The US economy is running at close to capacity, with only 3.8 percent unemployment. Finally, after years of unrequited anticipation, we are seeing some reasonable wage growth. Despite the 2.7 percent year-over-year current reading, this gain falls short of the close to 4 percent nominal increases seen historically during periods of low unemployment. This suggests […]
Read more[The stream is slated to start at 1 p.m. ET. Please refresh the page if you do not see a player above at that time.] President Donald Trump‘s top economic advisor Larry Kudlow on Wednesday is expected to lead a press briefing at the White House on the upcoming G7 Summit. Kudlow, the director of […]
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Cambridge Analytica’s former chief denied deliberately misleading British lawmakers, even as he admitted that his firm did receive data from the researcher at the center of a scandal over Facebook data, contradicting his previous testimony. Cambridge Analytica has said its work on Donald Trump’s presidential campaign did not use data at the center of the […]
Read moreThe volume of black smoke billowing from a fire at London’s Mandarin Oriental has gone down significantly after about an hour. Earlier, video footage showed smoke billowing from the roof of the hotel in London’s ritzy Knightsbridge area. The fire brigade says it was called just before 4 p.m. (1500 GMT) to the 12-story hotel. […]
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Ukraine has mired itself in political drama ahead of a crucial vote, the result of which will determine Kiev’s access to a financial lifeline. Lawmakers in the Rada, Ukraine’s parliament, will vote Thursday on the creation of an anti-corruption court, a key condition of unlocking the country’s $17.5 billion International Monetary Fund (IMF) bailout that’s […]
Read moreThe U.S. trade deficit fell to a seven-month low in April as exports rose to a record high, lifted by an increase in shipments of industrial materials and soybeans. The Commerce Department said on Wednesday the trade gap dropped 2.1 percent to $46.2 billion, the smallest since September. Data for March was revised to show […]
Read moreU.S. worker productivity increased less than initially thought in the first quarter, while growth in unit labor costs was a bit stronger, supporting views that inflation pressures were steadily building up. The Labor Department said on Wednesday nonfarm productivity, which measures hourly output per worker, rose at a 0.4 percent annualized rate in the January-March […]
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Microsoft has deployed a submarine-like data center into the waters off the coast of Orkney, a group of islands located off Scotland. The tech giant said Wednesday that it had sunk the 40-foot-long vessel from the European Marine Energy Center (EMEC), a research base focused on wave and tidal power. The aim is to improve […]
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The U.S. could be hit by new EU duties as early as July as the region responds to President Donald Trump’s decision to impose metal tariffs on Europe. The European Commission — which is responsible for trade negotiations on behalf of the EU’s 28 member states — said Wednesday that it is working on new […]
Read moreIt took a few weeks, but borrowers finally took notice of a drop in mortgage interest rates. After falling for a month, mortgage application volume jumped 4.1 percent last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted report. Volume was 2 percent lower than a year ago, largely due to […]
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