil are in the unusual position of trying to return millions of barrels of crude they need but cannot accept because of U.S. sanctions on the South American nation and its state-run energy firm PDVSA.
U.S. President Donald Trump on Monday asked Congress in his fiscal 2020 budget to slash spending for foreign aid while increasing spending on the military and for the wall he wants to build on the U.S.-Mexico border, a senior administration official told reporters.
President Donald Trump will propose in his fiscal 2020 budget on Monday that the U.S. Congress cut non-defense spending by 5 percent while boosting spending on the military, veterans’ healthcare and border security, the White House budget office said on Sunday.
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