Economy

US Mulls Duties on $2.4 Billion in French Goods Over Tech Tax
Foreign Affairs
US Mulls Duties on $2.4 Billion in French Goods Over Tech Tax

WASHINGTON — The U.S. proposed tariffs on roughly $2.4 billion in French products, in response to a tax on digital revenues that hits large American tech companies including Google, Apple Inc., Facebook Inc. and Amazon.com Inc. “France’s digital services tax... Read More

Online Sales Break Black Friday Record as Clicks Beat Queues
In The News
Online Sales Break Black Friday Record as Clicks Beat Queues

NEW YORK — Black Friday hit a record $7.4 billion in U.S. online sales as many shoppers spent the day clicking instead of lining up to buy. It was the second-biggest U.S. online sales day ever, behind 2018 Cyber Monday’s... Read More

Trump Dispenses Billions in Aid to Farmers, Hoping to Shore Up Rural Base
Agriculture
Trump Dispenses Billions in Aid to Farmers, Hoping to Shore Up Rural Base

WASHINGTON — Moving to offset the impact his trade war has had on rural America, President Donald Trump has bypassed Congress to send some $20 billion in aid to farmers, mostly going to a bundle of states that are essential... Read More

House Votes to Renew Export-Import Bank Charter Over GOP Opposition
Trade
House Votes to Renew Export-Import Bank Charter Over GOP Opposition
2019-11-18 18:57:05
by Dan McCue

WASHINGTON - The House voted on Friday to renew the charter of the Export-Import Bank, the U.S. agency that provides loans and other help to foreign buyers of U.S. exports, despite opposition from Republican lawmakers. Despite the bank having historically... Read More

Congress Considers Proposals to Help Immigrants Start Small Businesses
In The News
Congress Considers Proposals to Help Immigrants Start Small Businesses
2019-11-11 17:03:42
by Tom Ramstack

Business leaders in California appealed to Congress Friday to expand financial assistance to immigrants trying to start their own businesses. They said small government investments can create big payoffs when immigrants start successful businesses that pay taxes and employ other... Read More

WTO Says China Can Impose Sanctions On $3.5B Worth Of US Goods
Trade
WTO Says China Can Impose Sanctions On $3.5B Worth Of US Goods
2019-11-01 20:38:40
by Dan McCue

WASHINGTON - The World Trade Organization said Friday that China can place new trade sanctions on $3.5 billion of U.S. goods in retaliation for U.S. restrictions on Chinese furniture, steel products and solar panels. The award by an arbitration panel... Read More

New Report Shows Private Equity's Positive Impact on U.S. Economy
Economy
New Report Shows Private Equity's Positive Impact on U.S. Economy
2019-11-01 17:40:51
by Dan McCue

WASHINGTON - Private equity sector is playing a positive role in the U.S. economy, supporting more than 26 million jobs while accounting for about 5% of the nation's gross domestic product, according to a new report. The analysis comes from... Read More

Trump’s Steel Tariffs Were Supposed to Save the Industry. They Made Things Worse
Economy
Trump’s Steel Tariffs Were Supposed to Save the Industry. They Made Things Worse

WASHINGTON — When President Trump slapped 25% tariffs on foreign steel in March 2018, panicky U.S. buyers rushed to place new orders ahead of feared supply interruptions, driving prices up sharply. It was an instant bonanza for domestic steel producers.... Read More

Federal Deficit Just Shy of $1 Trillion for 2019, Highest Since 2012
Federal Budget
Federal Deficit Just Shy of $1 Trillion for 2019, Highest Since 2012
2019-10-25 20:00:10
by Dan McCue

WASHINGTON - The federal deficit for fiscal year 2019 was $984 billion, $205 billion more than in the prior fiscal year, Treasury Secretary Steven Mnuchin announced Friday afternoon. The final accounting from the Treasury Department of the Office of Management... Read More

Trump Move Could Spark Another Exodus of US Jobs Researchers
In The News
Trump Move Could Spark Another Exodus of US Jobs Researchers

WASHINGTON — Donald Trump has called its work “phony.” His Acting Chief of Staff Mick Mulvaney warned that President Barack Obama was “manipulating” its numbers. Economic adviser Larry Kudlow termed one of its reports “very fluky.” Is it a House... Read More

Governors Hold Summit on Regional Approach to Cannabis and Vaping Legislation
State News
Governors Hold Summit on Regional Approach to Cannabis and Vaping Legislation
2019-10-18 21:07:24
by Dan McCue

The governors of five northeastern states came together for a summit on Thursday to discuss the outlines of a joint regional approach to cannabis and vaping policies. "This issue is complicated, controversial and consequential. It is probably one of the... Read More

Cannabis Banking Challenges Go Beyond Marijuana
In The News
Cannabis Banking Challenges Go Beyond Marijuana

FRANKLIN, Tenn. — Kat Merryfield was ready to share her farm-to-home oils, chocolates and creams with the rest of the country. But banks and credit card processors weren’t ready to work with her small business. “We started out our website... Read More

Focus on Core Issues Bolsters Democrats Odds of Holding House Majority, Analysis Finds
2020 Elections
Focus on Core Issues Bolsters Democrats Odds of Holding House Majority, Analysis Finds
2019-10-15 21:16:26
by Dan McCue

WASHINGTON - If Democrats want to hold their majority in House in 2020 they'll focus on core issues important to their constituents like protecting healthcare coverage, fighting corruption, and expanding economic opportunity, according to a new analysis by Third Way,... Read More

IMF Downgrades Outlook for World Economy, Citing Ongoing Trade Wars
Economy
IMF Downgrades Outlook for World Economy, Citing Ongoing Trade Wars
2019-10-15 19:52:40
by Dan McCue

WASHINGTON — The International Monetary Fund on Tuesday downgraded its outlook for the world economy, predicting that growth in the developed world this year, stymied by trade conflicts, will be the weakest since the 2008 financial crisis. During a press... Read More

Historic Rains Ravaged Illinois Farms. Now The race Is On to Harvest Before It’s Too Late.
In The News
Historic Rains Ravaged Illinois Farms. Now The race Is On to Harvest Before It’s Too Late.

Mark Tuttle cuts straight to the point when describing the field and weather conditions he has faced this year on his farm in southern DeKalb County. “In one word, I’d say: ‘miserable,’ ” said Tuttle, who grows corn, soybeans and... Read More

New IMF Head Blames Trade Conflicts for 'Synchronized Global Slowdown'
Economy
New IMF Head Blames Trade Conflicts for 'Synchronized Global Slowdown'
2019-10-08 22:31:21
by Dan McCue

WASHINGTON  — Kristalina Georgieva, the new head of the International Monetary Fund, said Tuesday that the world economy is in the grips of a "synchronized global slowdown" fueled by ongoing trade disputes. Speaking at the World Bank/IMF annual meetings being... Read More

Scottish Whiskey, French Wine and Italian Cheeses Targeted For Tariffs
Foreign Affairs
Scottish Whiskey, French Wine and Italian Cheeses Targeted For Tariffs
2019-10-04 15:27:04
by Dan McCue

WASHINGTON - Scottish whisky, French wine and Italian cheese all could feel the wallop of hefty tariffs now that the World Trade Organization decided it will allow the United States to place tariffs on $7.5 billion of European Union goods.... Read More

House Passes Bill Granting Marijuana Businesses Access to Banking
Economy
House Passes Bill Granting Marijuana Businesses Access to Banking
2019-09-27 20:59:45
by Dan McCue

WASHINGTON - The House passed a bill earlier this week that would grant legal marijuana businesses access to banking, resolving a longstanding challenge for the growing industry. The bill, called the SAFE Banking Act, passed 321-103 on the strength of... Read More

Top World Bank Official Tapped As New Chief at International Monetary Fund
Finance
Top World Bank Official Tapped As New Chief at International Monetary Fund
2019-09-27 20:51:34
by Dan McCue

WASHINGTON - Kristalina Georgieva, a Bulgarian economist and top World Bank official, has been named the new head of the International Monetary Fund. She succeeds Christine Lagarde who is stepping down to take over as head of the European Central... Read More

Income Inequality Continues to Grow Despite Bump in Median Income
Economy
Income Inequality Continues to Grow Despite Bump in Median Income
2019-09-27 20:46:25
by Dan McCue

WASHINGTON - The gap between those who are well-off in the United States and those who aren't is now the largest it's been in the past 50 years - this despite the median U.S. income setting a new record high,... Read More

McHenry, Maloney Introduce Bipartisan Financial Transparency Act
Finance
McHenry, Maloney Introduce Bipartisan Financial Transparency Act
2019-09-27 20:41:31
by Dan McCue

WASHINGTON - Reps. Patrick McHenry, R-N.C., and Carolyn Maloney, D-N.Y., have introduced legislation to make financial data more easily available online and less opaque. McHenry, ranking Republican of the House Financial Services Committee, said with technology playing such a large... Read More

Women-Owned Businesses Growing 2X Faster Than All Businesses Nationwide
Economy
Women-Owned Businesses Growing 2X Faster Than All Businesses Nationwide
2019-09-24 20:35:40
by Dan McCue

WASHINGTON - Women-owned businesses continue to fuel the economy and now represent 42% of all businesses — nearly 13 million — employing 9.4 million workers and generating revenue of $1.9 trillion, according to a new report commissioned by American Express.... Read More

GM Strike May Stretch Out Awaiting UAW Workers’ Vote On Tentative Deal
Employment
GM Strike May Stretch Out Awaiting UAW Workers’ Vote On Tentative Deal

DETROIT — The UAW is considering staying on strike against General Motors until rank-and-file members approve a tentative agreement, a process that could add more than a week to the length of the work stoppage, the Free Press has learned.... Read More

Majority of CFOs See US Sliding Into Recession Before 2020 Election
Economy
Majority of CFOs See US Sliding Into Recession Before 2020 Election
2019-09-19 12:46:24
by Dan McCue

WASHINGTON - A majority of chief financial officers surveyed by Duke University believe the United States will be in an economic recession by the 2020 Election, despite continuing low unemployment. Fifty-three percent of the 225 CFOs participating in the latest... Read More

Wall Street May Get $40 billion Reprieve From Trump Regulators
Economy
Wall Street May Get $40 billion Reprieve From Trump Regulators

WASHINGTON — Wall Street could soon get one of its most consequential wins of the Trump era as regulators are considering ripping up a rule that’s forced banks to set aside billions of dollars for swaps trades, according to people... Read More

Saudi Attacks Reveal Oil Supply Fragility in Asymmetric War
Geopolitics
Saudi Attacks Reveal Oil Supply Fragility in Asymmetric War

DUBAI, United Arab Emirates — The latest and most destructive attacks on Saudi oil facilities provide stark evidence of the vulnerability of global crude supply in an age of disruptive technologies that can bring a century-old industry to its knees... Read More

46,000 UAW Workers Strike At GM Plants Nationwide
Economy
46,000 UAW Workers Strike At GM Plants Nationwide

DETROIT — Members of the United Auto Workers went on strike at General Motors Co. plants nationwide at midnight Sunday night, sending 46,000 workers to picket lines in the union’s first walkout since the automaker emerged from taxpayer-funded bankruptcy a... Read More

White House Repeals Obama-Era Clean Water Rule
Environment
White House Repeals Obama-Era Clean Water Rule
2019-09-13 19:51:40
by Dan McCue

WASHINGTON — The Trump administration announced Thursday that it is repealing an  Obama-era clean water rule that had placed limits on polluting chemicals that could be used near streams, wetlands and other bodies of water. According to the Environmental Protection... Read More

House Panel Told Broadband Policies Should Not Worsen Urban/Rural Divide
Technology
House Panel Told Broadband Policies Should Not Worsen Urban/Rural Divide
2019-09-11 23:48:11
by Dan McCue

WASHINGTON - A far-reaching broadband connectivity should not be dictated by the location of a home or business, but rather should foster economic growth and sustainable communities by being equally accessible by all. That was the overarching message delivered to... Read More

House Votes to Ban Offshore Drilling, Throwing Down Gauntlet for Trump, GOP
Environment
House Votes to Ban Offshore Drilling, Throwing Down Gauntlet for Trump, GOP
2019-09-11 23:43:20
by Dan McCue

WASHINGTON - Rep. Francis Rooney, R-Fla., couldn't be happier that the House Wednesday passed a pair of bills blocking offshore oil drilling in almost all waters around the United States. But in an interview with The Well News, he acknowledged... Read More

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