Ford Motor Company shares have outperformed the S&P 500 in 2021, generating a year-to-date total return of 97.8 percent. But after nearly doubling in share price this year, investors may be wondering if there’s any value left in Ford stock. Earnings: A price-to-earnings ratio (PE) is one of the most basic fundamental metrics for gauging a…
US Treasury Increases Q4 Borrowing Estimate
The U.S. Treasury said on Monday it plans to borrow $1.015 trillion in the fourth quarter, more than the August estimate of $703 billion, due to having a lower balance at the beginning of the quarter. The fourth-quarter estimate assumes an end-Dec. cash balance of $650 billion. The Treasury has been cutting issuance since February,…
IRS Plan to Collect $400 Billion in Unpaid Taxes Relies on ‘More Cops on the Beat’: Treasury
The federal government is aiming to obtain $400 billion in new revenue over the next decade as part of the White House-backed $1.75 trillion social spending plan, according to a top Treasury official. Increased Internal Revenue Service enforcement to collect unpaid taxes makes up the largest source of revenue in the legislation to be considered by…
Strong Tech Support Could Help Sell Congress on Global Tax Rules: Yellen
November 1, 2021
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DUBLIN—U.S. Treasury Secretary Janet Yellen said she expected U.S. tech giants to broadly support the reallocation of taxing rights agreed to by nearly 140 countries as part of a broader deal on global taxes, saying the impact on U.S. companies should be minor. Yellen told Reuters on Sunday the support of the big global players…
China Developer Yango Aims to Avoid Defaults With Bond Swap Backed by Its Chief
SHANGHAI—Chinese homebuilder Yango Group offered on Monday to exchange some U.S. dollar bonds for new notes personally guaranteed by its chairman, as it struggles to free up cash and avoid defaulting on upcoming debt payments. Yango’s liquidity crunch comes against the backdrop of a debt crisis at larger rival company China Evergrande Group, which has…
Construction Spending Unexpectedly Falls in September
WASHINGTON—U.S. construction spending unexpectedly fell in September amid declines in outlays on both private and public projects. The Commerce Department said on Monday that construction spending dropped 0.5 percent after edging up 0.1 percent in August. Economists polled by Reuters had forecast construction spending gaining 0.4 percent. Construction spending increased 7.8 percent on a year-on-year…
Relentless Shortages, High Prices Hamper US Manufacturing
November 1, 2021
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WASHINGTON—U.S. manufacturing activity slowed in October, with all industries reporting record-long lead times for raw materials, indicating that stretched supply chains continued to constrain economic activity early in the fourth quarter. The Institute for Supply Management (ISM) survey on Monday also hinted at some moderation in demand amid surging prices, with a measure of new…
Reciprocal Lowering of Some US–China Tariffs Could Help Reduce Inflation: Yellen
November 1, 2021
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Business & EconomyChinaChina Business & EconomyEconomieseconomyinflationMarketsPoliticsU.S.-China tariffUSUS NewsUS-China relations
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Treasury Secretary Janet Yellen said that the United States expects China to make good on its pledge to buy more U.S. goods under a trade deal signed last year by President Donald Trump, while noting that a reciprocal rollback of some tariffs could be a “desirable outcome” that helps ease inflation. Yellen made the remarks…
Dollar Edges Lower as Fed Policy Decision Looms
November 1, 2021
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NEW YORK/LONDON—The dollar eased versus its main rivals on Monday, after posting its biggest daily rise in more than four months in the previous session as hedge funds cut back bearish bets ahead of this week’s highly-anticipated U.S. Federal Reserve policy meeting. Monetary policy in the United States, Australia, and the United Kingdom is in…
Biden Pick for Fed Chair Expected Soon, Yellen Says
November 1, 2021
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DUBLIN—U.S. Treasury Secretary Janet Yellen said President Joe Biden should pick an “experienced and credible” person as Federal Reserve chair to reassure markets, and while current chair Jerome Powell fit the bill, others would too. Powell, a Republican placed in the job by former President Donald Trump, is widely favored to win reappointment to another…
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