News Highlights: Top Global Markets News of the Day

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World Bank Chief Economist Paul Romer Resigns

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World Bank Chief Economist Paul Romer has resigned, according a memo viewed by The Wall Street Journal.

Dollar Hits New Low After Mnuchin Says Weakness Aids Trade

The dollar dropped to its lowest point since late 2014 against a basket of leading global currencies following comments from Treasury Secretary Steven Mnuchin that a weaker greenback is good for trade.

U.S. Stocks Falter on Mixed Earnings Reports

Major U.S. stock index wobbled Wednesday, weighed down by concerns of a pickup in trade tensions.

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Airline Shares Drop on Capacity Expansion Plans

Airline shares tumbled on Wednesday as investors fretted that United Continental Holdings Inc.'s expansion plans threatened profit margins and could spark a price war if other carriers follow suit.

Mnuchin Dismisses Concerns About Dollar, Trade

U.S. Treasury Secretary Steven Mnuchin brushed off worries about the dollar Wednesday and expressed little concern over the decision by 11 Pacific Rim countries to forge a new commercial bloc that excludes the U.S.

December Existing Home Sales Wrap Up Best Year Since 2006

Sales of previously owned U.S. homes slowed in December, but 2017 was still the best year for the hot housing market since the mid-2000s boom.

Pro-Business Populists Flummox Davos Man

The global elites at the World Economic Forum in Davos fear populist politicians like Donald Trump, but those politicians are one reason they are reveling in the best economy in years and an epic bull market, Greg Ip writes.

Companies Explore Whether U.S. Can Replace 'Double Irish'

A provision in the newly revised tax code slashes the income tax that companies pay on royalties from the overseas use of intellectual property, making it more attractive to house these rights on American soil.

Commerce Secretary Slams China for Protectionist Actions

U.S. Commerce Secretary Wilbur Ross accused Beijing of serving up protectionism under the guise of free trade, days after the U.S. imposed broad tariffs on solar cells and washing machines.

California, Trump Officials Weigh Vehicle-Emissions Rule Changes

California regulators and Trump administration officials met to discuss for the first time the prospect of changes to vehicle-emissions rules, a significant step in complex negotiations aimed at preventing a legal battle over future environmental regulations on cars and trucks.

(END) Dow Jones Newswires

January 24, 2018 15:15 ET (20:15 GMT)