Economy: Latest Financial Topics from CNN Money


Here is the latest Economic News from CNN Money.

U.S. officials think Brexit is a terrible idea
Eight former leaders of the U.S. Treasury have issued a warning to Britain: Don’t even think about leaving the European Union.

Bernie Sanders supports student fossil fuel sit-in
Bernie Sanders tweeted his support for students at Columbia University and NYU who are demanding that their universities dump fossil fuel investments.

Census settles hiring lawsuit over criminal records
The Census Bureau has reached a $15 million settlement in a class action lawsuit that alleged it discriminated against black and Latino workers who had criminal histories.

Brexit fans want the U.K. to be more like Canada
U.K. politicians campaigning to leave the European Union are hoping to negotiate an unprecedented free trade agreement instead.

Silver hits 11-month high. It’s up more than gold in 2016
Silver shot up 4.5% Tuesday. It’s now one of the best investments of 2016.

Beijing to officials: Your family can’t start a business
China’s Communist Party is targeting its own officials by expanding a program that restricts the business activities of their family members.

Saudi Arabia’s money ties to the U.S. are massive…and murky
There’s a lot of mystery over just how much U.S. debt Saudi Arabia actually owns. That’s a big deal given that the Saudis have threatened to dump U.S. assets if the 9/11 bill is passed.

My American Dream: Offering legal help to other immigrants
A generous community helped Akbar Hossain to realize his American Dream. Now Akbar is studying law and hopes to help immigrants from low-income communities, much like his own family.

This guy thinks banks are STILL too big to fail. And he’s not Bernie Sanders
Neel Kashkari, head of the Minneapolis Fed, continues to say what Bernie Sanders does: banks are still too big to fail.

Nordstrom slashes 400 jobs
Nordstrom said Monday they’ll cut 350 to 400 jobs by August, making it the next brick-and-mortar retailer to scale back its workforce. The company said the layoffs will primarily affect corporate and regional office positions.

Donald Rumsfeld rants about tax code madness
Donald Rumsfeld sends a letter to the IRS every year pleading for tax simplification. He’s still waiting for a response.

Gun industry surge adds tens of thousands of jobs
National Shooting Sports Foundation reports nearly 10% increase in gun industry jobs in 2015.

Americans give the economy a “C” grade
There’s a vast gap between how Wall Street and Main Street view the U.S. economy. A new CNNMoney/E*Trade poll found the majority of Americans give it a C grade — or worse.

Brexit scenarios: The good, the bad and the ugly
What options would Britain have if it leaves the European Union, and how would they impact the economy?

Bernie Sanders asks if Wall Street is necessary
Bernie Sanders was slammed for being unable to talk specifics on his plans to break up big banks. Now he can cite Dodd-Frank with ease.

The ‘fakes’ industry is worth $461 billion
The shady business of ‘fakes’ has ballooned into a global industry worth as much as $461 billion, according to the OECD.

5 of America’s fastest growing jobs pay less than $25,000
Half of the occupations expected to grow the fastest over the next decade will pay peanuts, according to federal jobs data.

Top oil countries struggle to reach deal on production freeze
A meeting designed to foster cooperation between top oil producers stretched into the evening hours Sunday in Qatar.

China official: Donald Trump ‘is an irrational type’
China’s finance minister, Lou Jiwei, has weighed in on one of the biggest headlines of the U.S. presidential race: Donald Trump’s controversial proposals on trade.

Jack Lew nears decision to keep Hamilton on front of $10 bill, put a woman on the $20
Treasury Secretary Jack Lew is expected to announce this week that Alexander Hamilton’s face will remain on the front of the $10 bill and put a woman on the front of the $20, a source told CNN.

Emerging markets have rallied. Will it last?
Emerging markets have bounced back from their lows and now the question is whether the comeback is here to stay.

Pope Francis and Bernie Sanders want a ‘moral economy.’ What is it?
Pope Francis and Bernie Sanders want a ‘moral economy.’ What is it?

Trump and Cruz predict stock market crash
The two leading Republican candidates for president warn the stock market is in a bubble.

Brexit vote: A short guide to the next two months
The campaigning over Britain’s future in Europe has officially begun and financial markets are nervous. Here’s what happens next in the EU referendum.

Ted Cruz vows 5% economic growth
Ted Cruz believes the U.S. economy will skyrocket if he’s in the White House. He says he can more than double growth.

Africa’s top 4 economies are in trouble
Africa’s top economies — South Africa, Nigeria, Angola and Kenya — are all suffering for different reasons.

Good news for stocks — Caterpillar leads market
Caterpillar is the top performer in the Dow this year. Given its exposure to China and other emerging markets as well as the commodities world, it’s encouraging that this stock is back on track.

India and Iran renew oil bromance in post-sanctions world
India needs more oil and Iran is eager to regain the share of the world crude market it lost during sanctions.

China posts slowest quarterly growth in seven years
China is getting a slow start out of the gate this year, growing at its slowest pace in seven years during the first quarter.

Mexico forced to rescue drowning oil giant Pemex
Years of red ink and declining production have put Mexico’s state-owned oil company in financial trouble. Now the Mexican government is coming to the rescue.

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The cost of bringing home American jobs
There are several ways to bring manufacturing jobs back to the United States. But each come with their own pitfalls and perils.

Top 50 U.S. companies hold $1.4 trillion in cash offshore
The top 50 U.S. companies currently hold about $1.4 trillion in cash offshore to avoid paying billions in taxes, according to a new report by Oxfam America.

Oil producers face stark choice in key meeting
When the world’s major oil producers gather this weekend in Doha, they will face a choice: agree to freeze crude production at current levels, or risk sending prices into another downward spiral.

Grads with rich parents likely to earn more than classmates
Even if they have the same degree from the same university, graduates from richer family backgrounds tend to earn significantly more than their counterparts from poorer backgrounds, according to a study that analyzed the tax returns and student loan records of 260,000 British graduates.

Argentina wins big victory to end 15 years in default
Judges in the U.S. Court of Appeals upheld a ruling that allows Argentina to return to foreign capital markets for the first time since 2001.

Puerto Rico is losing a doctor a day
Read full story for latest details.

Warning sign: shoppers go cold in March
Retail sales dropped 0.3% in March compared to February, a significant decline and another concerning sign for U.S. economic growth.

Patricia Arquette: ‘I struggled to buy diapers for my son’
‘We need equal pay and we need it now,’ actress Patricia Arquette told CNN’s Paula Newton on National Equal Pay Day.

Oil hits new 2016 high
Oil prices reached a new 2016 high Tuesday on rumors that Saudi Arabia and Russia have reached a deal to freeze oil output.

Venezuela: the land of 500% inflation
Inflation in Venezuela will increase by nearly 500% this year and a whopping 1600% in 2017, according to new projections by the IMF.

Cheap oil isn’t Saudi Arabia’s only big risk
Fitch has warned of rising political uncertainty in Saudi Arabia, and dangerous geopolitical tensions in its volatile neighborhood.

Europe plans to force big firms to come clean on profits and tax
Thousands of big companies could soon be forced to publicly divulge their juicy secrets about earnings and taxes around the world, under new rules proposed by European officials.

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