President Donald Trump announced a new peace pact between Rwanda and the Democratic Republic of Congo, which he linked to US access to critical minerals. At a meeting in Washington, Trump claimed his administration had "succeeded where many others have failed," calling this the eighth war he has ended in less than a year. However, the reality on the ground is far more complicated, as fighting in eastern Congo continues despite the signing of the previous peace agreement. The agreement is not just about a ceasefire; it also concerns the mineral trade. The agreement grants US companies access...
With US government funding set to expire at midnight on Tuesday, Republicans and Democrats in Congress show no signs of agreeing to a temporary budget fix that would avert a government shutdown. President Donald Trump will meet with congressional leaders at the White House on Monday in a last-ditch effort to end the impasse. However, Democrats have signaled they are unwilling to simply agree to the Republican-backed short-term funding plan without some adjustments. If Congress fails to act, thousands of federal government employees could be furloughed, from NASA to national parks, and...
US President Donald Trump on Thursday announced sweeping new import tariffs, including a 100% duty on brand-name drugs and a 25% levy on heavy-duty trucks, sparking renewed trade uncertainty after a period of relative calm. This latest attack, which Trump says is aimed at protecting the US manufacturing industry and national security, follows broad tariffs of up to 50% on trading partners and other targeted levies on imported products such as steel. This is the latest turmoil for global businesses already struggling with complex supply chains, soaring costs, and consumer uncertainty caused...
Russia's export rules spark diesel market jitters"Boosting prices were initial reports that Russia intends to ban some companies from exporting diesel. Following repeated attacks on Russian refineries, concerns have grown that domestic supply might become strained. Reports indicate that processing in Russia has dropped by approximately 7% since August. However, Deputy Prime Minister Novak later clarified that the export ban would only apply to traders and resellers." "This significantly reduces the impact, as it is estimated that only a one digit percentage share of Russia's exports will be...
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...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
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 announced a new peace pact between Rwanda and the Democratic Republic of Congo, which he linked to US access to critical minerals. At a meeting in Washington, Trump claimed...