Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
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...
The U.S. economy grew by more than previously projected in the second quarter, fueled by an upward revision in consumer spending. U.S. gross domestic product, an indicator of growth in the world's biggest economy, expanded by 3.8% during the April to June period, according to the third and final estimate from the Commerce Department's Bureau of Economic Analysis on Thursday. A prior estimate had suggested that the U.S. economy grew by 3.3% in the second quarter, after contracting by 0.5% in the first quarter. The first estimate showed growth of 3.0%. Source : Investing.com
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...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...