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Mnuchin: 2020 deadline for Tubman $20 bill not possible

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin on Friday called “completely erroneous” a published report that an initial 2020 deadline for completing the design of a $20 bill featuring Harriett Tubman could have been met. Mnuchin told a congressional committee last month that the redesign of the $20 bill featuring Tubman, a 19th century abolitionist leader, had to be delayed. But The New York Times on Friday published an image of a $20 bill featuring Tubman which it said it had obtained from a former Treasury Department official. The image depicts the bill featuring ...

Stocks post small losses; investors look ahead to Fed

NEW YORK (AP) — Stocks ended a choppy week of trading with modest losses Friday as investors look forward to getting more clues about the direction of interest rates. Technology shares drove the declines, and energy stocks also fell a day after leading the market. Some late-day gains in banks and insurers helped temper the market's losses. Investors dealt with fresh concerns about the impact on businesses of the U.S. trade dispute with China. The chipmaker Broadcom warned that demand for chips has slowed because of U.S. restrictions on sales to Chinese technology firms and ...

U.S. hiring slows amid trade rifts, weaker global economy

WASHINGTON (AP) — U.S. hiring stumbled in May as employers added just 75,000 jobs, a sign that businesses have become more cautious in the face of weaker global growth, widening trade conflicts and perhaps some difficulty finding enough workers. Last month’s modest job gain followed a much healthier increase of 224,000 in April. The Labor Department said Friday that the unemployment rate remained at a nearly 50-year low of 3.6%. The tepid job growth, along with rising pressures on the economy, makes it more likely that the Federal Reserve will cut rates in the coming months. Bond ...

US stock market notches best week since late November

Wall Street turned the page on a painful May in the stock market by notching its best week since late November. Stocks climbed for a fourth consecutive day Friday, capping a week of gains that reversed most of the losses in May, when President Donald Trump’s tariff threats escalated trade wars with China and Mexico. The latest rally came as investors welcomed a report showing that the U.S. added fewer jobs than expected last month. The lackluster snapshot of hiring appeared to increase the odds that the Federal Reserve will have to cut interest rates in coming months. Stocks ...

Trade war clouds outlook as finance chiefs meet in Japan

FUKUOKA, Japan (AP) — Finance ministers and central bank governors meeting in Japan this weekend will try to make headway on longstanding issues such as how much global giants like Facebook and Amazon should pay in taxes. They’re likely to end up focusing a large share of their attention, however, on how to keep global growth on track when the world's two biggest economies are entrenched in an escalating trade war. U.S. Treasury Secretary Steven Mnuchin, who has headed trade talks with Beijing along with U.S. Trade Representative Robert Lighthizer, was due to meet with Yi Gang, ...

FedEx will stop air shipments of packages for Amazon

FedEx is dropping a contract for air shipment of packages for Amazon within the United States, reducing its ties with the online retail giant that is already expanding its own delivery business. FedEx said Friday that it will not renew the contract for domestic FedEx Express handling of Amazon shipments when the deal expires June 30. It’s “a strategic decision” that will let FedEx focus on thousands of other retailers including Target, Walgreens and Walmart, company spokeswoman Katie Wassmer. In a statement, Amazon said only that it respected FedEx’s decision and thanked the ...