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Volvo to lay off 250-350 workers in Pulaski
Volvo plans to lay off 250 to 350 workers at its Pulaski County facility in June, according to John Mies, a spokesperson for Volvo Group North America. Between 300 and 450 employees will also be laid off at the company’s Mack Trucks Lehigh Valley Operations in Pennsylvania and at its Volvo Group Powertrain Operations in […]
Trump renews attack on Federal Reserve Chair Powell
WASHINGTON (AP) — President Donald Trump repeated his attacks Monday against the chair of the Federal Reserve, demanding that the central bank lower its key interest rate to boost the economy. Trump called Jerome Powell “a major loser” and said that energy and grocery prices are “substantially lower” and “there is virtually No Inflation.” Yet Trump said the […]
The Dow sinks nearly 1,000 points
NEW YORK (AP) — Wall Street weakened Monday as investors worldwide get more skeptical about U.S. investments because of President Donald Trump’s trade war and his criticism of the Federal Reserve, which are shaking the traditional order. The S&P 500 sank 2.4% in another wipeout. That yanked the index that’s at the center of many 401(k) accounts 16% below […]
Federal ‘uncertainty’ delays start of $1.3B Microporous project in Pittsylvania
Construction on Microporous‘ $1.3 billion lithium-ion battery separator plant at the Southern Virginia Megasite at Berry Hill will be delayed from April until June or July, following uncertainty regarding its federal funding, according to a Pittsylvania County official. Matt Rowe, Pittsylvania’s economic development director, said Thursday he feels that the Tennessee company’s $1[...]
Trump gripes about interest rates and says Fed Chair Powell’s ‘termination cannot come fast enough’
WASHINGTON (AP) — President Donald Trump slammed Federal Reserve Chair Jerome Powell on Thursday, reiterating his frustration that the Fed has not aggressively cut interest rates and saying that the central bank leader’s “termination cannot come fast enough.” Trump hinted at moving to fire Powell, whose term does not expire until May 2026. The Republican president’s broadsi[...]
Wall Street is mixed after UnitedHealth’s worst drop in decades offsets gains for most US stocks
NEW YORK (AP) — Wall Street is drifting between gains and losses Thursday as UnitedHealth Group’s stock plunges toward its worst drop in more than a quarter century, while most of the rest of the U.S. stock market ticks higher. The S&P 500 was up 0.4% in its final day of trading in a holiday-shortened week. The […]
Hong Kong post office will stop shipping parcels to the US over tariffs
HONG KONG (AP) — Hong Kong’s post office will stop shipping small parcels to the United States after Washington announced plans to charge tariffs on small-value parcels from the southern Chinese city, the government said Wednesday. The U.S. government earlier announced that it would end a customs exception allowing small-value parcels from Hong Kong to enter the U.S. without […]
World Trade Organization says global trade could slide this year because of Trump’s tariff policies
GENEVA (AP) — The World Trade Organization says the volume of trade in goods worldwide is likely to decrease by 0.2% this year due to U.S. President Donald Trump‘s shifting tariff policies and a standoff with China, but it would take a more severe hit if Trump carries through on his toughest “reciprocal” tariffs. The decline in […]
California will sue to stop Trump from imposing sweeping tariffs
SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom sued the Trump administration on Wednesday, challenging the president’s authority to impose sweeping tariffs that have set off a global trade war. The lawsuit argues that President Donald Trump‘s use of the International Emergency Economic Powers Act to impose tariffs on Mexico, Canada and China or a 10% tariff on […]
US stocks tumble as Nvidia slides and the fog of Trump’s trade war thickens
NEW YORK (AP) — U.S. stocks are tumbling Wednesday after Nvidia warned new U.S. restrictions on exports to China will chisel billions of dollars off its results, while companies around the world said President Donald Trump‘s trade war is clouding forecasts for how they or the economy will do this year. The S&P 500 was 3% lower in late trading, an […]
The Latest: Trump considers a pause on his auto tariffs
The federal government says it’s freezing more than $2.2 billion in grants and $60 million in contracts to Harvard University after the institution said it would defy the Trump administration‘s demands to limit activism on campus. Meanwhile, President Donald Trump has suggested he might temporarily exempt the auto industry from tariffs he previously imposed on the sector, to give [...]
Wall Street ticks higher in a rare quiet day following weeks of tariff turmoil
NEW YORK (AP) — U.S. stocks are rising Tuesday in a rare quiet day for financial markets, for now at least. The S&P 500 was up 0.3% in afternoon trading, though it’s been prone to huge swings not just day to day but also hour to hour. The day before, it went from a gain of 1.8% to a slight […]
