Less than four months ago, President Donald Trump met with Qatar's leader, praised his magnificent palace, and signed a comprehensive defense agreement with the Gulf monarchy, a key ally that hosts the largest US base in the Middle East. Israel's surprise attack on Hamas leaders in Doha on Tuesday has shaken the relationship, angered Trump, and drawn strong condemnation from Doha and its Western allies. Ordered by Israeli Prime Minister Benjamin Netanyahu and targeting the Palestinian militant group's political offices, the attack killed a Qatari security agent and five others, but failed...
Canada's Prime Minister Mark Carney said it was important to strengthen ties with "reliable allies" in Europe, as he met British and French leaders on his first overseas visit amid tensions with the United States. Carney's decision to visit Paris and London instead of Washington, as is usual for Canadian leaders, comes after U.S. President Donald Trump escalated trade tensions with both Canada and Europe, and floated threats of annexing Canada. "(It) is more important than ever for Canada to strengthen its ties with reliable allies like France," Carney said, ahead of a working lunch with...
President Donald Trump's tariff hikes will drag down growth in Canada, Mexico and the United States while driving up inflation, the OECD forecast on Monday, cutting its global economic outlook and warning that a broader trade war would sap growth further. In the case of a generalised trade shock, not only will U.S. households pay a high direct price, but the likely economic slowdown will cost the United States more than the extra income the tariffs are supposed to generate, the Organisation for Economic Cooperation and Development estimated in its interim outlook. Global growth is on...
Retail Sales in the United States (US) rose by 0.2% in February to $722.7 billion, the US Census Bureau announced on Monday. This reading followed the 1.2% decrease reported in January and came in worse than the market expectation for an increase 0.7%. On a yearly basis, Retail Sales were up 3.1%. Source: FXstreet
German carmaker BMW (ETR:BMWG) said on Friday it expected tariffs to cost it 1 billion euros ($1.09 billion) this year, while European officials warned the U.S. economy would be the biggest loser if President Donald Trump pursues an "idiotic" trade war. BMW is directly in the firing line of the trade spat between Washington and the European Union, set to escalate in early April as Trump imposes "reciprocal" tariffs to match higher duty rates of EU and other countries and counteract their non-tariff trade barriers. Trump has increased tariffs on U.S. steel and aluminium imports and imposed...
Bank of America has cut 16 bankers from its investment banking department in Hong Kong as part of global cuts to its dealmaking workforce, three sources with knowledge of the matter told Reuters on Friday. The reductions mainly targeted junior positions, said the sources, who asked not to be named as they were not authorised to speak to media. Most junior bankers were offered positions in other departments within Bank of America, one of the sources said, but it was unclear how many of them had accepted the proposal. Bank of America declined to comment. The U.S. lender is eliminating 150...
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...
Less than four months ago, President Donald Trump met with Qatar's leader, praised his magnificent palace, and signed a comprehensive defense agreement with the Gulf monarchy, a key ally that hosts...