Trump administration is ‘complete insanity’ and the markets are in a fantasy land: Stockman : Stockman

Stocks are booming under President Donald Trump, but long-time critic David Stockman warns traders are living in a “fantasy land” that can’t last —and Trump’s policies will derail the market for years to come. The former Reagan administration OMB director appeared on CNBC’s “Futures Now”last week to emphasize that Trump has become seemingly distracted by […]

Billionaire Carlos Slim to launch a Made-In-Mexico electric car

At a time when American auto giants are under pressure to bring back production from Mexico to the U.S., Mexican billionaire Carlos Slim Helu is planning an expansion of his modest presence in Mexico’s auto industry. Giant Motors, controlled by Slim’s financial services conglomerate, Inbursa, is in the process of manufacturing a made-in-Mexico electric vehicle […]

North Korean Economics 101: How Much Is a Dollar Worth?

PYONGYANG, North Korea (AP) — To get a feel for how North Korea’s economy works, go buy a roll of toilet paper. Or start up a mobile phone network. As capitalist-style markets have grown more important in North Korea, so has a market-friendly exchange rate for the much-coveted U.S. dollars, euros and Chinese yuan that […]

Iran calls Trump’s medical clearance list “inhumane”

Iran’s semi-official ILNA news agency is reporting that the country has called “inhumane” a decision by the Trump administration to expand a list of medical equipment requiring federal authorization for sale to Iran. The Friday report cites the director of Iran’s Food and Drug Administration, Rasoul Dinarvand, as saying that extending the list is “inhumane”. […]

Apple’s cash hoard swells to record $246.09 billion

Apple’s enormous cash hoard grew to $246.09 billion in the fiscal fourth quarter, up $8.49 billion from the previous quarter. That figure is larger than Sri Lanka’s estimated 2016 gross domestic product, but smaller than Denmark’s, according to the CIA World Factbook. If Apple’s cash pile was its own public company, it would be the […]

Deutsche Bank fined $630m over Russian money laundering

Deutsche Bank has been fined more than $630m (£506m) for failing to prevent $10bn of Russian money laundering and exposing the UK financial system to the risk of financial crime. The UK’s Financial Conduct Authority imposed its largest ever fine – £163m – for potential money laundering offences on Germany’s biggest bank, which it said […]