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Financial and Economic Brief - March 6, 2019
• Construction Spending Falls - The U.S. construction spending fell 0.6% in December as investment in both private and public projects dropped, indicating that the economy “lost momentum” at the end of 2018.
• China Cutting Taxes and Increasing Lending - China is trying to shore up its slowing economy through billions of dollars in planned tax cuts and infrastructure spending.
• GE On Decline - GE’s (GE) stock is down by nearly two-thirds since the end of 2016 and the company has fallen to the 59th most valuable in the S&P 500.
Financial and Economic Brief - February 5, 2019
• Fed “Pauses” Tightening - The financial markets are concerned about a slowing economy, and the Fed chairman has sought to reassure investors.
• General Motors Cuts Jobs - General Motors is expected to start its next round of white-collar job cuts this week, but there are fewer staff reductions left to make than were anticipated.
• Ultimate Software Agrees to Buyout - Ultimate Software Group Inc., a cloud-based human resources applications developer, said on Monday it agreed to be bought by an investor group for about $11 billion.
Financial and Economic Brief - January 8, 2019
• Job Creation Hot in December - Job creation surged by 312,000 in December though the unemployment rate rose to 3.9%.
• A New Exchange, MEMX - Morgan Stanley, Fidelity Investments, Citadel Securities & a group of other financial companies have agreed to jointly launch a new low-cost “bourse” that will compete with the NYSE & Nasdaq.
• Eli Lilly to Buy Loxo Oncology - Eli Lilly and Co. announced Monday it will acquire Loxo Oncology for about $8 billion in cash.
Financial and Economic Brief - December 4, 2018
• Trade Agreement Truce - Markets rallied on news that President Donald Trump and Chinese President Xi Jinping, had reached a “truce” in the trade battle.
• Car Sales Fall - Several carmakers including Ford, Honda and Toyota reported a drop in new car sales in the U.S. in November.
• Qtar Pulling Out of OPEC - The small, “gas-rich state” of Qatar said that it will leave OPEC on January 1 after nearly 60 years.
Financial and Economic Brief - November 6, 2018
• Wall Street’s Concerns about Jobs Report - A “near perfect” jobs report was delivered last week with more than 200,000 Americans per month finding jobs.
• Lowe’s Closing Underperforming Stores - In an announcement today, Lowe’s will close 51 underperforming stores in North America.
• Iranian Oil Sanctions Start - The U.S. reintroduced sanctions against Iranian oil while giving some of America’s closest allies exemptions that allow Tehran’s biggest customers to keep buying oil for now.
Financial and Economic Brief - October 4, 2018
• Economy Looks Good - Following Jerome Powell’s description of the U.S. economic outlook as “remarkably positive”, people are wondering how long this “rosy” period might last.
• Canada, Mexico, U.S. New Trade Deal - Canada has agreed to join the U.S. and Mexico in a trade deal that will replace NAFTA, according to officials.
• Honda Takes Stake in GM - Honda Motor Co will invest $2 billion & take a 5.7% stake in General Motors' Cruise self-driving vehicle unit, to jointly develop self-driving vehicles for deployment in ride services fleets around the world.