Breaking News: Economy
Europe could try to stop — or get around — damaging Trump tariffs
A ship carries shipping containers through Upper Bay in New York, U.S., September 30, 2024. Caitlin Ochs | Reuters Donald Trump’s U.S. election win has left Europe scrabbling to work out how it will be able to contain or counter highly probable tariffs on its exports to the U.S. once the president-elect enters the White […]
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Trump ‘most likely’ needs 60 votes in Senate to enact tariff plan, Sen. Rick Scott suggests
Chip Somodevilla | Getty Images President-elect Donald Trump proposed sweeping new tariffs while on the campaign trail. The self-proclaimed “Tariff Man” has said he could impose such levies on U.S. imports without Congress’ approval. There’s debate among economists and other experts as to whether he could do so. Sen. Rick Scott, R-Fla. — one of […]
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What Trump’s mass deportation plan would mean for immigrant workers and the economy
President-Elect Donald J. Trump won the White House based partly on his promises to rein in immigration, with targeted policies that range from sending criminals to their home countries to more sweeping ones like mass deportations. During the campaign, Trump pledged to end the Temporary Protected Status that allows workers from select countries to come to […]
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China consumer prices rise slowest in 4 months, despite stimulus
People purchasing fruit at an agricultural trade market on May 11, 2024 in Lianyungang, Jiangsu Province of China. Vcg | Visual China Group | Getty Images China’s consumer prices rose at the slowest pace in four months in October while producer price deflation deepened, data showed on Saturday, even as Beijing doubled down on stimulus […]
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Europe cannot finance Ukraine war if Trump pulls U.S. out of the conflict, Hungary’s Orban warns
Hungarian Prime Minister Viktor Orban attends ADF Talks as part of the Antalya Diplomacy Forum (ADF) at NEST Congress and Exhibition Center in Antalya, Turkiye on March 01, 2024. Emin Sansar | Anadolu | Getty Images Europe alone cannot shoulder the financial strain of supporting Ukraine against the ongoing Russian invasion, Hungarian leader Viktor Orban […]
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Traders see good chance the Fed cuts again in December then skips in January
Federal Reserve Chair Jerome Powell speaks during a news conference following the November 6-7, 2024, Federal Open Market Committee meeting at William McChesney Martin Jr. Federal Reserve Board Building, in Washington, DC, November 7, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Expectations for a December interest rate cut remained strong after the Federal Reserve […]
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Federal Reserve cuts interest rates by a quarter point
Key Points The Federal Open Market Committee lowered its benchmark overnight borrowing rate by a quarter percentage point, or 25 basis points, to a target range of 4.50%-4.75%. The vote was unanimous. Fed officials have justified the easing mode for policy as they view supporting employment becoming at least as much of a priority as […]
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Watch live: Fed Chair Powell faces questions on rate cut, inflation and Trump
Labor market doesn’t contribute significantly to price growth, Powell says Fed Chair Jerome Powell said the job market is not a key driver of inflation. “The labor market is not a source of significant inflationary pressures,” Powell said. The Fed chair said payroll expansion has slowed in recent months, while the unemployment rate has increased […]
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Stocks making the biggest moves midday: Warner Bros. Discovery, AppLovin, Wolfspeed, Lyft and more
Check out the companies making headlines in midday trading. Dutch Bros — The stock popped more than 32% following the coffee chain’s better-than-expected third-quarter results. Dutch Bros earned 16 cents per share on revenue of $338 million for the period, while analysts surveyed by LSEG had penciled in 12 cents per share and $325 million […]
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Steve Madden to slash China sourcing by as much as 45% as Trump’s tariff plan looms
The logo of the label Steve Madden at the fashion fair Premium. ens Kalaene | Picture Alliance | Getty Images Steve Madden said Thursday that it will slash the goods it imports from China by as much as 45% over the next year as it braces for President-elect Donald Trump to carry out his pledge […]
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