U.S. consumer spending appears to have slowed further in January, with sales at clothing stores declining by the most since 2009, which could raise concerns about the economy’s ability to continue expanding at a moderate pace. The Commerce Department said on Friday retail sales excluding automobiles, gasoline, building materials and food services were unchanged last […]
Tag: business news
US industrial production January 2020
A Boeing 737 MAX 9 is pictured outside the factory in Renton, Washington. Stephen Brashear | Getty Images U.S. industrial production fell 0.3% in January as unseasonably warm weather held down the output of utilities and Boeing slowed production of civilian aircraft, the Federal Reserve said on Friday. The Fed said manufacturing production fell 0.1% […]
China tries to get back to work; Hong Kong pledges $3.2 billion
This is a live blog. Please check back for updates. Total confirmed cases: More than 64,000Total deaths: At least 1,380 9:03 am: Virus risk to US is ‘very low,’ but that could change ‘rapidly,’ Azar says The American public’s risk of getting infected with the new coronavirus is “very low” but that could change “rapidly,” […]
William Barr criticizes Trump tweets about Roger Stone
Attorney General William Barr, in a stunning rebuke to his boss, said Thursday that President Donald Trump should stop tweeting about the Justice Department, complaining that the president’s comments “make it impossible for me to do my job.” The remarks in an ABC News interview followed days of sharp criticism of Barr, Trump and the DOJ […]
Next two weeks critical for China in coronavirus outbreak
The next two weeks will be crucial in determining the economic impact of the coronavirus, says International Monetary Fund (IMF) Managing Director Kristalina Georgieva. In that time, factories are due to re-open in China, which would give a “better understanding on the resilience of China and on that basis, the spillover for the rest of […]
Huawei says US charges are an attempt to ‘irrevocably damage’ its image
Chinese telecom giant Huawei announced on October 16, 2019 that it has passed the 400,000 5G antennas mark, the fifth generation of mobile phones, in the world with 56 operators who have already started to roll out the new mobile network. STEFAN WERMUTH | AFP | Getty Images Chinese tech giant Huawei said new charges […]
S&P all-time high, Tesla comeback, Microsoft turns negative
Elon Musk Mike Blake | Reuters This is a live blog. Check back for updates. 3:22 pm: Wayfair drops 13% as company announces job cuts Shares of the online retailer tanked 13% after the company said it was cutting roughly 3% of its workforce, which translates to around 500 jobs. The company said that around […]
Tesla offering $2 billion in common stock with Elon Musk buying
Tesla shares slid after the electric automaker said it plans a $2 billion common stock offering, just two weeks after CEO Elon Musk said the company would not take advantage of its surging stock to raise more capital. Musk himself will buy as much as $10 million of stock in this offering, while Tesla board member Larry Ellison […]
US Consumer Price Index rose 0.1% in January, vs 0.2% expected
A woman shops at a Walmart Supercenter store in Rosemead, California. Frederic J. Brown | AFP | Getty Images U.S. underlying consumer prices picked up in January as households paid more for rents and clothing, supporting the Federal Reserve’s contention that inflation would gradually rise toward its 2% target. The Labor Department said on Thursday […]
Coronavirus, nukes, 5G will be hot topics as leaders gather in Germany
A camera over the banner of Munich Security Conference is pictured on February 15, 2019 in Munich, Germany. Florian Gaertner | Photothek | Getty Images MUNICH — More than 500 global leaders gather here over the weekend to discuss everything from the development of 5G networks to nuclear weapons to the recent coronavirus outbreak. The […]
