Business

Business

US trade deficit widens to $504 billion

The U.S. trade deficit rose to a four-year high in 2016, due in part to a stronger dollar and weaker global economies. Despite the overall increase of 0.4 percent over the year to $502.3 billion, the trade deficit, as reported by the U.S. Census Bureau, actually decreased for the month of December by 3.2 percent…

Business

Bank of England keeps rates unchanged, raises growth outlook

The Bank of England’s Monetary Policy Committee concluded its February meeting by keeping interest rates unchanged and raising the country’s growth outlook. The Committee, which also decided to continue its bond-purchasing program, reiterated that the implications for monetary policy would not be automatic and will continue to tolerate higher inflation. The BoE’s decision came a…

Business

Executive order fulfills Trump’s promise to weaken Dodd-Frank

After spending the campaign trail promising to weaken or repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act, President Donald Trump signed two executive orders aimed at giving more financial freedom to Wall Street banks. The two executive orders were signed on Feb. 3, 2017. According to ABC, one of the two executive orders…

Disappointing 4Q US economic data show lackluster growth
Business

Disappointing 4Q US economic data show lackluster growth

In the fourth quarter of 2016, the U.S. gross domestic product rose 1.9 percent and consumer spending went up by 2.5 percent. In the previous quarter, however, the GDP rose by a substantial 3.5 percent, an impressive figure considering it was the most significant increase in two years. Overall, the fourth-quarter growth was slight and…

Business

Microsoft surprises markets with booming cloud business Azure

Microsoft surprised Wall Street positively after it announced results for the quarter that ended in December by blowing past the consensus estimates in almost all of its business divisions. The company posted pro-forma earnings per share of 83 cents on revenues of $26.07 billion. According to Thomson Reuters consensus estimates, analysts had projected pro-forma earnings…

Business

Pressure builds up in Athens to fix deal

Despite showing promising signs of a recovery in its economy, Greece was unable to finalize the terms for its third bailout program in a recent meeting with its creditors. Talks between the two sides fell apart after Europe’s most indebted country reported that only one-third of the prerequisites required for the bailout were implemented. In…

Business

Trump takes aim at US trade policies

After his first full week in the Oval Office, President Donald Trump has shown that his time in office will be unlike any other in recent history. Over the last 18 months, Trump voiced his disapproval with the previous administrations’ trade deals, which, in his opinion, hurt the U.S. economy. The Trans-Pacific Partnership and North…

Starbucks CEO steps down
Business

Starbucks CEO steps down

Starbucks shares fell roughly three percent in premarket trading percent following the announcement of the resignation of its CEO, Howard Schultz, on Dec 1. Schultz, who has worked for Starbucks as CEO over the last eight years and also served in the position between 1987 and 2000, will now shift his focus in the company to…

Business

RBS shares fall after failed stress test

The Royal Bank of Scotland has failed the Bank of England’s annual stress test, which measures a bank’s ability to endure financial crises, such as recessions. Ordinarily, the BOE uses this test to identify any weaknesses in a major bank’s system. The uncovered issues point to Britain’s lingering inability to fully bounce back from the…

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