Category: Economy

Consumer Confidence Booms to Highest Level in 16 Years

Consumer’s confidence in March rocketed to the highest level more than 16 years, according to data released Tuesday.  America’s middle class, in particular, registered huge gains in confidence. The Conference Board said its consumer confidence index soared to 125.6 in March, up from 116.1 in February. Economists had expected a decline to 114.1. Measures of consumer and business confidence continue to defy experts by climbing ever higher since the election of President Donald Trump. Despite media reports of hate crimes and an ongoing narrative that America has unentered a period of uncertainty and ill-will, surveys of consumers show that...

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Ford invests $1.2bn in Michigan auto plants as Trump tweets ‘Jobs! Jobs! Jobs!’

Ford has announced that it will create 130 jobs when it invests $1.2 billion in Michigan auto plants. The investment follows contract negotiations with the United Auto Workers almost two years ago. President Donald Trump tweeted before the official announcement, saying “car companies are coming back to the US even though a Ford executive said the plant investments were planned long before Trump took office. “Big announcement by Ford today. Major investment to be made in three Michigan plants. Car companies coming back to U.S. JOBS! JOBS! JOBS!,” the president tweeted.   Big announcement by Ford today. Major investment...

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Stocks close mixed after House pulls health-care bill

U.S. equities closed mixed Friday after a choppy trading session with NBC News reporting the House pulled a key health-care bill. “I think you will have a rally if he pulls the bill. He didn’t have the votes to get it done,” said Art Cashin, director of floor operations at the NYSE for UBS. “They’ll now move on to tax reform. at least that’s what the market will believe and the market will move on.” The Dow Jones industrial average, which had traded more than 100 points lower earlier in the session, closed about 60 points lower. The 30-stock...

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Mexico Threatens to End US Corn Imports

Mexico City (AFP) – Mexico has identified a potential weapon in its trade wrangle with US President Donald Trump: lucrative yellow cobs of American corn. The Latin American nation imports billions of dollars’ worth of the yellow grain from the United States to feed its livestock. But with Trump pushing to shake up the countries’ trade ties, Mexico is now threatening to buy from elsewhere. That is worrying corn growers in some of the very same US states that voted heavily in favor of Trump: Iowa, North Dakota, Kansas, Missouri and Nebraska. Trump has vowed to restrict free trade...

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Brexit begins: Date Article 50 will be triggered to start process of UK leaving EU now confirmed

Prime Minister Theresa May will trigger Article 50 on March 29, formally starting the process for Britain to leave the European Union. May will write to the EU next Wednesday announcing the beginning of Brexit. It will start the clock on a two-year countdown to Brexit and allow negotiations between London and Brussels to begin. Tim Barrow, the UK’s ambassador to the EU, formally notified the office of the EU Council President Donald Tusk on Monday morning, the Telegraph reports. The PM’s official spokesman said: “We said it would be by the end of March and thought it would be helpful...

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