South Korean President Lee to meet with Trump in Washington on Monday
Anthony Kuhn SEOUL, South Korea — En route to his first summit with President Trump, South Korea’s president has pushed back against U.S. pressure to refocus his country’s 71-year-old military alliance with the U.S. away from deterring North Korea and toward countering China. “This is not an issue we can easily agree with,” Lee Jae-myung…
Boxed in by shifting tariff rules, European shippers pause some U.S.-bound parcels
Camila Domonoske Many European parcel companies — including DHL, the Royal Mail, and the French and Spanish national post offices — are temporarily suspending some shipments to the U.S., citing new U.S. tariff policies that kick in this week. And while the financial costs of tariffs have dominated trade news this summer, in this case,…
Fed Chair Jerome Powell signals possible rate cut, sending stocks sharply higher
Scott Horsley Federal Reserve Chairman Jerome Powell signaled a possible cut in interest rates in the near future, sending stocks soaring on Friday. Speaking to a gathering of economists and central bankers in Jackson Hole, Wyo., Powell said current economic conditions, including a marked slowdown in job growth, suggest a downward adjustment in the Fed’s…
Businesses face ‘chaos’ as EPA aims to repeal its authority over climate pollution
By Michael Copley The Trump administration’s plan to undo a landmark finding that climate pollution threatens public health and welfare poses lots of risks for corporate America. The Environmental Protection Agency’s endangerment finding has served as the legal basis for federal climate regulations under the Clean Air Act since 2009. The finding concludes that the…
Private equity and crypto could be heading for your 401(k). Here’s what to know
Laurel Wamsley The funds in most retirement accounts are pretty basic: stocks and bonds. Now, an executive order signed by President Trump aims to lay the groundwork for an array of “alternative assets,” including cryptocurrency, real estate and private equity, to be included in 401(k) and similar accounts. These accounts are retirement plans offered by…
Trump is tightening the screws on corporate America — and CEOs are staying mum
By Maria Aspan Corporate America doesn’t want to fight with President Trump in public. But as a result, it’s ceding him an unprecedented amount of control over the shape — and future — of U.S. business. In the past week, the president has turned up the heat on big companies and their CEOs to an…
Trump’s China trade truce extension spurs market rally
Bourses in Australia and Japan hit record highs as hopes grow of trade deal within latest 90-day pause Business live – latest updates George Magus: Why Peak China may finally have arrived Donald Trump’s decision to extend a truce in the trade war with China for another 90 days triggered a stock market rally across…
China’s crackdown on lavish civil servant perks will ‘harm’ the economy, experts warn
Updated regulations ban the country’s 40 million civil servants from lavish banquets, and restrict them from overseas travel for ‘personal leisure’ Adjacent to a municipal government building in Beijing, a normally bustling restaurant is now eerily quiet, at lunchtime most of its seats are empty. The recent crackdown on civil servants frequenting restaurants – part…
Trump’s tariff revenue has skyrocketed. But how big is it, really?
Danielle Kurtzleben Trump has long sold his tariff plan as a new source of cash for the government. And with his recent moves, tariffs are adding tens of billions of new dollars to federal revenue. Last month, the Department of the Treasury brought in more than $29 billion in “customs and excise taxes” — a…