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ROME – Italy has no intention for now of using budget leeway allowed by the European Union to boost its defence spending, its economy minister said on Saturday, despite U.S. pressure to increase military expenditure. The European Commission has proposed…
BUENOS AIRES -Argentina is dismantling key parts of its years-long currency controls and loosening its grip on the peso, the central bank said on Friday, a major policy move for the South American nation ahead of a $20 billion IMF…
Meta Platforms will add former Republican official Dina Powell McCormick and fintech firm Stripe’s CEO Patrick Collison to its board, effective April 15, the social media company said on Friday. The Facebook parent said in a regulatory filing that it…
SINGAPORE – In just a week, the dollar has gone from a safe haven to investors’ whipping boy as U.S. President Donald Trump’s chaotic tariffs on friend and foe alike undermine decades of trust in the world’s reserve currency. The…
WASHINGTON -U.S. consumer sentiment deteriorated sharply in April and 12-month inflation expectations surged to the highest level since 1981 amid unease over escalating trade tensions. The University of Michigan Surveys of Consumers on Friday said its Consumer Sentiment Index dropped…
NEW YORK -Janus Henderson, which manages $379 billion in assets, is advising investors to cut stock holdings and buy more investment-grade sovereign bonds as tariffs threaten to slow global growth, its global head of its multi-asset strategy said. Janus Henderson…
GREENBELT, Maryland -A U.S. federal judge said on Friday it was “extremely troubling” that the Trump administration failed to comply with her court order to provide details on the status of a Maryland resident it illegally deported to El Salvador….
TAIPEI -Taiwan officials held their first tariff talks with U.S. officials on Friday, with both sides looking forward to further discussions soon, the island’s government said on Saturday. While Taiwan, a major semiconductor producer facing tariffs of 32%, complained they…
SEOUL/HANOI – When Samsung Electronics chairman Jay Y. Lee met Vietnam’s prime minister in July, he had a simple message to convey. “Vietnam’s success is Samsung’s success, and Vietnam’s development is Samsung’s development,” Lee told Pham Minh Chinh, pledging long-term…
DUBAI – Iran and the United States will hold high-level talks in Oman on Saturday aimed at jump-starting negotiations over Tehran’s fast-advancing nuclear programme, with U.S. President Donald Trump threatening military action if there is no deal. Iran is approaching…
WASHINGTON – President Donald Trump’s administration wants to strike 90 trade deals in 90 days, but the challenges to quickly resolving the president’s trade war are already apparent. European Union trade chief Maros Sefcovic will on Monday be among the…
BUCHAREST – Romanian hard-right opposition leader George Simion, the favourite to win a presidential election re-run, said he is the only candidate who could stop a potential withdrawal of U.S. troops from the country. Romania, a European Union and NATO…
BOULDER, Colorado – A toy store manager hit with daily price increase notifications. A lip balm manufacturer forecasts a $5 million jump in cost of goods. A concert venue impresario who saw a surprise price hike of $140,000 to install…
The Trump administration is drafting an executive order to enable the stockpiling of deep-sea metals to counter China’s dominance in battery minerals and rare earth supply chains, the Financial Times reported on Saturday, citing people familiar with the matter. Under…
MOSCOW – Russian Foreign Minister Sergei Lavrov praised U.S. President Donald Trump on Saturday for what he said was a better understanding of the Ukraine conflict than any other Western leader. “When we speak about eliminating root causes of any…
NEW YORK/LONDON -The dollar weakened against major currencies on Friday as the back-and-forth over import tariffs shook investor confidence in the greenback as a safe haven, sending it to its lowest level in a decade against the Swiss franc and…
LIMA -Newly implemented U.S. tariffs will have a moderate impact on Peru’s economy, the chief economist of the Andean nation’s central bank said on Friday. Peru, a major exporter of metals and agricultural commodities to the United States, now faces…
NEW YORK -U.S. Treasury yields were higher on Friday, with 10-year yields on track for their biggest weekly increase in decades as the global trade war raged on, while the U.S. dollar fell to its lowest in a decade against…
SINGAPORE/LONDON – The pain, said Shuntaro Takeuchi, was 10 out of 10. Not in the portfolio of Japanese stocks he runs out of San Francisco, California, but in his appendix. It would have to come out, just as his colleagues…
WASHINGTON – U.S. consumer sentiment deteriorated sharply in April and 12-month inflation expectations surged to the highest level since 1981 amid unease over escalating trade tensions that have roiled financial markets and raised the risk of a recession. The University…
WASHINGTON -Soaring consumer inflation expectations, driven to a level not seen since the early 1980s, coupled with jittery markets and rising U.S. Treasury yields on Friday amplified the Federal Reserve’s dilemma in determining whether the economy is facing a new…
St. Louis Federal Reserve President Alberto Musalem said on Friday he’s closely watching whether a rise in short-term inflation expectations seeps into longer-term expectations, a development that could make fighting inflation a much harder job and reduce the U.S. central…
WASHINGTON – More than one hundred Chinese citizens fighting for the Russian military against Ukraine are mercenaries who do not appear to have a direct link to China’s government, two U.S. officials familiar with American intelligence and a former Western…
WASHINGTON – U.S. and Ukrainian officials met on Friday on a U.S. proposal to gain access to Ukraine’s mineral wealth, a source with knowledge of the matter said, adding that prospects for a breakthrough were scant given the meeting’s “antagonistic”…
WASHINGTON – The World Bank is poised to announce a $12 billion financing package for Argentina on Friday, supplementing the International Monetary Fund’s expected approval of a $20 billion Argentina loan deal, a source with knowledge of the plan said….
European private equity firm CVC is exploring a $75 billion deal for private credit lender Golub Capital, the Financial Times reported on Friday, citing several people familiar with the situation. The private credit sector, which involves institutional lending to companies…
Southern California Edison (SCE), a subsidiary of utility Edison International, said on Friday it had submitted an initial plan to rebuild the areas within its service territory that were devastated by the Los Angeles wildfires in January. The preliminary plan…
U.S. Defense Secretary Pete Hegseth has ordered the termination of IT services contracts, totally valued at $5.1 billion, with companies such as Accenture and Deloitte, a memo showed on Thursday. The pacts “represent non-essential spending on third party consultants” for…
A U.S. judge on Thursday allowed the Trump administration to go ahead with a plan to make immigrants illegally living in or entering the United States register with the federal government or face fines or imprisonment. U.S. District Judge Trevor…
WASHINGTON -The U.S. Supreme Court directed President Donald Trump’s administration on Thursday to facilitate the return to the United States of a Salvadoran man who the government has acknowledged was deported in error to El Salvador. The court’s decision came…