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Wholesale inflation falls for first time in 18 months, PPI shows - Dotemirates
2 month 6 day

Wholesale inflation falls for first time in 18 months, PPI shows

The numbers: The wholesale cost of U.S. goods and services fell in August for the first time in a year and a half as the recent upturn in inflation appeared to ease, at least temporarily. The producer price index declined by 0.1% last month, the Labor Department said Wednesday. Economists polled by MarketWatch had forecast a 0.2% increase. The drop in wholesale prices was the first since February 2017. One big caveat: The decline was tied to lower margins for services such as retail and transportation, a volatile category of limited use in predicting the pattern of inflation. Still, the...


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41 minute 6 second

Trump says he’s dissatisfied with Kristjen Nielsen, open to John Kelly moving on

WASHINGTON — President Donald Trump made clear that he isn’t satisfied with the performance of two top officials, saying he wants Homeland Security Secretary Kirstjen Nielsen to be “much tougher” and that Nielsen’s biggest defender in the West Wing, chief of staff John Kelly, lacks certain job skills. Trump has been discussing possible successors for both, White House officials said last week, amid broader changes in the administration as it heads into its third year. This month, Trump fired Attorney General Jeff Sessions amid long-running acrimony between the two and ousted deputy national-security adviser Mira Ricardel, who had clashed with...
1 hour 34 minute

Nine-Fairfax deal to proceed after shareholders vote for takeover

Fairfax shareholders have overwhelmingly backed a takeover by Nine Entertainment, paving the way for both companies to merge by the end of this year.At the Fairfax annual general meeting today, 88.6 per cent of votes were in favour of the deal.Antony Catalano, the former head of real estate website Domain, tried to block the deal by submitting a last-minute bid for 19.9 per cent of the newspaper publisher's shares on Sunday evening.However, the Fairfax board knocked back Mr Catalano's offer because it was not considered to be a "superior proposal".Mr Catalano said he would take legal action to prevent the...
1 hour 35 minute

Trump blasts congressman as ‘Little Adam Schitt’

The “Schitt” hit the fan. President Donald Trump blasted Rep. Adam Schiff for questioning why his acting Attorney General Matthew Whitaker wasn’t confirmed by the Senate – misspelling the Democrat’s last name as “Schitt.” “So funny to see little Adam Schitt (D-CA) talking about the fact that Acting Attorney General Matt Whitaker was not approved by the Senate, but not mentioning the fact that Bob Mueller (who is highly conflicted) was not approved by the Senate!,” Trump wrote on his Twitter account on Sunday. Schiff, who’s likely to become the House Intelligence Committee chairman, took to Twitter to fire back...

1 hour 37 minute

Tijuana crowd protests arrival of Central American migrant caravan

TIJUANA, Mexico — Hundreds of residents of this border city took to the streets to protest the arrival of the largest of the Central American caravans making their way through Mexico, a signal of rising unrest as local authorities grapple to provide humanitarian assistance to the thousands of migrants seeking to enter the U.S. Close to 300 protesters gathered a few blocks from the Benito Juárez migrant shelter on Sunday, waving Mexican flags and shouting: “No more caravans! Our poor come first!” Video images posted by local media showed a group of protesters pushing police officers, preventing them from getting...
1 hour 39 minute

Michael Bloomberg donates record $1.8 billion to Johns Hopkins

Former New York Mayor Michael Bloomberg announced Sunday that he is donating a record gift to an academic institution — $1.8 billion to his alma mater, Johns Hopkins University. Bloomberg said the boatload of money will ease the financial burden of low- and middle-income students at the prestigious Baltimore school by eliminating their need for loans. “America is at its best when we reward people based on the quality of their work, not the size of their pocketbook,” the three-term mayor and potential 2020 presidential candidate said in a statement. “Denying students entry to a college based on their ability...
1 hour 57 minute

Banking royal commission hears from big bank bosses

By business reporter Michael Janda The Commonwealth Bank's chief executive and chairman will be the first bosses to take the stand as the banking royal commission questions the culture and governance of Australia's financial institutions.The commission will focus on how poor customer outcomes, such as fees for no service, continued for years without management intervening to stop them.Follow the blog for the latest developments.