The United States is an economic powerhouse. As the largest economy in the world, the U.S. produced $20.5 trillion worth of goods and services — known as its Gross Domestic Product (GDP) — in 2018. That’s impressive when you consider that the total GDP for the entire world was about…
The U.S. federal government posted a $234 billion budget deficit in February, according to data released Friday by the Treasury Department. Analysts polled by Reuters had expected a $227 billion deficit for the month. The Treasury said federal spending in February was $401 billion, up 8 percent from the same…
Less than a week after a series of critical tweets from the president over an Ohio plant closure, General Motors is announcing plans to add 400 jobs and build a new electric vehicle at a factory north of Detroit. The company says it will spend $300 million at its plant…
Malaysian Prime Minister Mahathir Mohamad arrived Thursday in Pakistan on an official three-day visit, where his high-powered delegation is expected to finalize investment deals worth nearly $900 million, officials said. The Malaysian leader will also be the chief guest at the Pakistan Day military parade Saturday, the Foreign Ministry announced. …
The number of Americans filing applications for unemployment benefits fell more than expected last week, pointing to still strong labor market conditions, though the pace of job growth has slowed after last year’s robust gains. Other data on Thursday showed a measure of factory activity in the mid-Atlantic region rebounding…
China says a high-ranking U.S. delegation will travel to Beijing next week to resume negotiations aimed at resolving the ongoing trade war between the world’s two leading economies. Commerce Ministry spokesman Gao Feng announced Thursday that U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will visit the Chinese…
The Federal Reserve left its key interest rate unchanged Wednesday and projected no rate hikes in 2019, dramatically underscoring its plan to be “patient” about any further increases. The Fed said it was keeping its benchmark rate — which can influence everything from mortgages to credit cards to home equity…
U.S. tariffs on China are likely to remain in place for a while even if a trade deal is reached, President Donald Trump told reporters on Wednesday. “The deal is coming along nicely,” the president said about the ongoing trade talks with Beijing, noting U.S. Trade Representative Robert Lighthizer and…
German automaker BMW said Wednesday that profits in 2019 would be “well below” last year’s and that it planned to cut 12 billion euros ($13.6 billion) in costs by the end of 2022 to offset spending on new technology. The company said profits would be eroded by higher raw materials…
Mexican President Andres Manuel Lopez Obrador says talks with White House senior adviser Jared Kushner have led to advances toward an agreement that would have the U.S. government guarantee some $10 billion in development investments for Mexico and Central America. Lopez Obrador said Wednesday that the investments would aim to…
General Motors said on Tuesday it would invest $2.7 billion in two Brazilian factories over the next five years, sparing them from a shakeup of the automaker’s operations, a decision hailed by the governor of Brazil’s largest state. Sao Paolo state Governor Joao Doria told a joint news conference with…
Saudi Arabia said on Tuesday it would spend 86 billion riyals ($23 billion) to boost the quality of life in the capital Riyadh, increasing green space and recreational areas and installing 1,000 works of art across the city. The four projects unveiled are part of efforts to open up Saudis’…
A senior U.S. official says Washington is monitoring ships involved in clandestine transfers of Iranian oil and will hold anyone involved in such transfers responsible for violating U.S. sanctions against Iran. “We are closely tracking ship-to-ship transfers of [Iranian] oil to evade our oil sanctions,” said Deputy Assistant Secretary of…
Investigators into the Boeing 737 MAX crash in Ethiopia have found striking similarities in a vital flight angle with an airplane that came down off Indonesia, a source said, piling pressure on the world’s biggest planemaker. The Ethiopian Airlines disaster eight days ago killed 157 people, led to the grounding…
Paris and Hong Kong for the first time joined Singapore as the world’s most expensive cities to live in, a study revealed on Tuesday, with utilities and transport driving up the cost of living. Zurich, Geneva and Japan’s Osaka trailed closely, with emerging market cities like Istanbul and Moscow plummeting…
