Money

Credit Suisse is raising $4 billion

Why banks are looking to spy movies for answers Credit Suisse plans to raise $ 4 billion to help rebuild its finances after two years of layoffs and losses. The Swiss bank will raise the fresh capital by issuing 380 million new shares. They will be priced at a roughly 30% discount. The announcement came as the bank reported quarterly earnings that were stronger than analysts had expected. Revenue for the first quarter was up 19% compared to the same period last year. Investors cheered the news and bid up ...

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Trump used to hate Wall Street. Now he embraces it

Watch Trump’s stunning U-turns on key issues Donald Trump used to hate Wall Street. Not anymore. On the campaign trail, he slammed Wall Street for “getting away with murder.” He vowed to break up the big banks and force the finance guys to pay higher taxes. His final campaign ad showed ominous photos of the New York Stock Exchange and the CEO of Goldman Sachs and proclaimed it was time to put an end to the political and business elites that have “bled our country dry.” That message resonated deeply ...

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The US just lost a trade battle with Mexico

Canada’s foreign minister: Lumber tax will hurt Americans The US just lost a trade battle with Mexico. It’s the first loss of the Trump era. Mexico and the US have fought for years over tuna. The US insists that any Mexican tuna sold in the US must be “dolphin safe,” meaning dolphins weren’t killed by tuna fisherman, which was once common. Mexico says its fisherman play by the rules. The US government disagrees. On Tuesday, the World Trade Organization ruled in Mexico’s favor, allowing it to impose trade sanctions worth ...

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Trump likely to propose 15% tax rate for all businesses, not just corporations

Will Trump’s tax plan pay for itself? As it is shaping up, President Trump’s new tax plan sounds a lot like his old one. A Trump administration official told CNN on Tuesday that Trump may propose a major tax cut for so-called “pass-through businesses” from 39.6% to 15%. That comes on the heels of news that Trump is also considering a big reduction in the top rate for corporations from 35% to 15%. Trump is planning to announce a tax plan on Wednesday, though it is expected to be more ...

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Fox News anchor joins lawsuit alleging racial discrimination, harassment at network

Fox News still under grand jury probe Fox News’ legal troubles grew even larger Tuesday, with new plaintiffs, including an anchor, joining a suit alleging racial discrimination and harassment at the network. The suit is now headlined by Kelly Wright, a black reporter and anchor who has been withFox News since 2003. Wright claims that he “has been effectively sidelined and asked to perform the role of a ‘Jim Crow’ — the racist caricature of a Black entertainer.” Wright’s allegations involve, among others, recently fired Fox News host Bill O’Reilly ...

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How leaked NSA spy tools created a hacking free-for-all

Infiltrating Hacker Circles Hackers have compromised thousands of computers around the world with a government-grade spy tool. A backdoor published in a trove of leaked NSA hacking tools is being loaded onto vulnerable Windows computers. The attacks demonstrate what happens when people fail to regularly update their machines. The hacks were leaked almost two weeks ago by the anonymous Shadow Brokers group and contain a backdoor called DOUBLEPULSAR. It can be remotely installed on Windows machines that have not been patched since March. This allows hackers to take over the ...

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Who knew Trump would go after Canada?

Trump hits Canadian lumber with steep tariffs President Trump is picking his first trade fight with…Canada. That’s not a typo. Trump spent his 2016 campaign lambasting China and Mexico for cheating on trade. But Commerce Secretary Wilbur Ross announced a surprising 20% tariff on Canadian softwood lumber Monday night, along with individual tariffs on five specific Canadian lumber firms that ranged from 3% to 24%. “This is really a slap in the face of Canada,” says Gary Clyde Hufbauer, a trade expert at the Peterson Institute for International Economics. “This ...

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Wikipedia founder Jimmy Wales is launching a news website

“Fake news” until it’s real news? The founder of Wikipedia says he’s on a mission to fight fake news. Jimmy Wales is launching a news platform that will bring journalists together with an army of volunteer fact checkers. He’s calling the site “Wikitribune.” Its main goal? Fighting fake news. “We want to make sure that you read fact-based articles that have a real impact in both local and global events,” the publication’s website states. The site will publish news stories written by professional journalists. But in a page borrowed from ...

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More North Korea sanctions? They haven't worked so far

North Korea may be preparing 6th nuclear test President Trump says he wants new United Nations sanctions on North Korea, calling the country “a real threat to the world.” The U.N. Security Council has been trying for more than a decade to stifle North Korea’s nuclear weapons program with little success: Nuclear tests and missile launches have continued. Sanctions imposed so farrange from restrictions on the arms trade and financial services to a ban on North Korea’s business of exporting statues of foreign leaders. Here are five key areas where ...

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China is selling flights to North Korea again

North Korea may be preparing 6th nuclear test Well, that didn’t last long. Air China is offering flights between Beijing and North Korea again after a brief halt. The state-owned carrier said April 14 that it was suspending flights to North Korea’s capital Pyongyang because of poor sales. Less than two weeks later, Air China’s website is offering flight bookings again from May 5. The announcement of the temporary suspension drew attention during a period of heightened tensions between the U.S. and North Korea. President Trump has been urging China ...

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