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Another Problem with Larry Kudlow's Deficit Whopper

Larry Kudlow, director of President Trump’s National Economic Council, set off a wave of incredulous head-scratching on Friday by claiming in an interview with Fox Business Network that the federal deficit “is coming down. Kudlow clarified his statement later in the day, explaining that he meant that the deficit will come down rapidly as the GOP’s tax cuts and the White House’s economic plan boost growth far beyond what most analysts outside the Trump administration expect. My case for lower deficits is that economic growth, both real and nominal, is going to be significantly faster than any of …read more […]

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Tesla Pauses Some Model 3 Output After Hitting Target

Tesla Inc. is scheduling a break for some Model 3 production after exceeding a closely watched target for the final week of the second quarter, according to people familiar with the matter. The break won’t impact production targets and will allow the company to do basic upkeep and maintenance work. Tesla reported earlier Monday that Model 3 output reached 5,031 in the final seven days of June, beating a 5,000-car target that Chief Executive Officer Elon Musk had said was crucial to generating cash and earning profit. …read more […]

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Trump threatens action on WTO after reports he wants to withdraw

U.S. President Donald Trump threatened to take action against the World Trade Organization on Monday after media reports said he wanted to withdraw from the global trade regulator. Trump has complained frequently that the United States is treated unfairly in global trade and has sharply criticized the WTO for letting that happen. “WTO has treated the United States very badly and I hope they change their ways. …read more […]

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Dell moves to go public, spurns IPO

Dell said the cash and stock deal will value its equity at between $61.1 billion and $70.1 billion, more than twice the $24.9 billion that founder and Chief Executive Michael Dell and buyout firm Silver Lake paid to take company private in 2013. The transaction will allow Dell to bypass the traditional IPO process, which would likely have involved grilling by stock market investors over its $52.7 billion debt pile. It also means Dell will not have to raise any new money, because it will pay for the deal by issuing new shares and a $9 billion dividend …read more […]

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Largest U.S. business group attacks Trump on tariffs

The U.S. Chamber of Commerce, the nation’s largest business lobbying group and customarily a close ally of President Donald Trump’s Republican Party, is launching a campaign on Monday to oppose Trump’s trade tariff policies. The new campaign, detailed first to Reuters, will provide an analysis of the financial hit each U.S. state stands take from potential retaliation to Trump’s tariffs. It argues that Trump is risking a global trade war that will hit the wallets of U.S. consumers. …read more […]