Economy

Trump Organization CFO granted immunity in probe

Trump Organization CFO granted immunity in probe David Pecker , the chairman of American Media, Inc., which publishes the National Enquirer , was granted immunity in exchange for giving prosecutors information about Cohen and Trump's knowledge of those payments, according to The Wall Street Journal and other media outlets . [Full Article...]

Another Trump loyalist granted immunity as prosecutors close in on Trump business

Another Trump loyalist granted immunity as prosecutors close in on Trump business Trump's former lawyer Michael Cohen pleaded guilty this week to campaign finance violations alleging he, Trump and the tabloid were involved in buying the silence of a porn actress and a Playboy model who alleged affairs with Trump. Cohen pleaded guilty on Tuesday in a Manhattan courtroom to multiple criminal offenses, including campaign finance violations. From there, it's an open questio... [Full Article...]

S&P 500 Tiptoes to New Bull Market Record-Sort Of

S&P 500 Tiptoes to New Bull Market Record-Sort Of The benchmark S&P 500 stock index clinched its longest bull-market run on Friday, closing above its previous January high, as Federal Reserve Chairman Jerome Powell affirmed the USA central bank's current pace of rate hikes. By this measure, the bull market began in March 2013 , when the S&P 500 finally closed above its 2007 low - not in March 2009. "While it's long in time, it could still go o... [Full Article...]

Foreign automakers oppose Trump NAFTA plan as US-Mexico talks resume

Foreign automakers oppose Trump NAFTA plan as US-Mexico talks resume If Mexican Economy Minister Ildefonso Guajardo and U.S. Trade Representative Robert Lighthizer can resolve remaining bilateral issues, "the plan is to try to incorporate Canada into the discussions", possibly as early as Thursday, said a Mexican source close to the talks . [Full Article...]

White House rejects Turkey's 'ransom' offer for pastor

White House rejects Turkey's 'ransom' offer for pastor However, the lira has lost 37 percent of its value this year amid concerns over Erdogan's influence on monetary policy and excerbated by the dispute with Washington . "Look, the Turkish government made a big mistake in not releasing Pastor Brunson", John Bolton told the Reuters news agency in an interview during a visit to Israel . [Full Article...]

Sears shutting down more stores, Upstate locations unaffected

Sears shutting down more stores, Upstate locations unaffected The company said in a statement this week that it told employees at those locations that. The once-powerful department store giant Sears is suffering tough times. So far in 2018, the stock has declined about 67 percent. Sears is weighing an offer from its CEO and largest shareholder, Eddie Lampert, to acquire its Kenmore household operations brand for $400 million. [Full Article...]

Trump complains about interest rate rises

Trump complains about interest rate rises Most analysts think that Trump's criticism will have little effect on the Fed's rate-hike plans, given the USA central bank's legal independence. "I'm not thrilled ", the president, who himself appointed Powell to lead the central bank, told Reuters on Monday . [Full Article...]

Cohen Pleads Guilty & Implicates President; Manafort Convicted of 8 Counts of Fraud

Cohen Pleads Guilty & Implicates President; Manafort Convicted of 8 Counts of Fraud Predictably, Trump's mood was grim as he traveled to and from West Virginia for a political rally on Tuesday evening. "It's going to be hard for the president to try to discredit all this". But that ruling did not directly address whether a president could be subpoenaed to testify in a criminal investigation, a question the Supreme Court may have to confront if Mueller tries to compel Trump's ... [Full Article...]

Google will reportedly replace borked Pixel 2 XL handsets

Google will reportedly replace borked Pixel 2 XL handsets Google's hardware team probably has, but if you're still keen on checking it out then there's yet another Pixel 3 XL in the wild but are they stolen? A video from Twitter account Khoroshev shows what appears to be a functioning Pixel 3 XL and it clearly shows an animation that suggests the phone has Qi wireless charging built-in. [Full Article...]

Don't panic! United Kingdom outlines plans to ease no-deal Brexit impact

Don't panic! United Kingdom outlines plans to ease no-deal Brexit impact Britain will unilaterally accept some European Union rules and give EU financial services firms continued access to the United Kingdom market in order to maintain stability if the country crashes out of the bloc without a deal, the government said Thursday. [Full Article...]

USA crude posts 7th straight weekly loss

USA crude posts 7th straight weekly loss Analysts surveyed Monday by S&P Global Platts were expecting latest United States crude stocks data to show a 3.37 million-barrel draw for the week ended August 17 - they had also expected a decline in last week's survey, but stocks instead posted a 6.81 million-barrel build. [Full Article...]

Australian government moves to adjourn parliament

Australian government moves to adjourn parliament Peter Dutton has never been so popular on social media - and we're not talking about Australia's possible next prime minister. The leadership crisis saw the government adjourn parliament on Thursday until September. The prime minister had hoped the first ballot, called by himself, would end speculation his government had lost faith in him after poor opinion polling and a by-election defeat in... [Full Article...]

South Africa: What will the fallout be from fraud inquiry?

South Africa: What will the fallout be from fraud inquiry? High ranking officials are expected to be summoned throughout the inquiry to explain the government's connection with the Guptas - a wealthy family of Indian origin - and their alleged influence within South African politics . Deputy Chief Justice Raymond Zondo also raised some challenges faced by the Commission regarding issuing of the security clearance certificates for the inquiry staff. [Full Article...]

Wall Street hits new high as bull run enters uncharted territory

Wall Street hits new high as bull run enters uncharted territory The index rose as much as 0.57% to a record high of 2872.87 in afternoon NY trading, topping the previous record set on 26 January. The S&P 500 was little changed as it marked its longest bull-market run. Natural gas dropped 0.8 percent to $2.96 per 1,000 cubic feet. The S&P 500 energy index.SPNY rose 0.5 percent and the S&P 500 materials index.SPLRCM gained 0.4 percent, in tandem with hig... [Full Article...]

Michael Cohen Just Deleted an Ironic Old Tweet About Hillary Clinton

Michael Cohen Just Deleted an Ironic Old Tweet About Hillary Clinton In one case, a Virginia jury found Paul Manafort , President Trump's former campaign chairman, guilty of tax evasion and bank fraud. Michael Cohen's guilty plea implicating President Donald Trump in a crime reverberated across the political landscape Wednesday, with Republicans rejecting talk of impeachment without evidence of Russian collusion. [Full Article...]

Alarm over Donald Trump complaints about his pick for US Fed chair

Alarm over Donald Trump complaints about his pick for US Fed chair The Fed is expected to raise rates twice more this year. Trump, unlike the Fed , doesn't seem concerned with rising prices as the 12-month rate of core inflation in July rose to 2.4%, "a level that hasn't been seen since September 2008", according to MarketWatch . [Full Article...]

White House rejects Turkeys offer for pastors release

White House rejects Turkeys offer for pastors release Much of the recent tension has centered around a US evangelical Christian pastor, Andrew Brunson, who has been detained in Turkey on terrorism charges, which he denies. On Friday, a Turkish high criminal court rejected Brunson's appeal to be released from house arrest and allowed to travel overseas after his appeal was rejected by a lower court. [Full Article...]

Paul Manafort found guilty on eight counts

Paul Manafort found guilty on eight counts As the jury was unable to return a unanimous verdict on an additional 10 counts brought against him by special counsel Robert Mueller's office, U.S. Cohen's accusation increases political pressure for Trump ahead of November's congressional elections where Democrats are trying to regain control of the House of Representatives and Senate . [Full Article...]

France's Total Has Officially Left Iran, Oil Minister Says

France's Total Has Officially Left Iran, Oil Minister Says Israel and the United States have been closely aligned on their approach to Iran since Trump took office. The comments were a veiled reference to European countries, which are seeking to save the nuclear deal and have vowed to keep providing Iran with the economic benefits it received from the accord. [Full Article...]

Trump Won’t Acknowledge the Independence of the Fed

Past presidents from both parties have sought to insulate the central bank from political pressure, anxious it could taint the Fed's decision-making and erode its credibility with the public. Trump and National Economic Council Director Larry Kudlow have both called on Powell to ease off rate hikes to keep the booming economy growing and dismissed concerns about inflation. [Full Article...]


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