News

(Bloomberg) -- Traders are wagering that Tuesday’s slump in the dollar will likely prove short-lived, given the backdrop of relative US economic strength and the risks that a trade war could drive investors into havens. Most Read from BloombergState Farm Seeks Emergency California Rate Hike After FiresNYC’s Newest Transit Leader Builds a Worker-Driven StrategyNew York’s First ‘Passive House’ School Is a Model of Downtown DensityTransportation Memos Favor Places With Higher Birth and Marriage Rat

When Donald Trump started the biggest trade war since the 1930s in his first term, his impulsive combination of threats and import taxes on U.S. trading partners created chaos, generated drama -- and drew criticism from mainstream economists who favor free trade. The trade war sequel that Trump has planned for his second term – if it unfolds the way he's described it – would likely be a different matter altogether. Trump appears to have grander ambitions and is operating in a far more treacherous economic environment this time.

(Bloomberg) -- President Donald Trump signed a directive that aims to ramp up economic pressure on Iran, following through on pledges to reverse what he has cast as a lax sanctions enforcement regime under his White House predecessor.Most Read from BloombergState Farm Seeks Emergency California Rate Hike After FiresNew York’s First ‘Passive House’ School Is a Model of Downtown DensityNYC’s Newest Transit Leader Builds a Worker-Driven StrategyTransportation Memos Favor Places With Higher Birth an

One of the next moves in President Donald Trump and Elon Musk's sweeping effort to fire government employees and curtail operations is using the agency that manages thousands of federal employee worksites around the country to cut down on office space. Last week, regional managers for the General Services Administration, or GSA, received a message from the agency's Washington headquarters to begin terminating leases on all of the roughly 7,500 federal offices nationwide, according to an email shared with The Associated Press by a GSA employee.

BAGHDAD (Reuters) -Oil major BP is expected to spend up to $25 billion over the lifetime of a project to redevelop four Kirkuk oil and gas fields, a senior Iraqi oil official told Reuters, as Baghdad seeks to win back foreign investment. Provided the deal is signed, which the official said could be over the coming weeks, it would mark a breakthrough for Iraq, where output has been constrained by years of war, corruption and sectarian tensions. Even so it is the second-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC), behind only Saudi Arabia.

WASHINGTON (Reuters) -The Federal Reserve announced on Tuesday it had terminated a pair of enforcement actions imposed on Wells Fargo in 2011, but said the bank's asset cap remained in place. The enforcement actions were related to deficient practices in mortgage servicing and foreclosures by the bank, and mortgage lending at a former subsidiary. The Fed said the asset cap it imposed is not affected by the move.

Oil prices took a sharp turn today as traders weighed President Trump’s latest “maximum pressure” push against Iran.