Reported 1 day ago
Indonesia has proposed to reduce tariffs on key imports from the U.S. to nearly zero and plans to purchase $500 million worth of American wheat as part of ongoing tariff negotiations. Chief economic minister Airlangga Hartarto confirmed that Indonesia aims to boost imports from the U.S. after facing hefty tariffs in the past. Additionally, state airline Garuda Indonesia is set to finalize a major Boeing aircraft order. In exchange, Indonesia seeks preferential tariffs on its exports to the U.S., notably in sectors like electronics and textiles.
Source: YAHOO
Reported 1 day ago
As the 90-day tariff pause initiated by President Trump nears its end, global markets face uncertainty over potential tariff changes. Investors remain cautious amid a turbulent three-month period marked by fluctuating policies. While stock markets have seen a recovery since the initial tariff announcement, the U.S. dollar has weakened significantly, and the impact of the ongoing trade talks extends beyond U.S. borders, affecting international trade dynamics, particularly in Europe and Japan. Gold prices have surged as a safe haven amidst these economic challenges.
Source: YAHOO
Reported 1 day ago
As the July 9 deadline for resuming higher tariffs approaches, President Trump will send out letters notifying countries of the tariffs they will face, ranging from 10% to 70%. While focusing on achieving deals with various trade partners like China, Vietnam, and the EU, only a few agreements have been finalized so far. Countries are racing against time to negotiate before potentially facing significant tariffs starting August 1.
Source: YAHOO
Reported 1 day ago
Thailand is revising its trade proposal framework to establish a reciprocal tariff agreement with the US before next week's deadline. Finance Minister Pichai Chunhavajira reported that initial ministerial talks were successful, providing valuable insights from US officials. With a significant tariff threat looming, Thailand aims to create a mutually beneficial and sustainable deal while addressing its trade deficit and improving economic ties with the US.
Source: YAHOO
Reported 1 day ago
The Federal Reserve is expected to cut interest rates in the second half of 2025 as it gains more clarity on the economic impact of tariffs imposed by President Trump. While the Fed has maintained its key interest rate steady amid uncertainties, forecasters predict potential cuts starting as early as September or as late as December. The decision on rates will largely depend on inflation and employment trends influenced by these tariffs.
Source: YAHOO
Reported 1 day ago
Donald Trump's recently passed 'One Big Beautiful Bill' is set to significantly reshape the U.S. economy, affecting tax structures, energy policies, and healthcare provisions. Key changes include permanent tax cuts for individuals and corporations, an end to clean energy tax credits, and substantial cuts to Medicaid funding, potentially leaving millions uninsured. While the bill aims to support business growth and stability, critics worry it will hurt low-income families and undermine investment in clean energy.
Source: YAHOO
Reported 1 day ago
The recent legislation passed by Congress ends federal tax incentives for electric vehicles (EVs) effective September 30. While buyers may miss the $7,500 credit for new and $4,000 for used EVs, experts argue there are still financial benefits to owning an EV, such as lower long-term fuel and maintenance costs. EVs are shown to save drivers significantly over their lifetime, making them a more economical and environmentally friendly choice despite the initial higher purchase price.
Source: YAHOO
Reported 1 day ago
Gas prices are at their lowest level since 2021 as the July Fourth holiday begins, with the national average decreasing to $3.15 per gallon, a $0.36 drop from last year. This price relief is beneficial for the anticipated 61 million travelers this weekend, resulting in an expected $500 million savings on gasoline. While current prices are lower due to a recent ceasefire in the Middle East and decreasing oil costs, future trends remain uncertain with potential fluctuations expected in the coming months.
Source: YAHOO
Reported 1 day ago
The 2025 IPO market reveals a strong trend favoring larger companies, with notable debutants like Circle and CoreWeave experiencing significant stock increases. Over 100 US companies with market caps over $50 million have launched IPOs this year, marking a 42.9% rise from last year. Companies raising substantial capital, such as Figma, are encouraged to pursue public offerings, while the overall market anticipates stronger activity in the upcoming fall season.
Source: YAHOO
Reported 1 day ago
A Chinese adviser emphasized the need for urgent preparations for a potential summit between Presidents Xi Jinping and Donald Trump, stating that time is running out for a fall meeting. The call for quicker action comes as both nations show signs of improving relations after previous tensions, with significant trade agreements already being executed. Wu Xinbo from Fudan University pointed out that a successful meeting would require expanded communication beyond just economic discussions.
Source: YAHOO
Reported 1 day ago
Saudi Aramco is considering selling up to five gas-fired power plants to raise as much as $4 billion, part of an effort to bolster its finances amid declining oil prices and increased pressure from the Saudi government for higher profits. The company, which already accounts for a significant portion of state revenues, is also looking at divesting other assets, including housing compounds and infrastructure, to improve efficiency and manage costs. These potential sales coincide with Saudi Arabia's broader strategy to diversify its economy away from oil dependency.
Source: YAHOO
Reported 1 day ago
Sales of foreign-branded smartphones in China fell by 9.7% year-on-year in May, with shipments dropping to 4.54 million units. Apple's reduced sales, a result of increased competition from local brands and significant discounts on its latest iPhone models, reflect its crucial position in the market. Overall, phone shipments in China fell by 21.8% to 23.72 million units.
Source: YAHOO
Reported 1 day ago
As inflation rates begin to cool, many food companies continue to utilize 'shrinkflation'—reducing the size of product packages while maintaining prices. This practice, which has aggravated consumers for years, may gain traction if tariffs impact costs more significantly. Recent discussions among companies suggest a shift towards smaller packaging options caters to consumer preferences for portion control and reduces waste, despite rising prices making it challenging for companies to justify their pricing strategies.
Source: YAHOO
Reported 1 day ago
President Donald Trump's tax bill has significantly benefited wealthy Americans and business investors, allowing multimillionaires to pass on more wealth tax-free, while increasing the estate tax exemption and maintaining tax breaks for private equity. However, low-income Americans face cuts to Medicaid and food assistance, elite universities see increased tax burdens, and losses include for immigrants due to new taxes on remittances and restricted access to health coverage tax credits.
Source: YAHOO
Reported 1 day ago
General Atlantic is contemplating a potential US initial public offering for the juice and coffee chain Joe & the Juice, possibly valuing the company at around €2 billion. The firm is in discussions with advisers and may select banks for the offering later this year. Joe & the Juice, founded in Copenhagen in 2002, operates 363 stores worldwide, with a majority stake acquired by General Atlantic in 2023.
Source: YAHOO
Reported 1 day ago
The European Central Bank (ECB) has stressed the connection between heat waves and vital economic factors like inflation and GDP growth, as highlighted by Board member Frank Elderson. He noted the significant impact of the extreme heat of summer 2022 on food prices and the German economy. With another heat wave affecting Europe, the ECB is enhancing its focus on climate-related risks in monetary policy to ensure price stability and oversight of significant banks, contrasting with the Federal Reserve's limited approach to climate issues.
Source: YAHOO
Reported 1 day ago
The debate on Wall Street intensifies as short seller Jim Chanos critiques Michael Saylor's strategy of acquiring massive amounts of bitcoin through his company, MicroStrategy. Chanos argues that the company should not be valued higher than the bitcoin it holds, suggesting investors would be better off buying bitcoin directly. Saylor counters that his company's stock is easier to own than bitcoin itself. Meanwhile, the two continue to exchange barbs in interviews, drawing significant attention from investors as Saylor's approach leads to considerable gains despite growing criticism and legal challenges.
Source: YAHOO
Reported 1 day ago
As the tariff deadline set by US President Donald Trump draws near, Asian investors are preparing for potential market turbulence, with many adopting a cautious approach by hedging or reducing equity exposure. While some countries have secured trade agreements, apprehension remains prevalent, especially among investors from Japan and Korea, leading to a mix of anxiety and opportunism in the market as they await clarity on upcoming tariff rates.
Source: YAHOO
Reported 1 day ago
China's commerce ministry announced improvements in US-China trade relations following recent negotiations, urging the US to maintain their agreements and avoid destabilizing the situation. As both countries work towards resolving their trade tensions, China emphasized the importance of mutual benefit in their economic ties, while cautioning against third countries benefiting at China's expense. Amid a 90-day pause on tariffs, both nations are making strides to fulfill commitments related to rare earth exports and technology transfers.
Source: YAHOO
Reported 1 day ago
European shares dipped as investors remained cautious ahead of the July 9 U.S. tariff deadline, with the pan-European STOXX 600 index falling 0.4%. Concerns over trade negotiations, particularly with the European Union, were heightened as Trump announced the impending start of tariffs on imports. Mining and technology stocks suffered notable declines, while Alstom benefited from a significant contract with the New York Metropolitan Transportation Authority.
Source: YAHOO
Reported 1 day ago
Oil futures experienced a slight decline as Iran confirmed its commitment to the nuclear non-proliferation treaty, coinciding with discussions among OPEC+ producers to increase output. Brent crude fell by 49 cents to $68.31 per barrel, and West Texas Intermediate declined by 41 cents to $66.59, influenced by the upcoming U.S. Independence Day holiday. Additionally, the U.S. is preparing to resume nuclear talks with Iran while imposing new sanctions targeting its oil trade.
Source: YAHOO
Reported 1 day ago
Intense competition in China's electric vehicle market is impacting Thailand, with smaller brands like Neta struggling against larger players like BYD. Neta, which had high hopes for local production under government incentives, faces declining sales and financial challenges, raising concerns about Thailand's ambitious EV production goals aimed at reaching 30% by 2030. The pressure from a growing number of Chinese brands, alongside economic uncertainty, has compounded the difficulties in the local automotive market.
Source: YAHOO
Reported 1 day ago
China is showing signs of addressing the ongoing price wars that have been negatively impacting its electric vehicle (EV) industry.
Source: YAHOO
Reported 1 day ago
The Chinese government is taking a stand against the intense competition in the electric car market, indicating that it may be time to impose regulations to stabilize the sector.
Source: YAHOO
Reported 1 day ago
Stocks declined on Friday amid uncertainty regarding trade deals as the deadline set by President Trump nears. Despite a record high for Wall Street, the dollar weakened, and the pan-European STOXX 600 index fell, influenced by potential tariffs on EU brandy imports by China. Analysts suggest a cautious market outlook, particularly in export-heavy regions like Asia, while some economic data remains positive, indicating that the U.S. economy is performing better than expected.
Source: YAHOO