Archives for Money

    Trump uses Defense Production Act to require GM to make ventilators

    The president turned his ire on the automaker earlier Friday, singling out CEO Mary Barra for criticism.

    “As usual with ‘this’ General Motors, things just never seem to work out,” Trump tweeted. “They said they were going to give us 40,000 much needed Ventilators, ‘very quickly’. Now they are saying it will only be 6000, in late April, and they want top dollar. Always a mess with Mary B.”

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    Tessa Thompson Talks Her Love For Nostalgic Pieces And The Importance Of Supporting Small Businesses with Essence.

    While not everyone is able to become an American Express Platinum Member, the company is curating conscious projects to make sure there is support for underrepresented businesses. On Saturday, the credit card conglomerate threw its first-ever Platinum House in New York City hosted by actress Tessa Thompson. Thompson is an avid supporter of small businesses especially through her fashion choices where she’s likes to incorporate pieces from Black or POC designers. 

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    Why did US recession fears rise again and scare the stock market on Tuesday?

    The American consumer has been propping up the U.S. economy, but fears deepened Tuesday that the troubled U.S. manufacturing sector could ultimately drag it down.

    Factory activity shrank at the fastest pace in a decade last month amid the U.S.-China trade war and slowing global growth, driving stocks lower and reviving recession fears.

    Those forces also led the World Trade Organization on Tuesday to sharply lower its forecast for global trade growth this year to 1.2%. That’s down from its 2.6% estimate in April and a gain of 3% last year.

    A closely watched index of factory activity dropped to 47.8 in September from 49.1 the prior month, according to the Institute for Supply Management. That’s below the reading of 50 that economists expected and reflects a contraction in the sector for the second straight month. An index above 50 means expansion while below means contraction.

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