US President Donald Trump has warned that any attempt to impeach him would result in the crash of the economy. The President made the claim as the White House struggled to manage the fallout from a plea deal Mr Trump's longtime personal lawyer Michael Cohen made with prosecutors, and the conviction of his former campaign chairman Paul Manafort on financial charges.
The Brazilian currency Real fell to a 31-month low versus the U.S. dollar on Thursday on jitters ahead of the country’s October election. Jitters across emerging markets caused by a stronger U.S. dollar and exacerbated by the unfolding currency crisis in Turkey already took a toll on the Brazilian unit before this week.
United States agro-chemicals company Monsanto is facing a surge in lawsuits that may cost its new owners, Bayer, billions in damages. Monsanto manufactures glyphosate-based weed killers which some believe are carcinogenic. Last month it lost a US$ 289m court case that alleged its products Roundup and RangerPro had led to a Californian man's terminal cancer.
United States Federal Reserve officials discussed raising interest rates soon to counter excessive economic strength but also examined how global trade disputes could batter businesses and households, minutes of the U.S. central bank’s last policy meeting showed.
United States and China are expected to impose fresh tariffs on US$ 16bn of each other's goods on Thursday as their tit-for-tat trade war rages on. The second round of tariffs will see a total of US$ 50bn worth of goods from each side that will now be taxed. Since the opening salvo in July, tensions between the world's two largest economies have escalated, hurting their companies and economies.
The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil.
Most emerging market currencies worldwide rallied on Tuesday after U.S. President Donald Trump criticized the head of the Federal Reserve for raising interest rates, while Brazil's Real fell to its lowest in more than two years on political concerns.
Pope Francis vowed Monday that no effort must be spared to root out priestly sex abuse and cover-up from the Catholic Church, but gave no indication that he would take action to sanction complicit bishops or end the Vatican culture of secrecy that has allowed the crisis to fester.
Donald Trump has called for US companies to issue financial reports just twice a year rather than four times. The US President said he has asked the Securities and Exchange Commission to consider altering rules requiring firms to report every quarter.
The Republican-led Senate passed a resolution affirming its commitment to protecting freedom of speech and condemned recent attacks on journalists and members of the media. In a resolution brought forth by Hawaii Sen. Brian Schatz, a Democrat, and Senate Minority Leader Chuck Schumer, lawmakers affirmed that the press is not the enemy of the people, which passed by unanimous consent.