Bloomberg “Trump Tells Putin the World Wants Them to ‘Get Along’.” President Donald Trump began his meeting with Vladimir Putin in Helsinki on Monday, testing his campaign pledge to revive ties with Russia amid pressure to confront the Kremlin leader over election meddling and growing concern that the U.S. is abandoning the current international order.....
Bloomberg “BOE’s Carney Nudged Step Closer to Rate Hike by Jobs Numbers.” U.K. employment rose to a record high in the three months through May and wage pressures showed few signs of abating, keeping the Bank of England on course for an interest-rate increase next month. The number of people in work rose by 137,000,....
Bloomberg “U.S. Housing Starts Drop by Most Since ’16 to Nine-Month Low.” U.S. new-home groundbreaking and permits fell in June to the slowest paces in nine months, as higher mortgage rates and elevated costs for labor and materials pinch the housing market, government figures showed Wednesday. Shares of homebuilders fell after the report. While the....
Bloomberg “Comcast Drops Out of Bidding War for Fox to Focus on U.K.’s Sky.” Comcast Corp. will no longer seek to compete with Walt Disney Co.’s for a swath of 21st Century Fox Inc.’s entertainment assets, choosing to focus instead on winning control of the British pay-TV service Sky Plc. Following a bidding war with....
Bloomberg “Trump Blasts Fed Rate Hikes, Says Strong Dollar Hurts U.S.” President Donald Trump lashed out at China and the European Union for their weak currencies and said a stronger dollar and rising interest rates are undermining America’s “competitive edge,” taking a fresh jab at the Federal Reserve. Stocks and the dollar fell. “China, the....
Bloomberg “Highlights from the G-20 Summit in Buenos Aires This Weekend.” Finance ministers and central bankers from the top 20 economies of the world on Sunday ended two days of talks in Buenos Aires. They began against a backdrop of concern with a burgeoning trade war that had risked spilling into currency markets. The meeting....
Bloomberg “GM Falls Victim to Trump’s Trade War as Metal Prices Sink Profit.” General Motors Co. has become the highest-profile American company to fall victim to Donald Trump’s trade wars, cutting its profit forecast this year on surging prices for steel and aluminum. Adjusted earnings will drop to about $6 a share, down from a....
Bloomberg “Facebook Takes Historic Plunge as Scandals Finally Take a Toll.” The social-media goliath’s financial performance had previously seemed immune to fierce critiques of its content policies, its failure to safeguard private data, and its changing rules for advertisers. But on Wednesday Facebook reported sales and user growth numbers for the second quarter that fell....
Bloomberg “U.S. Growth Hits 4.1%, Fastest Since 2014, in Win for Trump.” The U.S. economy accelerated to a 4.1 percent pace of growth in the second quarter, the fastest since 2014, letting President Donald Trump claim a win for his policies even though expansion is projected to cool. The annualized rate of gains in gross....
Bloomberg “Tech Slide Deepens as Bonds Drop, Oil Breaches $70: Markets Wrap.” The biggest technology shares fell for a third day as investors showed signs of exhaustion with the sector amid a slew of corporate earnings. Government bonds declined ahead of key policy meetings from some of the world’s biggest central banks. The Nasdaq Composite....
Bloomberg “U.S., China Said to Seek to Restart Talks to Defuse Trade War.” The U.S. and China are trying to restart talks aimed at averting a full-blown trade war between the world’s two largest economies, two people familiar with the effort said. Representatives of U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He....
Bloomberg “China Slams U.S. ‘Blackmailing’ as Trump Weighs Higher Tariffs.” China warned the U.S. against «blackmailing and pressuring» it over trade as the Trump administration mulls trying to force officials back to the negotiating table through threats of even higher tariffs. President Donald Trump’s officials are considering more than doubling planned tariffs on $200 billion....
Bloomberg “Carney Hikes Rate in What May Be Final Pre-Brexit Push.” The Bank of England raised its benchmark interest rate to the highest level since 2009 in what may be its final blow against inflation before the U.K. leaves the European Union. Governor Mark Carney played down concerns that Brexit may be disorderly and said....
Bloomberg “China Plans Tariffs on $60 Billion of Imports to Counter Trump.” China announced a list of $60 billion worth of U.S. imports it plans to apply tariffs on should the Trump administration follow through with its latest trade threats. Duties ranging from 5 percent to 25 percent will be levied on 5,207 kinds of....
Bloomberg “U.S. Stocks Fluctuate as Dollar, Bonds Advance: Markets Wrap.” U.S. stocks fluctuated and the dollar climbed versus most of its major peers after China signaled it won’t flinch in a trade war. Major American equity averages failed to hold early gains in trading that was 17 percent lower than the 30-day average at this....