Business Briefs – July 30, 2018

Trump Officials Predict Sustained Growth in the Economy

WASHINGTON (AP) – The president’s top economic advisers are forecasting an economy that will continue to grow, an assessment that few economists outside the administration agree with. Treasury Secretary Steven Mnuchin predicts the economy will enjoy four or five years of sustained 3 percent growth “at least.” And White House economic adviser Larry Kudlow says President Donald Trump deserves a victory lap after an energetic 4.1 percent annual growth rate in the April-June quarter.

Accusations Fly as Firms Seek To Avoid Trump’s Steel Tariff

WASHINGTON (AP) — U.S. companies seeking to be exempted from President Donald Trump’s tariff on imported steel are accusing American steel manufacturers of spreading inaccurate and misleading information, and they fear it may torpedo their requests. The resentment is evidence of the backlash over how the Commerce Department is evaluating their requests to avoid the duty on steel imports.

Treasury Projects Q3 Borrowing To Surge to $329 Billion

WASHINGTON (AP) — The Treasury Department says the federal government plans to borrow $329 billion in the current July-September quarter. That’s highest third-quarter figure in eight years, as the government faces rising borrowing needs due to higher budget deficits. Treasury says that the projected borrowing is 74 percent higher than the $189 billion borrowed in the same quarter a year ago and would mark the largest July-September amount since 2010.

Georgia Jet Fuel Tax Halted, Months After Delta, NRA Fight

ATLANTA (AP) — Georgia’s governor has made good on his vow to restore a jet fuel tax cut that had been controversially killed by state GOP lawmakers irate over Delta Air Lines’ decision to cut ties with the National Rifle Association. In a statement Monday, Republican Gov. Nathan Deal ordered the collection of the state’s 4 percent sales tax on jet fuel to be suspended.

Ryanair’s Strike Woes Worsen as German Pilots Vote for Walkouts

(Bloomberg) – Ryanair Holdings’s labor crisis deepened on Monday as pilots in Germany voted to strike in a dispute over pay and conditions.

Crew members could walk out at 24 hours’ notice after more than 96 percent of respondents backed industrial action in a poll, the Vereinigung Cockpit union said in a statement. It set an Aug. 6 deadline for the discount carrier to avoid disruption by submitting terms that could form a basis for negotiations.