Reported 3 months ago
Gold prices fell, approaching a nearly 2% loss for the week, as traders awaited crucial US economic data on personal consumption expenditures, a key inflation metric for the Federal Reserve. Investors remain concerned about the effects of President Trump's trade policies and renewed tensions with China, which have heightened gold's appeal as a safe haven. Despite the drop, analysts maintain that gold will serve as a hedge against inflation in long-term portfolios.
Source: YAHOO
Reported 3 months ago
Investment for the planned Trump Tower in Vietnam is estimated at $1 billion, with construction of the at least 60-storey skyscraper likely to commence next year, according to informed sources. The Trump Organization, led by Eric Trump, is collaborating with local partners on the project, amidst ongoing trade discussions between Vietnam and the U.S. The tower will be situated in Thu Thiem, Ho Chi Minh City, as plans for the project continue to be finalized.
Source: YAHOO
Reported 3 months ago
Nomura Holdings Inc. is focusing on expanding in the US despite current economic uncertainties, emphasizing significant opportunities in the market. The company plans to enhance its investment management and wholesale banking segments in the Americas and anticipates a 15% to 20% increase in revenue by 2031. Nomura's expansion strategy includes a recent $1.8 billion acquisition, highlighting its commitment to long-term growth in the US market even amidst global trade volatility.
Source: YAHOO
Reported 3 months ago
Oil prices are set for a slight weekly decline as an OPEC+ meeting approaches, which is expected to result in an increase in supply. Despite West Texas Intermediate futures rising slightly above $61 a barrel, analysts caution that the planned increase comes amid weak economic indicators and uncertainty, creating pressure on prices. Recent data also showed a significant decrease in U.S. crude stockpiles.
Source: YAHOO
Reported 3 months ago
Japan's largest LNG importer, JERA Co., is exploring the possibility of purchasing liquefied natural gas from an Alaskan export project supported by U.S. President Donald Trump. This interest precedes a summit aimed at facilitating a tariff agreement with the U.S., as JERA continues to seek long-term contracts for the $44 billion Alaska LNG project, which has faced challenges securing investments over the years.
Source: YAHOO
Reported 3 months ago
A Reuters poll indicates that China's manufacturing activity is expected to contract for a second consecutive month in May, reflecting ongoing trade tensions with the U.S. and EU. Economists predict that the official purchasing managers' index (PMI) will show a slight increase to 49.5, though it remains below the growth threshold of 50. The country's economy, heavily reliant on exports, is at risk from U.S. tariffs and moves from the EU regarding anti-dumping measures, prompting expectations for increased monetary and fiscal stimulus from Beijing to stabilize growth.
Source: YAHOO
Reported 3 months ago
President Trump is holding a rally in Pennsylvania to announce a new investment deal that would allow Japan-based Nippon Steel to partner with U.S. Steel, aiming to keep the American steelmaker under U.S. control. Originally opposed to Nippon's bid, Trump now describes the arrangement as a 'strategic partnership' that would involve significant investments in U.S. Steel facilities. While some politicians support the proposal, doubts remain regarding the specifics of the deal and its implications for U.S. control and jobs in the steel industry.
Source: YAHOO
Reported 3 months ago
A Chinese hedge fund, led by CEO Wang Yiping, capitalized on a market dip in April due to US tariffs, achieving a remarkable 20% increase this year, bringing its total returns to 1,485% since inception a decade ago. Wang’s strategy combined human judgment with computer algorithms, allowing the fund to remain resilient and outperform market indices while managing approximately $1.8 billion.
Source: YAHOO
Reported 3 months ago
Economists are advising the European Central Bank (ECB) to promptly implement two anticipated interest rate cuts in June and September, as delays could signal the end of its easing campaign, potentially unsettling investors. While inflation remains near 2%, analysts warn that macroeconomic uncertainties from US trade policies necessitate careful communication from the ECB. Market expectations suggest further cuts could follow later in the year, but any prolonged pauses could create confusion about the ECB's intentions.
Source: YAHOO
Reported 3 months ago
A senior official from the Reserve Bank of New Zealand stated that the country's interest rates currently fall within a neutral band of 2.5%-3.5%. With past policy easing yet to impact the economy, future interest rate decisions will hinge on economic developments. The RBNZ recently cut rates by 25 basis points to 3.25% but indicated that further cuts will be data-driven, as uncertainties in global trade and a challenging economic environment persist.
Source: YAHOO
Reported 3 months ago
US Treasury Secretary Scott Bessent stated that trade talks with China are currently 'a bit stalled' and emphasized the necessity of a phone call between President Trump and President Xi Jinping to advance negotiations. Following recent high-level talks, he expressed optimism about future discussions but highlighted that the complexity of the issue requires personal engagement from both leaders. Tensions persist amid new US restrictions affecting Chinese technology, while ongoing court decisions challenge Trump's tariff measures.
Source: YAHOO
Reported 3 months ago
Tensions are escalating between the US and China after the Trump administration announced plans to revoke Chinese student visas and impose restrictions on tech exports to China, just weeks following a declared trade truce. This crackdown, perceived as discriminatory by Beijing, underlines deep-seated suspicions in US-China relations, while US lawmakers remain critical of China's influence on American campuses. Previous visa revocations during Trump's first term have raised concerns about the potential repercussions for bilateral ties and the impact on American technological innovation.
Source: YAHOO
Reported 3 months ago
On May 30, Wall Street will focus on the release of April's Personal Consumption Expenditures (PCE) index, the Federal Reserve's key inflation measure, alongside a consumer sentiment report expected to show slight improvement. Economists forecast April PCE to rise by 0.1% and a consumer sentiment reading of 51.5, indicating a recent uptick in consumer confidence, while commentary from San Francisco Fed President Mary Daly will also be closely monitored.
Source: YAHOO
Reported 3 months ago
Source: YAHOO
Reported 3 months ago
In this opinion piece, Rick Newman discusses how former President Trump delegated the ambitious task of reducing federal bureaucracy to Elon Musk, but ultimately failed to support the necessary legislation for real change. Musk's efforts with the DOGE commission have resulted in minimal budget cuts, highlighting the challenges of reforming government structures and Trump's tendency to evade accountability for complex issues. As Musk steps back from DOGE, it becomes clear that Trump's promises of reform were more rhetorical than practical.
Source: YAHOO
Reported 3 months ago
US stocks closed higher with Nvidia's shares rising after strong quarterly results, despite a court's ruling that reinstated President Trump's sweeping tariffs. The market saw volatility as investors processed the news, particularly in light of the mixed outcomes of corporate earnings. While Nvidia's performance was upbeat, the company warned of potential impact from new export restrictions to China. Overall, the market remains cautious as trade tensions evolve and corporate earnings reports vary.
Source: YAHOO
Reported 3 months ago
Source: YAHOO
Reported 3 months ago
Chef Russell Jackson discusses his experiences in financing his restaurants, sharing insights on various funding methods including personal investments, equity partners, and SBA loans. He emphasizes the challenges faced by small business owners, especially in the restaurant industry, and offers advice on perseverance amid adversity while also promoting the significance of community support and mentorship for aspiring entrepreneurs.
Source: YAHOO
Reported 3 months ago
OpenAI is seeking to maintain its countersuit against Elon Musk, arguing that his effort to dismiss their claims lacks factual basis. The countersuit alleges Musk engaged in fraudulent business practices related to a contested $97.4 billion takeover bid. Musk's previous lawsuit accused OpenAI of deviating from its original mission when transitioning to a for-profit model, while OpenAI claims Musk's actions represent a pattern of harassment and aims to quash further unlawful conduct.
Source: YAHOO
Reported 3 months ago
Costco Wholesale reported third-quarter revenue that fell below analyst expectations, prompting the company to adjust its supply chain to mitigate the effects of U.S. tariffs. Unlike larger competitor Walmart, Costco stated that raising prices would be a last resort. Despite challenges from reduced consumer sentiment and rising costs, the company saw an 8% increase in same-store sales and reported quarterly revenue of $61.96 billion, but this was below the anticipated $63.19 billion. Still, Costco's private label products and bulk buying trends contributed to a slight earnings beat.
Source: YAHOO
Reported 3 months ago
Analyst Gil Luria claims that Salesforce has 'overcorrected' by concentrating intensely on artificial intelligence (AI), while its other business areas are rapidly declining. This shift in focus has led to concerns about losing market share to competitors such as HubSpot and Shopify. Luria suggests that Salesforce should redirect its attention to its core business sectors to regain momentum.
Source: YAHOO
Reported 3 months ago
Zscaler has appointed Kevin Rubin as its new Chief Financial Officer, succeeding Remo Canessa, who retired in December. The cloud security company also raised its fiscal 2025 revenue forecast to between $2.659 billion and $2.661 billion, reflecting increased spending by businesses on cybersecurity solutions in response to growing online threats. Zscaler's shares rose nearly 5% following the announcement.
Source: YAHOO
Reported 3 months ago
Source: INVESTORS
Reported 3 months ago
Meyer Burger, the Swiss solar panel manufacturer, has shut down its factory in Goodyear, Arizona, laying off all 282 workers due to financial difficulties. This move poses challenges for the U.S. solar industry’s aim to develop a domestic supply chain and lessen dependency on Chinese imports, especially as Congress considers phasing out clean energy incentives. The company's operations faced stiff competition from cheaper Asian products, leading to earlier cancellations of plans for a second factory in Colorado.
Source: YAHOO
Reported 3 months ago
The White House is considering a strategy to tackle a significant backlog of small refinery requests for exemptions from U.S. biofuel regulations, including potentially approving many outstanding applications and gathering industry feedback on older ones. With over 160 exemption requests pending—which could impact billions in tradable credits—the administration aims to balance the interests of the oil and agricultural sectors while managing the financial ramifications for the biofuel credit market.
Source: YAHOO