President’s Growing Trade Gap: A Gulf Between Talk and Action

Increasingly, when it comes to foreign trade, the Trump administration is talking loudly and brandishing a small stick. The widening gap between President Trump’s bellicose talk and the modest actions of his administration was again on display Friday afternoon as he presided at the ceremonial signing of two executive orders. They would, he said, ”set the stage for a great revival of American manufacturing.” ”Under my administration, the theft of American prosperity will end,” he said. Continue reading “President’s Growing Trade Gap: A Gulf Between Talk and Action”

Money borrowed to buy stocks hits record

Investors continue to bet big on the Wall Street bull, at a time when stocks are hovering near records but have been unable to break through to fresh peaks. The latest data from the New York Stock Exchange show margin debt, or cash borrowed to buy shares, hit a record $528.2 billion in February, up from its prior high of $513.3 billion in January. Borrowing money to buy stocks is a sign that investors remain optimistic the market will continue to rise. Continue reading “Money borrowed to buy stocks hits record”

Wells Fargo still faces over a dozen probes tied to fake account scandal

Wells Fargo is trying to repair its relationship with customers and employees. But standing in the way are a series of question marks still hovering over the bank. Six months after the fake account scandal erupted, Wells Fargo still faces more than a dozen investigations, inquiries and lawsuits related to its notorious sales tactics and alleged mistreatment of workers. Continue reading “Wells Fargo still faces over a dozen probes tied to fake account scandal”

US consumer spending up tiny 0.1 percent in February

U.S. consumers increased their spending at the weakest pace in six months, while the 12-month rise in consumer prices was the largest in nearly five years. Consumer spending edged up 0.1 percent in February following a similarly sluggish 0.2 percent increase in January, the Commerce Department reported Friday. The small gains suggest that overall economic growth likely slowed in the first quarter. Continue reading “US consumer spending up tiny 0.1 percent in February”

Fed’s Kaplan sees risk Washington could derail the expansion

In an interview with MarketWatch, Kaplan said he was worried about policy, such as on trade or healthcare, that would cause consumers to pull back. The renewed capacity of consumers to spend, eight years after the financial crisis, has been the “key underpinning” to the better economic outlook, he said. “We’re finally in a situation where the consumer capacity to spend is in pretty good shape,” said Kaplan, who is voting on the Federal Open Market Committee this year for the first time. Continue reading “Fed’s Kaplan sees risk Washington could derail the expansion”

Commerce’s Wilbur Ross says the US is already in a trade war

The United States will no longer bow to the rest of the world on trade because President Donald Trump plans to act, Commerce Secretary Wilbur Ross told CNBC on Friday. “We are in a trade war. We have been for decades. The only difference is that our troops are finally coming to the rampart. We didn’t end up with a trade deficit accidentally,” he said, warning about the consequences of doing nothing. Continue reading “Commerce’s Wilbur Ross says the US is already in a trade war”

Chase had ads on 400,000 sites. Then on just 5,000. Same results.

As of a few weeks ago, advertisements for JPMorgan Chase were appearing on about 400,000 websites a month. It is the sort of eye-popping number that has become the norm these days for big companies that use automated tools to reach consumers online. Now, as more and more brands find their ads popping up next to toxic content like fake news sites or offensive YouTube videos, JPMorgan has limited its display ads to about 5,000 websites it has preapproved, said Kristin Lemkau, the bank’s chief marketing officer. Continue reading “Chase had ads on 400,000 sites. Then on just 5,000. Same results.”

California Transgender Inmates May Soon Be Given Bras, Mascara, Lip Gloss

Men’s prisons in California may soon provide access to bras, mascara, and lip-gloss for inmates who identify as transgender. Women’s prisons would also be equipped with boxers and aftershave, according to rules introduced by the Department of Corrections. The rules stem from a lawsuit brought against the state by a murderer serving a life sentence, who was the first inmate in the state to receive taxpayer-funded sex change surgery. Continue reading “California Transgender Inmates May Soon Be Given Bras, Mascara, Lip Gloss”

Trump’s orders target trade abuses, import duty evasion

U.S. President Donald Trump sought to push his crusade for fair trade and more manufacturing jobs back to the top of his agenda on Friday by ordering a study into the causes of U.S. trade deficits and a clampdown on import duty evasion. The executive orders came a week after Trump’s promise to replace Obamacare imploded in Congress and a week before he meets with Chinese President Xi Jinping in Florida, a summit that promises to be fraught with trade tensions. Continue reading “Trump’s orders target trade abuses, import duty evasion”