Less than four months ago, President Donald Trump met with Qatar's leader, praised his magnificent palace, and signed a comprehensive defense agreement with the Gulf monarchy, a key ally that hosts the largest US base in the Middle East. Israel's surprise attack on Hamas leaders in Doha on Tuesday has shaken the relationship, angered Trump, and drawn strong condemnation from Doha and its Western allies. Ordered by Israeli Prime Minister Benjamin Netanyahu and targeting the Palestinian militant group's political offices, the attack killed a Qatari security agent and five others, but failed...
European tech shares came under pressure on Monday, after Chinese tech startup DeepSeek's low-cost artificial intelligence model sparked worries about returns in the AI business and the need for costly chips.The pan-European STOXX 600 dropped as much as 0.8% earlier in the day, tracking a global market sell-off on concerns about AI investment and tech sector valuations, after DeepSeek rolled out a free assistant that it says uses lower-cost chips and less data. [MKTS/GLOB]European tech stocks slid 3.4% and were on track for their biggest daily drop since October, with chip equipment maker...
U.S. Federal Reserve policymakers meeting next week are expected to keep interest rates on hold but the larger story unfolding will be how the central bank confronts early moves by President Donald Trump that are likely to shape the economy this year, including demands the Fed continue lowering borrowing costs. Trump was already complicating the Fed's job with moves to restrict immigration and raise import taxes, and on Thursday told global business leaders he would call on the Fed to cut interest rates. "I'll demand that interest rates drop immediately, and likewise they should be...
The S&P US Global Manufacturing PMI edged up to 50.1 in January 2025 from 49.4 in December, beating market expectations of 49.7 and signaling a slight improvement in manufacturing conditions after six months of decline. Factory output edged up for the first time in half a year, with new orders also returning to modest growth. Employment rose for a third straight month, with the pace of job creation the fastest since July. Supplier lead times continued to lengthen, reflecting busier supply chains, although the impact on the PMI was less pronounced than in December. On the downside,...
Copper miner Freeport-McMoRan (NYSE:FCX) posted a drop in fourth-quarter production on Thursday and said that its costs would rise more than expected this year, sending the company's shares down more than 4%. While the Phoenix-based company was able to post a better-than-expected quarterly profit, the results were fueled by higher copper prices during the quarter that offset a production drop in Indonesia. Freeport operates Indonesia's Grasberg, the world's second-largest copper mine, and had been building a smelter in the country as part of an operating agreement with Jakarta...
The number of Americans filing for unemployment benefits rose to 223,000 in the week ending Jan. 19, 2025. That was up from the estimate of 221,000 and the previous weekly estimate of 217,000, the Labor Department said Thursday. Source: @Newsmaker23
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...
Less than four months ago, President Donald Trump met with Qatar's leader, praised his magnificent palace, and signed a comprehensive defense agreement with the Gulf monarchy, a key ally that hosts...