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The Dow tumbled more than 950 points at one point on Monday and global stocks were in disarray after China escalated the trade war with the United States.The Dow finished down 767 points for the day. The Chinese government devalued the yuan to fall below its 7-to-1 ratio with the US dollar for the first time in a decade Monday. A weaker currency could soften the blow the United States has dealt China with its tariffs.The weak yuan ignited fear on Wall Street that a currency war has begun or that the United States would respond with even higher tariffs, prolonging the standoff with China and potentially weakening the global economy. Investors are particularly concerned that the Trump administration could try to devalue the dollar, sparking a currency war that could weaken Americans' purchasing power."Risks of Trump intervening in foreign exchange markets have increased with China letting the yuan go," wrote Viraj Patel, FX and global macro strategist at Arkera, 987

The Defense Department has decided not to proceed with three border wall projects in California and Arizona, citing "insufficient contract savings," according to a court filing.The move appears to be a setback for President Donald Trump, who has sparked controversy for dipping into Pentagon funds to build his signature border wall, though it's unclear what will happen to the projects listed in the filing.Last month, Secretary of Defense Mark Esper approved an additional 20 miles of 30-foot-high barriers for the southern border using .5 billion in funds redirected from a counter drug account, which is authorized to spend money on border barrier construction for the purpose of blocking "drug-smuggling corridors."Although then-acting Defense Secretary Patrick Shanahan had earlier approved some 135 miles of fencing requested by the Department of Homeland Security in the Yuma, El Paso and Tucson sectors, the cost of constructing that section of the border wall was less than originally anticipated, freeing up funds to support the additional 20 miles approved by Esper.The Pentagon notified the court of the additional miles at the time, noting the Army Corps wouldn't know the exact amount of savings to move forward with the projects until later in the fiscal year.Monday's court filing, however, reveals that there were not enough funds to cover the costs of the projects."Based on its work in definitizing the contracts for the original Section 284 projects, [the Army Corps] has determined that there are insufficient contract savings to undertake the three additional Section 284 projects authorized by the Secretary of Defense on August 26, 2019," the filing reads. "Therefore, the Department of Defense has decided not to pursue Yuma Sector Projects 4 and 5, and Tucson Sector Project 4 at this time."The President's decision to tap into Pentagon funds for his wall has been legally challenged by the Democratic-controlled House and advocacy groups.In July, the Supreme Court cleared the way for the Trump administration to use .5 billion from the Defense Department to construct parts of a wall along the southwestern border that the government argues is necessary to protect national security.The decision allows the Defense Department money to be spent now while a court battle plays out over whether the government had the authority to divert funds that were not appropriated for the wall.The administration is using funds appropriated for the wall, as well as Defense Department funds, to fulfill the President's pledge to erect new barriers along the southern border. As of August 23, the administration has updated roughly 60 miles of wall on the US-Mexico border, according to Customs and Border Protection and the Army Corps. Construction activities to mount new wall in the Rio Grande Valley sector is underway, according to the agencies. 2881

The 73rd Annual Tony Awards were presented Sunday to celebrate Broadway's best performances of the year.James Corden served as host of the event for the second time and kicked off the show with a nine minute opening number in which he poked fun at live TV versus streaming services.When it came to the coveted Best Play and Best Musical categories the winners were "The Ferryman" by Jez Butterworth and "Hadestown" respectively.It was a big night for "Hadestown," starring Reeve Carney, Amber Gray and André De Shields, who lead the way with 14 nominations and scored 8 wins.Tony's history was made by Ali Stroker as the first actor in a wheelchair to ever win a Tony Award. She took home the award for featured actress in a musical for her role in "Oklahoma!"But it didn't stop there, it was an entire night of firsts.Rachel Chavkin won the Tony for best director of a musical for "Hadestown" as the only female nominated in that category this year and Elaine May won her first ever Tony Award for best leading actress for her role in "The Waverly Gallery."Andre DeShields won his first ever Tony Award in the featured actor in a musical category for his role in "Hadestown." Santino Fontana was awarded Best performance by an actor in a leading role in a musical for "Tootsie" and Stephanie J. Block won her first Tony for Best performance by an actress in a leading role in a musical for "The Cher Show."When the Tony nominations were announced in April, some Broadway observers were surprised that both "To Kill Mockingbird" and "Network" were not nominated in the best play category.CNN caught up with Corden earlier in the week to discuss his hosting duties, and he revealed that, believe it or not, he gets incredibly nervous."I get nerves to an almost crippling degree," he said. "I actually went to see someone about it at one point because it was getting to a point where I was so nervous, it was unmanageable.See below for a full list of winners.Best play"Choir Boy" by Tarell Alvin McCraney"The Ferryman" by Jez Butterworth *WINNER"Gary: A Sequel to Titus Andronicus" by Taylor Mac"Ink" by James Graham"What the Constitution Means to Me" by Heidi SchreckBest revival of a musical"Kiss Me, Kate"Rodgers and Hammerstein's "Oklahoma!" *WINNERBest musical"Ain't Too Proud to Beg""Beetlejuice""Hadestown" *WINNER "The Prom""Tootsie"Best revival of a playArthur Miller's "All My Sons""The Boys in the Band" by Mart Crowley *WINNER"Burn This" by Lanford Wilson"Torch Song" by Harvey Fierstein"The Waverly Gallery" by Kenneth LonerganBest performance by an actor in a leading role in a musicalBrooks Ashmanskas, "The Prom"Derrick Baskin, "Ain't Too Proud"Alex Brightman, "Beetlejuice"Damon Daunno, "Oklahoma!"Santino Fontana, "Tootsie" *WINNERBest performance by an actress in a leading role in a musicalStephanie J. Block, "The Cher Show" *WINNERCaitlin Kinnunen, "The Prom"Beth Leavel, "The Prom"Eva Noblezada, "Hadestown"Kelli O'Hara, "Kiss Me, Kate"Best performance by an actor in a leading role in a playPaddy Considine, "The Ferryman"Bryan Cranston, "Network" *WINNERJeff Daniels, "To Kill a Mockingbird"Adam Driver, "Burn This"Jeremy Pope, "Choir Boy"Best performance by an actress in a leading role in a playAnnette Bening, "All My Sons"Laura Donnelly, "The Ferryman"Elaine May, "The Waverly Gallery" *WINNERJanet McTeer, "Bernhardt/Hamlet"Laurie Metcalf, "Hillary and Clinton"Heidi Schreck, "What the Constitution Means to Me"Best book of a musical"Ain't Too Proud," Dominique Morisseau"Beetlejuice," Scott Brown and Anthony King"Hadestown," Ana?s Mitchell"The Prom," Bob Martin and Chad Beguelin"Tootsie," Robert Horn *WINNERBest original score (music and/or lyrics) written for the theater"Be More Chill," Joe Iconis"Beetlejuice," Eddie Perfect"Hadestown," Ana?s Mitchell *WINNER"The Prom," Matthew Sklar and Chad Beguelin"To Kill a Mockingbird," Adam Guettel"Tootsie," David YazbekBest direction of a musicalRachel Chavkin, "Hadestown" *WINNERScott Ellis, "Tootsie"Daniel Fish, "Oklahoma!"Des McAnuff, "Ain't Too Proud"Casey Nicholaw, "The Prom"Best direction of a playRupert Goold, "Ink"Sam Mendes, "The Ferryman" *WINNERBartlett Sher, "To Kill a Mockingbird"Ivo van Hove, "Network"George C. Wolfe, "Gary: A Sequel to Titus Andronicus"Best performance by an actor in a featured role in a musicalAndré De Shields, "Hadestown" *WINNERAndy Grotelueschen, "Tootsie"Patrick Page, "Hadestown"Jeremy Pope, "Ain't Too Proud"Ephraim Sykes, "Ain't Too Proud"Best performance by an actress in a featured role in a musicalLilli Cooper, "Tootsie"Amber Gray, "Hadestown"Sarah Stiles, "Tootsie"Ali Stroker, "Oklahoma!" *WINNERMary Testa, "Oklahoma!"Best performance by an actor in a featured role in a playBertie Carvel, "Ink" *WINNERRobin De Jesús, "The Boys in the Band"Gideon Glick, "To Kill a Mockingbird"Brandon Uranowitz, "Burn This"Benjamin Walker, "All My Sons"Best performance by an actress in a featured role in a playFionnula Flanagan, "The Ferryman"Celia Keenan-Bolger, "To Kill a Mockingbird" *WINNERKristine Nielsen, "Gary: A Sequel to Titus Andronicus"Julie White, "Gary: A Sequel to Titus Andronicus"Ruth Wilson, "King Lear"Best choreographyCamille A. Brown, "Choir Boy"Warren Carlyle, "Kiss Me, Kate"Denis Jones, "Tootsie"David Neumann, "Hadestown"Sergio Trujillo, "Ain't Too Proud" *WINNERBest orchestrationsMichael Chorney and Todd Sickafoose, "Hadestown" *WINNERLarry Hochman, "Kiss Me, Kate"Daniel Kluger, "Oklahoma!"Simon Hale, "Tootsie"Harold Wheeler, "Ain't Too Proud"Best scenic design of a musicalRobert Brill and Peter Nigrini, 'Ain't Too Proud"Peter England, "King Kong"Rachel Hauck, "Hadestown" *WINNERLaura Jellinek, "Oklahoma!"David Korins, "Beetlejuice"Best scenic design of a playMiriam Buether, "To Kill a Mockingbird"Bunny Christie, "Ink"Rob Howell, "The Ferryman" *WINNERSanto Loquasto, "Gary: A Sequel to Titus Andronicus"Jan Versweyveld, "Network"Best costume design of a musicalMichael Krass, "Hadestown"William Ivey Long, "Beetlejuice"William Ivey Long, "Tootsie"Bob Mackie, "The Cher Show" *WINNERPaul Tazewell, "Ain't Too Proud"Best costume design of a playRob Howell, "The Ferryman" *WINNERToni-Leslie James, "Bernhardt/Hamlet"Clint Ramos, "Torch Song"Ann Roth, "Gary: A Sequel to Titus Andronicus"Ann Roth, "To Kill a Mockingbird"Best sound design of a musicalPeter Hylenski, "Beetlejuice"Peter Hylenski, "King Kong"Steve Canyon Kennedy, "Ain't Too Proud"Drew Levy, "Oklahoma!"Nevin Steinberg and Jessica Paz, "Hadestown" *WINNERBest sound design of a playAdam Cork, "Ink"Scott Lehrer, "To Kill a Mockingbird"Fitz Patton, "Choir Boy" *WINNERNick Powell, "The Ferryman"Eric Sleichim, "Network"Best lighting design of a musicalKevin Adams, "The Cher Show"Howell Binkley, "Ain't Too Proud"Bradley King, "Hadestown" *WINNERPeter Mumford, "King Kong"Kenneth Posner and Peter Nigrini, "Beetlejuice"Best lighting design of a playNeil Austin, "Ink" *WINNERJules Fisher and Peggy Eisenhauer, "Gary: A Sequel to Titus Andronicus"Peter Mumford, "The Ferryman"Jennifer Tipton, "To Kill a Mockingbird"Jan Versweyveld and Tal Yarden, "Network" 7087

The mad scramble between Thanksgiving and Christmas just got six days shorter.Black Friday once again kicks off the start of the holiday shopping season. But with six fewer days than last year, it will be the shortest season since 2013 because Thanksgiving fell on the fourth Thursday in November — the latest possible date it could be. That means customers will have less time to shop and retailers will have less time to woo them.Adobe Analytics predicts a loss of billion in online revenue from a shortened season. Still, it expects online sales will reach 3.7 billion, up 14.1% from last year’s holiday seasonThe National Retail Federation, the nation’s largest retail trade group, baked the shorter season into its forecast, but it says the real drivers will be the job market. It forecasts that holiday sales will rise between 3.8% and 4.2%, an increase from the disappointing 2.1% growth seen in the November and December 2018 period that came well short of the group’s prediction.Last year’s holiday sales were hurt by turmoil over the White House trade policy with China and a delay in data collection by nearly a month because of a government shutdown. This year’s holiday forecast is above the average holiday sales growth of 3.7% over the previous five years.NRF expects online and other non-store sales, which are included in the total, to increase between 11% and 14%, for the holiday period.Black Friday is expected to once again be the largest shopping day of the season, followed by the last Saturday before Christmas, according to MasterCard SpendingPulse, which tracks spending across all types of payments including cash and check. Thanksgiving Day isn’t even on the top 10 holiday shopping days, according to MasterCard.The 2019 holiday season will be a good measure of the U.S. economy’s health. Many retail CEOs describe their customers has financially healthy, citing moderate wage growth and an unemployment rate hovering near a 50-year low.“The overall picture is positive,” said Craig Johnson, president of Customer Growth Partners, a retail consultancy. “People are spending out of positive cash flow as opposed to borrowing.”Economic growth has moderated since earlier this year, with growth at just 1.9% in the July-September quarter, down from 3.1% in the first three months of the year. Analysts blame at least part of that on the U.S.-China trade war, which has forced many companies to delay plans to invest and expand.That’s left consumers as the main drivers. So far, Americans have kept up their spending, allaying fears of a recession.With more holiday deals happening earlier to compensate for the late start, many have already started to shop. More than half of consumers have already started their holiday shopping and nearly a quarter of purchases have already been made, according to the annual survey released by the NRF and Prosper Insights & Analytics. The survey of 7,917 adult consumers was conducted Oct. 31 through Nov. 6.“This is further evidence that the holiday season has grown far beyond the period between Thanksgiving and Christmas,” said Matthew Shay, president and CEO of NRF, in a statement. 3173

The FBI charged a former Google executive and one of the leading engineers in the self-driving car industry Tuesday with stealing trade secrets when he left the company to join Uber.Anthony Levandowski was charged with 33 counts of trying to steal proprietary information from Google.Levandowski first joined Google in 2007. By 2015, he was a high-ranking executive working on self-driving cars for the company.According to US attorney David L. Anderson, an indictment alleges that beginning in September 2015, Levandowski began moving company files from his work computer to his personal computer.In January 2016, Levandowski announced he was leaving Google to start his own self-driving cat company, Otto. That company was later acquired by Uber.In 2018, Levandowski settled a lawsuit with Waymo, Google's self-driving car division, that alleged he stole trade secrets from the company before he left.More on this as it develops. 943