U.S. stocks higher at close of trade; Dow Jones Industrial Average up 0.40%
At the close in NYSE, the Dow Jones Industrial Average rose 0.40%, while the S&P 500 index added 0.47%, and the NASDAQ Composite index added 0.87%.
Category: WORLD NEWS
Economists Are Bad At Predicting Recessions
Every president’s election-year nightmare — a recession — is suddenly looming over the 2020 race. In a survey released earlier this week by the National Association of Business Economics, 38 percent of economists predicted that the country will slip into an economic downturn next year, and another recent poll of economists put the chances of a recession in the next 12 months at 1 in 3. Those predictions are getting a lot of attention, and it’s not hard to see why — an economic slowdown in the middle of the presidential election cycle could reshape the race, potentially changing the calculus of Democratic primary voters and undermining President Trump, who has made the strong economy a central selling point of his presidency.
Everyone Tries To Dodge The Tax Man, And It Keeps Getting Easier
Al Capone was busted for tax evasion. Leona Helmsley was, too. But gangsters and entitled millionaires aren’t the only ones who hold something back from the tax man. Each year, Americans of all stripes underpay the IRS by hundreds of billions, aided by the fact that the agency lacks the resources to catch all the cheaters.
Puerto Rico government objects to moving forward with new debt plan
The U.S. commonwealth’s federally created financial oversight board had asked Judge Laura Taylor Swain to approve a schedule that would culminate with a confirmation hearing on a so-called plan of adjustment for Puerto Rico’s core government debt and pension obligations commencing in October.
U.S. meeting on Huawei, China policy still on for Thursday despite Trump tweets: sources
The deputy-level meeting was called to discuss issues including possible new restrictions on sales of chips made abroad to China’s blacklisted Huawei Technologies and on sales of airplane components to a Chinese aircraft maker.
Tariffs Can Work — When They’re Part Of A Plan
Republicans are in revolt. Economists on the left and right are deeply skeptical. President Trump’s top economic adviser resigned rather than be party to it. The culprit: tariffs, and specifically the president’s decision to slap duties on imported steel (25 percent) and aluminum (10 percent).
We Let Our Readers Practice International Trade. They Started A Bunch Of Trade Wars.
Why couldn’t we all just get along?
How To Win A Trade War
The tweet came before 6 a.m., as President Trump’s tweets often do. It was early March, and the Trump administration had just announced steep tariffs on imported steel and aluminum. That did not make China or America’s European allies happy. Last week, after the U.S. imposed tariffs on $60 billion worth of Chinese goods, it was reported that China would respond with their own tariffs on $3 billion of U.S. goods.
UBS to name ING’s Ralph Hamers as CEO: FT
Hamers will succeed Sergio Ermotti, who has been with the company for close to a decade, the FT reported.
What Issues Should Democrats Ignore In 2018?
Welcome to FiveThirtyEight’s weekly politics chat. The transcript below has been lightly edited.
