Initial jobless claims in the US surged by 27,000 from the previous week to 263,000 in the first week of September, the highest single-week figure since October 2021, and well above market consensus of 235,000 initial claims. This finding aligns with a series of downbeat labor market surveys released since the beginning of the month, adding to evidence of worsening employment conditions in the US. (alg) Source: Trading Economics
European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
US President Donald Trump is unlikely to follow through on his threat to impose 100% tariffs on countries buying Russian oil, as it would exacerbate politically damaging inflationary pressures. Similar threats against Venezuelan oil buyers have also met with limited success, particularly in China. This month, Trump said he would impose 100% secondary tariffs on countries buying Russian exports unless Moscow agrees to a major peace deal with Ukraine within 50 days, a deadline that expires in early September. The threat mirrors the March announcement that the US would impose tariffs on...
Orders placed with US factories for business equipment unexpectedly declined in June, suggesting companies remained cautious about capital spending due to trade and fiscal policy uncertainty. The value of core capital goods orders, a proxy for investment in equipment excluding aircraft and military hardware, decreased 0.7% last month after an upwardly revised 2% gain in May, Commerce Department figures showed Friday. Bookings for all durable goods — items meant to last at least three years and including orders for commercial aircraft and military equipment — fell...
UK retail sales rose 0.9% month-over-month in June 2025, rebounding from a revised 2.8% drop in the previous month but missing market expectations of a 1.2% gain. It marked the fourth increase so far this year. Food store sales volumes gained 0.7%, reversing a 5.4% decline in May, supported by improved supermarket sales, particularly beverages, amid warm weather. Automotive fuel sales jumped 2.8%, the largest monthly rise since May 2024, also helped by favorable weather. Online sales (non-store retailers) rose 1.7%, reaching their highest level since February 2022. Meanwhile, non-food...
President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical buildings at its headquarters and pressing the case for lower interest rates. Trump, who called Powell a "numbskull" earlier this week for failing to heed the White House's demand for a large reduction in borrowing costs, wrapped up his visit to the Fed's $2.5 billion building project in Washington by saying he did not intend to fire Powell, as he has frequently suggested he would. "To do so is...
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...