The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) dropping to 48.7 from 49.1 in September. This reading came in weaker than the market expectation of 49.5. Other details of the PMI report showed that the Employment Index edged higher to 46 from 45.3 in this period, while the New Orders Index improved to 49.4 from 48.9. Finally, the Prices Pair Index, the input inflation component of the survey, declined to 58 from 61.9. Source: FXstreet
The United States government has already collected tens of billions of dollars from President Donald Trump's "reciprocal tariffs." But that money and a lot more could end up being refunded if the Supreme Court agrees with lower courts that many of the levies on imports from other countries are illegal. Anywhere between $750 billion to a whopping $1 trillion, warned Treasury Secretary Scott Bessent in a declaration filed with the Supreme Court last week. That eye-popping total could include the more than $72 billion in tariff revenue collected so far by U.S. Border and Customs enforcement...
Russian forces attacked a thermal power plant in the Kyiv region as part of an overnight attack, Ukraine's Energy Ministry said on Monday, triggering local power outages and gas outages. The attack came a day after Moscow's largest airstrike in Ukraine's three-and-a-half-year war. "The goal is clear: to cause even more hardship to the peaceful Ukrainian population, leaving Ukrainian homes, hospitals, kindergartens, and schools without light and heating," the ministry wrote on the Telegram messaging app. It added that rescue teams and technicians were working at the site on Monday. The...
Ukrainian President Volodymyr Zelenskiy said on Friday thousands of foreign troops could be deployed to his country under post-war security guarantees, but Russian leader Vladimir Putin said Moscow would regard them as legitimate targets to attack. Their comments underlined the gulf between Kyiv and Moscow as Western pessimism mounts over prospects for ending Russia's war in Ukraine quickly, with U.S. President Donald Trump expressing growing frustration with Moscow by saying Russia appeared "lost" to "deepest, darkest China." French President Emmanuel Macron said on Thursday that 26...
The U.S. economy added fewer jobs than anticipated in August, possibly bolstering the case for the Federal Reserve to slash interest rates at its next policy meeting later this month. Data from the Labor Department's Bureau of Labor Statistics showed that nonfarm payrolls came in at 22,000 last month, down from an upwardly-revised level of 79,000 in July. Economists had estimated that the figure would stand at 75,000. Meanwhile, the unemployment rate edged higher to 4.3%, up from 4.2% in the prior month and in line with forecasts. Source : Investing.com
U.S. President Donald Trump told European leaders on Thursday that Europe must stop buying Russian oil that he said is helping Moscow fund its war against Ukraine, a White House official said, striking a combative tone amid slow diplomatic progress to end the fighting. Trump joined a call of the "Coalition of the Willing" countries, led by French President Emmanuel Macron, who were meeting in Paris on security guarantees for Kyiv in the event of a peace deal with Russia. "President Macron and European leaders called President Trump into their ‘Coalition of the Willing' meeting. President...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
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...
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who represent the poorest members of society when they...