Sen. Tammy Duckworth, D-Ill., hit back at President Donald Trump after he claimed Democrats were hurting the U.S. military by causing a government shutdown. Duckworth, in a speech on Saturday, called Trump a “five deferment draft-dodger” and “Cadet Bone Spurs” — a reference to the medical diagnosis the president received […]
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Toshiba said to be considering IPO for memory chip unit
Toshiba is considering an IPO of its prized memory chip business if an agreed $18 billion sale of the unit to Bain Capital fails to gain antitrust approval by the end of March, the Financial Times reported on Monday. The IPO is one of various contingency plans being looked at […]
Beijing mouthpiece: The US is forcing China to accelerate deployments in a disputed waterway
China’s top newspaper, decrying Washington as a trouble-maker, said on Monday U.S. moves in the South China Sea like last week’s freedom of navigation operation will only cause China to strengthen its deployments in the disputed waterway. China’s foreign ministry said the USS Hopper destroyer came within 12 nautical miles […]
Icahn, Deason call on Xerox to explore options, including sale
Hedge fund investor Carl Icahn and another major owner of Xerox stock, Darwin Deason, are pushing the digital print technology provider to explore strategic alternatives, including a sale, the Wall Street Journal reported on Sunday. Icahn and Deason also want Xerox Chief Executive Jeff Jacobson to be removed from his […]
Asian stocks record slight declines; investors focus on political developments
Asian markets traded lower early on Monday as investors kept an eye on political developments in the U.S. after a government shutdown began last week. Meanwhile, the euro and pound both traded higher following weekend political moves. Japan’s Nikkei 225 hovered around the flat line in the early going. Automakers […]
US stock futures fall on the government shutdown
Stock futures fell on Sunday as the U.S. government remained shut down. Dow Jones industrial average futures declined 32 points and briefly fell as much as 101 points. S&P 500 and Nasdaq 100 futures drop 3 points and 5 points, respectively. The U.S. government shut down Saturday after a bill […]
Trump reportedly thinks Wilbur Ross has done a bad job as Commerce secretary
President Donald Trump has been so disappointed with Wilbur Ross‘s performance as Commerce secretary that he has humiliated him in meetings, ripping the former Wall Street investor’s inability to secure satisfying trade deals, Axios reported Sunday, citing sources. “Your understanding of trade is terrible. Your deals are no good. No […]
How John Kelly’s White House made ‘build a wall’ seem moderate
In an exasperated statement to reporters Sunday, Sen. Lindsey Graham (R-SC) identified the root of the problem in stalled negotiations between the White House and the Senate: the White House itself is divided on immigration, with hardliners dominating the discussion. On one side, there are Trump’s most conservative advisers — […]
Bitcoin could lose 90% of its value, Wall Street veteran Peter Boockvar warns
Wall Street veteran Peter Boockvar predicts an epic crash will hit the cryptocurrency market. He isn’t sure if it’ll come to a grinding halt or be a slow and steady drop — but he says it’s coming. Boockvar, chief investment officer at Bleakley Advisory Group, is certain crypto is in […]
Retail under Trump: More cash, different problems
The Tax Cuts and Jobs Act is going to put more cash in the pockets of many retailers, but it’s not going to save the industry or its employees. Lowering the corporate tax rate from 35 percent to 21 percent disproportionately impacts the largely domestic retail industry. The new law […]