Bloomberg “Stocks, Dollar Rise on Fed, Tax Plans; Bonds Fall: Markets Wrap.” U.S. stocks advanced as President Donald Trump prepares to lay out his tax-cut plan, while the dollar extended gains and bonds fell after Federal Reserve Chair Janet Yellen boosted expectations for an interest-rate rise in December. The S&P 500 Index was near record....
Reuters “At least 50 dead, more than 400 hurt in Las Vegas concert attack.” Some 50 people died and more than 400 were hurt when a 64-year-old gunman with an arsenal of at least 10 rifles fired on a Las Vegas country music festival on Sunday, raining down bullets from a 32nd-floor window for several....
Bloomberg “Companies Add Fewest U.S. Workers in Nearly a Year, ADP Says.” Companies last month added the fewest number of workers in nearly a year, reflecting a hit to the U.S. job market from hurricanese Harvey and Irma, according to data released Wednesday from the ADP Research Institute in Roseland, New Jersey. The report is....
Bloomberg “U.S. Payrolls Fall 33,000 on Storms; Jobless Rate at 4.2%.” The number of workers on U.S. payrolls declined last month for the first time since 2010, reflecting major disruptions from hurricanes Harvey and Irma, Labor Department figures showed Friday. The jobless rate fell to a new 16-year-low while wage gains accelerated. The hurricanes had....
Bloomberg “Japan Shares Rise with Nikkei 225 Closing at Highest Since 1996.” Japanese shares advanced, with the Nikkei 225 Stock Average closing at its highest since December 1996, bolstered by companies in industries ranging from technology to retail. Machinery maker Fanuc Corp., Recruit Holdings Co., FamilyMart UNY Holdings Co., SoftBank Group Corp. and Terumo Corp.....
Bloomberg “Consumer Sentiment in U.S. Unexpectedly Surges to 13-Year High.” U.S. consumer sentiment unexpectedly surged to a 13-year high as Americans’ perceptions of the economy and their own finances rebounded following several major hurricanes, a University of Michigan survey showed Friday. The jump in sentiment, which was greater than any analyst had projected, may reflect....
Bloomberg “American Bulls Clash with Europe’s Bears at World Finance Summit.” The world economy is either the healthiest it’s been in a decade, poised to continue an epic bull run, or perched on the precipice of another crisis. It just depends what side of the Atlantic you’re on. In panel after panel, American bankers expressed....
Reuters “China’s Xi lays out vision for ‘new era’ led by ‘still stronger’ Communist Party.” Chinese President Xi Jinping on Wednesday laid out a confident vision for a more prosperous nation and its role in the world, stressing the importance of wiping out corruption and curbing industrial overcapacity, income inequality and pollution. Opening a critical....
Bloomberg “U.S. Senate Adopts Budget, Giving Momentum to Trump’s Tax-Cut Plans.” The Senate adopted a fiscal 2018 budget resolution Thursday that House GOP leaders agreed to accept, a show of unity aimed at speeding consideration of President Donald Trump’s plan to enact tax cuts. The budget cleared the Senate 51-49, with all Democrats and Republican....
Bloomberg “Venezuela’s Behind on Its Debt and Facing Two Huge Bond Payments.” Ever since the price of oil collapsed in mid-2014, there’s been a broad consensus among the bond-market crowd that Venezuela was going to default. Not immediately, they said, but at some point down the road. Three years on, that time may have arrived.....
Bloomberg “Donald Trump Courted a Republican Rebellion. Now He’s Got One.” Donald Trump campaigned against the Republican Party establishment to win the White House. After two of its more prominent members fought back, calling Trump nothing less than a danger to democracy, the president showed no signs of letting up Wednesday. The rebellion comes at....
Bloomberg “Trump Leans Toward Jay Powell As Next Fed Chairman.” President Donald Trump is leaning toward appointing Federal Reserve Governor Jerome Powell to be the next chairman of the Fed, according to three people familiar with the matter. The decision isn’t yet final, the people cautioned, and Trump could change his mind at any time.....
Bloomberg “Trump-Russia Probe’s Opening Salvo Targets Manafort, Partner.” Paul Manafort, a former campaign manager for President Donald Trump, and his onetime business partner Rick Gates were charged with conspiracy against the U.S., the first people charged in the broad investigation into Russian meddling with the U.S. election. Manafort laundered more than $18 million to support....
BBC News “UK interest rates rise for first time in 10 years.” The official bank rate has been lifted from 0.25% to 0.5%, the first increase since July 2007. It is likely to rise twice more over the next three years, according to Bank of England governor Mark Carney. The move reverses the cut in....
Bloomberg “Trump Is Leaving Japan Empty-Handed on Trade.” For all the apparent chumminess between President Donald Trump and Japan’s Shinzo Abe, it hasn’t resulted in much concrete action to address Trump’s main complaint: fixing what he sees as an unfair trade relationship with Japan. For Trump, more known for shoving a fellow leader aside than....