Gunmaker American Outdoor Brands says it ‘shares the nation’s grief’ over Florida massacre

Gunmaker American Outdoor Brands says it ‘shares the nation’s grief’ over Florida massacre

American Outdoor Brands, parent company of gun maker Smith & Wesson, responded to the February mass shooting in Parkland, Florida that killed 17 people, in its third quarter earnings call. CEO James Debney concluded remarks by commenting on the “horrific tragedy” in Parkland, Florida. “We share the nation’s grief over this incomprehensible and senseless loss of life and we share the desire to make our community safer,” he said. “Through our membership and work with…

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Georgia lawmakers pull airline tax break after Delta killed NRA discounts

Georgia lawmakers pull airline tax break after Delta killed NRA discounts

Georgia lawmakers on Thursday approved a tax bill that stripped out a jet-fuel tax exemption, a blow to Atlanta-based Delta Air Lines, days after the carrier decided to end airfare discounts for National Rifle Association members in the wake of the shooting massacre at a south Florida high school last month. Georgia’s lieutenant governor, Casey Cagle, who presides over the state’s senate, on Monday said he would “kill” any tax legislation that benefits Delta. The…

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Cramer: Worries about the Trump tariffs are far too extreme

Cramer: Worries about the Trump tariffs are far too extreme

After President Donald Trump announced his plan to place tariffs on steel and aluminum imports and markets plunged in response, CNBC’s Jim Cramer knew he had to cut through the noise. “We need to approach these trade sanctions, ones that will impact multiple so-called trading partners, in two ways. First, I’ll put on my Cassandra hat to … spell out the worst-case scenario,” the “Mad Money” host said. “Then I’ll tell you my feelings, my…

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Trump’s tariffs may anger China and here’s how they may retaliate

Trump’s tariffs may anger China and here’s how they may retaliate

China will likely enact its own duties that would hurt U.S. exporters, now that President Donald Trump has announced tariffs on steel and aluminum imports, analysts said. “I believe that China would stick to trade responses by raising tariffs on select U.S. products that would hurt U.S. exporters, particularly in agriculture sector,” Wendy Cutler, vice president at the Asia Society Policy Institute and former Acting Deputy U.S. Trade Representative, said in a statement to CNBC….

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Steel tariffs may raise cost of energy projects and delay pipeline building, critics say

Steel tariffs may raise cost of energy projects and delay pipeline building, critics say

Though steelmaker stocks rose sharply after President Donald Trump announced steep tariffs on aluminum and steel from overseas, energy companies and pipeline makers will likely take a hit. The U.S. oil and natural gas industry depends on specialty steel for many of its infrastructure projects, and U.S. steelmakers don’t supply it, said Jack Gerard, the CEO of the American Petroleum Institute, a trade association for the industry. “The actions taken today are inconsistent with the…

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Trump trade ally vehemently defends tariffs: The president ‘is just getting started’

Trump trade ally vehemently defends tariffs: The president ‘is just getting started’

The tariffs announced by President Donald Trump on Thursday most likely won’t be the last from the administration, according to former Trump trade advisor Dan DiMicco. The United States will impose a 25 percent tariff for steel and a 10 percent tariff for aluminum as early as next week. “Trump is just getting started when it comes to trade,” said DiMicco, former CEO of steel producer Nucor. Other targets could be “very critical industries that…

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Nordstrom to report earnings after the bell

Nordstrom to report earnings after the bell

Nordstrom is expected to report its fourth-quarter earnings after the bell on Thursday. Here’s what Wall Street expects: *EPS: $1.24, according to Thomson Reuters*Revenue: $4.62 billion, according to Thomson Reuters*Other metrics: 1.1% same store sales increase, according to StreetAccount Nordstrom is in the midst of its effort take the company private. The company has been looking to round up financing for those efforts, but it remains challenging to do so in today’s retail environment. Still,…

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With surprise tariffs, Trump rolls the dice with the US economy

With surprise tariffs, Trump rolls the dice with the US economy

President Donald Trump signaled Thursday that he will roll the dice with his single strongest asset: the growing U.S. economy. After hours of chaos at the White House, Trump told industry executives he will impose tariffs of 25 percent on imported steel and 10 percent on imported aluminum. The market decline that quickly followed that announcement demonstrated the new uncertainty that the president injected into the outlook of an economic recovery boosted by the new…

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Wall Street is overreacting to the tariff news, Barclays economists say

Wall Street is overreacting to the tariff news, Barclays economists say

As long as the Trump administration’s steel and aluminum tariffs do not trigger an all-out trade war, the economic impacts will be minimal, according to an analysis by Barclays Research. On their face, the added levies would boost inflation measures by one-tenth of a percentage point while reducing annual GDP growth by one or two tenths, Barclays said in a note that assumes the moves would not have massive repercussions from U.S. trading partners. The…

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EPA chief Scott Pruitt says he’ll fly coach following scrutiny over first-class flights

EPA chief Scott Pruitt says he’ll fly coach following scrutiny over first-class flights

Environmental Protection Agency Administrator Scott Pruitt says he will start flying coach after a series of news reports drew attention to his high-cost travel habits. In response to those reports, the EPA said Pruitt had flown first or business class on the recommendation of his security detail. That advice followed several unspecified incidents during previous trips and an unusual number of threats leveled at the Trump appointee. “These threats have been unprecedented from the very…

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