Bloomberg Harley-Davidson Inc. cut its forecast for profit margin this year, adding to its predictions of damage done by President Donald Trump’s trade war. Operating margin will drop to between 9 percent and 10 percent this year due to the expected impact of tariffs, the Milwaukee-based manufacturer said in a statement. The company had been projecting a margin of as ...

Bloomberg US farmers will see the first payments of a $12 billion subsidy program designed to shield them from a burgeoning trade war starting in September, Agriculture Secretary Sonny Perdue said. “The mitigation payments will be eligible in September in some degree and into October and the fall,” Perdue said on the sidelines of an event at the U.S. Embassy ...

Bloomberg President Nicolas Maduro announced a two-week delay to a planned currency redenomination to August 20, when Venezuela will lop five zeroes off the refurbished bolivar and also link it to the country’s Petro cryptocurrency. By “anchoring” the Sovereign Bolivar, as the new currency will be called, the Petro will help stabilize the economy, Maduro said in a speech on ...

Bloomberg Robots could destroy about 7 million existing UK jobs but create at least that many more over the next two decades, according to analysis by PricewaterhouseCoopers. There will still be winners and losers. Worst hit will be manufacturing, which could see 25 percent of current staff cut by 2037 because of artificial intelligence and related technologies, the report said. ...

“The Federal Reserve is meant to be independent of parochial political interests. But it’s got to operate — I think of this as a kind of band, sometimes wide, sometimes narrow — within the range of understanding of the public and the political system. You just can’t go do something that is just outside the bounds of what people can ...

A beleaguered Argentina had hosted the G-20 finance ministers to work out the agenda for their leaders’ December conclave in Buenos Aires. While officially focussed on infrastructure and the future of work, these more technical discussions were overshadowed by US tariff threats and President Donald Trump’s belligerence towards allies and the World Trade Organization. The US attack on the global ...

It hasn’t been Big Oil’s finest week. Exxon Mobil Corp does things bigger than most, and that also applies to missing expectations, it seems. It reported earnings and cash flow per share in the latest quarter that were both short of consensus forecasts by more than 20 percent. Production of oil and gas, especially the latter, fell heavily. As a ...

The hyped Twitter “recovery” has derailed. The company’s second-quarter financial report showed that the number of people using Twitter has stagnated and will decline, although the company said that’s at least in part because of intentional decisions to clean up its cesspool. Revenue growth, particularly in Twitter Inc’s vital US advertising market, is tepid for what was billed as a ...

Did the global economy dodge an economic bullet? The US and the European Union agreed to step back from the brink of imposing mutually punishing tariffs. The agreement — if there really is one — contemplates a future agreement to resolve trade differences. Like Brexit, this is an unformed plan to somehow resolve thorny differences at an undetermined date in ...

China Tower Corp’s Hong Kong IPO looks like a pretty straightforward affair. The business is about as vanilla as it gets: The company builds and runs towers on which telecom operators hang their transmission equipment. It collects rent in return. No need to wrestle with GMV, MAU or ARPU. There’s a reason why fund managers and index compilers treat global ...