Banking & Finance
The latest coverage of the banking and financial sectors.
U.S. sees tepid job growth, only 22,000 added, in August, says Bureau of Labor Statistics report
The U.S. added only 22,000 jobs in August, according to federal figures Friday that increased worries about the employment market.
Trump Fed pick Stephen Miran says Central bank’s independence is ‘critical element’ for its success
President Trump’s choice to fill a seat at the Federal Reserve said Thursday he would act based on economic data and not political whims as debate rages over White House efforts to reshape the Fed to its liking.
Public strongly backs Trump’s idea to have Uncle Sam hold a stake in U.S. companies
Most Americans back President Trump’s idea of having the federal government take a stake in U.S. companies that get taxpayer money. A new survey shared first with The Washington Times found 62% in favor of the notion that the government “should have a stake” in firms that are part of national security and receive taxpayer support.
White House says Lisa Cook should take leave from Fed during legal fight over firing
White House officials on Wednesday urged Federal Reserve Board member Lisa Cook to vacate her position instead of waiting for a court decision on President Trump’s attempt to fire her.
Wall Street edges higher as the market awaits Nvidia’s quarterly report
U.S. stocks edged higher in morning trading Wednesday ahead of a highly anticipated earnings update from computer chip giant Nvidia that may provide insights into the current state and future of artificial intelligence.
Trump’s 50% tariffs on India over Russian oil purchases take effect
Steep U.S. tariffs on a range of Indian products took effect Wednesday, threatening a serious blow to India’s overseas trade in its largest export market.
Trump’s Intel stake sparks cries of ‘socialism’ from his party, but he vows more deals are coming
Donald Trump has a message for critics who think turning the U.S. government into a major stockholder of Intel is a “socialist” move: More is coming.
Commerce Secretary Lutnick hints at U.S. government stake in defense contractors
The Trump administration is having a lively debate about whether the government should take a stake in companies that serve as top defense contractors.
Lisa Cook lawyers up, vows to fight Fed firing by Trump
Federal Reserve Board member Lisa Cook is planning to challenge President Trump’s attempt to fire her from the central bank over allegations of mortgage fraud.
Trump says he is removing Lisa Cook from the Fed board
President Trump said Monday he is removing Lisa Cook from her position as a governor on the Federal Reserve board, saying there is “sufficient reason” to believe she made false statements on personal mortgage documents.
Trump says 15% tariffs on South Korea won’t change after meeting with President Lee Jae-myung
President Trump said the U.S. trade deal with South Korea will remain in place, with 15% tariffs on South Korean goods, after meeting Monday at the White House with President Lee Jae-myung in talks that also covered a shipbuilding deal, a potential summit with North Korea and the cost of U.S. troops stationed on the peninsula.
Trump says Intel stake is the start of a government-private sector trend
President Trump said Monday that a deal with chipmaker Intel is just the beginning of a push to give the U.S. government a stake in private companies.
World shares are mixed after Fed chair Powell hints at rate cuts
World shares were mixed on Monday after the head of the Federal Reserve hinted that cuts to interest rates may be on the way.
Canada withdraws retaliatory tariffs on U.S. goods to facilitate trade talks
Prime Minister Mark Carney said Canada is withdrawing reciprocal tariffs on U.S. goods, hoping to soften the ground before a review of the North American trade agreement later this year.
Critics cry ‘socialism’ while Trump seeks control of some private businesses
The U.S. government is $37 trillion in debt because, according to President Trump’s America First philosophy, Washington’s previous leaders have made “stupid deals.”
