Former chief strategist and campaign manager Steve Bannon‘s departure from the Trump White House surely does not mean an end to the demagogic racial politics in which Donald Trump has trafficked for decades. It does, however, seem to mark the final eclipse of the notion that Trump would move beyond demagoguery and construct a vision […]
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The Trump administration’s crackdown on immigration policy is contributing to a slowdown in Hispanic consumer spending, according to a recent Wall Street report. “Numerous consumer companies flagged weak spending from Hispanic consumers this earnings season,” wrote researchers at Jefferies. “Weakness doesn’t appear to be a result of a deteriorating macro backdrop; rather, it’s likely because […]
Read moreSenate Majority Leader Mitch McConnell‘s insistence that the U.S. government will not default on its debt may have laid the ground work for a potential rally, CNBC’s Jim Cramer said Tuesday. During a public event Monday in Kentucky with Treasury Secretary Steven Mnuchin, McConnell said there was “zero chance — no chance” that Congress would […]
Read moreA subsidiary of Dubai’s luxury real estate developer DAMAC International is building a 50-storey skyscraper in the U.K.’s capital city in partnership with Italian fashion house Versace called AYKON London One. “AYKON London One is our premiere international development outside of the Middle East and a landmark project for the UK’s capital,” said Hussain Sajwani, […]
Read moreAs Wall Street strategists intensify warnings about a looming market pullback, corporate insiders aren’t showing any fear. The recent dip in major averages has brought insiders off the sidelines, even though the S&P 500 was down just a little more than 2 percent from its all-time high heading into Tuesday trading. Argus Research tracks the […]
Read moreWall Street rarely talks about its mistakes, but Deutsche Bank admitted it overestimated the Amazon Web Services threat to VMware’s business. The firm raised its rating for VMware shares on Monday to buy from hold, saying the company’s server virtualization software can continue to thrive in a cloud-computing world. “We’ve spent much of the last […]
Read moreThere comes a time in every presidential administration in which politics and economics become intertwined to the point which the combination of the two creates an inflection point. The action last week in both stocks and bonds suggest that we have arrived at that crucial juncture. The volatility of the last few weeks is directly […]
Read moreCurrency, United States Finance
Difficult for Trump’s decision to send troops to Afghanistan ‘to be a win,’ former UK ambassador says.
It will be very difficult to see the U.S. winning in Afghanistan but President Donald Trump had no easy options, Peter Westmacott, former U.K. ambassador to the U.S., told CNBC Tuesday. President Trump changed his mind and announced Monday that the U.S. was stepping up its military intervention in Afghanistan. Though he did not clarify […]
Read moreMedical device maker Medtronic reported a 9.4 percent increase in quarterly profit on Tuesday, driven by strong demand for its heart and vascular devices. Net income attributable to Medtronic rose to $1.02 billion, or 74 cents per share in the first quarter ended July 28, from $929 million, or 66 cents per share, a year […]
Read moreTD Ameritrade has launched a “chatbot,” an automated program that can communicate with the brokerage’s customers on Facebook’s messaging application, to give them information about markets and their accounts. TD Ameritrade’s chatbot uses artificial intelligence and machine learning to respond to natural language messages from users on Facebook Messenger about their investments and stock prices, […]
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