National Economic Council Director Larry Kudlow, a top economic adviser to President Trump, said Wednesday that the White House plans to unveil a plan for additional tax cuts later in 2020. “I am still running a process of Tax Cuts 2.0. We’re many months away – it’ll come out something later during the campaign,” Kudlow told CNBC. “Tax Cuts 2.0 to help middle-class economic growth: That’s still our goal.” As one of the Trump administration’s biggest victories of the president’s first term in off

CEO of Amazon Jeff Bezos (R) greets along with Amit Agarwal, senior vice president and country manager for Amazon India, during the Amazon’s annual Smbhav event in New Delhi on January 15, 2020. Bezos appeared on stage Wednesday at Amazon’s Smbhav event in New Delhi for a fireside chat alongside Amit Agarwal, who heads Amazon’s India operations. The company said there are more than 550,000 sellers on the Amazon India marketplace and more than 60,000 Indian manufacturers exporting their goods wor

Google recently launched an update to its Google Smart Lock app on iPhone that allows you to use your iPhone to securely log into a Google account. For example, you can set it up to receive a special code via text message when you try to log into Google. But with the Google Smart Lock update, you just have to tap a confirmation box on your iPhone that you’re trying to log in. To get started, just download the new Google Smart Lock app from the iTunes App Store and follow the setup steps that ask

Shake Shack’s exclusive partnership with GrubHub will ultimately be good for the fast food chain, according to Goldman Sachs, who sees the restaurant’s stock rallying 80% from here. Goldman Sachs, which has a buy rating on Shake Shack, has a price target of $115 per share, while the fast food company closed at $64.10 a share on Tuesday. Shares of Shake Shack tanked about 14% in November after its third quarter earnings showed disappointing same-store sales growth. Some analysts attribute the wea

Goldman Sachs sold its entire stake in ride-hailing giant Uber in the fourth quarter, according to a person with direct knowledge of the move. The sale, which likely resulted in a large gain for the early investor in Uber, helped New York-based Goldman beat analysts’ expectations for revenue in the period. It couldn’t be immediately determined why the bank sold its stake. In the past, Goldman’s public and private holdings in companies from Uber to WeWork have caused volatility in quarterly resul

CNBC’s Jim Cramer said Wednesday that “tariffs worked” as a means to prod China to agree to a phase one trade deal with the United States. “Tariffs were not supposed to work,” said Cramer, who has all along been a supporter of President Donald Trump’s hard line approach towards China. The centerpiece of the initial trade deal is a pledge by China to purchase an additional $200 billion worth of U.S. goods. It also cut in half to 7.5% the levy rate on about $120 billion worth of other China import

According to Glassdoor economist Daniel Zhuo, there are a number of unfilled jobs after the holiday slump that recruiters are eager to fill at the top of the year. “Our advice to job seekers is to be patient but proactive,” says Zhuo. Using data from its platform, Glassdoor created a list of the best jobs in 2020 that job seekers should keep a close eye on. Seven of the top 10 jobs on the list are in tech, with front-end engineer coming in at the top spot. Take a look below to see what roles rou

Target had been expected to be a standout among retailers for holiday sales, but the big box retailer reported disappointing results Wednesday. Especially this holiday season, Target was expected to be a winner in the toys category. But this holiday season, Target said toy sales were about flat with the prior year. Target said electronics sales were down more than 6% in November and December, while sales of home items were down about 1%. The firm said the apparel category grew just 1%, while dep

WASHINGTON — House Intelligence Committee Chairman Adam Schiff and Judiciary Committee Chairman Jerry Nadler will be part of a team of seven impeachment managers at President Donald Trump’s upcoming Senate trial, House Speaker Nancy Pelosi announced on Wednesday morning. Trump’s impeachment trial in the Senate is expected to begin Tuesday, according to Senate Majority Leader Mitch McConnell. The job of the impeachment managers in a Senate trial is to lay out the House approved arguments for rem

House Speaker Pelosi: Schiff to be lead impeachment managerHouse speaker Nancy Pelosi holds a news conference announcing the managers who will transmit the articles of impeachment to the Senate.

Check out the companies making headlines before the bell:Bank of America (BAC) – Bank of America reported fourth-quarter earnings of 74 cents per share, 6 cents a share above estimates. Revenue also came in above Wall Street forecasts, boosted by increasing inflows into its exchange-traded funds as well as its cash-management business. Revenue beat estimates, with record consumer and wealth management revenues as well as record assets under management. UnitedHealth (UNH) – The health insurer rep

U.S. producer prices edged up in December as a rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to keep interest rates unchanged this year. The Labor Department said on Wednesday its producer price index for final demand ticked up 0.1% last month after being unchanged in November. For all of 2019, the PPI rose 1.3%. Excluding the volatile food, energy and trade services components, producer prices

Treasury Secretary Steven Mnuchin believes the U.S. trade war with China will have been worth it even if an incomplete deal is all that is reached. He described the administration’s view of economic policy to explain why he thinks the phase one deal is good enough to have been worth the trade war. We now have USMCA that’s going to pass the Senate this week, we have China phase one, there’s a deal with Japan, a deal with Korea – these are all going to have significantly positive effects on the 20

Goldman Sachs on Wednesday beat analysts’ estimates for revenue, but quarterly profit was marred by a $1.1 billion litigation charge. The New York-based bank posted quarterly revenue of $9.96 billion, a 23% increase and more than $1 billion higher than the $8.51 billion expected by analysts. On Tuesday, J.P. Morgan and Citigroup posted profit that beat analysts’ expectations on surging bond-trading results and strong revenue from credit-card operations. Wells Fargo missed analysts’ profit estima

Hakan Sukur of Turkey controls the ball as Sang Chul Yoo of South Korea closes in during the FIFA World Cup Finals 2002 Third Place Play-Off match played at the Daegu World Cup Stadium, in Daegu, South Korea on June 29, 2002. Hakan Sukur scored soccer’s fastest ever World Cup goal when he netted in less than 11 seconds for Turkey against South Korea in 2002. But rather than enjoying a comfortable retirement as a sporting hero, Sukur now drives an Uber in America, he told German paper Welt am Son

The EU aims to use 1 trillion euros (around $1.11 trillion) for “sustainable investments” across the coming decade. Brussels released details of its “European Green Deal” back in December, describing it as a “roadmap” to make the bloc’s economy sustainable. One of the deal’s key aims is for the EU to be climate neutral by the year 2050. Breaking things down further, it’s envisaged that the EU budget will contribute 503 billion euros to the overall investment plan. The Just Transition Mechanism i

Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a future “phase two” trade deal with Beijing would ease U.S. tariffs on goods purchased from China even if the next agreements are segmented into multiple rounds. But the deal is also expected to lower structural barriers for American companies hoping to do business in China. Such practices, combined with Beijing’s policy of subsidizing domestic business, can build competitive rivals to American companies seemingly overnight. One of t

U.S. rate-setters could set negative interest rates in the future, despite their own current doubts about the risks of this unconventional measure, Goldman Sachs told CNBC Wednesday. When central bankers implement negative interest rates, it means that banks, for instance, are paying to store cash. They believe negative rates have consequences, such as denting banks’ balance sheets, which could have wider impacts on the economy. However, Jan Hatzius, chief economist at Goldman Sachs, told CNBC t

Russia’s government resigned Wednesday to make way for major new constitutional changes, according to the Tass state news agency, citing Prime Minister Dmitry Medvedev. Without giving much detail, the news agency said President Vladimir Putin thanked Medvedev’s government for its work. The move was reportedly made so Putin can carry out sweeping constitutional changes he spoke about at his annual address just hours earlier. The Russian leader proposed a national vote on constitutional changes th

In this arranged photo, a UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019. UnitedHealth reported a better-than-expected quarterly profit on Wednesday, as the largest U.S. health insurer benefited from higher revenue from its Optum unit, which includes its pharmacy benefits management business. The company affirmed its full-year outlook for 2020 adjusted earnings of $16.25 to $16.55 per share. Revenue from Optum, which manages drug benefi