Drag from Trump’s trade wars continues to ripple through U.S. economy
As U.S. President Donald Trump and Chinese Vice Premier Liu He prepare to sign a “Phase 1” trade deal, new data show that the costs of Trump’s trade wars are proving more widespread, deeper and longer-lasting than previously believed.
Wall Street inches to fresh record after upbeat JPMorgan, Citi results
U.S. stocks eked out gains to hit fresh record highs on Tuesday, as stronger-than-expected earnings from JPMorgan and Citigroup added to optimism about the domestic economy ahead of the imminent signing of a U.S.-China trade deal.
Why the Ukrainian plane tragedy is unlikely to lead to global airspace rules
Why was the Ukrainian airliner mistakenly shot down near Tehran by Iranian forces last week for the loss of 176 lives even allowed to take off from a country that had just fired missiles towards its neighbour? And why didn’t the airline just delay or c…
Oil climbs after five days of losses ahead of U.S.-China trade pact
Oil prices climbed on Tuesday after five days of declines as the United States and China prepared to sign a preliminary trade deal and as Middle East tensions eased.
Wells Fargo’s new chief pledges more cost cuts as profit slumps
Wells Fargo & Co’s profit slumped 55% in the fourth quarter as new boss Charles Scharf set aside another $1.5 billion for legal costs related to the bank’s sales scandal and promised “fundamental changes.”
U.S. bank executives offer cautious optimism heading into 2020
Despite trade wars, low interest rates and new geopolitical tensions, big U.S. banks have not experienced major disruption to their core businesses and top executives are hopeful they can generate growth this year.
U.S. agency to determine cause of 2018 fatal Tesla ‘Autopilot’ crash
The U.S. National Transportation Safety Board (NTSB) will meet on Feb. 25 to determine the probable cause of the 2018 fatal crash of a Tesla Inc vehicle in Mountain View, California, the agency said.
Chile’s Codelco says uncovered $22 million insurance fraud involving unions
Chile’s state-owned Codelco, the world’s largest copper producer, said on Tuesday it had filed a lawsuit over an alleged scam in insurance contracts drawn up by unions for workers at its Chuquicamata and Radomiro Tomic mines.
Former Barclays CEO suggested Qatari side deal in 2008, London court hears
Former Barclays chief executive John Varley first suggested the bank could use a side deal to satisfy Qatar’s demands for extra cash in return for rescue funding for the bank during the 2008 credit crisis, a London court heard on Tuesday.
S&P 500 eases from record on tech retreat, Wells Fargo slide
The S&P 500 eased from record levels on Tuesday, as technology stocks handed back gains made on hopes of a preliminary U.S.-China trade deal and Wells Fargo slid in a mixed start to big banks’ quarterly earnings.
