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Trump threatens to cut GM subsidies. Here’s the real story
"Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland," Trump tweeted. "We are now looking at cutting all @GM subsidies, including for electric cars." GM (GM) stock declined as much as 3.8% on the comments. GM closed 2.6% lower, wiping out a chunk of Monday's gains. Trump's threat came a day after GM announced plans to cut 14,000 jobs and shut…
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Alibaba founder Jack Ma is a member of the Communist Party
Jack Ma, founder and executive chairman of Chinese e-commerce juggernaut Alibaba (BABA), with a net worth of more than $30 billion, was identified Monday as a Communist Party member by the People's Daily, the ruling party's official newspaper. The 54-year-old was being honored by the Chinese government as one of 100 people who have made "outstanding contributions" to China's economic transformation in the past four decades. The revelation — for…
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Trump hints at new tariffs on Apple in WSJ interview
The President told the Wall Street Journal in an interview published Monday that it was "highly unlikely" he would accept an offer by Chinese leader Xi Jinping aimed at averting Trump's plan to raise tariffs on more than $200 billion of Chinese goods to 25% in January. He also warned once again he was poised to slap a third round of tariffs on Chinese goods if the two leaders fail…