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Under a Republican sweep, or even with a divided government led by Donald Trump, economic output would take a hit next year, mostly from increased tariffs on imports and tighter immigration policies, Goldman said in a note late on Tuesday. Job growth under a Democrat government would also likely be stronger than under the Republicans, Goldman said.

Australia's economy stayed stuck in the slow lane in the June quarter as stiff borrowing costs and stubborn inflation squeezed consumers, leaving government spending as the main driver of growth. Data from the Australian Bureau of Statistics on Wednesday also revealed that domestic price pressures were still running high, underscoring the central bank's reluctance to cut rates anytime soon even though markets are wagering on a December policy easing.

Donald Trump is betting that Americans crave trillions of dollars in tax cuts — and that growth will be so fantastic that it's not worth worrying about budget deficits. In short, he's hoping that most economic analyses of his ideas are dead wrong. Vice President Kamala Harris believes that big corporations and the ultra-wealthy should pay more in taxes — and wants to use those revenues to help spur the construction of 3 million homes and offer tax breaks for parents.

(Bloomberg) -- Australia’s economic weakness persisted in the three months through June as consumers hunkered down in the face of elevated borrowing costs and stubbornly sticky inflation.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatGross domestic product advanced 0.2% from the prior quarter, helped by government spending and matching economists’ estimate, official data showed Wednesday. From a year earlier, gro

A soft macroeconomic environment has resulted in lighter shipments for ArcBest and a delay in the company’s freight swap. The post Economic headwinds, light shipments weigh on ArcBest in August appeared first on FreightWaves.

The drop in the benchmark retail diesel price is a lot smaller than what is going on in futures markets. The post Benchmark diesel price drops a little; oil futures markets drop a lot appeared first on FreightWaves.

(Bloomberg) -- Brazil’s state-controlled oil producer Petroleo Brasileiro SA tapped global bond markets to borrow $1 billion, joining a wave of sales by other emerging-market companies and governments.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatPetrobras sold dollar-denominated notes due in 2035, according to people familiar with the matter, who asked not to be identified because they’re not authorized to spea