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Trade Wars Are Bad and Hard to Win, U.K. Tells Trump

The U.K. has “deep concern” about the U.S. plan to slap tariffs on steel and aluminum imports, and negotiated accords are better, Prime Minister Theresa May told President Donald Trump. The two leaders spoke Sunday by telephone, with May saying “multilateral action was the only way to resolve the problem of global overcapacity in all parties’ interests,” according to a spokesman for the prime minister. Trump’s vow that trade wars are good and are easy to win also drew a rebuke from one of May’s most senior ministers, who said…

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Bloombergs New Global Politics Weekend Reads

Dear reader, Welcome to our new Weekend Reads newsletter. Each Saturday, we'll send you some of our best stories that you might have missed, and some new ones, too. We hope you enjoy it. – Balance of Power team Click here for our weekly slideshow, featuring images from across Europe during some of the coldest weather in a decade. The freeze has roiled energy markets — forcing utilities to scramble for natural gas to heat millions of homes — and disrupted travel. delve into the geopolitical implications of China’s embrace of lifetime job security for its top…

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Scaramucci Is on White House Exclusion List Blocking Visits

Anthony Scaramucci, President Donald Trump’s former communications director, is on a list of people blocked from entering the White House without special approval. A day after saying he wasn’t blocked, a White House official confirmed that Scaramucci is indeed among fired officials excluded from the campus. The acknowledgment came after the financier provided to Bloomberg News official White House correspondence that confirmed he was denied an appointment. Scaramucci is among a group of former staffers who left “under adverse circumstances” placed on an "administrative exclusion list," the White House said in…

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Scaramucci Says He Fears John Kelly Will Thwart SkyBridge Sale

Former Read more: Hicks’s exit widens Trump staff tumult Scaramucci’s fury with Trump’s chief of staff has been well-known since his dismissal on Kelly’s first day managing the White House. Scaramucci lost the job less than two weeks after he had been hired, largely over a tirade against then-chief strategist Steve Bannon. Now Scaramucci is at it again, but this time the target is Kelly — making him one of Kelly’s most high-profile critics at a time when some other Trump loyalists are questioning whether the president is being ill-served…

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Gates Guilty Plea Strengthens Muellers Hand Against Manafort

As the newest cooperator for Special Counsel Robert Mueller, Rick Gates gives prosecutors a powerful weapon in pursuing former Trump campaign chairman Paul Manafort and possible election collusion with Russia. Gates, who pleaded guilty Friday in Washington, was Manafort’s right-hand man and worked with him for a decade in his political consulting firm lobbying on behalf of Ukraine before joining him on Donald Trump’s presidential campaign in 2016. Gates also remained on the Trump campaign after Manafort resigned in August 2016, and he helped plan Trump’s inauguration. In a victory…

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Days After Parkland, Its Business as Usual at a Florida Gun Show

It’s another week after another mass shooting in the U.S., and something finally feels different. In the days following the Feb. 14 school shooting in Parkland, Florida, that killed 17 students and faculty members, a vociferous movement of young people has risen up to say enough is enough. The generation that grew up in the wake of the 1999 carnage in Columbine is demanding new gun restrictions. The teenagers are adding a fresh voice to a gun control debate that has plodded, despite a number of high-profile massacres in the…

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Mueller Deflates Trump’s Claim That Russia Meddling Was Hoax

Donald Trump has insisted for more than a year that Russians didn’t try to get him elected. Special Counsel Robert Mueller put an end to those claims on Friday, declaring definitively that they did. A federal grand jury indicted 13 Russian nationals and a so-called “troll farm” in St. Petersburg on Friday for a broad campaign to sway the 2016 election in Trump’s favor. The indictment alleges that the operation was funded to the tune of $1.25 million a month by companies controlled by a Russian businessman close to the…

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Bond-Stock Clash Has Just Begun as Inflation Looms

The tug-of-war between stocks and bonds is at the heart of the shakeout roiling financial markets. This week’s U.S. inflation report could hold the key to the next phase. Seemingly every time 10-year Treasury yields approached a four-year high last week, equities investors panicked, fearing the specter of higher inflation and a more aggressive pace of Federal Reserve rate hikes. Whether you want to say Treasuries are in a bear market or not, the surge in yields to start 2018 has left investors reassessing the value of equities and corporate bonds.…

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Musk Sends a Tesla Into Space Atop World’s Most Powerful Rocket

An elated Elon Musk pulled off another seemingly impossible feat Tuesday when SpaceX launched the world’s most powerful rocket in 45 years, then flew two of its spent boosters back to the Florida coast for a spectacular, simultaneous recovery on land. With hordes of fans gathered along the Florida space coast, the new rocket rumbled aloft under clear skies shortly after 3:45 p.m. local time. The live-stream of the Falcon Heavy Test Flight was the second-most-watched in YouTube’s history, reaching more than 2.3 million concurrent views, and the launch led…

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U.S. Adds 200,000 Jobs; Wages Rise by Most Since Recession

U.S. hiring picked up in January and wages rose at the fastest annual pace since the recession ended, as the economy’s steady move toward full employment extended into 2018. Nonfarm payrolls rose 200,000 — compared with the median estimate of economists for a 180,000 increase — after an upwardly revised 160,000 advance, Labor Department figures showed Friday. The jobless rate held at 4.1 percent, matching the lowest since 2000, while average hourly earnings rose a more-than-expected 2.9 percent from a year earlier, the most since June 2009. Treasury yields and…

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Trump’s Solar Tariffs Mark Biggest Blow to Renewables Yet

President Donald Trump just dealt his biggest blow to the renewable energy industry yet. On Monday, Trump approved duties of as much as 30 percent on solar equipment made abroad, a move that threatens to handicap a $28 billion industry that relies on parts made abroad for 80 percent of its supply. Just the mere threat of tariffs has shaken solar developers in recent months, with some stalling projects in anticipation of higher costs. The Solar Energy Industries Association has projected 23,000 job losses this year in a sector that employed…

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IMF Says Global Growth Picking Up as U.S. Tax Cuts Take Hold

The International Monetary Fund warned policymakers to be on guard for the next recession even as it predicted global growth will accelerate to the fastest pace in seven years as U.S. tax cuts spur businesses to invest. The fund raised its forecast for world expansion to 3.9 percent this year and next, up 0.2 percentage point both years from its projection in October. That would be the fastest rate since 2011, when the world was bouncing back from the financial crisis. The strengthening recovery offers a “perfect opportunity now for…

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Trumps Lawyer Brokered $130,000 Payment to Adult Film Star, WSJ Reports

Washington (AP) — President Donald Trump's personal lawyer brokered a $130,000 payment to a porn actress to prevent her from publicly discussing an alleged sexual encounter with Trump, according to a report Friday in The Wall Street Journal. Trump met Stephanie Clifford, whose goes by the name Stormy Daniels in films, at a golf event in 2006 — a year after Trump's marriage to his wife, Melania. According to the Journal's report, Clifford began talking with ABC News in the fall of 2016 for a story involving an alleged relationship…

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Senator Calls Trumps Denial of Shithole Comment Not True

A key Democratic senator who was at the Oval Office meeting on immigration said President Donald Trump’s denial that he called Haiti and African nations “shithole countries” is “not true” and that Trump made the “vile and racist” comments. “He said things which were hate-filled, vile and racist,” Senator Dick Durbin, of Illinois, who was at the meeting, told reporters Friday morning. “I cannot believe that in the history of the White House, in that oval office, any president has ever spoken the words that I personally heard our president…

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Trump Says Bannon Lost His Mind After Leaving White House

President Donald Trump denounced his former top strategist, Steve Bannon, on Wednesday in a dramatic break from the man considered an architect of Trump’s populist campaign. “When he was fired, he not only lost his job, he lost his mind,” Trump said in a statement issued after the publication of excerpts of a new book in which Bannon criticizes the president and his family. “Now that he is on his own, Steve is learning that winning isn’t as easy as I make it look.” Bannon has lost the access to…

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