World markets kicked off November in an upbeat mood, riffing off buoyant company earnings and calmer trade relations while batting away OPEC's planned end to output hikes and this week's Supreme Court hearing on President Donald Trump's tariffs. Following last week's meeting between Trump and China's President Xi Jinping in South Korea, the White House announced Saturday that China would lift export controls on rare earths and end probes into U.S. chip firms. But Trump said AI giant Nvidia's most advanced chips would be reserved for U.S. companies and kept out of China and other...
The U.K.'s annual inflation rate hit a hotter-than-expected 3.8%in July, according to data released by the Office for National Statistics (ONS) on Wednesday. Economists polled by Reuters had anticipated inflation would reach 3.7% in the twelve months to July, after it picked up to 3.6% in June, exceeding forecasts. July core inflation, which excludes more volatile energy, food, alcohol and tobacco prices, rose by an annual 3.8%, up from 3.7% in the twelve months to June. The latest data comes after the Bank of England earlier this month voted by a fine margin to cut...
The U.S. Commerce Department said on Tuesday it is hiking steel and aluminum tariffs on more than 400 products including wind turbines, mobile cranes, appliances, bulldozers and other heavy equipment, along with railcars, motorcycles, marine engines, furniture and hundreds of other products. The department said 407 product categories are being added to the list of "derivative" steel and aluminum products covered by sectoral tariffs, with a 50% tariff on any steel and aluminum content of these products plus the country rate on the non-steel and non-aluminum content. Evercore ISI said in a...
U.S. President Donald Trump said on Tuesday he ruled out putting U.S. troops on the ground in Ukraine but said the United States might provide air support as part of a deal to end Russia's war in the country. A day after Trump pledged security guarantees to help end the war at an extraordinary White House summit, the path to peace remained uncertain as the U.S. and allies prepared to work out what military support for Ukraine might include. "When it comes to security, (Europeans) are willing to put people on the ground. We're willing to help them with things, especially, probably, ... by...
Donald Trump urged Russia's Vladimir Putin and Ukraine's Volodymyr Zelenskiy to show "flexibility" as the US president seeks to expedite his efforts to end the war in Ukraine. "I hope President Putin will behave, and if he doesn't, it's going to be a difficult situation," Trump said Tuesday in an interview on Fox News. "I hope Zelenskiy, President Zelenskiy, will do what he has to do. He has to show flexibility." Trump's comments follow a series of twists and turns as the US president seeks to end Russia's war against Ukraine, now in its fourth year. Trump held a summit in Alaska with...
S&P Global Ratings stated that revenue from Donald Trump's tariffs will help mitigate the impact of the president's tax cuts on US fiscal health, allowing the country to maintain its current credit rating. Although Trump's trade war has roiled markets, unsettled foreign governments, and drawn criticism from leading economists, S&P affirmed the US's AA+ rating—a score it has held since 2011, when it first downgraded the world's largest economy from AAA. This is partly because S&P expects the inflow of tax revenues to offset the impact of the recent tax and spending bill on the...
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...