Banking & Finance
The latest coverage of the banking and financial sectors.
Bruised, battered dollar still the world’s irreplaceable currency of choice
The dollar is winning, despite its detractors.
U.S. adds only 29,000 jobs in lackluster September report
The U.S. added only 29,000 jobs in September, the government said in its final employment report before the midterm elections.
Trump strikes back at Canada with potential Belarus fertilizer deal
President Trump announced Monday that the U.S. is working on a deal to buy potash, a key fertilizer ingredient, from Belarus as he looks to ramp up his trade war with Canada, the world’s largest fertilizer producer.
Wall Street drifts lower as bond yields rise and oil prices swing
Wall Street is drifting lower toward the finish of an up -and- down week on Friday, and U.S. stock indexes are mixed as bond yields rise and oil prices swing.
Retail politics: Trump tariffs rattle Republicans’ usually reliable business vote
The Retail Association of Nevada has yanked its endorsement of Gov. Joe Lombardo, a Republican it backed in the 2022 election, saying someone needs to pay a political price for President Trump’s tariffs that are walloping the business sector.
Warren Buffett steps down as Berkshire Hathaway chairman, a post he has held since 1970
Warren Buffett is stepping down as chairman of Berkshire Hathaway after serving in the role for more than 50 years.
Peter Navarro: Fed made ‘inexplicable’ error in raising rates during energy price surge
White House senior counselor Peter Navarro said Thursday that the Federal Reserve made a “monumental mistake” by raising interest rates during an energy price shock.
Trump threatens to hit EU with new tariffs over Canada overture
President Trump is threatening to impose new tariffs on products from the European Union if he concludes the bloc’s proposal to make Canada its first “associate member” amounts to a hostile act toward the U.S.
Fed raises rates by quarter-point to tame inflation, risking Trump’s ire before November election
The Federal Reserve raised interest rates Wednesday for the first time in three years, attempting to control inflation with a move that defied President Trump’s wishes and clashed with his upbeat economic message to midterm voters.
Containers fall off ship at Port of Los Angeles
Three 40-foot shipping containers fell off a ship into the water at the Port of Los Angeles on Monday.
Industries point to gains, leverage under Trump’s Canadian tariffs
President Trump’s tariffs on Canada are creating clear winners and uneasy allies, with steel and lumber producers embracing the protection while alcohol and dairy groups see the levies as a bargaining chip to push Ottawa to the negotiating table.
Prices climbed slightly in August as Fed weighs interest-rate increase
Consumer prices rose 0.4% in August after rising 0.1% in July, driven by surging fuel costs from the war against Iran, the government said in a closely watched update.
Wholesale prices rise slightly in August, as the Federal Reserve weighs rate increase
Wholesale prices rose 0.4% in August, the government said Thursday in a key inflation report that aligned with expectations.
Spirits council hopes Trump ban spurs trade talks, not mutual pain for U.S., Canadian distillers
A major lobby for U.S. distillers said Wednesday that President Trump’s ban on Canadian alcohol imports must lead to a positive resolution for both nations, rather than a bitter cycle of revenge.
Canada follows through on threat to impose tariffs on nearly $28 billion in U.S. goods
Canada made good Tuesday on its pledge to impose retaliatory tariffs on a suite of U.S. goods, hitting American dairy, furniture, appliances and other goods with levies ranging from 15% to 50%.