U.S. President Donald Trump has urged European Union officials to levy tariffs of up to 100% on China and India as part of a strategy to pressure Russian President Vladimir Putin, Reuters reported on Tuesday, citing a U.S. official and an EU diplomat. Trump made the request during a conference call with EU sanctions envoy David O'Sullivan and other officials, according to the report. Washington signaled it would impose similar duties if Brussels joined the effort, the report said. Both China and India are major buyers of Russian crude and remain key to keeping Moscow's economy afloat as...
The U.S. Federal Reserve will keep interest rates on hold for at least another couple of months, according to most economists polled by Reuters, as risks linger that inflation may resurge due to President Donald Trump's tariff policies. With most trade negotiations incomplete as the July 9 deadline for a 90-day pause on tariffs announced in April approaches, forecasters have been reluctant to change their already fragile economic outlook. Rising concerns about U.S. debt and a deluge of bond issuance fuelled by a sweeping tax cut bill passed by the House of Representatives, but not the...
Russia is ramping up production of drones, enabling massive daily attacks on Ukrainian cities as its forces slowly advance on the battlefield and Moscow pressures Kyiv to accept its peace terms. The Kremlin unleashed deadly destruction on the capital Kyiv and the Black Sea city of Odesa overnight, firing 315 drones and seven missiles, according to Ukraine. That followed a record 479 drones the night before, which topped the record set on June 1. Moscow has been relentlessly ramping up drone attacks since the start of the year, when the scale of the attacks in February hit a daily record of...
U.S. President Donald Trump's top trade officials are meeting their Chinese counterparts in London on Monday for talks aimed at resolving an ongoing trade dispute between the world's two largest economies. U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are representing the U.S. China's Foreign Ministry said Saturday that Vice Premier He Lifeng, Beijing's lead trade negotiator, will be in the U.K. between June 8-13, and that a meeting of the "China-U.S. economic and trade consultation mechanism" would take place. National...
U.S. President Donald Trump and his Republican allies in Congress are determined to enact his tax-cut agenda in a political push that has largely abandoned longtime party claims of fiscal discipline, by simply denying warnings that the measure will balloon the federal debt. The drive has drawn the ire of Elon Musk, a once-close Trump ally and the biggest donor to Republicans in the 2024 election, who gave a boost to a handful of party deficit hawks opposed to the bill by publicly denigrating it as a "disgusting abomination," opening a public feud with Trump. But top congressional...
The UK 10-year gilt yield rose to 4.66% as investors awaited the government's spending review this Wednesday, which will set departmental budgets through 2029. The UK economy has shown resilience despite global uncertainty, with stronger business surveys and a solid Q1 GDP pointing to recovery from a weak end to 2024. However, concerns remain about high public debt levels, and the public is eager for improvements in living standards, according to Finance Minister Rachel Reeves. Markets expect the Bank of England to keep interest rates steady at its June 19 meeting. This week's key UK data...
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...
U.S. President Donald Trump has urged European Union officials to levy tariffs of up to 100% on China and India as part of a strategy to pressure Russian President Vladimir Putin, Reuters reported...