U.S. Economy
Deep divisions in battleground Pennsylvania over proposed sale of U.S. Steel to Japanese company
A water tower at the United States Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, US, on Wednesday, Sept. 4, 2024. Justin Merriman | Bloomberg | Getty Images WEST MIFFLIN, Pa. — It’s one the few things Vice President Kamala Harris and former President Donald Trump agree on: opposing the sale of U.S. Steel to the Japanese […]
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Trump adopts Elon Musk plan for government reform, lays out economic blueprint ahead of Harris debate
President Trump speaks at the Economic Club of New York on November 12, 2019. Adam Jeffery | CNBC NEW YORK — Former President Donald Trump on Thursday unveiled a new batch of economic policy proposals that include Tesla CEO Elon Musk’s idea of creating a government efficiency commission to eliminate wasteful federal spending, a shot […]
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Harris to propose $50,000 tax deduction for small business startup expenses, ahead of Trump debate
Democratic presidential nominee and U.S. Vice President Kamala Harris delivers remarks at a campaign rally in Savannah, Georgia, U.S., August 29, 2024. Elizabeth Frantz | Reuters Vice President Kamala Harris on Wednesday will unveil a new proposal to provide small businesses with a $50,000 tax deduction for startup expenses, ten times the current $5,000 allowable […]
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About 10,000 U.S. hotel workers strike as contract talks break down
The Hyatt Regency Washington on Capitol Hill is seen on August 21, 2024 in Washington, DC. Anna Rose Layden | Getty Images Some 10,000 U.S. hotel workers began a multi-day strike in several cities on Sunday after contract talks with hotel operators Marriott International, Hilton Worldwide and Hyatt Hotels stalled, the Unite Here union said. Unite Here, which represents workers in hotels, casinos, and airports across the United States […]
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Goldman issues warning on how quickly market confidence has recovered from an August stocks slump
Traders work on the floor of the New York Stock Exchange during morning trading on Aug. 23, 2024. Angela Weiss | AFP | Getty Images The speedy return of market confidence following a dramatic global sell-off in risky assets should be seen as a cause for concern, according to the head of asset allocation research […]
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Trump budget would spike deficits by nearly 5 times Harris proposal, says Penn Wharton
Former President Donald Trump’s economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the nonpartisan Penn Wharton Budget Model. The Trump report found that his plan to […]
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CNBC Daily Open: Nvidia’s ‘drop-the-mic moment’
Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading in New York on August 23, 2024. Angela Weiss | AFP | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, […]
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Watch live: Fed Chair Jerome Powell speaks from Jackson Hole conference
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell delivers his keynote speech Friday morning at the central bank’s annual retreat in Jackson Hole, Wyoming. Powell was widely expected to chart a path forward […]
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How China became the leading car supplier to Mexico and what it means for the U.S.
Blocked from the U.S. by tariffs, Chinese electric vehicle makers have looked elsewhere to sell their high-tech cars. But as Mexico has emerged as a hot spot for Chinese EVs, Washington officials worry the country may be used as a “backdoor” to the U.S. market. Last year, China was the leading car supplier to Mexico, […]
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Treasury yields rise as traders await Powell remarks
The U.S. 10-year Treasury rose on Thursday as investors looked ahead to remarks from Federal Reserve Chairman Jerome Powell. The yield on the 10-year Treasury climbed more than 5 basis points at 3.835%, while the yield on the 2-year Treasury added roughly 5 basis point higher at 3.976%. Yields and prices move in opposite directions. […]
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