Money

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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What did I make at my last job? None of your business

How long will it take to close the gender pay gap? The most dreaded question in a job interview could soon be off limits. States and cities across the country are considering legislation that would bar employers from asking about a job applicant’s pay history. Massachusetts and Philadelphia already have such laws on the books, and a New York City initiative is sitting on Mayor Bill de Blasio’s desk. Twenty-two other states are considering similar measures, from California to Georgia and Vermont, according to the National Conference of State Legislatures. ...

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Shea Moisture pulls an ad after getting hammered on social media

The most tone-deaf ads ever? Another day, another brand under fire for an ad that many customers saw as tone-deaf. Shea Moisture is fighting backlash on social media after the brand, a family-owned business with deep ties to the black community, launched a spot that opened with a black woman discussing the difficulties of dealing with her natural hair, but quickly transitioned to two white women — a blonde and a redhead. One said she didn’t “know what to do” with her hair and the other complained about dyeing it. ...

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In Trump era, Rachel Maddow starts beating Fox News

Fox News normally ranks #1 among cable news channels. But lately MSNBC’s Rachel Maddow has been challenging Fox at 9 p.m., the centerpiece of the prime time schedule. “The Rachel Maddow Show” surpassed “Tucker Carlson Tonight” in March among 25- to 54-year-old viewers, the demographic that determines advertising rates. Maddow was on track to win again in April. But on Monday night the cable news ratings race changes dramatically. Carlson moves from 9 p.m. to 8, replacing Bill O’Reilly, and Fox’s 5 p.m. talk show “The Five” moves to 9. ...

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Verizon launches Google Fiber-like speeds for its entire Fios network

Verizon’s ‘can you hear me now’ man joins Sprint Verizon’s internet service just got faster. The wireless carrier on Monday launched Fios Gigabit Connection, which provides downloads as fast as 940 megabits per second (Mbps) and uploads as fast as 880 Mbps. For comparison, Google Fiber offers a connection up to 1,000 megabits per second. The new service is an upgrade from Verizon’s Fios Instant Internet, which offered upload and download speeds of 750 Mbps, and launched in January. Related: Verizon loses wireless customers for first time Existing customers with ...

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Ontario launches guaranteed income program for 4,000 residents

Can President Trump win the War on Poverty? The Canadian province of Ontario will become the latest place to test a guaranteed income program for low-income residents. The provincial government launched a pilot program on Monday that will provide 4,000 people with a guaranteed income, regardless of their employment status. The idea of a guaranteed — or “basic” — income is gaining currency around the globe. Supporters say the schemes offer workers greater security, especially as technological advances reduce the need for human labor. They also allow unemployed people to ...

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CEO resigns after firm admits paying armed groups in Syria

When is something ‘terrorism’? The chief executive of the world’s largest cement maker will resign after the firm admitted to makingpayments to armed groups in Syria. Eric Olsen will step down as CEO of LafargeHolcim in July after an internal investigation found that managers at the company’s plant in Syria made indirect payments to armed groups in 2013 and 2014 in order to keep the facility open. Olsen denied that he was involved in making the payments. “While I was absolutely not involved in, nor even aware of, any wrongdoing ...

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