Sources: Sebastian Gorka to leave White House

Sebastian Gorka, a controversial national security aide in the White House, is expected to leave his job, several administration officials confirm to CNN. One senior administration official said Gorka is expected to find an opportunity outside the White House soon. Another said it’s possible he would take another job in the administration, but added it’s more likely he will leave altogether. Continue reading “Sources: Sebastian Gorka to leave White House”

Le Pen Targets Left-Wing Voters With Attack on Finance

Far-right French presidential candidate Marine Le Pen increased her rhetoric against global finance on Monday in an effort to rally leftist voters as the National Front leader continues to trail her rival Emmanuel Macron in polls. With six days to go until Sunday’s runoff, Ms. Le Pen used a rally in northern Paris to paint Mr. Macron, a former investment banker, as a proxy for a “wild globalization” that has been widely rejected by French left-wing voters. Continue reading “Le Pen Targets Left-Wing Voters With Attack on Finance”

Pence: Tax plan could increase deficit ‘maybe in the short term’

Vice President Mike Pence on Sunday morning acknowledged that the Trump administration’s tax proposal could increase the deficit, at least at first. “Maybe in the short term,” he said during an exclusive interview on NBC’s “Meet The Press,” while predicting that it would eventually be overcome by economic “growth.” Continue reading “Pence: Tax plan could increase deficit ‘maybe in the short term’”

London’s Deflating House Price Bubble Gets Messier

London’s Deflating House Price Bubble Gets Messier Prices in this hotbed of global wealth fall most since 2009. London’s property market is estimated to be worth as much as the annual GDP of the world’s ninth biggest economy, Brazil. But prices are falling. The last time prices fell so sharply was in May 2009, when the global financial crisis was gaining steam. Continue reading “London’s Deflating House Price Bubble Gets Messier”

N. Korean missile test hours after UN meeting on nukes

A North Korean mid-range ballistic missile apparently failed shortly after launch Saturday, South Korea and the United States said, the third test-fire flop just this month but a clear message of defiance as a U.S. supercarrier conducts drills in nearby waters. North Korean ballistic missile tests are banned by the United Nations because they’re seen as part of the North’s push for a nuclear-tipped missile that can hit the U.S. mainland. Continue reading “N. Korean missile test hours after UN meeting on nukes”

Russian army puts its enormous new remote-controlled robot tank boasting a 30mm automatic gun and six missiles through its paces

The Russian army has been testing a remote-controlled tank at a military base. A video shows the unmanned robot scaling hills, dusty paths and flows of water. At the end of the footage the tank, named The Vikhr, fires from its 30 mm gun. A report from the SIPRI found that Russia is the third biggest military spender. Continue reading “Russian army puts its enormous new remote-controlled robot tank boasting a 30mm automatic gun and six missiles through its paces”

Experts: Long road ahead for Trump offshore drilling order

President Donald Trump’s executive order seeking to find new ocean expanses in the Atlantic and the Arctic for offshore drilling isn’t likely to reach its goals anytime soon, but instead will kick off a yearslong review and legal battle. Trump signed the order Friday aimed at dismantling a key part of former President Barack Obama’s environmental legacy. Continue reading “Experts: Long road ahead for Trump offshore drilling order”

Bailout or bust? Alitalia divides a nation, paralyzes Rome

Italians are watching their flag carrier Alitalia go into yet another financial tailspin, and a growing number of them believe it would be better for the country if it crashed. Outraged at repeated state bailouts that have cost taxpayers more than 7 billion euros ($7.62 billion) over a decade, many Italians are taking to social media to urge the government to resist the political temptation to rush to its rescue again. Continue reading “Bailout or bust? Alitalia divides a nation, paralyzes Rome”

China April manufacturing growth slows faster than expected

Growth in China’s manufacturing sector slowed faster than expected in April, an official survey showed on Sunday, as producer price inflation cooled and policymakers’ efforts to reduce financial risks in the economy weighed on demand. The National Bureau of Statistics’ official Purchasing Managers’ Index (PMI) fell to a six-month low of 51.2 in April from March’s near five-year high of 51.8. Continue reading “China April manufacturing growth slows faster than expected”

Turkish authorities block Wikipedia without giving reason

Turkey has blocked all access inside the country to the online encyclopaedia Wikipedia. Officials said “an administrative measure” had been taken, but gave no reason why. Turkish media said authorities had asked Wikipedia to remove content by writers “supporting terror”. Turkey has “temporarily blocked” social media sites including Facebook and Twitter in the past, usually following protests or terror attacks. Continue reading “Turkish authorities block Wikipedia without giving reason”

UK economy grows by 0.3% as service sector slows

The UK economy grew by just 0.3% at the start of the year, the slowest growth rate since the first three months of 2016, according to official figures. The Office for National Statistics said that the slower pace in the January-to-March period was due mainly to the service sector, which sank to 0.3% growth against 0.8% at the end of 2016. Continue reading “UK economy grows by 0.3% as service sector slows”

Facebook and Google confirmed as victims of $100M phishing scam

Last month, the Department of Justice charged a Lithuanian man for fraud, aggravated identity theft, and money laundering after documents revealed he scammed two major tech companies for over $100 million by masquerading as a Taiwanese electronics manufacturer. A Fortune report this week identified those two affected companies as Facebook and Google. Continue reading “Facebook and Google confirmed as victims of $100M phishing scam”

U.S. economic growth slower than France, ‘terrible’: BlackRock’s Fink

BlackRock Inc Chief Executive Officer Larry Fink on Friday sounded another warning on the U.S. economy after the government reported anemic growth in the first quarter. “We’re actually decelerating,” Fink, whose firm is the world’s biggest asset manager, said during a talk at the Morningstar Investment Conference in Chicago. Continue reading “U.S. economic growth slower than France, ‘terrible’: BlackRock’s Fink”

Trump complains Saudis not paying fair share for U.S. Defense

President Donald Trump complained that U.S. ally Saudi Arabia was not treating the United States fairly and Washington was losing a “tremendous amount of money” defending the kingdom. In an interview with Reuters, Trump confirmed his administration was in talks about possible visits to Saudi Arabia and Israel in the second half of May. Continue reading “Trump complains Saudis not paying fair share for U.S. Defense”

Trump fears ‘major, major conflict’ with North Korea

US President Donald Trump has said he would like to solve the North Korea crisis diplomatically, but that a “major, major conflict” is possible. China’s foreign minister called for negotiation and dialogue. The UN Security Council is meeting to discuss North Korea on Friday and will consider further measures to counter its nuclear and missile programmes. Continue reading “Trump fears ‘major, major conflict’ with North Korea”

US budget: Shutdown averted by Congress bill

The US Congress has passed a stop-gap spending bill to keep the government running an extra week. It will now go to the White House for the president’s signature, and will buy Congress time to reach a deal to fund the government until September. It came just hours before a funding deadline expired, threatening a second government shutdown in four years. Continue reading “US budget: Shutdown averted by Congress bill”

Paul Ryan Under Fire as Health Care Is Delayed Again

Speaker of the House Paul Ryan’s (R-WI) leadership was called into question by new voices Thursday night as hopes expire of passing a bill to repeal and replace Obamacare before President Donald Trump’s first 100 days end on Saturday. At a meeting on the Hill late Thursday night, the speaker and his House Republican leadership team decided to further delay the vote. Continue reading “Paul Ryan Under Fire as Health Care Is Delayed Again”

Trump says ‘major, major’ conflict with North Korea possible, but seeks diplomacy

U.S. President Donald Trump said on Thursday a major conflict with North Korea is possible in the standoff over its nuclear and missile programs, but he would prefer a diplomatic outcome to the dispute. “There is a chance that we could end up having a major, major conflict with North Korea. Absolutely,” Trump told Reuters in an Oval Office interview ahead of his 100th day in office on Saturday. Continue reading “Trump says ‘major, major’ conflict with North Korea possible, but seeks diplomacy”

FLIP FLOP Trump now loves Wall Street

Donald Trump used to hate Wall Street. Not anymore. On the campaign trail, he slammed Wall Street for “getting away with murder.” He vowed to break up the big banks and force the finance guys to pay higher taxes. His final campaign ad showed ominous photos of the New York Stock Exchange and the CEO of Goldman Sachs and proclaimed it was time to put an end to the political and business elites that have “bled our country dry.” Continue reading “FLIP FLOP Trump now loves Wall Street”

Flip FLOP In Trump’s White House, policy can be shaped by the last CEO he met

“He finds himself changing his mind based on who he is talking with rather than a deep independent [policy] analysis,” says GW professor Michael Cohen. Just a day before Trump announced he would revive the Export-Import Bank he met with former Boeing CEO Jim McNerney, who supported the bank. Continue reading “Flip FLOP In Trump’s White House, policy can be shaped by the last CEO he met”

The market is now a ‘binary bet on Trump and nothing else,’ claims macro trader

Some strategists have argued that the market has gone higher in part because investors are hoping for a lot from the Trump administration – corporate tax cuts, infrastructure spending and leaning away from protectionist ideals that could derail international trade relations. Continue reading “The market is now a ‘binary bet on Trump and nothing else,’ claims macro trader”

Trump’s tax plan alone won’t get him the 3% economic growth he hopes for, Mohamed El-Erian warns

“You need more,” the Allianz chief economic advisor argues, citing infrastructure spending and the need to boost productivity. The White House has not released enough details of President Trump’s tax plan to make a full economic forecast, El-Erian says. “I think we’re going to see the details in the next few weeks,” he predicts. Continue reading “Trump’s tax plan alone won’t get him the 3% economic growth he hopes for, Mohamed El-Erian warns”

U.S. trade deficit widens in March

An early look at U.S. trade patterns in March shows a 1.4% widening in the nation’s trade deficit. The trade gap in goods—services are excluded—widened to $64.8 billion in March from $63.9 billion in February, the government said Thursday in its advanced report. This widening of the deficit only partially reversed a sharp narrowing in February. Continue reading “U.S. trade deficit widens in March”

Vince joins Sears in flagging ‘substantial doubt’ it can stay in business

Shares of luxury fashion brand Vince tumbled as much as 40 percent Friday, after the company said it has “substantial doubt” about its ability to continue as a going concern for the next 12 months. Its warning comes roughly one month after struggling department store Sears made the same statement in its annual filing with the Securities and Exchange Commission. Continue reading “Vince joins Sears in flagging ‘substantial doubt’ it can stay in business”

George Soros ‘Has Ruined the Lives of Millions of Europeans’ Says Hungarian Prime Minister

Hungarian Prime Minister Viktor Orbán delivered a stinging speech in the European Parliament Wednesday, asserting Hungary’s right to self-governance and defending its actions regarding immigration and against American financial speculator George Soros. Continue reading “George Soros ‘Has Ruined the Lives of Millions of Europeans’ Says Hungarian Prime Minister”

Hill Republicans think Trump’s tax plan: ‘Not even close’ to reform

Despite a positive public front, congressional Republicans are quietly voicing frustration that President Donald Trump’s big tax announcement Wednesday emanated from a disjointed process — and lacked crucial components necessary in the push to secure the first major tax reform in more than 30 years. Continue reading “Hill Republicans think Trump’s tax plan: ‘Not even close’ to reform”

Commerce Secretary Ross to announce plan to probe imported aluminum: Source

Commerce Secretary Wilbur Ross will unveil a new investigation into imported aluminum, as it relates to U.S. national security. President Donald Trump signed a similar directive last week regarding foreign-made steel. Commerce Secretary Wilbur Ross is expected to announce a new probe into imported aluminum, a senior administration official told CNBC. Continue reading “Commerce Secretary Ross to announce plan to probe imported aluminum: Source”

Poll: Huge Shift in Sweden as Majority Now Want Fewer Asylum Seekers

The mood on migration in Sweden appears to have shifted dramatically this year, with a majority of people now saying they want the Nordic nation to take in fewer asylum seekers. The most recent survey, conducted in autumn and winter, found that 52 per cent of respondents said Sweden should slow the migrant flow, with only 26 per cent opposed to the idea. Continue reading “Poll: Huge Shift in Sweden as Majority Now Want Fewer Asylum Seekers”

Julian Assange: The CIA Director Is Waging War on Truth-Tellers Like WikiLeaks

Writing at the Washington Post, WikiLeaks editor Julian Assange argues the CIA is declaring war on free speech by targeting WikiLeaks in retaliation for the exposure of embarrassing information included in the organization’s Vault 7 data dump on the CIA: Mike Pompeo, in his first speech as director of the CIA, chose to declare war on free speech rather than on the United States’ actual adversaries. Continue reading “Julian Assange: The CIA Director Is Waging War on Truth-Tellers Like WikiLeaks”

Surging gasoline stockpiles undercut bullish drop in US crude inventories

U.S. gasoline stockpiles surged by 3.4 million barrels last week. Refiners increased activity despite relatively weak gasoline demand. Analysts worry refiners are teeing up a fuel glut and sabotaging the gasoline market. Oil prices rallied on Wednesday after the U.S. government reported a bigger-than-expected drop in crude stockpiles, but there’s trouble brewing elsewhere in the energy complex. Continue reading “Surging gasoline stockpiles undercut bullish drop in US crude inventories”

Trump’s 15% corporate tax rate could cost the government $2 trillion

If President Donald Trump does propose slashing the U.S. corporate tax rate to 15%, as reports have suggested, one estimate is that it could cost the government some $2 trillion in lost revenue. Trump is preparing to roll out what he’s called a “big tax reform and tax reduction” package on Wednesday, and one of the details that has leaked out is cutting the corporate rate to 15% from 35%. Continue reading “Trump’s 15% corporate tax rate could cost the government $2 trillion”

Trump’s tax cut plan only pays for itself with growth in ‘fairyland’

President Trump wants Congress to slash corporate taxes. The administration insists the cuts will “pay for themselves” with faster economic growth. Critics say that math only works in “fairyland.” President Donald Trump’s call to slash business tax rates will no doubt win wide support in American corporate boardrooms. Continue reading “Trump’s tax cut plan only pays for itself with growth in ‘fairyland’”

U.S. Steel suffers biggest stock plunge in its 26-year public history

Shares of U.S. Steel Corp. plunged 25% in morning trade Wednesday, putting them on course to suffer the biggest one-day selloff since they went public in April 1991, after the steelmaker reported a surprise quarterly loss. The previous biggest one-day drop was 18% on Oct. 15, 2008. Continue reading “U.S. Steel suffers biggest stock plunge in its 26-year public history”