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DETROIT General Motors Co (GM.N) Chief Executive Mary Barra said on Thursday the automaker will expand testing of self-driving vehicles to Michigan, and will build its next generation of self-driving cars in the Michigan plant that builds the Chevrolet Bolt electric car. Separately, Barra declined to discuss a statement by a Chinese government official that a U.S. automaker could be subject to penalties for price-fixing. “I don’t […]

A one-two punch of a surging US dollar and rising interest rates sent the price of gold tumbling to its lowest level since February on Thursday, hurting the shares of miners and spurring hefty liquidations of exchange traded funds that track the metal. The price of gold in New York fell as much as 1.8 per cent to $1,122 an ounce, as the dollar rose across the […]

If Donald Trump has made bank stocks great again, Janet Yellen has just made them even greater. US financial stocks were on a tear on Thursday, extending their strong post-election market gains after the Federal Reserve raised interest rates on Wednesday and signalled that at least three more rises are on the cards for next year. The prospect that the US central bank might have to raise […]

While a liberal group responsible for fomenting the Electoral College rebellion claims to have at least 20 of the 37 GOP defectors needed to pull an upset and send the election to the House, The Hill reports that, among Republicans on the ground, though, there is no chatter or speculation surrounding that possibility. The liberal opposition has generated a cottage industry of online speculation that an Electoral […]

Federal Communications Commission Chairman Tom Wheeler announced Thursday that he will step down on January 20 — inauguration day for incoming US President Donald Trump. Wheeler was appointed to the top position at the FCC more three years ago by President Barack Obama. The FCC issued the following statement from Wheeler regarding his resignation: Serving as F.C.C. Chairman during this period of historic technological change has been […]

WASHINGTON/BEIJING China’s plan to punish a U.S. automaker accused of price-fixing is a sign of how Beijing could retaliate if President-elect Donald Trump upends decades of relations between the two nations. Trump’s assertion that the United States need not be bound by the policy that Taiwan is part of “one China” would erode a bedrock of U.S.-China ties that has underpinned the vast increase in trade and […]

The US dollar marched higher on Thursday, reaching its strongest level against the euro for more than a decade, after the US Federal Reserve signalled a more aggressive outlook for interest rate policy. Europe’s single currency was among the hardest hit, falling through the $1.04 level to trade at its lowest level since early 2003. Driving the dollar’s strength is a growing divergence between benchmark interest rates […]

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Law Blog rounds up the morning’s news: Business regulations: President-elect Donald Trump’s promise to eliminate regulations on U.S. businesses will likely take years to fulfill given the complex steps involved in reversing them and political and legal challenges from Democratic lawmakers and state attorneys general. [WSJ] Terrorism defense: As authorities crack down on ISIS sympathizers, the […] (via WSJ)

“If they’ve managed to sleep through the night, bonds traders in the US will have quite a shock when they check their screens in the morning,” Mohamed El-Erian, chief economic adviser at Allianz, tweeted early on Thursday. Wall Street bond traders and investors will have turned in on Wednesday night already jolted by the Federal Reserve, which under Janet Yellen’s leadership has become synonymous with caution on […]

WASHINGTON U.S. President-elect Donald Trump on Thursday raised more questions about Russia’s reported role in cyber attacks on U.S. political parties and individuals as well as the timing of the White House’s response under President Barack Obama. “If Russia, or some other entity, was hacking, why did the White House wait so long to act? Why did they only complain after Hillary lost?” Trump wrote in a […]

Chairman and CEO of PepsiCo. Indra Nooyi is the latest Indian American to be hand-picked by U.S. President-elect Donald Trump to advise him and help him run the country. Ms. Nooyi’s appointment to his strategic and policy forum was announced Wednesday by Mr. Trump’s transition team as one of three new appointments to the 16-member group. SpaceX Corp’s Elon Musk and Uber Technologies Inc.’s Travis Kalanick were […]

By Natalie Schachar | MEXICO CITY MEXICO CITY Some Mexican banks are lowering credit card spending limits and raising consumer lending standards in the face of an economic slowdown, rising interest rates and the U.S. election victory of Donald Trump. After a period of robust overall credit growth, Mexican banks are cutting credit card exposure to counter a potential rise in consumer defaults and the risks of […]

Thursday 11:00 GMT Overview Stock markets are trading cautiously as Treasury yields hit fresh highs after the Federal Reserve’s decision to raise interest rates for only the second time since the financial crisis. The prospect of the US central bank perhaps having to tighten policy faster than expected to reflect any additional boost to growth from president-elect Trump’s fiscal plans is lifting the dollar to a 14-year […]

SANTIAGO A prominent Chilean business leader presented the country’s economy minister with an inflatable doll on stage at an event late on Tuesday, sparking a social media storm and criticism by President Michelle Bachelet. Exporters’ association Asexma traditionally gives humorous gifts to VIPs attending its annual dinner, but the inflated sex toy – which was handed to economy minister Luis Cespedes with the comment that it could […]

Politico has terminated its contract with magazine writer Julia Ioffe after she sent a tweet that referenced a possible incestuous relationship between President-elect Donald Trump and his daughter, Ivanka. In a note to Politico staff Wednesday, Editor-in-Chief John Harris and Editor Carrie Budoff Brown said Ioffe violated guidelines against displaying “gratuitous opinion” on social media. “Julia Ioffe’s tweet this afternoon about President-elect Trump – currently and understandably […]

By Howard Schneider and Lindsay Dunsmuir | WASHINGTON WASHINGTON The U.S. Federal Reserve raised interest rates on Wednesday and signaled a faster pace of increases in 2017 as central bankers adapted to the incoming Trump administration’s promises of tax cuts, spending and deregulation. The increase in the federal funds rate to a range of between 0.50 percent and 0.75 percent was widely expected. But the prospect of […]

The Washington Post is a profitable and growing enterprise, the newspaper’s publisher announced in a memo to staffers Tuesday evening. In the seventh paragraph of a rally-the-troops announcement, Post Publisher Fred Ryan made a winking nod to burying the news: Not to bury the lede, but thanks to the incredible work of the entire team, The Washington Post will finish this year as a profitable and growing […]

Long-term borrowing costs for lower-quality US investment-grade companies are nearing 5 per cent — the highest level in nine months — as investors anticipate rising inflation and higher growth, reversing from the six-decade low touched earlier this year. The average yield on the closely followed Moody’s Baa index has climbed to 4.9 per cent, the highest since March when the US credit market slowly recovered from a […]

The head of Qatar’s sovereign wealth fund has told US officials it will invest $10 billion in infrastructure projects inside the United States, sources said, in an apparent boost to the economic plans of president-elect Donald Trump. Sheikh Abdullah bin Mohamed bin Saud al-Thani, chief executive of the Qatar Investment Authority (QIA), delivered the message to officials including Charles Rivkin, US assistant secretary of state for economic […]

By Julia Love and Ginger Gibson | SAN FRANCISCO/WASHINGTON SAN FRANCISCO/WASHINGTON Alphabet’s Google is racing to hire more conservatives for its lobbying and policy arm, trying to get a foothold in President-elect Donald Trump’s Washington after enjoying a uniquely close relationship with the administration of President Barack Obama. In the weeks since the Nov. 8 election, Google has ramped up efforts to hire Republican lobbying firms and […]

December 14, 2016 by: Robin Harding in Tokyo Optimism at Japanese companies is on the rise for the first time in 18 months after Donald Trump’s election as US president breathed new life into the country’s drive to escape deflation. The Bank of Japan’s closely watched tankan index for large manufacturers rose from +6 to +10 in December, the first increase since the second quarter of 2015, […]

When Liev Schreiber visited The Washington Post for a sitdown with Executive Editor Marty Baron, the veteran newsman tried to keep it quiet. Baron hadn’t told anybody the award-winning actor was there to talk with Baron before portraying him in “Spotlight.” But, since it’s a newspaper, word got out anyway. People streamed by Baron’s office, “including a woman who went by the first time with her hair […]

When the bill was considered by the full committee in December 2012, Schumer, who eventually voted in favor of the bill, nevertheless echoed concerns of the tech companies, saying it “still needs a lot of work to assuage the concerns of tech innovators.” Sen. Grassley, who also voted for the measure, said he had the same worries, saying the bill needed to address industry concerns that it […]

By Patricia Zengerle | WASHINGTON WASHINGTON U.S. Senate Democrats plan to enlist accountants and legal experts to pore through the business records of Exxon Mobil Chief Executive Rex Tillerson, President-elect Donald Trump’s pick for secretary of state, Democratic aides said. Tillerson could face a rocky confirmation process, given concerns among both Democrats and Republicans about his ties to Russia. If Tillerson can overcome the skepticism of Republicans, […]

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