By Claire Williams Top Stories Chinese President Xi Jinping criticized U.S. trade policy in a speech at the Shanghai trade fair, denouncing the “law of the jungle” approach to trade while avoiding any mention of concessions to meet President Donald Trump’s demands, such as ceasing forced technology transfers or stemming support for state-owned enterprises. Xi […]
By Morgan Halvorsen Week in Review Trade The Treasury Department issued new rules tightening requirements for foreign investment, mandating that foreign investors notify the Committee on Foreign Investment in the United States of all deals that provide access to critical technology in 27 industries that the committee considers a potential threat to U.S. technological superiority […]
By Morgan Halvorsen Top Stories Although President Donald Trump has pressured Treasury Secretary Steven Mnuchin to label China a currency manipulator, Treasury staff haven’t found a reason to do so, according to two people familiar with the matter. If Mnuchin accepts that finding, it could avert an escalation of trade tensions between the United States and […]
By Morgan Halvorsen Top Stories Yesterday’s U.S. stock market rout spread today to bourses in Asia and Europe, with analysts citing a number of factors, such as growing global trade tensions and rising U.S. interest rates. The market damage was particularly acute in China, where the Shanghai Composite Index closed down more than 5 percent. […]
By Morgan Halvorsen Top Stories Roughly $15.7 billion in catastrophe bonds, held by large investors such as pension funds, wealthy families and endowments, are at risk of exposure as Hurricane Michael nears landfall in Florida, according to reinsurance broker Aon Securities. Investors in catastrophe bonds can lose their principal under certain conditions, such as hurricane […]
By Morgan Halvorsen Top Stories Fannie Mae said Hugh Frater has been appointed to serve as the company’s interim CEO after current Chief Executive Timothy Mayopoulos departs next week. Frater, who has been a board member since 2016, previously served as chairman and CEO of Berkadia Commercial Mortgage LLC. (Bloomberg) U.S. officials have threatened to […]
By Morgan Halvorsen Top Stories Democratic candidates are drawing more Wall Street money compared to Republican candidates this election cycle for the first time in a decade, according to data from the Center for Responsive Politics, with industry donors looking for Democrats to serve as a check on the president. Of the 20 Senate candidates […]
By Sei Chong Week in Review Trade President Donald Trump threatened to slap tariffs on cars from Canada and said he rejected a meeting with Canadian Prime Minister Justin Trudeau because “his tariffs are too high and he doesn’t seem to want to move.” The threat came on the same day the United States and […]
By Ryan Rainey and Morgan Halvorsen Morning Consult Finance will be off for the Labor Day holiday. Publication of the morning briefs and afternoon updates will resume Tuesday. Week in Review Wells Fargo investigates gender bias, expense policy violations Wells Fargo & Co. is internally investigating allegations of gender bias in its wealth management leadership, […]
By Ryan Rainey Top Stories Wells Fargo & Co. is internally investigating allegations of gender bias in its wealth management leadership, according to executives familiar with the probe. (The Wall Street Journal) President Donald Trump gave further momentum to an idea floated by some administration officials to tie capital gains taxes to inflation, which would […]
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