Valuations on Wall Street may be stretched by a number of metrics, but that’s not stopping the market’s youngest investors from thinking that now is a good time to jump in.
You could be getting a lot more out of your credit cards than you think. …read more
By Heather Long
Venezuelan President Nicolás Maduro celebrates election results after a national vote on his proposed Constituent Assembly at Plaza Bolivar in Caracas, Venezuela, on July 31. (Nathalie Sayago/European Pressphoto Agency).
The White House on Monday issued sanctions against Venezuelan President Nicolás Maduro, freezing his U.S. assets and prohibiting Americans from dealing with him.
The sanctions come after Maduro’s regime on Sunday went through with a controversial vote to replace Venezuela’s current legislature with a new body more loyal to Maduro. President Trump and other world leaders had warned Maduro of “swift” consequences if he held the election, which many observers saw as an illegitimate bid by the embattled regime to consolidate power over a country in crisis.
“Yesterday’s illegitimate elections confirm that Maduro is a dictator who disregards the will of the Venezuelan people,” U.S. Treasury Secretary Steven Mnuchin said Monday. “By sanctioning Maduro, the United States makes clear our opposition to the policies of his regime.”
The sanctions on Maduro come mere days after the United States placed similar sanctions on 13 top Venezuelan government officials.
“This is a really big escalation in pressure,” said Elizabeth Rosenberg, a former U.S. Treasury official under President Obama.
The Trump administration stopped short of imposing any sanctions on Venezuela’s critical oil industry. Venezuela accounts for 10 percent of U.S. oil imports.
The Treasury Department on Monday slapped sanctions on Venezuelan President Nicolas Maduro, sending a clear signal of the Trump administration’s opposition to his regime. …read more
Companies, including energy companies and insurers, favor greater disclosure of the risk of climate change and investors are on board too.
Protesters carry signs during a health care rally in front of Trump Tower in New York. (Bryan R. Smith/AFP)
As President Trump urges politicians to “let Obamacare implode,” suggesting that the law will unravel on its own and leave people across the country with no health-insurance options, states are finding their own ways to fill in the gaps in coverage for next year.
3 Republicans and 48 Democrats let the American people down. As I said from the beginning, let ObamaCare implode, then deal. Watch!
— Donald J. Trump (@realDonaldTrump) July 28, 2017
Ohio’s insurance director announced Monday that by working together with five companies, all but one of its counties would have insurance options next year on the exchanges created by the Affordable Care Act. Twenty Ohio counties had been at risk of being bare in 2018, with no insurers selling plans on the exchanges where people can buy health coverage with the aid of federal subsidies. That void was created in June when the major insurer, Anthem, announced that it would pull out of the state.
“Ohio has long had a strong insurance system, and once again our insurers stepped up at an important time for thousands of Ohioans, taking unprecedented action to provide access to health insurance for Ohioans who otherwise were without options,” insurance director Jillian Froment said in a statement.
A single Ohio county, Paulding County, still has no insurer expected to offer plans on the exchange. Froment said that regulators are searching for coverage options for that county.
By Steve Hanke, Contributor Why was international financial officialdom so eager to raise banks’ capital-asset ratios? The starting point for the global bank capital obsession is found in Britain and its infamous Northern Rock affair. Indeed, this was the true beginning of the Great Financial Crisis and the Great Recession. …read more
Corporate America can’t get out of Venezuela fast enough. …read more
Company stocks tumbled as much as 10%, but a Wall Street analyst called it a buying opportunity.