Floods on Indonesia's holiday island of Bali have killed at least nine this week and affected 600 people, blocking off major roads in the capital and disrupting a busy travel destination, officials said on Wednesday. Continuous heavy rains between Tuesday evening and Wednesday caused the floods and killed five people in Bali's capital Denpasar, Abdul Muhari, the spokesperson of the country's disaster mitigation agency said in a statement. Four more people were killed in the regions of Jembrana, Gianyar, and Badung, Abdul added. Two people were still missing. Out of 600 people affected,...
President Donald Trump said his team is discussing 10% tariffs on China and that the duties could go into effect as early as Feb. 1. "We're talking about a 10% tariff on China based on the fact that they're sending fentanyl to Mexico and Canada," the president said, speaking to reporters at the White House on Tuesday evening. "Maybe February 1st is the date we're looking at," he added. Fentanyl, a synthetic opioid, is an addictive drug that has caused tens of thousands of overdose deaths each year in the U.S. Reducing the supply of the illicit drug, whose precursors are largely produced...
European wind shares fell on Tuesday after U.S. President Donald Trump axed support for new offshore wind power on his first day in office, adding to pain in an industry that had turned to the United States to help revive its fortunes. The biggest decliner, Denmark's Orsted (CSE:ORSTED), which plunged 17%, came under further strain from impairments on its U.S. ventures. The global offshore wind industry, which initially boomed, has been struggling to deliver the carbon reductions pursued by many governments as escalating costs, supply chain issues and planning issues have slowed...
European Union finance ministers will approve French Prime Minister Francois Bayrou's deficit-cutting plan on Tuesday as it complies with the EU's recommendations to bring the French deficit below 3% of GDP by 2029, officials said. Senior officials of EU governments agreed last week to support Bayrou's plan, which will replace a more front-loaded scheme designed by his predecessor Michel Barnier that was rejected by the French Parliament in December. "We are determined to reach the 3% deficit target by 2029, to be below by 2029," French Finance Minister Eric Lombard told reporters as he...
European equity markets are set to open cautiously on Friday (17/1) as investors prepare for the inauguration of Donald Trump as US President on January 20, amid concerns over potential tariffs that could impact the European economy. Despite the uncertainty, regional benchmarks are on track for solid weekly gains, supported by signs of easing US inflation, which have strengthened expectations for further Federal Reserve interest rate cuts this year. Meanwhile, investors will be watching UK retail sales data and final Eurozone inflation figures. In pre-market trading, Euro Stoxx 50 and Stoxx...
US citizens filing new applications for unemployment insurance rose to 217K for the week ending January 10, as reported by the US Department of Labor (DoL) on Thursday. This print missed initial estimates and was higher than the previous week's tally of 203K (revised from 201K). Source: Fxstreet
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.
It...
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 shot down a drone in its airspace on Wednesday with the support of military aircraft from its NATO allies. This is the first time a member of the Western military alliance is known to have...