Trump attorney says Stormy Daniels violated agreement, could owe up to $20 million President Donald Trump’s personal lawyer said former adult-film actress Stephanie Clifford could be liable for damages of at least $20 million for breaching a nondisclosure agreement that barred her from discussing an alleged extramarital affair with Trump.
The allegation came in a filing Friday in federal court in Los Angeles that accused Clifford of at least 20 violations of a 2016 contract reached between Clifford, known professionally as Stormy Daniels, and Michael Cohen, Trump’s personal attorney.
Cohen paid Clifford $130,000 weeks before the 2016 presidential election in return for keeping silent about the alleged affair between her and Trump in 2006.
The contract was signed between Cohen and Clifford in October 2016 and used pseudonyms to mask the identities of those involved. It states that she would be obligated to pay Trump directly—not Essential Consultants LLC, the limited liability compan..Read More →

Opinion: Why the dollar has been defying expectations by weakening BERKELEY, Calif. (Project Syndicate) — Donald Trump’s first year as president has been, if nothing else, a bounteous source of surprises.
One of the big ones in the circles I frequent is dollar weakness. Between January 2017 and January 2018, the broad effective exchange rate DXY, +0.07% BUXX, +0.13% of the dollar fell by 8%, wrong-footing many of the pundits. I include myself among the wrong-footed (others can decide whether I qualify as a pundit).
Tax cuts and interest-rate normalization, I expected, would shift the mix toward looser fiscal and tighter monetary policies, the combination that drove up the dollar in the Reagan-Volcker years. Tax changes encouraging U.S. corporations to repatriate their profits would unleash a wave of capital inflows, pushing up the dollar still further.
Economic commentators are better at rationalizing past exchange-rate movements than at forecasting future trends. So, when it comes..Read More →

Yen maintained solid strength throughout last week as it ended as the strongest one. Meanwhile, the fortunes of commodity currencies suddenly reversed towards the end. Canadian, Australian and New Zealand Dollar ended as the three weakest ones. Some blamed the selloff in commodity currencies to Dollar’s strength. But the greenback just ended marginally higher against […]
The post CAD, AUD, NZD All Suffered as Trump Stepping on Protectionist Acceleration Pedal appeared first on Action Forex.Read More →

This surging stock looks like a promising bet on electric cars — and it’s not Tesla As Yogi Berra might have put it: Nobody buys Tesla stock anymore. It’s too popular.
Yet the hunt continues for promising bets on rising ­demand for electric vehicles, and battery-materials company Umicore UMI, -1.59% could fit the bill.
“There are very few EV champions—companies that have a meaningful percentage of their profits today coming from the electrification megatrend,” says Adam Collins, an analyst at investment firm Liberum covering specialty chemicals and new energy technologies. “We, in our notes, have been talking about possibly four: Albemarle, the lithium leader; Tesla, I don’t have to introduce them; Infineon Technologies, in the power semiconductors space; and Umicore, in cathode materials.”
What makes Umicore special, Collins reckons, is that it generates about 10% of its earnings from EV-related business, while the corresponding figures for U.S. chemicals giant Albe­marle ALB, +0.3..Read More →

‘BBC Dad’ reflects on his viral video, paternity leave and protecting his children One year ago, a 4-year-old girl and her baby brother in a walker-stroller barged in on their father while he was being interviewed live on the BBC about the impeachment of South Korean president Park Geun-hye.
The hilarious collision between work and family life stole the hearts of millions around the world. At that time, it wasn’t quite as adorable to Robert Kelly, now known simply as “BBC Dad.”
‘The kids are really small and we don’t want to overexpose them where weirdos come and photograph them. You have to protect them.’ Robert Kelly The political science professor at Pusan National University in Busan, South Korea maintained his composure on air, but thought he’d never be asked for an interview again after that. Instead, the clip of his children, chased and dragged out of the room by their mother, went viral, and he’s been recognized everywhere from the local supermarket to international airports…Read More →

FBI Deputy Director McCabe fired two days before retirement date Attorney General Jeff Sessions fired former Deputy FBI Director Andrew McCabe on Friday, alleging he made unauthorized disclosures to the media and “lacked candor” in speaking to an internal watchdog.
The move comes two days before McCabe’s expected retirement on Sunday. He was removed from his deputy post in January.
Sessions said he terminated McCabe’s employment “effective immediately,” and said he came to that determination after an “extensive and fair investigation.” Both the inspector general and the FBI’s Office of Professional Responsibility concluded that McCabe made “an unauthorized disclosure” and “lacked candor” when he spoke under oath on “multiple occasions,” Sessions said.
In a lengthy statement, McCabe strongly disputed the allegations, saying he had the authority to share the information with a reporter, and that he “answered questions truthfully and as accurately” as he could “amidst the chaos that s..Read More →

Warren Buffett makes less than twice the typical Berkshire employee Berkshire Hathaway Inc. Chief Executive Warren Buffett makes less than twice the company’s typical employee, the conglomerate said in a filing Friday.
Buffett has earned a $100,000 salary for decades, and receives no bonus or other compensation. Berkshire said its median employee received $53,510 in 2017, or a ratio of 1.87 to 1.
Berkshire’s second in command, Vice Chairman Charles T. Munger, has also received a $100,000 salary and no other compensation for years.
Earlier on Friday, Boeing Co. BA, +0.15% reported its CEO made more than $18 million in compensation last year, resulting in a CEO-pay ratio of 166 to 1, and PepsiCo Inc. PEP, -0.31% said its CEO made more than $31 million, or a ratio of 650 to 1.
Companies are reporting their CEO pay in relation to the compensation of a median worker for the first time this year as a result of a 2015 rule mandated by the Dodd-Frank act.
Read also: General Electric ..Read More →

Now it’s time for the stock market to refocus on the Fed For stock market investors, the coming week is likely to see the Federal Reserve move back into focus, stealing the spotlight back, at least briefly, from worries about tariffs and political turmoil.
The Fed’s two-day policy meeting, which will conclude Wednesday and is widely expected to deliver the first rate increase of 2018, will be Fed Chairman Jerome Powell’s first as chairman of the central bank, and investors will be eager to find out just how much he deviates from the legacy of Janet Yellen, whom he succeeded in early February.
While market participants have fully priced in a quarter-percentage point rate increase on Wednesday, investors will parse the wording of the accompanying statement and Powell’s subsequent news conference.
“We want to see if he will do anything out of ordinary. But generally, neither Powell, nor any other Fed chair would want to rock the boat,” said Diane Jaffee, senior portfolio manager at TCW..Read More →

If you’re over 40 and work, you’re in for some big surprises MARKETWATCH FRONT PAGE Higher taxes and millions of displaced workers are predicted in the next decade. But there’s an upside. See full story.
The president of the Academy overseeing Oscars is under investigation for sexual harassment Three claims of sexual misconduct have been made against Academy of Motion Picture Arts and Sciences President John Bailey See full story.
This political-risk gauge just hit a 15-year high — and here’s what it means for the stock market Add heightened political risk to the growing number of factors that have been contributing to volatility on Wall Street. See full story.
These companies jumped on the bitcoin train right before it derailed It seemed like an unbeatable path to market gains: simply suggest your company was getting involved in cryptocurrencies, and investors would reward you to a startling extent. See full story.
Is the fiduciary rule dead or alive? What its fate means to you Th..Read More →

The future of higher education could be less humanities classes, and how to avoid rising flight fees Friday’s top personal finance stories Happy Friday, MarketWatchers! We made it through another week. Check out today’s top personal finance stories before heading out to the weekend.
The depressing reason women out-earn men in these 7 places in the U.S. Men are paid more than women in nearly all of these 2,700 counties, with just a handful of exceptions.

This public college wants to cut English, history — and 11 other liberal arts majors Could this be the future of higher education?

One side effect of being young, female and sick: People won’t believe you The author of a new book about being young, female and sick would know: She had thyroid cancer, two hip surgeries, a severe allergic reaction that almost killed her and Lyme disease, all in her 20s.

What time is the $455 million Powerball drawing — and the $345 million one for Mega Millions? Both lotteries last had jackpot wi..Read More →