World markets kicked off November in an upbeat mood, riffing off buoyant company earnings and calmer trade relations while batting away OPEC's planned end to output hikes and this week's Supreme Court hearing on President Donald Trump's tariffs. Following last week's meeting between Trump and China's President Xi Jinping in South Korea, the White House announced Saturday that China would lift export controls on rare earths and end probes into U.S. chip firms. But Trump said AI giant Nvidia's most advanced chips would be reserved for U.S. companies and kept out of China and other...
Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged higher to 2.7% in August from 2.6% in July, the US Bureau of Economic Analysis reported on Friday. This print came in line with the market expectation. The United States (US) Bureau of Economic Analysis (BEA) will publish the Personal Consumption Expenditures (PCE) Price Index data for August on Friday at 12:30 GMT. The PCE index is closely watched by market participants because it is the Federal Reserve's (Fed) preferred measure of inflation and could...
U.S. President Donald Trump on Thursday unveiled sweeping new import tariffs, including 100% duties on branded drugs and 25% levies on heavy-duty trucks, set to come into force next week. The latest salvo, which Trump said was to protect the U.S. manufacturing industry and national security, follows wide-ranging duties on trading partners of up to 50% and other targeted levies on imported products such as steel. It's the latest upheaval for global businesses already struggling with snarled supply chains, soaring costs and consumer uncertainty caused by Trump's trade war. The barrage has...
President Donald Trump on Thursday signed an executive order approving a deal to keep TikTok operating in the U.S., with Vice President JD Vance saying it values the business at USD 14 billion. The plan, which still requires Beijing's approval, meets national security law requirements that force ByteDance to divest most of TikTok's U.S. operations or face a ban. A new joint venture will run the business, with ByteDance holding under 20%. Oracle, Silver Lake, and Abu Dhabi's MGX will control about 45%, while ByteDance investors and new stakeholders will take 35%, CNBC reported. Oracle will...
President Donald Trump announced Thursday that starting Oct. 1, the U.S. will impose new import tariffs: 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy trucks. He stated on social media that foreign manufacturers are "flooding the United States" with these products, prompting the need for tariffs "for National Security and other reasons." Trump emphasized that foreign-made heavy trucks and parts are harming domestic producers, framing the move as a protective measure for American industry. Source: Trading Economics
China would purchase U.S. soybeans if the United States removes what it calls "unreasonable tariffs" and creates conditions to support bilateral trade, a Chinese commerce ministry spokesperson said Thursday. Despite being the world's largest soybean buyer, China has yet to book U.S. cargoes from the autumn harvest, favoring South American supplies instead. Senior Chinese trade negotiator Li Chenggang recently met U.S. Midwest political and business leaders, signaling potential purchases ahead of broader trade talks. However, disagreements over technical details are complicating...
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...
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who represent the poorest members of society when they...