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U.S. Federal Deposit Insurance Corporation is looking for ways to cut staffing by an additional 20% as part of Elon Musk’s Department of Government Efficiency cost-cutting, Bloomberg News reported on Thursday, citing people familiar with the matter. Reuters earlier in…
U.S. President Donald Trump on Thursday threatened Mexico with sanctions and tariffs in a dispute over water sharing between the two countries, accusing Mexico of breaking an 81-year-old treaty and “stealing the water from Texas Farmers.” Under the 1944 treaty,…
WASHINGTON -The top Democrat on the U.S. Senate’s intelligence committee on Thursday said he suspected a task force formed by Director of National Intelligence Tulsi Gabbard was pursuing a “witch hunt” for intelligence officers it deems disloyal to President Donald…
MOSCOW – Russia’s defence ministry said on Thursday its forces had captured the village of Zhuravka in Ukraine’s northern border region of Sumy, although Ukrainian officials made no acknowledgement that it had been taken. Moscow has long staged air attacks…
BEIJING -China, Japan and South Korea finance and central bank officials met and discussed the impact of U.S. tariffs on the global and regional macroeconomic situation, China’s central bank said on Friday. The People’s Bank of China Deputy Governor Xuan…
Chinese property developer Country Garden said on Friday it had reached an agreement with a key bondholder group and was close to finalising negotiations with a group of bank creditors. The company defaulted on its offshore debt in late 2023…
Tesla on Thursday said it has launched a new version of Cybertruck in the United States, priced at $69,990. The new Cybertruck long-range variant is the cheapest among the three models it currently has in the U.S., Tesla’s website shows.
Oil prices fell on Friday and were set to drop for a second week on concerns prolonged trade war between the United States and China, the world’s largest economies, will crush crude consumption as their dispute curtails economic growth. Brent…
TOKYO – Warren Buffett’s Berkshire Hathaway has priced a 6-tranche yen denominated bond totalling 90 billion yen ($626.70 million), according to a term sheet reviewed by Reuters. The sale comes as debt deals are being shelved because of the fallout…
BEIJING/WASHINGTON – A week of turmoil unleashed by U.S. President Donald Trump’s tariffs showed little sign of easing on Friday, with markets again tumbling and foreign leaders trying to work out how to respond to a dismantling of the world…
Gold breached the key $3,200/oz level for the first time to scale a new peak on Friday, fuelled by a weaker dollar and an escalating trade war that sent investors rushing toward safe-haven assets. Spot gold rose 1.3% at $3,216.48…
BEIJING -Chinese President Xi Jinping will embark on a three-nation Southeast Asia tour next week in his first overseas trip this year to consolidate ties with some of China’s closest neighbours as trade tensions with the United States escalate. Xi…
WASHINGTON – U.S. President Donald Trump said on Thursday that he would love to get a deal with China to end an escalating trade war. Trump made the comments during a Cabinet meeting opened to press. U.S. Treasury Secretary Scott…
Alphabet’s Google on Thursday laid off hundreds of employees in its platforms and devices unit, which works on the Android software, Pixel phones and the Chrome browser, The Information reported on Friday, citing a person with direct knowledge of the…
PARIS – French President Emmanuel Macron said on Friday that U.S. President Donald Trump’s decision this week for a 90-day suspension on tariffs he had imposed on countries gave room for only a ‘fragile pause’. “The partial suspension of American…
MONTREAL/CHICAGO – Cars, consumer goods, and industrial equipment have been delayed at ports, stuck on rail cars, and languished in warehouses at times over the last few months due to the White House’s on-again, off-again tariff policy. Planes and their…
WASHINGTON -Tech billionaire Elon Musk, tasked by U.S. President Donald Trump with cutting the federal government, said he anticipates saving $150 billion for fiscal year 2026 from a “reduction of waste and fraud.”
DUBAI – Iran is giving talks with its arch foe the United States this weekend “a genuine chance”, the Iranian foreign ministry’s spokesperson posted on X on Friday. U.S. President Donald Trump made a surprise announcement on Monday that Washington…
BEIJING – China’s exports likely picked up pace in March, as factories rushed out shipments ahead of U.S. President Donald Trump’s sweeping tariffs this month, though the broadening trade war with the United States has darkened the economic outlook. Trade…
LONDON -Britain’s economy grew at a monthly pace of 0.5% in February, figures from the Office for National Statistics showed on Friday, well above economists’ expectations in a Reuters poll for an expansion of 0.1%. Gross domestic product in February…
BERLIN – German inflation eased to 2.3% in March, the federal statistics office said on Friday, confirming preliminary data. German consumer prices, harmonised to compare with other European Union countries, had risen by 2.6% year-on-year in February.
European stocks rose on Friday at the end of a volatile week that was dominated by erratic changes in tariffs by the United States and its major trading partners that fuelled concerns over the economic ravages of a trade war….
TAIPEI -Taiwan is to be included in the first batch of trading partners to hold talks with Washington, President Lai Ching-te said on Friday, as his economy minister said the island could import over $200 billion worth of U.S. goods,…
GENEVA – A former World Trade Organization boss has said the future terms of global trade, rocked by U.S. President Donald Trump’s sweeping protectionist tariffs, could be decided outside the 30-year-old international watchdog unless it reforms itself fast. The speech…
BEIJING -Beijing on Friday increased its tariffs on U.S. imports to 125%, hitting back against U.S. President Donald Trump’s decision to hike duties on Chinese goods to 145%, raising the stakes in a trade war that threatens to up-end global…
GENEVA -Sweeping tariffs under U.S. President Donald Trump and countermeasures could have a “catastrophic” impact on developing countries, hitting even harder than foreign aid cuts, the director of the United Nation’s trade agency said on Friday. Global trade could shrink…
Venezuela’s national assembly on Thursday passed a decree proposed by President Nicolas Maduro’s government declaring a state of economic emergency in response to U.S. sanctions and tariffs. In March, the administration of U.S. President Donald Trump began suspending authorizations for…
HONG KONG – Five senior members of Hong Kong’s Democratic Party, the city’s biggest and last remaining major opposition party, say Chinese officials or middlemen have warned the parties to disband or face serious consequences, including possible arrests. The Democratic…
SINGAPORE -As Donald Trump’s grand plan to redefine global trade whipsaws the U.S. dollar, investors who hold tens of trillions’ worth assets in the currency may for the first time in decades be seeking ways to protect the value of…
U.S. stock index futures fell on Friday after China increased its tariffs on U.S. imports to 125%, escalating a trade war that could disrupt global trade and trigger an economic downturn. China’s move comes after U.S. President Donald Trump on…