Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly," Trump said without specifying which nations he was referring to. The BRICS group currently includes Brazil, Russia, India, China, South Africa, and has recently expanded to include other nations. In addition to...
The number of Americans filing for unemployment benefits rose to 223,000 in the week ending Jan. 19, 2025. That was up from the estimate of 221,000 and the previous weekly estimate of 217,000, the Labor Department said Thursday. Source: @Newsmaker23
Economic activity in Argentina likely fell again in November versus the same month a year earlier, but less than the 0.7% contraction in October, a Reuters poll of market analysts on Wednesday showed. The median forecast from 13 analysts sees economic activity shrinking 0.6% year-on-year in November, the sixth consecutive year-on-year contraction, if confirmed by officials. Poll estimates ranged from a 3.2% contraction to 1.6% growth. The slight improvement was driven by the key agricultural sector, analysts said, while construction continued to fare poorly. Despite the anticipated...
President Donald Trump said his team is discussing 10% tariffs on China and that the duties could go into effect as early as Feb. 1. "We're talking about a 10% tariff on China based on the fact that they're sending fentanyl to Mexico and Canada," the president said, speaking to reporters at the White House on Tuesday evening. "Maybe February 1st is the date we're looking at," he added. Fentanyl, a synthetic opioid, is an addictive drug that has caused tens of thousands of overdose deaths each year in the U.S. Reducing the supply of the illicit drug, whose precursors are largely produced...
European wind shares fell on Tuesday after U.S. President Donald Trump axed support for new offshore wind power on his first day in office, adding to pain in an industry that had turned to the United States to help revive its fortunes. The biggest decliner, Denmark's Orsted (CSE:ORSTED), which plunged 17%, came under further strain from impairments on its U.S. ventures. The global offshore wind industry, which initially boomed, has been struggling to deliver the carbon reductions pursued by many governments as escalating costs, supply chain issues and planning issues have slowed...
European Union finance ministers will approve French Prime Minister Francois Bayrou's deficit-cutting plan on Tuesday as it complies with the EU's recommendations to bring the French deficit below 3% of GDP by 2029, officials said. Senior officials of EU governments agreed last week to support Bayrou's plan, which will replace a more front-loaded scheme designed by his predecessor Michel Barnier that was rejected by the French Parliament in December. "We are determined to reach the 3% deficit target by 2029, to be below by 2029," French Finance Minister Eric Lombard told reporters as he...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...