Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly," Trump said without specifying which nations he was referring to. The BRICS group currently includes Brazil, Russia, India, China, South Africa, and has recently expanded to include other nations. In addition to...
U.S. President Donald Trump said on Sunday that he will announce additional 25% tariffs on all steel and aluminum imports into the U.S., and will also announce reciprocal duties over what he sees as unfair trading practices. Speaking to reporters on Air Force One, Trump said he will announce the 25% tariffs on Monday, and will announce the reciprocal tariffs on Tuesday or Wednesday, with both duties to be effective immediately. The president was on his way to the NFL Super Bowl in New Orleans- a route that saw him fly over the Gulf of America, which the president had recently renamed from...
Hundreds of small earthquakes that shook Greece's tourist hotspot of Santorini this week have revived concerns about the safety of a decades-long construction boom along the island's sheer, volcanic cliffs, experts said. No serious damage has been reported, but scientists have warned that the seismic activity could last for weeks and have not ruled out the possibility of a larger quake to come. That worries experts, some of whom have long questioned the sustainability of turning the small island of quaint villages into one of Europe's most popular holiday destinations. "They wanted to...
Nonfarm Payrolls (NFP) in the US rose by 143,000 in January, the US Bureau of Labor Statistics (BLS) reported on Friday. This reading followed the 307,000 increase (revised from 256,000) recorded in December and came in below the market expectation of 170,000. Other details of the publication showed that the Unemployment Rate declined to 4% from 4.1%, while the Labor Force Participation Rate edged higher to 62.6% from 62.5%. Finally, annual wage inflation, as measured by the change in the Average Hourly Earnings, rose 4.1%, surpassing the market expectation of 3.8%. Source: FXstreet
The International Monetary Fund on Thursday said it is closely following developments in the U.S., including moves by the Trump administration to halt foreign aid and impose tariffs on China, but it was too soon to offer clear assessments of the impact. The global lender has repeatedly warned countries that protectionist measures, trade restrictions and increased uncertainty could dampen global growth, but IMF spokesperson Julie Kozack said the impact of already announced U.S. tariffs and other measures would depend on the responses of other countries and consumers, along with further trade...
Initial applications for U.S. unemployment benefits rose last week but remained relatively subdued. New claims rose by 11,000 to 219,000 in the week ended Feb. 1. The median forecast in a Bloomberg survey of economists called for 213,000 applications. Continuing claims, a proxy for the number of people receiving benefits, rose to 1.89 million in the week ended Jan. 25, according to Labor Department data released Thursday. The level of initial claims has remained broadly in line with pre-Covid levels, and private employment data from ADP Research showed a healthy pace of hiring in January....
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 said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...