News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Bank of England Raises Interest Rates for First Time in a Decade

Continue Reading Below

The Bank of England raised its benchmark interest rate for the first time in a decade, a telegraphed move that represents the latest step by the world's major central banks to withdraw crisis-era stimulus.

Stocks Decline as Investors Parse Tax Plan, Earnings Reports

Major U.S. stock indexes wobbled as investors assessed House Republicans' proposal to conduct the biggest transformation of the tax code in decades.

Republicans Stick With Big Corporate Tax Cuts in House Bill

The Tax Cuts and Jobs Act would permanently chop the corporate tax rate from 35% to 20%, compress the number of individual income tax brackets, and repeal the taxes paid by large estates starting in 2024, according to a detailed summary of the plan reviewed by The Wall Street Journal. The plan would seek the biggest transformation of the U.S. tax code in more than 30 years.

Continue Reading Below

Mr. Ordinary: Who Is Jerome Powell, Trump's Federal Reserve Pick?

There are two types of Fed chairman-commanding personalities and consensus builders-and the likely nominee is expected to be one of the latter. A look at his career shows Mr. Powell to be a low-key pragmatist.

Trump's Nafta Threat Casts Pall Over Business Plans

While many view President Trump's threat to withdraw from the North American Free Trade Agreement as a negotiating tactic, some businesses with cross-border operations are preparing for the possibility.

U.S. Worker Productivity Jumped in Third Quarter

U.S. workers boosted output per hour this summer at the best rate in three years, a sign that long sluggish productivity gains might finally be breaking out.

U.S. Jobless Claims Fall Despite Hurricane Effects

The number of Americans filing applications for new unemployment benefits fell last week, despite hurricane-ravaged Puerto Rico beginning to process a backlog.

U.S. Sets Final Tariffs for Canadian Softwood Lumber

The U.S. set big tariffs on imports of softwood lumber from Canada, increasing economic tensions between Washington and Ottawa at a time when North America's trade architecture is in jeopardy.

ISM-New York Business Index Grew in October

Business conditions across New York City rose in October, according to a report released Thursday.

Bitcoin Hits $7,000 as Wall Street Interest Gets Real

The price of the digital currency bitcoin smashed through the $7,000 mark for the first time, another milestone for the surging asset.

(END) Dow Jones Newswires

November 02, 2017 15:15 ET (19:15 GMT)