Reported 5 days ago
BlackRock's bid for control of two significant ports near the Panama Canal faces potential delays as Panama conducts an audit on a 25-year concession previously granted to CK Hutchison. This scrutiny arises amid increasing criticism from China, where antitrust reviews are underway. The Panamanian government seeks comprehensive details on the deal, which, if found irregular, could jeopardize the agreement and lead to international arbitration.
Source: YAHOO
Reported 5 days ago
European stock futures saw a significant decline of over 2% after U.S. President Donald Trump announced new tariffs on trading partners, escalating a global trade war that raises concerns over inflation and economic growth.
Source: YAHOO
Reported 5 days ago
Switzerland's leading business organization, Economiesuisse, condemned U.S. President Trump's newly imposed 31% tariffs on Swiss imports as harmful and ungrounded, especially as Switzerland has already eliminated industrial tariffs. The Swiss government emphasized the need to respect international law and free trade, noting that the tariffs create a significant burden for its export industry. Despite the tariffs, Economiesuisse highlighted that trade is nearly balanced when including services and mentioned that pharmaceutical exports remain unaffected.
Source: YAHOO
Reported 5 days ago
Polish fashion retailer LPP announced plans to open approximately 1,600 new stores in 2025, aiming for double-digit growth in online sales and substantial overall revenue increases. Despite the ambitious expansion, which primarily focuses on the Sinsay brand, LPP's shares dropped over 6% after a disappointing 7% decline in net profit for Q4 2024, raising concerns about the feasibility of their growth targets.
Source: YAHOO
Reported 5 days ago
India's $32 billion gems and jewellery industry faces a significant decline in exports due to a new 26% tariff imposed by the US, its largest market, which accounts for about 30.4% of India's jewellery exports. Industry leaders express concern over the severe impact on overseas sales, especially following a recent dip in demand from China. While hopes remain for a potential trade deal between India and the US, the sector is bracing for tough times ahead.
Source: YAHOO
Reported 5 days ago
Mitsubishi Corp is exploring potential investments in an Alaskan LNG project, with CEO Katsuya Nakanishi emphasizing the need for thorough due diligence. Alongside this, the company announced plans to invest 4 trillion yen ($27 billion) over the next three years to drive growth, aiming for a net profit of 1.2 trillion yen by 2027/2028. Mitsubishi will focus on sustainable capital expenditure and growth investments, while also maintaining a progressive dividend policy and share buybacks.
Source: YAHOO
Reported 6 days ago
French President Emmanuel Macron will gather with representatives from various business sectors affected by new import tariffs imposed by U.S. President Donald Trump. The tariffs, which include a minimum 10% rate on most goods and 20% for the European Union, are expected to significantly impact sales of French wine and spirits in the U.S., potentially reducing them by at least 20%.
Source: YAHOO
Reported 6 days ago
European Commission President Ursula von der Leyen condemned the recent tariffs imposed by the US as detrimental to the global economy, announcing that the EU is ready to implement countermeasures, including a proposed tariff package on up to 26 billion euros of US goods, if negotiations with the US do not succeed. The EU aims to protect its interests and will consider a broader range of goods and services for future actions while seeking to avoid a full-scale trade war.
Source: YAHOO
Reported 6 days ago
China has urged the United States to promptly remove new tariffs imposed by President Trump, which target various trading partners, stating it will take countermeasures to protect its interests. The Chinese commerce ministry criticized the US for disregarding global trade agreements and highlighted that the escalating tariffs could exacerbate the current trade war. Despite the setbacks, China intends to bolster domestic demand and seeks to maintain a growth target of around 5% amid these challenges.
Source: YAHOO
Reported 6 days ago
The IMF reports that Japan is on track to sustainably meet the central bank's 2% inflation target due to strong consumption and capital investment. After years of low inflation, the economy is expected to stabilize around this target, despite some downside risks from global economic slowdowns and domestic consumption challenges. The IMF forecasts a 1.2% economic growth in 2025, with inflation projected to ease slightly from last year's 2.7%.
Source: YAHOO
Reported 6 days ago
US stock futures plummeted following President Trump's announcement of a 10% universal tariff on all trading partners, with particular impacts on companies with heavy Chinese exposure. The Dow dropped 1,000 points, leading to significant declines in tech stocks like Apple and Nvidia, as concerns about supply chain disruptions mounted. Analysts predict increased uncertainty for the economy as the full implications of these tariffs unfold.
Source: YAHOO
Reported 6 days ago
Volkswagen is set to implement an 'import fee' on vehicles impacted by the 25% tariffs imposed by the U.S. government. The German automaker has paused rail shipments from Mexico and will delay shipments arriving by ship from Europe, according to a recent report. The company plans to reveal more details on pricing by mid-April and aims to distribute the affected vehicles to dealers by the end of the month.
Source: YAHOO
Reported 6 days ago
President Trump has announced a 10% baseline tariff on all imports and increased rates on countries with trade surpluses with the U.S., fulfilling a campaign promise to reduce trade imbalances. Economists worry that these tariffs could lead to increased prices for consumers, as businesses may pass on costs, while some retailers might take advantage to raise prices unnecessarily. The tariffs, which are aimed at balancing international trade practices, are collected as taxes and contribute to the federal budget, where Congress decides their allocation.
Source: YAHOO
Reported 6 days ago
In a rare move, the US Senate has passed a Democratic resolution opposing President Trump's tariffs on Canada, with a vote of 51-48, marking the first significant public dissent from Republican lawmakers regarding Trump's trade policies. While four Republican senators joined Democrats in support, Trump has vowed to veto the resolution, indicating his firm stance on maintaining tariffs. The vote reflects growing unease among lawmakers over the potential economic impact of these tariffs on vital industries, particularly in agriculture, as well as concerns over consumer confidence amid rising inflation.
Source: YAHOO
Reported 6 days ago
President Trump has revealed a sweeping set of import tariffs, significantly increasing taxes on goods from multiple countries, marking the largest tax hike on Americans since the 1940s. Among these measures, a new universal 10% tariff and reciprocal tariffs that could push rates on some imports from China to 34% and from Europe to 20% have raised concerns about increased consumer costs and potential economic recession. Economists now predict a possible stall in US growth, as the extensive tariff changes are expected to affect both domestic pricing and international trade relationships.
Source: YAHOO
Reported 6 days ago
On April 2, 2025, President Trump unveiled a plan to implement reciprocal tariffs affecting 185 countries, with rates ranging from a 10% baseline to significantly higher tariffs for major trading partners like China (34%), the EU (20%), Vietnam (46%), Taiwan (32%), and India (26%). The new tariffs, set to begin on April 9, could increase the average tariff rate to 29%, the highest in over a century, impacting U.S. markets and major companies like Apple. Smaller nations will also face the baseline tariff, highlighting the broad scope of this aggressive trade policy.
Source: YAHOO
Reported 6 days ago
President Trump announced a new tariff policy dubbed 'Liberation Day', imposing a baseline 10% tariff on all US trade partners, with higher rates for countries deemed as bad actors. This includes tariffs of up to 50% for some nations and the introduction of 25% tariffs on foreign-made automobiles. The move marks the escalation of an ongoing trade war and raises concerns about economic repercussions, particularly in the tech sector, where stocks faced significant declines following the announcement.
Source: YAHOO
Reported 6 days ago
Retail stocks, including those of Walmart, Target, and Nike, dropped in response to President Trump's announcement of new tariffs, which will impose a baseline of 10% on imports and higher rates on 60 countries, significantly affecting margins and retail strategies. Analysts warn that these tariffs could lead to increased consumer prices and reduced profit forecasts. Companies are scrambling to adapt, but the risks of passing costs to customers and the impact on retail sales growth persist amid growing consumer caution.
Source: YAHOO
Reported 6 days ago
Donald Trump announced a new tariff strategy at the White House, imposing a baseline tariff of 10% on various countries, effective April 5, with additional penalties for top offenders to follow on April 9. This dramatic move, which could raise the average tariff rate to 29%, marks a culmination of his decades-long focus on trade fairness. The approach includes addressing non-tariff barriers, and while some countries may face retaliatory measures, Trump urged them to lower their own tariffs in response.
Source: YAHOO
Reported 6 days ago
After President Trump's announcement of reciprocal tariffs on semiconductor imports, stocks of Nvidia, TSMC and other chip manufacturers experienced significant declines. Nvidia shares dropped by 4.7% and TSMC fell by 4.8%, as tariffs could raise prices on AI server purchases and impact demand for advanced chips. The tariffs include up to 34% on imports from China and 32% from Taiwan, affecting major exporters of computer parts and servers equipped with Nvidia GPUs.
Source: YAHOO
Reported 6 days ago
Apple Inc. is significantly impacted by new tariffs imposed by President Trump, leading to a sharp decline in its stock price. The tariffs, which include a 34% tax on Chinese imports, are set to take effect on April 9 and also affect Apple’s manufacturing in other countries like India, Vietnam, Malaysia, Thailand, and Ireland. Analysts are concerned that these levies may squeeze Apple's profit margins without a corresponding price increase, especially amid declining consumer sentiment.
Source: YAHOO
Reported 6 days ago
Wall Street experienced a sharp decline in stock prices following President Trump's unexpected announcement of steep reciprocal tariffs on various trading partners, with tariffs on Chinese imports reaching 34% and those from the EU at 20%. Market analysts expressed that the tariffs were more severe than anticipated, raising concerns about a potential recession. Major tech stocks saw significant drops, and analysts are wary of how long these tariffs will remain in place and their possible repercussions in international trade.
Source: YAHOO
Reported 6 days ago
Oracle Corp. has informed clients of a recent hacking incident where an attacker accessed old client log-in credentials, marking the second breach reported in less than a month. The stolen data, which includes usernames and encrypted passwords, was taken from a legacy system that has not been in use for eight years, posing a limited threat according to the company. The investigation is being conducted by the FBI and cybersecurity firm CrowdStrike.
Source: YAHOO
Reported 6 days ago
President Donald Trump's announcement of a baseline 10% tariff on all imports, along with significantly higher country-specific reciprocal tariffs, has raised alarms about the potential negative impact on the markets. Analysts highlight that the new 34% tariff on imports from China, in particular, is drastically higher than previous rates, which could disrupt trade relationships and economic stability.
Source: YAHOO
Reported 6 days ago
Senate Republicans have introduced a budget plan to expedite the renewal of President Trump's tax cuts and raise the nation's debt limit, ahead of a vote later this week. The proposal includes a $4 trillion extension of tax cuts and an additional $1.5 trillion in reductions, with the debt ceiling potentially increasing by up to $5 trillion. While the plan has Trump's backing, Democrats criticize it for favoring the wealthy and threatening social welfare programs. The Senate is preparing for a vote, with key negotiations on spending cuts still to come.
Source: YAHOO