European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
The Eurozone manufacturing sector remained in contraction, while services sector also followed suit in May, according to data from the HCOB's latest Purchasing Managers' Index (PMI) Survey, published on Thursday. The Eurozone Manufacturing Purchasing Managers Index (PMI) improved to 49.4 in May from 49 in April, beating the market estimate of 49.3. The bloc's Services PMI fell to 48.9 May from 50.1 in April. The data came in below the expected 50.3 print and hit a 16-month low. The HCOB Eurozone PMI Composite contracted to 49.5 in May, following April's 50.4. The market forecast was...
China and the 10-member ASEAN bloc have concluded negotiations on an upgraded free-trade agreement, known as version 3.0, marking a key move to deepen Beijing's regional ties amid ongoing U.S. trade disputes. The deal, which updates a 15-year-old agreement, awaits ratification and could be signed within the year. "China stands ready to work with ASEAN to ensure the stability of global supply chains, advance shared development, and safeguard fairness and justice," said Commerce Minister Wang Wentao. He criticized U.S. trade policies, warning that "there are no winners in a tariff war or...
U.S. President Donald Trump's massive tax and spending bill cleared an important procedural hurdle in the Republican-controlled House of Representatives on Wednesday, when a gatekeeper committee approved the measure and set up a floor vote for passage to occur within hours. Republicans have been deeply divided over the bill, which would extend Trump's signature 2017 tax cuts, create new breaks for tipped income and auto loans, end many green-energy subsidies and boost spending on the military and immigration enforcement. It would pay for those changes by tightening eligibility for food and...
The US House of Representatives is set to begin voting on a Republican tax and budget bill that largely contains many of President Donald Trump's wish list items. President Trump has informally referred to the tax and budget bill as his "big, beautiful bill," prompting Republican lawmakers to officially rename the document the "One Big Beautiful Bill Act." Key Republicans have been pushing back against the bill's opponents within their own party after some hardline Republicans voiced their displeasure with the broad outlines of the bill: some feel it doesn't include enough cuts to key...
President Donald Trump's tax cut and spending bill faces a critical stress test on Wednesday as Republicans in the U.S. House of Representatives try to overcome internal divisions about cuts to the Medicaid health program and tax breaks in high-cost coastal states. The gate-keeping House Rules Committee has scheduled an unusual 1 a.m. ET (0500 GMT) hearing that is expected to run well into daylight hours where members will debate details of the measure. If passed by Congress, it would reduce some health and food benefits for low-income Americans, cancel green-energy programs and provide...
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 locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical...