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A powerful storm is pounding America’s East Coast while a maelstrom of a different sort threatens global trade. U.S. President Donald Trump on Friday invited a trade war in the form of retaliation over his planned metals tariffs. Manufacturers and trade partners in Asia and Europe are livid, and American companies are really unimpressed.—Katie Robertson
Corporate America hates Trump's tariff proposal. Trump says his plan to slap tariffs on imported steel and aluminum will protect national security. But a broad swath of companies strongly disagree, saying the levies will boost prices at home on everything from cars to beer and force them to cut jobs.
Nor’easter pummels the East Coast. Wind, snow, and rain lashed New York City, Pennsylvania and northern New England, grounding more than 2,900 flights and leaving hundreds of thousands of homes and businesses without power. But the threat of flooding is the most concerning.
The latest tactic to sell condos. Builders of a boutique Brooklyn project are offering up an abatement of their own: they’ll pay your property taxes for 2.5 years. Mortgage rates are at a four-year high, and buyers are becoming more concerned about the homeownership costs.
Venezuelans are paying a 100% premium for cash. An inconvenience of living in an imploding economy: cash is so worthless it's become valuable again. Residents need paper money to buy food, but the government is too broke to print big bills fast enough. Enter the cash dealers.
The Navy wants a laser to blow drones out of the sky. A laser weapon is just a few years away. The U.S. Navy has awarded a $150 million contract to Lockheed that will allow destroyers to use Star Wars technology against smaller targets.
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