Money

Stocks maintain momentum; CEOs ditch Trump; Retailers report

Click chart for in-depth premarket data. 1. Relief rally continues: U.S. stocks are poised to continue rising after a big relief rally on Monday. Wall Street’s fears about the North Korea nuclear crisis have faded for now, giving stocks a boost. State media reported that North Korean leader Kim Jong Un has finished reviewing a plan to fire four missiles off Guam, and has opted to wait to see what the “foolish Yankees” do next, apparently putting the onus on President Trump to make the next move. Easing concerns about ...

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Colbert presses Scaramucci: “Does [Trump] order his spine on Amazon Prime?”

Scaramucci on Trump and Charlottesville Stephen Colbert didn’t waste anytime in this interview with Anthony Scaramucci Monday night asking the former White House communications director about Donald Trump’s response following Saturday’s violence in Charlottesville, Virginia. “I promised you no gotcha questions, but I’m going to lead with one,” the “Late Show” host said. “Nazis, good or bad?” “Super bad,” Scaramucci responded. This led Colbert to ask why Scaramucci thought the president would “shank a softball like that so hard” with his comments on Saturday rather than just condemning “the people ...

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Intel CEO is the latest to leave Trump's manufacturing council

The CEOs that quit Trump’s business councils Intel CEO Brian Krzanich has become the third top business leader to step down from President Trump’s manufacturing council on Monday. He follows the chiefs of Merck(MRK) and Under Armour(UA), who announcedtheir decisions earlier Monday amid the fallout over Trump’s response to violence over the weekend at a white nationalist rally in Charlottesville, Virginia. “We should honor — not attack — those who have stood up for equality and other cherished American values. I hope this will change, and I remain willing to ...

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Under Armour CEO quits Trump's manufacturing council

Trump criticizes black CEO by name before mentioning white supremacists Under Armour CEO Kevin Plank said Monday night that he’s leaving President Trump’s manufacturing council, the second departure by a high-profile business leader in the space of a day. Plank didn’t give a clear reason for stepping down, but his announcement comes amid fierce criticism over Trump’s response to violence over the weekend at a white nationalist rally in Charlottesville, Virginia. “I am appreciative of the opportunity to have served, but have decided to step down from the council,” Plank ...

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CEOs outraged after Charlottesville, but only Merck quits Trump council

Trump criticizes black CEO by name before mentioning white supremacists President Trump’s initial failure to condemn white supremacy on Saturday was too much for Kenneth Frazier. Early Monday morning, the head of the pharma giant Merck — and one of America’s most prominent black CEOs — abruptly quit Trump’s manufacturing council. Frazier’s message was clear: “America’s leaders must honor our fundamental values by clearly rejecting expressions of hatred, bigotry and group supremacy.” Trump quickly responded by bashing Frazier. He tweeted that the Merck CEO “will have more time to LOWER ...

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Trump signs order to crack down on China trade practices

Trump and Xi speak about North Korea President Trump is getting tough on trade with China. Trump signed a memorandum Monday that directs U.S. Trade Representative Robert Lighthizer to determine whether an investigation is needed into alleged unfair Chinese trade practices. The move represents the first step in a process that could allow Trump to impose tariffs on Chinese imports or other punishing trade actions. “This is just the beginning,” Trump said at the White House Monday. “We will defend our workers.” It’s Trump’s latest warning to China on trade, ...

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WannaCry 'hero' pleads not guilty to making Kronos malware

‘WannaCry’ cyberattack halted Marcus Hutchins, the security researcher best known for his role in stopping the spread of the global WannaCry attack, pleaded not guilty to allegedly making and selling other malware on Monday. Hutchins, also known as MalwareTech, was arrested in Las Vegas earlier this month for his alleged role in creating and distributing malware that steals people’s banking information. The charges are related to conduct that allegedly took place between July 2014 and July 2015. The arraignment was held in a Wisconsin federal court. Hutchins, a UK citizen, ...

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Merck CEO quits Trump council over Charlottesville

Trump addresses Charlottesville clashes (full) One of America’s most prominent black CEOs quit President Trump’s manufacturing council on Monday over Trump’s failure to condemn white supremacists. Kenneth Frazier of Merck said in a statement: “America’s leaders must honor our fundamental values by clearly rejecting expressions of hatred, bigotry and group supremacy.” Within minutes, Trump attacked him on Twitter, saying Frazier’s resignation will give him “more time to LOWER RIPOFF DRUG PRICES!” Frazier did not mention the violence in Charlottesville, Virginia, in his statement, but he did say that “as a ...

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Shonda Rhimes is leaving ABC for Netflix

5 stunning stats about Netflix Shonda Rhimes, one of the best-known producers in television, is making the leap from ABC to Netflix. And the timing could not be more significant. Rhimes’ existing hit shows like “Grey’s Anatomy” will keep airing on ABC. But she will develop new shows exclusively for the streaming service. This is what’s known as a production deal in Hollywood. Right now the Shondaland production company is affiliated with ABC Studios. But Rhimes and her producing partner Betsy Beers will move Shondaland to Netflix, where they will ...

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Trump's team begins NAFTA talks on Wednesday

NAFTA explained President Trump calls it the worst trade agreement in American history. Now he wants to fulfill one of his core campaign promises: to make better deal for American workers. The Trump administration will begin to renegotiate NAFTA on Wednesday with counterparts from Mexico and Canada. The first round of talks kick off in Washington, D.C. Trump’s verbal punching bag Trump blames NAFTA for millions of lost jobs and thousands of shuttered factories in America. Nonpartisan congressional research concluded in 2015 that NAFTA didn’t cause a jobs exodus. About ...

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