Bank of America releases first-quarter earnings

[ad_1] UBS Global Wealth Management portfolio manager Angie Newman discusses the market reaction amid trade tensions and gives advice to clients and investors. Bank of America topped estimates for first-quarter profit as interest income grew and volatile markets helped its stock traders rake in a record haul. As markets whipsawed around U.S. President Donald Trump’s…

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Trump tariffs could prove nearly as harmful to U.S. auto market as Lehman collapse and COVID outbreak, warn S&P forecasters

[ad_1] President Trump’s tariffs that took affect earlier this month are proving to be almost as disruptive to the U.S. auto industry as the global coronavirus pandemic and the Lehman Brothers bankruptcy.  On Monday, auto industry forecaster S&P Global Mobility cut a staggering 700,000 cars and light trucks from its U.S. sales estimate for this…

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What a $34,000 bag really costs: Chinese suppliers show luxury goods at 90% lower prices amid trade war with US

[ad_1] Chinese manufacturers who supply high-end products to global luxury brands like Birkin and Louis Vuitton are now selling similar items directly to consumers online at a fraction of the original prices. Viral videos on social media show these suppliers offering the same goods—minus the branding—at nearly one-tenth the market price. Luxury products at factory…

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Trump admin steps toward pharma, semiconductor tariffs

[ad_1] Former Chrysler chairman and CEO Bob Nardelli explains how President Donald Trump’s tariffs impact the automotive industry on ‘The Bottom Line.’ President Donald Trump’s administration is ramping up probes into U.S. semiconductor and pharmaceutical imports this week, the latest sign that Trump plans to hit the sectors with tariffs. Monday filings with the Federal…

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