Reported 4 months ago
India is contemplating imposing import duties on certain U.S. products as a retaliatory measure against U.S. tariffs on steel and aluminum, as indicated in a recent World Trade Organization document. The U.S. had previously imposed a 25% levy on these metals, affecting Indian exports valued at $7.6 billion. As part of ongoing trade negotiations, India aims to reduce its tariff gap with the U.S. while also enforcing its tariffs on cheap steel imports.
Source: YAHOO
Reported 4 months ago
Source: WSJ
Reported 4 months ago
Source: BARRONS
Reported 4 months ago
CATL, the battery giant, is set to conduct the world's largest listing in 2025, offering banks underwriting fees significantly lower than industry standards, with fixed commissions at just 0.2% of proceeds. This move highlights the tough conditions for investment banks in Hong Kong, where a recent upswing in trading may signal a recovery in large issuances despite a multi-year deal slump. The competitive bid for underwriting roles has led banks to accept slimmer margins in hope of future opportunities.
Source: YAHOO
Reported 4 months ago
Nissan Motor has announced it will temporarily suspend operations at certain domestic plants as part of a restructuring plan, according to a report by Nikkei. The exact factories affected and the nature of their closures are yet to be determined. In addition to this, Nissan plans to cut over 10,000 jobs worldwide, raising total layoffs to about 20,000, which is 15% of its workforce. The automaker anticipates a significant financial loss, projecting a net loss of up to 750 billion yen for the past business year.
Source: YAHOO
Reported 4 months ago
Understanding whether you are liable for your spouse’s credit card debt depends on your state’s laws, your relationship to the card account, and situations such as divorce or death. In common law states, typically only joint account holders or co-signers can be held accountable, while in community property states, both spouses may share liability for debts incurred during marriage. It's essential to discuss finances openly with your partner and consider legal frameworks like prenuptial agreements to protect yourself.
Source: YAHOO
Reported 4 months ago
The European Central Bank (ECB) plans to maintain its aggressive stimulus strategies from the past decade during its ongoing strategy review, despite high inflation and recent financial losses prompting calls for self-criticism. Policymakers are showing support for previous measures such as quantitative easing, with only minor expected adjustments to the strategy document, last updated four years ago. Although some governors desired a more critical evaluation, the review is set to affirm the need for forceful actions in future economic challenges while addressing the complexities of interest rate guidance.
Source: YAHOO
Reported 4 months ago
Goldman Sachs has raised its three-month target for the S&P 500 to 5,900, reflecting optimism over reducing trade tensions between the US and China, despite ongoing economic uncertainties. They foresee a potential rise to 6,500 in the next 12 months, driven by improved expectations for Big Tech stocks, although caution remains due to concerns about profit margins and market pricing. UBS has also downgraded US stocks to neutral, indicating a more balanced risk-reward outlook for investors.
Source: YAHOO
Reported 4 months ago
A summary of the Bank of Japan's recent policy meeting indicates that some board members believe there is potential to resume interest rate hikes after a pause, depending on the stabilization of U.S. tariffs. Despite concerns about U.S. tariffs impacting Japan's economy, some members noted that these issues might not derail the BOJ's goal of achieving a 2% inflation target. The bank maintained steady interest rates at 0.5%, cutting growth forecasts due to uncertainties, while noting that economic conditions could change rapidly based on developments in U.S. trade policy.
Source: YAHOO
Reported 4 months ago
The dollar maintained its strong position on Tuesday after a tariff reduction deal was reached between the United States and China, alleviating fears of a global recession tied to the trade war. Investors responded positively, leading to a rally in global markets. The dollar surged against major currencies like the yen and euro, as traders adjusted their expectations regarding the Federal Reserve's monetary policy amid decreased trade tensions.
Source: YAHOO
Reported 4 months ago
Consumer sentiment in Australia showed a partial recovery in May as the initial impact of U.S. tariffs diminished, aided by a recent truce with China. According to a Westpac-Melbourne Institute survey, the consumer sentiment index rose by 2.2% in May, recovering from a sharp decline in April. The index remains 12% higher than last year, though pessimists still outnumber optimists. Sentiment among Labor voters increased significantly after their election victory, while confidence among Liberal National supporters dropped slightly. Overall, people's optimism about their finances and willingness to purchase big-ticket items improved.
Source: YAHOO
Reported 4 months ago
House Republicans have introduced a plan to eliminate the electric vehicle (EV) tax credit and repeal fuel efficiency regulations as part of a tax reform initiative. The proposal would end a $7,500 credit for new vehicles and a $4,000 credit for used vehicles by the end of the year, although some automakers could retain benefits for an additional year. Critics warn this move could disadvantage U.S. manufacturers against international competitors, particularly in the EV sector. Further, the plan also seeks to terminate a loan program supporting advanced technology vehicle manufacturing.
Source: YAHOO
Reported 4 months ago
Oil prices saw a slight increase after a pause in tariffs between the U.S. and China, but gains were limited by rising supply. Brent crude rose 1% to $65.61, while West Texas Intermediate climbed 1.2% to $62.67. Analysts caution that increased OPEC+ output and stable Saudi oil supplies may cap further price rises, despite strong demand for refined fuels.
Source: YAHOO
Reported 4 months ago
BDx Data Centers has obtained project financing from Clifford Capital, United Overseas Bank, and Sumitomo Mitsui Banking Corporation for its first hyperscale data centre in Hong Kong. This marks BDx's entrance into the Hong Kong market and follows previous financing efforts in Singapore and Indonesia. The funds will support the development and operations of the new facility in Kwai Chung, amidst growing investor interest in data centres across Asia driven by AI and cloud computing demands.
Source: YAHOO
Reported 4 months ago
Samsung has launched its ultrathin Galaxy S25 Edge smartphone for preorder at $1,099, ahead of Apple's anticipated 'iPhone Air.' With a thickness of just 5.8 millimeters and a 6.7-inch AMOLED display, the S25 Edge is designed to be both lighter and thinner than current models from both companies. It features a Qualcomm Snapdragon 8 Elite processor, 12GB of RAM, and offers a 200MP main camera along with a 12MP ultra-wide lens. The S25 Edge is set to go on sale on May 30.
Source: YAHOO
Reported 4 months ago
AMC Theatres will offer a 50% discount on adult movie tickets for AMC Stubs members every Wednesday starting July 9, 2025. This initiative comes as a response to recent declines in attendance and aims to boost midweek moviegoing, especially with anticipated summer releases like 'Superman' and 'Jurassic World Rebirth.' AMC has seen a resurgence in box office figures, and while the discount applies to standard tickets, it may exclude certain movies and holidays.
Source: YAHOO
Reported 4 months ago
Elliott Investment Management achieved a crucial victory in its proxy battle with Phillips 66 as Institutional Shareholder Services (ISS) endorsed all four of its director nominees. The firm, holding a $2.5 billion stake in Phillips 66, is advocating for strategic changes, including the potential sale of its midstream operations and a refreshed board. With ISS's support, along with a recommendation from Glass Lewis for three out of four nominees, Elliott is gaining momentum in what is considered one of the year's fiercest proxy contests.
Source: YAHOO
Reported 4 months ago
Brazilian cosmetics manufacturer Natura reported a net loss of 150.7 million reais ($26.6 million) in the first quarter, representing an 83.9% reduction compared to the same period last year. The company's core earnings, measured by EBITDA, increased by approximately 30% year-on-year to 789.5 million reais, surpassing analysts' expectations.
Source: YAHOO
Reported 4 months ago
Coinbase Global's stock surged after-hours following the announcement that it will replace Discover in the S&P 500 index, marking the first time a crypto company has been included. The stock rose by about 4% during regular trading and jumped more than 9% in after-hours, reflecting investor optimism. Coinbase expressed gratitude for achieving this historic milestone for the cryptocurrency sector.
Source: YAHOO
Reported 4 months ago
US stock futures remained unchanged following a strong market response to a temporary trade agreement between the US and China, which significantly reduces tariffs for the next 90 days. The agreement lowers US tariffs on Chinese imports from 145% to 30% and Chinese tariffs on US goods from 125% to 10%. Investors are awaiting the upcoming Consumer Price Index report, which may shed light on the impact of these tariffs on inflation.
Source: YAHOO
Reported 4 months ago
China's leading e-commerce companies, Alibaba and JD.com, are intensifying their competition by investing heavily in fast delivery services, aiming for delivery times between 30 to 60 minutes. Both companies have committed billions in subsidies to attract consumers amidst a challenging market where growth opportunities are limited. As the food delivery market heats up, these investments reflect a strategy to entice cost-conscious consumers and expand their reach into instant retail, leveraging existing logistics to avoid costly infrastructure build-outs.
Source: YAHOO
Reported 4 months ago
On May 13, notable market events include earnings reports from JD.com, Tencent Music Entertainment, and Oklo, alongside the release of April's Consumer Price Index (CPI) data, which is expected to rise by 0.3%. Additionally, the NFIB Small Business Optimism index is anticipated to decrease to 95, although the easing of US-China trade tensions may provide some relief for small businesses.
Source: YAHOO
Reported 4 months ago
Google is gearing up for its annual developer conference with reports of an AI agent designed to assist software engineers in various stages of development, including task response and code documentation. Additionally, the company may showcase the integration of its Gemini AI chatbot with Android XR devices. This development comes as Google faces pressure from investors to demonstrate returns on its AI investments amidst intensifying competition and regulatory scrutiny.
Source: YAHOO
Reported 4 months ago
Amazon has enlisted FedEx for handling some large package residential deliveries after UPS announced a reduction in services for the e-commerce giant. This multi-year agreement, signed in February, is expected to offer Amazon cost advantages and signifies a potential improvement in relations between the two companies, following their previous separation in 2019. FedEx will join Amazon’s third-party partners, while UPS plans to significantly decrease its delivery volume for Amazon, impacting thousands of jobs.
Source: YAHOO
Reported 4 months ago
House Republicans have introduced a comprehensive tax bill championed by President Trump, projected to cost at least $4.9 trillion, funded partially by cuts to Medicaid and food assistance programs. The plan aims to extend existing tax breaks and introduce new ones for tipped wages, overtime, and car loans. However, the proposal raises significant concerns among members of the GOP regarding potential impacts on healthcare and social support systems, igniting intense political debate and prompting calls for unity within the party.
Source: YAHOO