Economic News

Whirlpool Stock Sinks With Raw Material Costs Climbing Around the World

Whirlpool Stock Sinks With Raw Material Costs Climbing Around the World

Home appliance manufacturer Whirlpool Corp. said U.S. tariffs on Chinese goods including steel contributed to an increase in raw materials costs in its U.S. business, CEO Marc Bitzer said during an investor call on Tuesday.   tumbled 14 percent to $129.96 in midday New York Stock Exchange trading. The stock fell to its lowest level in more than two years. […]

Trump Has $12B Plan to Shield Farmers From Trade War

Trump Has $12B Plan to Shield Farmers From Trade War

The Agriculture Department is announcing a $12 billion "short-term" plan to help U.S. farmers hurt by retaliatory tariffs. Agriculture Secretary Sonny Perdue said Tuesday the plan will help a broad number of farmers deal with the cost of "disruptive markets" as U.S. trading partners have retaliated for President Donald Trump's tariffs on imported goods. Agriculture officials say the plan will […]

Netflix Effect: Cord-Cutting Surges to 33 Million in US Market

Netflix Effect: Cord-Cutting Surges to 33 Million in US Market

U.S. households are dropping their traditional pay TV packages at a faster rate than in the past amid a rise in streaming video services like Netflix, a survey showed Tuesday. The found the number of "cord-cutters" who have cancelled pay TV service will climb 32.8 percent this year to 33 million. The survey found 186.7 million U.S. adults will watch […]

World Economy Feels Bite From Trade War

World Economy Feels Bite From Trade War

Protectionism is slowly starting to weigh on the global economy. From demand at factories to company profits and prices consumers are paying, the tit-for-tat trade battle U.S. President Donald Trump started with China and the European Union is starting to show up in numbers. And it’s still early days, that “tariffs are the greatest,” a warning that he may not […]

Facebook Quietly Opens Subsidiary in China Despite Hardening Censorship

Facebook Quietly Opens Subsidiary in China Despite Hardening Censorship

Facebook has set up a subsidiary in China with registered capital of $30 million, according to an official business registration, hinting that the U.S. firm may be ramping up its presence in the restrictive market where its social media sites remain blocked. The subsidiary is registered in Hangzhou, home of e-commerce giant Alibaba Group Holding Ltd., according to a filing […]