Reported 5 days 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 5 days 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
Reported 5 days ago
India's Securities and Exchange Board has temporarily banned Jane Street Group from its securities market over allegations of index manipulation, which reportedly resulted in $4.3 billion in gains for the firm. This ruling, which includes the seizure of $570 million in alleged unlawful profits, marks a notable action against a foreign entity in India's rapidly growing derivatives market. Jane Street disputes the regulator's findings and plans to contest the order.
Source: YAHOO
Reported 5 days ago
Murree Brewery, Pakistan's oldest and largest producer of alcoholic drinks, is shifting its focus towards non-alcoholic beverages in response to government restrictions on alcohol sales and a competitive non-alcoholic market. Despite its long history, the brewery faces challenges due to high taxes and limited advertising options. With a large youthful population and growing demand for drinks like energy beverages and juices, brewery chairman Isphanyar Bandhara aims to expand this segment, positioning it as a more secure and profitable market.
Source: YAHOO
Reported 5 days ago
Jim Cramer commented on Microsoft's performance during a recent discussion, noting that the company generally doesn't miss its targets more than once. He highlighted a recent miss in Azure's growth estimates, where it grew 31% but fell short of expectations at 31.9%. Despite this setback, Cramer emphasized Microsoft's strong position in the market due to its business software and cloud services.
Source: YAHOO
Reported 5 days ago
India has restricted Jane Street, a major quant trading firm, from its securities market due to allegations of 'unlawful gains' during trading, making it the most severe action against a foreign firm. The market regulator also seized $567 million from the company, which disputes the claims. Jane Street, established in 2000 with over 3,000 employees, is known for using advanced quantitative analysis in trading. The firm operates in India through multiple entities and made significant profits from equity options trading, but its activities have drawn scrutiny for potential market manipulation.
Source: YAHOO
Reported 5 days ago
Australia's Goodman Group has announced a $2.7 billion investment consortium with global pension funds and investors to develop data centre businesses in Hong Kong. Partnering with PGGM, APG, the Canada Pension Plan Investment Board, and CBRE, Goodman will hold a 20% stake in the venture, which includes four existing data centres and two under development. With approximately 30% of Hong Kong's data centre market by power capacity, Goodman aims to expand its industrial property portfolio into data centres as demand increases, especially from China.
Source: YAHOO
Reported 5 days ago
President Trump is set to send out letters notifying trading partners of new tariffs ranging from 10% to 70% effective August 1, as negotiations reach critical points with various countries. Trump emphasized a preference for straightforward contracts over complex negotiations and reiterated his ultimatum for nations to reach agreements by July 9 to avoid these increased tariffs. Stock markets reacted negatively amid concerns about the impact of these tariffs on inflation and the broader US economy.
Source: YAHOO
Reported 5 days ago
Alstom has landed a €2 billion ($2.4 billion) order from the New York Metropolitan Transportation Authority (MTA) to provide 316 M-9A railcars for the Long Island Rail Road and Metro-North Railroad. The contract, announced in June, will see the first pilot cars delivered by 2029 and all cars expected by 2032, supporting MTA's broader plan to purchase nearly 2,000 railcars as part of a $10.9 billion capital plan. Analysts predict a strong financial performance for Alstom in the upcoming quarter.
Source: YAHOO
Reported 5 days ago
The Chinese government is responding to the intense price competition in its electric vehicle market, which has led to concerns about oversupply and unsustainable practices among manufacturers. Leading automaker BYD recently faced criticism for significant price cuts, prompting industry officials to urge for fair competition and strategic development. In a bid to stabilize the market and avoid an 'Evergrande-like' situation, the government has encouraged quicker payment terms for suppliers, aiming to reduce financial pressure and curb the ongoing price wars affecting many companies.
Source: YAHOO
Reported 5 days ago
The cancellation of the tax-free exemption for low-value goods from China has led to a significant decline in air cargo shipments to the US, with a 10.7% drop in May year-over-year. This change, which imposes tariffs as high as 145% on e-commerce shipments, caused a 43% decrease in these low-value air shipments in May alone. Businesses are now shifting focus to markets like Europe and Southeast Asia as they navigate the evolving US trade policies.
Source: YAHOO
Reported 5 days ago
Gold prices have increased, heading for a 2% weekly gain, following President Trump's announcement that certain US trading partners will face tariffs starting August 1. As gold rose to around $3,340 an ounce, concerns over a potential trade war and its economic effects fueled demand for safe-haven assets. Investors are also evaluating the Federal Reserve's interest rate trajectory in light of recent stronger-than-expected payroll figures.
Source: YAHOO
Reported 5 days ago
The US has lifted restrictions on chip design software exports to China following a recent trade agreement aimed at reducing tensions between the two countries. Major companies like Synopsys, Cadence, and Siemens have confirmed the export curbs, which were enacted in May as retaliation for China's trade policies, have been rescinded. This agreement also involves the US easing export controls on ethane and jet engines in exchange for China's commitment to expedite rare earth exports to the US. The move marks a significant step in the efforts to stabilize economic relations amid ongoing trade disputes.
Source: YAHOO
Reported 5 days ago
Alibaba Group Holding Ltd. has successfully raised HK$12 billion ($1.5 billion) by issuing exchangeable bonds linked to its subsidiary, Alibaba Health Information Technology Ltd. The bonds, due in 2032, feature a zero coupon and an initial exchange price of HK$6.23, offering a 48% premium over the recent share placement. The funds will be allocated towards enhancing Alibaba's cloud infrastructure and international trade efforts. This move is part of a growing trend among Chinese tech firms to utilize exchangeable bonds amid market volatility.
Source: YAHOO
Reported 5 days ago
The Ninety One Global Strategy Fund has increased its investment in Samsung Electronics, predicting a rebound in its stock amidst a strong performance from the Korean equity market. Co-manager Charlie Linton believes Samsung has been undervalued compared to competitors like SK Hynix, especially in the high-bandwidth memory chip market. With Korea's Kospi Index soaring nearly 30% this year, the fund's positive outlook highlights Samsung's potential for growth as it prepares to launch its next-generation DRAM chip.
Source: YAHOO
Reported 5 days ago
Slate Auto, an electric vehicle startup supported by Jeff Bezos, has dropped its pricing claim of 'under $20,000' for its upcoming electric pickup truck after the Trump administration's tax cut bill led to the end of the federal EV tax credit. Initially relying on the $7,500 credit to meet its pricing goal, the company now faces uncertainty about the actual starting price of its vehicle, which is expected to begin production in 2026. The change could hinder Slate's mission to offer an affordable electric vehicle in a market where vehicle prices have escalated.
Source: YAHOO
Reported 5 days ago
The child tax credit will rise from $2,000 to $2,200 per child in President Trump's tax bill, marking a 10% increase. However, due to existing income restrictions, millions of low-income families, including those with undocumented parents, will not benefit from this change. Many families earning below $2,500 annually are excluded from the refundable portion of the credit, leaving an estimated 17 million children without access to the full benefits, despite previous broader access during the pandemic.
Source: YAHOO
Reported 5 days ago
The recent tax bill has made small adjustments to Health Savings Accounts (HSAs), allowing funds to be used for concierge care services and broader insurance plan eligibility. Starting January 2, 2026, individuals can use HSA funds for Direct Primary Care fees under certain conditions and have more insurance plans classified as HSA-qualified. Additionally, HSA holders will be able to use their funds for telehealth services without needing to meet high deductibles first, enhancing their access to medical care.
Source: YAHOO
Reported 5 days ago
President Trump's recent domestic policy bill offers a temporary $6,000 tax deduction for seniors aged 65 and older, set to benefit primarily upper-middle-class retirees. The deduction, which is $12,000 for couples, phases out for individuals earning over $75,000. While this measure potentially aids middle-income retirees in lowering tax liabilities, it largely excludes lower and higher-income seniors. Importantly, the deduction does not equate to a tax cut for Social Security benefits and could expedite Social Security and Medicare's insolvency timeline.
Source: YAHOO
Reported 5 days ago
The House of Representatives has passed Donald Trump's 'Big, Beautiful Bill' with a narrow vote of 218-214, sending it to the president for signature. After intense debate and concessions to Republican holdouts, the bill encompasses significant changes to taxes, energy, and healthcare, projected to impact the U.S. economy for years. The bill's provisions could lead to millions losing insurance, amid criticisms from Democrats and divisions within the Republican Party regarding its fiscal implications.
Source: YAHOO
Reported 5 days ago
Recent amendments to President Trump's significant legislative bill have significantly raised its cost by over $1 trillion. Key changes included making business tax credits permanent and scrapping the proposed 'revenge tax' on multinational corporations. These adjustments are celebrated by the business community for fostering economic growth while also responsible for the hefty price increase, as accounting for corporate tax credits switched from temporary to permanent, boosting overall costs. The bill has garnered bipartisan support but faces criticism over its financial implications.
Source: YAHOO
Reported 5 days ago
The Trump tax bill significantly alters 529 education savings plans, enabling parents to withdraw up to $20,000 annually for K-12 expenses, including non-tuition costs like tutoring and educational therapies. This expansion is aimed at benefiting families with various educational needs, but critics note that access may still be limited for lower-income households and primarily serves those in higher tax brackets. Additionally, a new investment option called 'Trump accounts' is introduced for children, emphasizing the continued relevance of 529 plans for educational savings.
Source: YAHOO
Reported 5 days ago
As midyear approaches, President Trump boasts notable achievements in his economic agenda, including the passage of his tax-cut bill that aims to continue individual tax cuts and reduce specific taxes. While job creation exceeded expectations and the stock market reached new highs, concerns arise about the sustainability of these gains amid increasing national debt and signs of a slowing economy. Critics point to provisions that could negatively impact lower-income individuals and the potential long-term costs of the new tax policies.
Source: YAHOO
Reported 5 days ago
Source: YAHOO
Reported 5 days ago
The House of Representatives has approved President Trump's substantial tax bill, projected by the Congressional Budget Office to increase the national debt by $3.3 trillion. The legislation makes the majority of tax cuts from 2017 permanent and imposes cuts on Medicaid. Despite a lengthy attack on the bill by House Minority Leader Hakeem Jeffries, the bill is expected to be signed by the President on July 4.
Source: YAHOO