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...
Ministerial level trade talks between Japan and the U.S. are set to take place later this week– marking the third round of high-level talks between the nations, Japan's Kyodo News agency reported on Tuesday. Kyodo reported that Ryosei Akazawa, Japan's top trade negotiator and minister of economic revitalization, will fly to Washington by Friday to engage in a third round of high-level talks. Kyodo cited comments from a U.S. official. Separately, Akazawa said in a press conference on Tuesday that working level talks took place between Washington and Tokyo on Monday, and that high-level...
China on Monday accused the US of undermining the two countries' preliminary trade agreement after the US issued an industry warning against using Chinese chips that singled out Huawei, per CNBC. According to a spokesperson for China's Ministry of Commerce, the US Commerce Department's advice is "discriminatory" and "market distorting," prompting Beijing to "demand" that the administration "correct its mistakes." China Slams U.S. Huawei Chip Ban as Threat to Trade TruceChina Indicators China has strongly criticized a U.S. directive targeting certain high-end Huawei chips, saying it...
President Donald Trump said that Ukraine and Russia would begin talks "immediately" on ending their war after a phone call with Russian President Vladimir Putin on Monday. "Russia and Ukraine will immediately start negotiations toward a Ceasefire and, more importantly, an END to the War," Trump said in a social-media post. "The conditions for that will be negotiated between the two parties, as it can only be, because they know details of a negotiation that nobody else would be aware of." The US president said he had also briefed European leaders on his two-hour call...
U.S. President Donald Trump's sweeping tax-cut bill, which had been stalled for days by Republican infighting over spending cuts, won approval from a key congressional committee on Sunday in a rare victory for Trump and House Speaker Mike Johnson. At an unusual Sunday night session, four hardline Republican conservatives on the House Budget Committee, who had blocked the legislation on Friday, allowed the bill to move forward as they pressed for deeper spending cuts in closed-door talks with Republican leaders and White House officials. "We've made progress this weekend ... but we didn't...
Following the publication of the high-impact China's April activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Monday. Productivity demand grew steadily. Employment situation generally stable.Economy grew steadily in face of pressure, continues developing in an upward trend. China actively diversifying, expanding trade with Belt and Road initiative nations.But there are many favorable conditions for sustained economic recovery. Although external impact increased in April, the trend of economic recovery did not...
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...