U.S. economic growth rates could double, or even triple, in the next decade if President Donald Trump’s plans produce expected sharp cuts to corporate and personal taxes, according to Steve Forbes, who ran twice for president under a platform calling for a flat tax rate. Forbes, chairman and editor-in-chief of the eponymous financial news firm […]
Read moreTrump says hurricane left Puerto Rico in trouble, but points to need to deal with island's debt load
The U.S. ramped up its response Monday to the humanitarian crisis in Puerto Rico, even as President Donald Trump brought up the island’s struggles before Hurricane Maria struck — including “billions of dollars” in debt to “Wall Street and the banks which, sadly, must be dealt with.” The Trump administration has tried to blunt criticism […]
Read moreThe last-ditch Republican bill to repeal Obamacare would result in 580,000 lost jobs and $240 billion in lost economic activity over the next decade, a new analysis warns. Those job and economic activity losses would ensure that growth in the U.S. gross domestic product “remains stuck in low gear of around 2 [percent] at best […]
Read moreCurrency, United States Finance
German far-right party raises concerns about Nazi ideology of the past, warns ex-Merkel official
A former member of Chancellor Angela Merkel‘s government said Monday he’s concerned about the rise of the far-right Alternative for Germany party, which has secured a place in the Bundestag for the first time. “It is a movement. It is a protest movement,” said Karl-Theodor zu Guttenberg, who served as economics minister and then defense […]
Read moreIt could be said that the underlying winner of Germany’s election Sunday was ultimately the Alternative for Germany (AfD) party, which saw the largest increase in voter share of all of the country’s main political parties. In fact, while the anti-immigrant, anti-euro party saw a 7.9 percentage point increase from the last election in 2013 […]
Read moreBerliners voted to keep the historic Tegel airport open even after a new international hub is completed, creating a headache for the German capital’s government, which wanted it closed. Tegel sprang up in just 90 days in 1948 to support the Berlin Airlift, a huge operation to ship supplies and thwart a Cold War Soviet […]
Read moreThe European Central Bank is becoming more confident that inflation will rise back to its target but the euro zone still requires substantial stimulus, ECB President Mario Draghi said on Monday. The medium term outlook is also clouded by uncertainty, including from the recent volatility in the euro’s exchange rate, Draghi told the European Parliament’s […]
Read moreUber Chief Executive Dara Khosrowshahi admitted the firm “got things wrong” Monday in a plea to London after the ride-hailing app was stripped of its license to operate in Britain’s capital city. “While Uber has revolutionized the way people move in cities around the world, it’s equally true that we’ve got things wrong along the […]
Read moreThe Federal Reserve is on track to gradually raise interest rates given factors depressing inflation are “fading” and the U.S. economy’s fundamentals are sound, an influential Fed policymaker said on Monday. New York Fed President William Dudley, among the first U.S. central bankers to speak publicly since their decision last week to hold rates steady […]
Read moreCurrency, United States Finance
What a weakened Merkel will mean for the euro currency in the coming months
The future seems a little more uncertain for the euro following the outcome of the German election. The common currency has been under pressure since markets opened Monday after provisional results showed a weakened Angela Merkel and a surging far-right Alternative for Germany (AfD) party that gained its first seats in parliament. The currency fell […]
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