Moody’s downgrades China rating to A1 from Aa3 due to slowing economy, growing debt

Moody’s Investors Service on Wednesday downgraded China’s credit rating to A1 from Aa3, changing its outlook to stable from negative, citing concerns efforts to support growth will spur debt growth across the economy. Foreign-exchange markets reacted to the news, with the Australian dollar dropping from levels around $0.7480 to as low as $0.7452 in the […]

The Kushner’s apologize for using the name of Trump’s in-law in promoting properties

BY JEFF HORWITZ AND ALICIA A. CALDWELL The Kushner Companies has apologized for including the name of President Donald Trump’s son-in-law in materials promoting a New Jersey development to foreign investors seeking potential U.S. residency. Jared Kushner himself is not involved in his family’s development project. But his family ties have drawn new scrutiny to […]

Apple’s cash pile of $250 billion fuels expectations

In its quarterly results on Tuesday, Apple Inc. likely will report that its cash hoard has topped a quarter of a trillion dollars, an unrivaled milestone for a private corporation that raises a question: Why would any company want to hold that much money? Apple has added to its pile at a blistering pace, doubling […]

Trump is undermining his own treasury secretary: Summers

By Lawrence H. Summers President Trump’s tax proposals were rolled out yesterday by Treasury Secretary Mnuchin and NEC Director Cohn. For reasons of long run budget health, fairness and economic impact, I think they are extraordinarily ill-advised. I am certain that the substantive concerns I have will be extensively addressed in the debates to come. […]

NSA penetrated Mideast banking networks, according to a new leak

A new set of documents purportedly lifted from the U.S. National Security Agency suggests that American spies have burrowed deep into the Middle East’s financial network, apparently compromising the Dubai office of the anti-money laundering and financial services firm EastNets. The company said Friday the documents were dated and denied that any customer data had […]

Tesla Tops GM by market value to become America’s most valuable carmaker

Elon Musk’s Tesla Inc. surpassed General Motors Co. to become America’s most valuable carmaker, eclipsing a company whose well-being was once viewed as interdependent with the nation’s. Tesla climbed as much as 3.4 percent in early Monday trading, boosting its market capitalization to about $51 billion. The company was valued at about $1.7 billion more […]