Millennials have a much lower net worth than previous generations, according to a new study. The average net worth of Americans between the ages of 18 to 35 is less than $8,000 -- about 34 percent lower than in 1996, a Deloitte study published Wednesday found. Despite clichés that millennials are “ruining everything from movies to marriage,” the study found millennials are actually under more economic pressure because of numerous increased costs over the last decade.
If the ongoing tensions between Beijing and Washington force companies to develop two different sets of technologies -- one for China and its aligned countries, and the other for the rest of the world -- then it would be bad news for everyone, according to a senior executive at a multinational tech firm.
Secretary of State Mike Pompeo told FOX Business’ Maria Bartiromo that Huawei Technologies' ties to the Chinese Communist Party pose the greatest threat to America’s economic and national security. “Huawei is an instrument of the Chinese government. They’re deeply connected. It’s something that hard for Americans to understand,..."
In the U.S., apparently not every dollar is equal. The value of $1 varies depending on where you go. According to new data compiled by 24/7 Wall Street from the Bureau of Economic Analysis (BEA), a dollar goes the furthest in America's "poorest states," such as Mississippi and Alabama.
As regulators prepare to tighten U.S. export controls with an eye toward restricting technology transfers to China, industry groups are pushing back, arguing that overly restrictive rules would cost U.S. industry hundreds of billions in export sales.
It has been more than 10 years since the collapse of Lehman Brothers, which began a global financial crisis and an economic recession - a period of time that fundamentally changed the American economy. Although the data today shows that the country overall has seen economic improvement, the reality is that rural America hasn’t seen the same benefits as urban areas.
The United States has agreed to lift its tariffs on industrial metals from Mexico and Canada, clearing a major obstacle to congressional passage of President Trump's new North American trade deal. The bargain calls for Mexico and Canada to adopt tough new monitoring and enforcement measures to prevent Chinese steel from being shipped to the U.S. via their territory.
As the trade talks between the United States and China continue, the trade imbalance is just one part of a much larger struggle between the two largest economies in the world. What many don’t realize is that Chinese companies listed on U.S. stock exchanges pose a very serious and imminent risk to the U.S. economy. In fact, it strikes at the very heart of the U.S. financial system.
Sen. Marco Rubio (R-FL) released a report Wednesday calling on American businesses and policymakers to invest more in domestic capital in the United States and less on short-term financial profit for lasting economic growth and prosperity.
Companies were bracing Monday for how Beijing might retaliate against President Trump's escalation of a fight over technology and trade that threatens to disrupt a Chinese economic recovery. China has threatened "necessary countermeasures" for Mr. Trump's tariff hikes Friday on $200 billion of Chinese imports. But three days later, in a break with previous tit-for-tat penalties that were imposed immediately, Beijing had yet to announce what it might do.