Euro drops to three-week low before auto tariff announcement
NEW YORK -The dollar hit a three-week high against the euro and gained on the yen on Wednesday as traders awaited an announcement from U.S. President Donald Trump on auto tariffs. Traders worry that the trade levies will dent U.S….
Trading Day: ‘Tariff Man’ flexes muscles, markets cower
ORLANDO, Florida – TRADING DAY Making sense of the forces driving global markets Nasdaq slumps 2%, tariff fears intensify It was really only a matter when, not if, tariff fears cast a pall over Wall Street and global markets again,…
Energy leads UK shares higher after finance minister trims spending plans
British equities closed higher on Wednesday, buoyed by rising energy stocks, after finance minister Rachel Reeves pushed back government spending plans in a long-anticipated budget update. Both the blue-chip FTSE 100 and the FTSE 250 index gained 0.3%. Facing a…
Wall Street ends down sharply on tariff worries; Nvidia and Tesla drop
Wall Street stocks ended sharply lower on Wednesday, dragged down by losses in Nvidia and Tesla as investors awaited information about long-promised U.S. tariffs on automotive imports. U.S. President Donald Trump was set to announce plans for car-industry tariffs at…
Stocks tumble, dollar climbs as new tariff announcement eyed
NEW YORK -Global stocks dropped for the first time in three sessions on Wednesday and the U.S. dollar resumed its ascent as investors awaited the next tariff announcement from U.S. President Donald Trump. Trump was scheduled to hold a press…
Tokyo’s Japan Activation Capital raises $512 million in second fund from domestic investors
TOKYO – Tokyo-based investment firm Japan Activation Capital (JAC) said on Thursday it had closed its second fund at 77 billion yen ($511.93 million), bringing the total amount it has raised from domestic institutional investors to about 210 billion yen….
China’s industrial profits fall in January-February as economic risks mount
BEIJING -China’s industrial profits slipped in the first two months of 2025, signalling a challenging period ahead for businesses as they navigate persistent deflationary forces and an escalating trade war with the United States. The economy got off to an…
Trump’s 25% car tariff ignites international criticism
U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war he kicked off upon regaining the White House this year in a move auto industry experts…
US consumer agency seeks to vacate discrimination case it had already won
The top U.S. consumer finance agency on Wednesday asked a court to undo an enforcement case which the watchdog had already won last year, accusing prior agency officials of abusing their power as they sought to enforce diversity, equity and…
Dollar mixed, Mexican peso and Canadian dollar drop on auto tariffs
NEW YORK -The dollar was mixed on Thursday as traders mulled how severe tariffs scheduled to be revealed by U.S. President Donald Trump next week are likely to be, while the Canadian dollar and Mexican peso weakened after Trump announced…
Factbox-What’s in Trump’s new 25% tariffs on US auto imports?
President Donald Trump on Wednesday followed through on weeks of threats for new tariffs on imported cars, saying a 25% import tax on vehicles not built in the U.S. would kick in next week. Trump will impose a 25% tariff…
Exclusive-Italy pursues payment from Meta, X and LinkedIn in landmark tax case
MILAN – Italy has handed tax demands to Meta, X and LinkedIn in an unprecedented VAT claim against the U.S. tech giants that could have repercussions across the European Union, four sources with direct knowledge of the matter said on…
Oil approaches one-month highs as investors assess supply, trade war risks
NEW YORK – Oil prices edged higher on Thursday as traders assessed a tightening of crude supplies along with new U.S. tariffs and their expected effect on the world’s economy. Brent crude futures gained 24 cents, or 0.3%, to settle…
JSR’s incoming CEO signals focus on finances, retreat from sector M&A ambitions
TOKYO – The incoming CEO of Japanese chip materials maker JSR plans to focus on restoring the company’s business performance, shifting away from previous ambitions to drive consolidation in the sector. JSR’s financial performance is not good, and the company…
Robinhood to bring wealth management, private banking to retail investors
Robinhood is rolling out wealth management and private banking services for investors with modest portfolios, as the trading platform looks to have a bigger influence on its users’ financial habits. The company said on Wednesday it is launching ‘Robinhood Strategies’…
Trump says he may give China reduction in tariffs to get TikTok deal done
WASHINGTON – U.S. President Donald Trump said on Wednesday he would be willing to reduce tariffs on China to get a deal done with TikTok’s Chinese parent ByteDance to sell the short video app used by 170 million Americans. ByteDance…
Stocks down, gold hits record after Trump’s latest tariff volley
NEW YORK -Global stocks fell for a second straight session and gold hit a record high on Thursday after the latest tariffs from U.S. President Donald Trump’s administration that expanded the trade war to autos. Trump on Wednesday announced 25%…
Japan putting ‘all options on table’ in dealing with US auto tariffs, PM Ishiba says
TOKYO – Japanese Prime Minister Shigeru Ishiba said on Thursday Tokyo will put “all options on the table” in dealing with Washington’s announcement to impose a 25% tariff on automobile imports. U.S. President Donald Trump on Wednesday unveiled a 25%…
Australia PM Albanese says election ‘imminent’ as government rushes to pass tax cuts bill
SYDNEY -Australia Prime Minister Anthony Albanese said on Thursday he planned to call an election “imminently” as his centre-left government rushed through the parliament a bill on fresh tax cuts in a bid to lift support and win back aggrieved…
Investors react as Trump auto tariffs rattle markets
Automaker stocks around the world slumped on Thursday after the latest round of U.S. tariffs were targeted at the sector. U.S. President Donald Trump said late on Wednesday the United States will effectively charge a 25% tariff on all cars…
Musk says impact of auto tariffs on Tesla is ‘significant’
Tesla CEO Elon Musk said on Wednesday that the impact of U.S. President Donald Trump’s auto tariffs on Tesla is “significant.” “Important to note that Tesla is NOT unscathed here. The tariff impact on Tesla is still significant,” Musk said…
US auto tariffs shake global industry as higher prices, job losses loom
DETROIT/BERLIN – U.S. President Donald Trump’s announcement of a 25% tariff on auto imports rippled throughout the world on Thursday, as global carmakers warned of immediate price hikes and dealers raised fears of job losses in big auto-exporting countries, many…
SK Hynix says some customers brought forward orders ahead of US tariffs
ICHEON, South Korea -South Korea’s SK Hynix, the world’s second-largest memory chip maker, said on Thursday that some customers have brought forward orders in preparation for new U.S. tariffs. Speaking at the company’s annual shareholder meeting, SK Hynix’s Head of…
Canada will respond to Trump auto tariffs with its own trade actions
Canadian Prime Minister Mark Carney said on Thursday that he would respond with unspecified trade actions if U.S. President Donald Trump imposes new auto tariffs that have expanded a global trade war and hammered stocks. Carney said he had not…
Ninestar says sale of Lexmark worth up to $150 million in equity value
BEIJING – China-based Ninestar Corp plans to sell printer and printing software maker Lexmark International II to Xerox in a deal with an equity value of up to $150 million. Ninestar said in an exchange filing on Wednesday that it…
Canada will react to Trump’s ‘attack’ soon, could impose tariffs, says Carney
OTTAWA -Canada will soon respond to new tariffs on imported vehicles announced by U.S. President Donald Trump and could impose retaliatory measures against the United States, Prime Minister Mark Carney said on Wednesday. Carney said Trump’s move was “a direct…
Trump asks if Lee Harvey Oswald was helped in assassinating JFK
WASHINGTON -U.S. President Donald Trump said on Saturday he believes the 1963 assassination of President John F. Kennedy was carried out by Lee Harvey Oswald but asked if the gunman had help. When asked if he believes Oswald killed JFK,…
South Korea’s Constitutional Court strikes down impeachment of PM Han Duck-soo
SEOUL-South Korea’s Constitutional Court ruled on Monday to strike down the impeachment of Prime Minister Han Duck-soo and restore his powers, marking the latest twist in the country’s political turmoil after his impeachment as acting president more than two months…
Trump’s Social Security chief backs down from ‘shutting down’ agency
WASHINGTON -The head of the U.S. Social Security Administration has backed down from “shutting down the agency” after a federal judge rebuked him for misinterpreting a court ruling that limited billionaire Elon Musk’s access to agency information. The agency’s leader,…
Exclusive-Thousands of agents diverted to Trump immigration crackdown
WASHINGTON -Federal agents who usually hunt down child abusers are now cracking down on immigrants who live in the U.S. illegally. Homeland Security investigators who specialize in money laundering are raiding restaurants and other small businesses looking for immigrants who…