2h ago
       

China files WTO challenge to US tariffs on solar panels

The solar duties are separate from tariff hikes imposed by the Trump administration starting in July on Chinese imports in response to complaints Beijing steals or pressures companies to hand over technology. The U. S. solar action "seriously damaged China's trade interests" and "also affects the seriousness and authority of WTO rules," said a Commerce Ministry statement. Earlier, Beijing filed a separate WTO challenge on July 16 to Trump's proposal for yet another round of increases that would add 25 percent import duties on an additional $200 billion of Chinese goods.
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21h ago
       

Tesla forms committee to assess proposal to go private

Tesla is forming a special committee to evaluate proposals to take the company private one week after CEO Elon Musk said he was considering it. The committee, made up of three independent directors, said Tuesday that it has not received any formal proposal from Musk. Musk tweeted on Aug. 7 that he had "funding secured" to buy Tesla shares at $420 per share.
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2d ago
       

Turmoil in Turkey sends US and European stocks sharply lower

Stocks in the U. S. and Europe skidded Friday as investors worried about the financial stability of Turkey and how it might affect the global banking system. Alex Dryden, global markets strategist for JPMorgan Asset Management, said Erdogan showed no signs of changing course Friday, and investors are losing hope that Turkey's government has the knowledge or independence needed to deal with the country's financial problems. While Dryden and other analysts say Turkey's problems aren't a major risk to the financial system, investors didn't wait to find out Friday.
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3d ago
       

How major US stock indexes fared Friday

For the week: The SP 500 lost 7. 07 points, or 0. 2 percent. The Russell 2000 gained 13. 43 points, or 0. 8 percent. For the year: The SP 500 is up 159. 67 points, or 6 percent.
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6d ago
       

Teen chef tackles new culinary mission: Opening a NYC restaurant

Gem is six months old and was recently reviewed for the first time by The New York Times, which called McGarry’s cooking “nuanced” and his plating “lyrical,” mentioning that he was “more polished as a chef than a restaurateur. ”ABC News Chef Flynn McGarry offers a 15-course dinner at his NYC restaurant Gem. ABC News As head chef, business owner and manager of Gem, it's easy to forget that Flynn McGarry is still younger than most of his staff.
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1w ago
       

Open jobs outnumber US unemployed for 3rd straight month

U. S. employers posted slightly more openings in June than the previous month, resulting in more available jobs than unemployed people for the third straight month, signaling a solid economy. Last week, the government said that employers added 157,000 jobs in July and the unemployment rate fell to 3. 9 percent, near an 18-year low. With job openings outnumbering the unemployed, companies should be bidding up wages to attract and keep workers.
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1w ago
       

WATCH: Facebook stock plummets nearly 20 percent in 2 days

ABC even pilgrim is here and Eva some investors are now calling for founder Mark Zuckerberg to step down. FaceBook stocks plummeting an astounding 19% the company losing a historic 119 billion dollars in just 24 hours. It was previously number four on forbes' list of billionaires personally lost more than fifteen billion in stock on Thursday that drops him down.
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1w ago
       

US mends ties with allies, prepares for trade war with China

NAFTA did away with most barriers, including tariffs, on trade between the U. S. , Canada and Mexico. The most obvious is Trump's push to require that autos contain more content made within the NAFTA trade bloc and specifically from countries that pay high wages (that is, not Mexico) to qualify for duty-free status under the agreement. The Trump administration last week pulled back from the brink of a trade war with the European Union, suspending planned tariffs on European autos while it talks with the EU about tearing down trade barriers.
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2w ago
       

US businesses cast wider net as jobless rate hits 3.9 pct.

After remaining elevated for years after the Great Recession, the number of part-time workers who would prefer full-time work has fallen nearly 13 percent in the past year and now stands at 4. 6 million. More hours has helped lift average weekly earnings for retail workers in the past year more quickly than for workers overall. And the underemployment rate — which includes discouraged workers no longer searching for work, as well as involuntary part-time workers — dropped to 7. 5 percent, the lowest in 17 years, from 7. 8 percent.
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2w ago
       

US employers add 157,000 jobs, jobless rate hits 3.9 pct.

Employers added an average of 224,000 new workers in the first six months of this year, a faster pace than in 2017. The number of part-time workers who would prefer full-time work has fallen nearly 13 percent in the past year and now stands at 4. 6 million. The economy is projected to grow at about a 3 percent pace for the rest of the year, which would likely mean that growth for all of 2018 would top 3 percent for the first time since 2005.
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