China Reports Biggest-Ever Annual Trade Surplus With U.S.
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China's annual trade surplus with the U.S. hit a record high in 2017, according to Chinese data, a development that may reignite criticism by President Donald Trump's administration over what it sees as China's unfair trade practices.
Asia Stocks Rebound After U.S. Highs
Most Asia-Pacific stock markets chalked up modest gains early Friday after fresh records on major U.S. indexes, stemming two days of declines in the region.
Fed's Dudley Makes Case for Rate Rises, Warns of Overheating Risks
New York Fed President William Dudley said the case for rate rises this year remains robust amid risks the economy could overheat, and warned that the new tax law could boost the U.S. deficit over time.
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Watchdog Finds No Political Interference in Tax-Bill Analysis
Career Treasury Department staffers were "fully engaged" in the process of analyzing a Republican tax bill, and denied that political appointees had taken over the process, according to a government watchdog inquiry.
Tax Overhaul's New Withholding Calculations for Paychecks Are Released
The Treasury Department updated its rules for tax withholding from paychecks, changing calculations so most workers will start getting more take-home pay in February as a result of the recently passed tax law.
U.S. Ran $23 Billion Budget Deficit in December, Treasury Says
The federal budget deficit for December narrowed from a year ago, amid flat government spending and higher tax receipts, the Treasury Department said.
The Spark Behind Iran's Unrest: Millions of Defrauded Investors
The collapse of investment firms offering outlandish returns fueled the protests that grew into the biggest challenge to the regime since 2009. Iranians blame the firms for pocketing funds and the government for not adequately regulating the industry.
Argentina Fails to Tame Stubborn Inflation
Argentina significantly overshot its inflation target in 2017 as prices rose almost 25% from the previous year, raising questions about the country's ability to tame a problem that has plagued it off and on for decades.
Senate Panel to Vote Again Wednesday on Powell's Fed Nomination
The Senate Banking Committee will vote next week for the second time on the nomination of Jerome Powell to be the next Federal Reserve chairman, a spokeswoman said.
Jockeying Is Under Way to Succeed ECB's Draghi
The first decisions narrowing the field of potential successors to become the next head of the European Central Bank in 2019 are just weeks away, Todd Buell writes, with the role of Germany looming as a central question.
(END) Dow Jones Newswires
January 12, 2018 01:15 ET (06:15 GMT)