Big Downward Jobs Revisions Could Be a Warning Sign for the Economy
Employers added far fewer jobs in May and June than previously reported. Such downgrades have historically meant trouble for the labor market. Source link
us Business
Read More
Weak Jobs Report Raises Chances of a September Interest Rate Cut
The Federal Reserve held rates steady in July but two governors dissented, saying they had concerns about labor market fragility. Source link
Fed Dissenters Defend Call for July Rate Cut as Trump Intensifies Attacks on Powell
The central bank this week kept interest rates steady for a fifth-straight meeting, prompting the first double dissent from members of the powerful Board of Governors since 1993. Source link
Stocks Drop as Trump’s New Tariffs Weigh on Markets
President Trump’s newest barrage of tariffs, major corporate earnings reports and an imminent reading on the U.S. labor market weighed on markets. Source link
Exxon Chief Says Demand for Oil Remains ‘Very, Very Strong.’
The largest U.S. energy companies reported their lowest second-quarter profits in years, as tariffs have weighed on oil prices. Source link
Switzerland Is Stunned by 39% U.S. Tariff, Among the Highest in the World
Swiss officials plan to negotiate furiously for a lower rate in the coming days, before the punishing levy takes effect. Source link
Tensions Between Trump and Powell at Tipping Point Ahead of Fed Meeting
President Trump wants lower interest rates, but Jerome H. Powell, the chair of the Federal Reserve, is not yet ready to deliver them. Source link
E.U. Did Not Retain Texts Sought by Journalists on Covid Vaccine Deal
The European Union acknowledged for the first time that a top official reviewed the messages, but said it had no duty to keep them, despite intense interest. Source link
Cambodia Agrees to a Reduced Tariff and Breathes a Sigh of Relief
Initially 49%, it was lowered to 19%, easing worries of a damaging hit to the country’s garment and footwear production industries. Source link