Trade Tensions Still Vex Tax Execs
Despite the preliminary trade deal with China, corporate tax leaders expect tariffs to be a pain in their side throughout 2020.
Nike Beats Estimates as Digital Sales Rise 38%
“Nike delivered another strong quarter of accelerating, high-quality growth, driven by strategic and targeted investment in our digital transformation."
Cleveland-Cliffs to Buy AK Steel in $1.1B Stock Deal
The steelmaker has been pummeled amid trade uncertainty.
China Tariffs to Eat Into Dollar Tree Q4 Profits
The discount retailer's shares fell more than 16% after it cut its outlook for the holiday season due in part to tariff costs.
U.S. Economic Indicators for Next 12 Months Point Down
Business economists dial back expectations for GDP growth, corporate revenue, and hiring, among other key economic indicators.
Insolvencies Are on the Rise in Western Europe
Slowing economic and global trade growth, as well as Brexit uncertainty, are the main drivers of the insolvencies.
IMF Cuts 2019 World Growth Forecast to 3%
“Further escalation of trade tensions and associated increases in policy uncertainty" could result in lower-than-expected growth next year, the IMF says.
Costco Shares Drop on 4th Quarter Sales Miss
The stock had risen 42% this year as the warehouse retailer benefited from strong consumer spending.
U.S. Gets OK to Put up to $7.5B in Tariffs on EU
The World Trade Organization rules the U.S. can retaliate for illegal subsidies to Airbus, possibly escalating trade tensions.
Consumer Spending Rises Only 0.1% in August
With income outpacing expenditures, consumers may have "a good amount of cushion to sustain spending if or as the economy slows."
Fed to Cut Rates Again This Year, S&P Predicts
Another cut in December is "contingent upon an escalation in trade tensions, further weakness in global growth, and increased geopolitical tensions."