U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said. Bessent has now spoken with four of the 11 candidates on the administration's list of candidates to replace Fed chair Jerome Powell, whose term expires in May, the source said. Bloomberg first reported Bessent's meeting with Rieder, BlackRock's CIO of fixed income, and called him a rising contender for the post. The two met for two hours and discussed...
Job openings in the United States rose by 191,000 to 7.391 million in April 2025, above market expectations of 7.10 million. The number of job openings increased in arts, entertainment, and recreation (+43,000) and in mining and logging (+10,000). On the other hand, The number of job openings decreased in accommodation and food services (-135,000) and in state and local government, education (-51,000). Regarding regional distribution, job openings rose in the Northeast (116K), the South (127K), and in the West (33K), but fell in the Midwest (-85K). Meanwhile, both hires and total...
Global growth faces an "increasingly challenging" outlook due to potential headwinds from sweeping tariffs denting the U.S. economy, the OECD flagged in a statement lowering its estimate for economic activity this year. The Organisation for Economic Co-operation and Development slashed its projections for global gross domestic product growth for 2025 to 2.9% from an earlier estimate of 3.1%. Expected global GDP is also tipped to grow by 2.9% next year, down from a prior estimate of 3.0%. Increases in trade barriers and elevated policy uncertainty all pose "significant risks" to growth in...
Britain's trade minister Jonathan Reynolds will meet U.S. Trade Representative Jamieson Greer on Tuesday to discuss the implementation of a trade deal that has been complicated by the announcement of fresh U.S. tariffs on steel. Reynolds will review recently agreed deals with counterparts from the U.S. and EU, Britain's two biggest trading partners, during a three-day trip to Paris and Brussels this week. The deals struck last month are both political pacts rather than formal trade agreements, and the details of their implementation have not been set out. Starmer and U.S. President Donald...
The Trump administration is reportedly working to deliver on a final trade deal deadline set for Wednesday. A draft letter to various U.S. trading partners sets the deadline so close, Reuters reports, to try and push for faster trade talks as the U.S. scrambles to unveil a major trade deal the administration says is imminent. Trump's team is pushing for a deal to avoid its own tariffs Time is running out for the Trump team to secure, finalize and announce trade deals with other countries that support Donald Trump's "America First" campaign pledge. The White House has temporarily suspended...
A group of small businesses that won a ruling that most of President Donald Trump's global tariffs are illegal wants the tariffs blocked during the government's appeal, saying they are suffering direct harm from economic uncertainty. In a filing Monday with the U.S. Court of International Trade, which last week ruled that Trump exceeded his authority in imposing broad trade levies, the groups opposed the administration's request to keep the tariffs in place during its appeal. The appeals process is likely to drag on for months, so a pause would be a win for the White House. It's unclear...
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...
Poland rejected on Friday a suggestion by Donald Trump that Russian drone incursions into its airspace could have been a mistake, a rare contradiction of the U.S. president from one of Washington's...