China has confirmed that President Xi Jinping will meet with US President Donald Trump in South Korea on Thursday. The meeting is a highly anticipated one that traders and investors on both sides of the Pacific hope will ease months of trade tensions. "The two heads of state will have in-depth communication on strategic and long-term issues," a Foreign Ministry spokesperson said on Wednesday, without directly referring to the trade deal the leaders of the world's two largest economies are expected to reach in the port city of Busan. "We are willing to make joint efforts with the United...
US consumer sentiment was little changed in early October as Americans expect scant improvement in the job market or inflation. The preliminary October sentiment index edged down to 55 from 55.1 in September, according to the University of Michigan. While the latest figure was the lowest in five months, it was firmer than the median projection in a Bloomberg survey of economists. Consumers expect prices to rise at an annual rate of 4.6% over the next year, compared with 4.7% a month earlier, according to the data released Friday. They saw costs rising at an annual rate of...
Israeli forces began withdrawing from parts of Gaza on Friday (October 10) under a ceasefire agreement with Hamas, and some residents returned to devastated neighborhoods, uncertain about their safety after two years of war. "Thank God, my house is still standing," said Ismail Zayda, 40, in the Sheikh Radwan area of Gaza City. "But this place is destroyed, my neighbor's house is destroyed, the whole district is gone." "Is it over? They say it is. Why doesn't anyone come out and tell us if there is a ceasefire so we can stop being afraid?" The Israeli government ratified the ceasefire...
President Donald Trump announced steep tariffs on imported lumber and wood products, which his administration says are necessary to protect the US economy and encourage domestic manufacturing. Starting October 14, softwood lumber will be subject to a 10% tariff, while kitchen cabinets, bathroom vanities, and other finished wood products will be subject to a 25% tariff that will increase in January. The biggest hit will be Canada, the largest US lumber supplier, whose lumber exports are already subject to separate tariffs totaling 35.19%. The two countries have been embroiled in a...
Wednesday, October 8, 2025 President Donald Trump said he was open to compromise on Affordable Care Act (ACA) subsidies to end the government shutdown. Democrats agreed to the talks, but conservatives immediately rejected them. Essentially, Democrats want subsidies extended to prevent premiums from soaring; some Republicans say the expanded subsidies during COVID are too expensive and prone to abuse. In the Senate, several compromise options are being floated: allowing existing recipients to continue receiving subsidies (grandfathering), limiting the age limit (e.g., to 60–64 years old), or...
Israeli tanks, ships, and jets pounded parts of Gaza on Tuesday (October 7), offering no respite to Palestinians on the anniversary of the Hamas offensive that led to the two-year war and underscoring the challenges in negotiations over Donald Trump's plan to end the conflict. Israel continued its attacks, local residents said, after Hamas and Israel began indirect negotiations on Monday in the Egyptian resort of Sharm el-Sheikh on sensitive issues such as the withdrawal of Israeli troops from Gaza and Hamas' disarmament. The talks over the US president's plan are widely seen as the most...
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...
China has confirmed that President Xi Jinping will meet with US President Donald Trump in South Korea on Thursday. The meeting is a highly anticipated one that traders and investors on both sides of...