Since his presidential campaign, President Trump has harped on cutting the national deficit and increasing infrastructure spending to improve the country’s roadways and systems. That all relies on steel. And the steel industry as a whole has struggled mightily. After the election, the steel sector rose by 40 percent. But that didn’t last. One big culprit? China. Now, Trump is again taking a look at protecting the struggling steel industry against shady trade practices by U.S. international trade partners; specifically China. Trump announced that he’s stopping illegal steel dumping by China through tariffs and quotas. Can the plan succeed? Or will trump end up pricing out U.S. exports?
Read The Capitalist’s Take Here
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HEALTHCARE BILL REINTRODUCED; STILL LACKS VOTES TO PASS
Senate Majority Leader Mitch McConnell (R-Ky.) released a new rewrite of the Affordable Care Act Thursday after spending three weeks reworking it to win over wavering lawmakers on the right and in the center.
But within hours, it was clear that Senate leaders still didn’t have the votes to fulfill their long-standing quest to overhaul former president Barack Obama’s 2010 health-care law.
The new draft would lift many of the ACA’s tight regulatory requirements, allowing insurers to offer bare-bones policies without coverage for such services as preventive or mental-health care. It would also direct billions of dollars to help lower- and middle-income Americans afford health coverage.
Read More at Washington Post Here
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PLANNED MERGER BETWEEN DRAFTKINGS AND FANDUEL CALLED OFF FOLLOWING ANTITRUST CHALLENGE
Daily fantasy sports companies DraftKings and FanDuel have canceled their plans to merge, the companies announced Thursday.
Talk of a merger began in the summer of 2016 and the two companies—the two largest in the DFS industry—first announced their plans to merge in November. The Federal Trade Commission filed a legal challenge to the merger last month, alleging that it would violate antitrust law. The merger would create a DFS monopoly, the FTC argued, by having the same company control in excess of 90% of action in the industry. The companies called off the merger just days after filing briefs in response to the complaint. .
Read More at Sports Illustrated Here
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Read More at Recode Here
– Thursday, July 13th
Markets Finish UP After Retail Sees Best Day of Year
Big Insider Trades
– HP Inc. (HPQ) Director Margaret Whitman Sells $2.7m
– Liberty Global plc (LBTYA) Director John Malone Buys $2.6m