Reported 2 months ago
U.S. President Donald Trump has announced plans to double tariffs on steel and aluminium imports to 50%, impacting major trade partners. Approximately 25% of U.S. steel is imported, primarily from Mexico, Canada, Japan, South Korea, and Germany; however, imports from China remain low due to previous tariffs. In contrast, about half of U.S. aluminium is imported, predominantly from Canada, with the UAE and China also being significant sources.
Source: YAHOO
Reported 2 months ago
US stock futures fell as Wall Street opened June following a strong May performance. The S&P 500 and Dow futures were both down 0.5%, while Nasdaq futures dropped 0.7%. Concerns over ongoing trade tensions, particularly between the US and China, contributed to this decline. Investors are now awaiting crucial economic data, including the May nonfarm payrolls report, which may impact market expectations.
Source: YAHOO
Reported 2 months ago
The CEO of Flyadeal, a Saudi budget airline, has expressed strong dissatisfaction with Airbus over ongoing delivery delays of narrow-body jets, which he deems inexcusable. During an IATA summit, Steven Greenway highlighted the lack of transparency and rising anxiety regarding future aircraft deliveries, particularly the newly ordered wide-body A330neos. Despite acknowledging improvements in supply chains, he remains doubtful about meeting expected delivery schedules and emphasized the negative impact of such delays on operational planning.
Source: YAHOO
Reported 2 months ago
Dior has appointed Northern Irish designer Jonathan Anderson as the new creative director for its women’s, men’s, and haute couture collections, succeeding Maria Grazia Chiuri, who held the position for nearly a decade. This change was reported by the Financial Times, although confirmation from Reuters was not immediately available.
Source: YAHOO
Reported 2 months ago
The U.S. dollar has weakened following President Trump's announcement to double tariffs on imported steel and aluminum while tensions with China escalate over mineral shipment accusations. This decline reflects market worries about potential growth constraints and inflation, leading to a 0.3% drop against the yen and fluctuations against other currencies as fiscal uncertainty looms with upcoming Senate discussions on a significant tax cut and spending bill.
Source: YAHOO
Reported 2 months ago
China has criticized the U.S. for its new guidelines on AI chip exports, which include stopping the sale of chip design software to China and planning to revoke student visas for Chinese nationals.
Source: YAHOO
Reported 2 months ago
HSBC, Europe’s largest bank, plans to inject $4 billion into its private credit funds to capitalize on the booming private credit market, aiming to build a $50 billion credit fund within five years. This investment is part of a broader strategy to enhance revenue from higher-return areas as profits from traditional lending decline. HSBC Asset Management's private credit unit, which launched in 2018, has already deployed $7 billion in 150 transactions and intends to focus on global direct lending, particularly in the UK and Asia.
Source: YAHOO
Reported 2 months ago
The head of the International Air Transport Association (IATA) has expressed concerns over increasing trade barriers and delivery delays in the airline industry that could harm economic growth. During their annual meeting, IATA downgraded its profit forecasts for 2025, emphasizing how recent tariffs and declining consumer confidence have affected travel plans. While air travel sees a post-pandemic surge, extended delays in aircraft deliveries hinder growth, prompting calls for manufacturers to address the issues collaboratively.
Source: YAHOO
Reported 2 months ago
Asian shares fell sharply as escalating geopolitical tensions from the Russia-Ukraine conflict and trade issues between the U.S. and China contributed to a rise in oil prices. Significant losses were observed in the Hong Kong and Tokyo markets, while U.S. benchmarks showed mixed results. Negotiations over tariffs and factory activity in China added to market concerns, further impacting investor sentiment.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Global airlines have revised their 2025 profit forecast downward, expecting a combined profit of $36 billion due to trade tensions, decreased consumer confidence, and unacceptable delays in jetliner deliveries. The International Air Transport Association (IATA) reported that, while profits are projected to rise from last year's $32.4 billion, challenges such as aircraft delivery delays and rising operational costs pose risks to future profitability. The forecasts indicate that industry-wide revenues will also be impacted, highlighting the broader economic implications.
Source: YAHOO
Reported 2 months ago
At the Sohn investment conference in Hong Kong, hedge funds highlighted diverse top picks including Chinese self-driving taxis and Indian pharmaceutical companies, signaling a strategy to mitigate tariff risks and market instability. Among notable mentions, Flight Deck Capital expressed optimism in Baidu's autonomous vehicle business, while Arisaig Partners favored MedPlus Health Services in India's growing consumer healthcare sector. The event also featured sectors like security and activism, with funds targeting nuclear energy and shareholder engagement in various firms.
Source: YAHOO
Reported 2 months ago
Oil prices saw a significant rebound as OPEC+ confirmed a planned output increase of 411,000 barrels per day for July, mirroring previous months' adjustments, which alleviated concerns about a larger hike. Brent crude rose by 2.33% to $64.24 per barrel, while U.S. West Texas Intermediate increased by 2.73% to $62.45 per barrel. Analysts suggest that this consistency in output is aimed at managing overproduction among certain OPEC members and that further increases are expected in August amid tight supply and rising demand.
Source: YAHOO
Reported 2 months ago
The European Central Bank (ECB) is expected to cut interest rates for the eighth time on Thursday as the economy performs better than expected despite ongoing inflation concerns and U.S. tariff uncertainties. Economists predict a quarter-point reduction to 2%, with a pause likely in July. The ECB faces challenges from trade tensions, and while forecasts may show slight downward revisions in inflation estimates, the resilience of the eurozone's economy will be a crucial consideration in its approach to policy moving forward.
Source: YAHOO
Reported 2 months ago
Asian share markets and the dollar fell on Monday as U.S.-China trade tensions heightened with President Trump's tariff threats. Investors adopted a cautious approach ahead of crucial U.S. jobs data and potential European interest rate cuts. Most Asian stocks dropped, with the MSCI Asia-Pacific index down 0.8%, while economic forecasts were impacted by fears of a recession due to rising tariffs. The dollar weakened against major currencies, reflecting negative sentiment and uncertainty in trade policies.
Source: YAHOO
Reported 2 months ago
Japan plans a minister-level meeting to address rising rice prices, as announced by Prime Minister Shigeru Ishiba. With prices more than doubled over the past year, the government has released 300,000 metric tons of rice from stockpiles to stabilize the market ahead of an upcoming election. Retailers are starting to sell this stockpiled rice at significantly lower prices than current market averages, as the government seeks to ease inflation concerns among households.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
In the first quarter of 2025, Japan's capital spending surged to a record 18.8 trillion yen, a 6.4% increase from the previous year, driven mainly by domestic-focused industries. However, key export sectors showed reduced investment due to concerns over U.S. tariffs, with spending in the automotive and factory equipment sectors declining. The overall investment landscape remains mixed, reflecting a potential slowdown in economic growth influenced by trade tensions.
Source: YAHOO
Reported 2 months ago
Citigroup announced the appointment of Wenjie Zhang as its new country officer and banking head for China, succeeding Luke Lu. Zhang, who brings 30 years of experience from prominent positions at Bank of America and HSBC, will lead Citi's operations in mainland China, focusing on regulatory relationships and risk controls. His role is set to begin in July, pending regulatory approvals.
Source: YAHOO
Reported 2 months ago
在特朗普总统计划将钢铁和铝关税提高到50%后，美国钢铁股份成为投资者关注的焦点。股票在上个月已突破对称三角形，并且相对强弱指数已进入超买区。预计向上目标为59.75美元，关键支撑位在46美元、43美元和36美元。此次关税提高旨在保护美国钢铁工人，但也受到批评认为将增加国内制造业成本。
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Shares of BlueScope Steel, an Australian steel producer, surged to a three-month high after U.S. President Donald Trump announced plans to double tariffs on imported steel and aluminum to 50%. This move is seen as potentially beneficial for BlueScope, especially in the U.S. market, although the company has faced challenges from weak iron ore prices and uncertainty in demand from China.
Source: YAHOO
Reported 2 months ago
Jim Cramer and Wall Street are closely monitoring DraftKings Inc. (NASDAQ:DKNG) as they discuss its potential for recovery amidst a stalled stock performance. Cramer appreciates the company but suggests it may need more states to legalize sports betting to thrive. Morgan Stanley has recently reduced its price target for DraftKings while still maintaining an Overweight rating, reflecting cautious optimism in the gaming sector.
Source: YAHOO
Reported 2 months ago
Australian job advertisements have decreased for the second consecutive month in May, indicating a potential easing of the tight labor market, although they remain significantly above pre-pandemic levels. According to ANZ-Indeed data, job ads fell by 1.2% in May compared to April and were down 5.7% year-on-year, but still 13.6% higher than pre-pandemic figures. ANZ economist Aaron Luk noted this is the lowest level of job ads since March 2021, despite the labor market remaining tight with strong employment growth and a stable unemployment rate.
Source: YAHOO
Reported 2 months ago
Source: WSJ