Reported 4 months ago
In Australia, gold is being quickly processed from ore to bars following a surge in prices driven by geopolitical tensions and economic fluctuations. Recent data shows gold prices have increased over 30% since the beginning of 2025, prompting heightened demand from investors seeking secure assets. Despite a temporary drop after the U.S. clarified tariff exemptions for gold imports, analysts predict the trend of rising prices may continue.
Source: YAHOO
Reported 4 months ago
As the U.S. ends the duty-free treatment on small parcels under $800 from China and Hong Kong, many retailers have halted sales to U.S. customers or are raising prices significantly. This decision, resulting in tariffs up to 145%, has forced some small to medium-sized businesses to exit the market, while larger companies struggle to adjust amidst rising costs. The change disrupts e-commerce, especially for those dependent on Chinese goods, and might shift consumer behavior back towards physical stores.
Source: YAHOO
Reported 4 months ago
Asian shares rose on Friday after China's Commerce Ministry indicated that Beijing is considering negotiations with the U.S. regarding President Trump's tariffs. Hong Kong's Hang Seng surged 1.8%, while Taiwan's benchmark increased by 2.7%. The positive sentiment followed upbeat earnings reports from major U.S. tech companies, though concerns about potential economic stagnation and high inflation lingered amid mixed economic data.
Source: YAHOO
Reported 4 months ago
Bitcoin's price has risen significantly, nearing the psychological threshold of $100,000, following positive market news from major financial institutions. After a breakout above a pennant pattern, analysts suggest watching important resistance levels at $100,000 and $107,000, while key support levels are anticipated around $92,000 and $85,000. This price movement signals potential bullish trends for investors amidst market fluctuations.
Source: YAHOO
Reported 4 months ago
The head of the Basel Committee on Banking Supervision has stated that Switzerland’s capital regulations do not unduly penalize UBS compared to other international banks, despite UBS's concerns over new government proposals to raise capital requirements. Neil Esho emphasized that the flexibility allowed in Swiss rules for capital contributions, including subsidiary capital, mitigates potential disadvantages. While UBS argues that stricter regulations could harm its competitiveness, Esho maintains that the quality of capital matters more than quantity in assessing resilience.
Source: YAHOO
Reported 4 months ago
Kohl’s has terminated its newly appointed CEO, Ashley Buchanan, following an investigation which revealed that he engaged in unethical behavior related to undisclosed vendor conflicts of interest. His dismissal, deemed 'for cause', is significant in the business community, occurring only five months into his role, during which the retailer faced declining sales. Michael Bender will serve as interim CEO while concerns about the company's stability and ongoing challenges in the retail landscape persist.
Source: YAHOO
Reported 4 months ago
A Reuters poll indicates that Japan's economy likely contracted in Q1 for the first time in a year, with an anticipated annualized GDP decline of 0.2% driven by weak domestic consumption and imports surpassing exports. Despite a slight uptick in private consumption, rising food prices and consumer caution are affecting spending. The upcoming GDP figures will be officially released on May 16.
Source: YAHOO
Reported 4 months ago
China has announced it is reconsidering trade discussions with the US, following a spike in tariffs instituted by the Trump administration. The Chinese Commerce Ministry stated that it recognizes the US's willingness to engage in dialogue and is currently assessing this potential for negotiations. Observers note that this could signal a shift in relations between the two largest economies, as recent escalations have impacted both nations' economies significantly. However, China insists on the US showing sincerity and lifting tariffs as a prerequisite for any discussions.
Source: YAHOO
Reported 4 months ago
The dollar has dipped slightly as investors await crucial U.S. jobs data, but it is still on track for a weekly rise against most currencies amid easing tariff concerns. Reports indicate a potential openness from China for trade negotiations, which has boosted the risk-sensitive Australian and New Zealand dollars. Market participants anticipate the upcoming non-farm payrolls report for insights on future Federal Reserve rate cuts.
Source: YAHOO
Reported 4 months ago
China's Ministry of Commerce revealed that Beijing is assessing recent trade negotiation overtures from the U.S. However, the significant tariffs imposed by Washington, which can reach up to 145%, are seen as a major hurdle that erodes trust. While China remains open to discussions, it demands reciprocity and genuine action from the U.S., especially regarding tariff reductions. Tensions persist as both nations grapple with trade policies affecting their economies, with China recently implementing its own tariffs in response to U.S. measures.
Source: YAHOO
Reported 4 months ago
India's leading bond fund manager, Devang Shah, signals that the current rally in the sovereign bond market is nearing its conclusion, despite the general bullish sentiment. He anticipates a limited further decline in yields due to previous substantial drops and plans to adjust fund durations towards shorter-term notes. The Reserve Bank of India's easing measures have substantially decreased long-term yields, but Shah warns that the focus may soon shift as market dynamics evolve.
Source: YAHOO
Reported 4 months ago
China's Commerce Ministry announced it is 'evaluating' the U.S. offer for talks concerning President Trump's high tariffs on Chinese imports, suggesting a possible easing of trade tensions. The U.S. is urged to demonstrate sincerity and cancel unilateral tariffs to facilitate discussions. As both nations express hope for progress, Trump optimistically mentioned a potential deal could be on the horizon, while China is leveraging exemptions on specific U.S. products in its retaliatory strategy.
Source: YAHOO
Reported 4 months ago
China's Commerce Ministry has announced that it is currently evaluating proposals from the United States regarding tariffs, indicating a potential shift in trade relations.
Source: YAHOO
Reported 4 months ago
Global stocks experienced a surge on signs of potential trade negotiations between the U.S. and China, which lifted investor sentiment despite disappointing earnings from major tech firms. China's indication of openness to tariff discussions and Japan's leverage as a significant creditor to the U.S. added to the optimism, although concerns about the global economic outlook persist due to ongoing tariff policies and economic contraction data.
Source: YAHOO
Reported 4 months ago
President Trump announced secondary sanctions targeting nations and companies purchasing Iranian oil, heightening pressure on Tehran as nuclear negotiations falter. Following a rough patch in talks, which were postponed, Trump reaffirmed his strategy to prevent Iran from acquiring nuclear capabilities, echoing previous sanctions that resulted in a significant decline in Iran's oil exports. This move may intensify tensions with countries like China and the UAE, who rely on Iranian crude.
Source: YAHOO
Reported 4 months ago
Oil prices increased on Friday following China's announcement of its openness to engage in trade discussions with the United States, raising hopes for an easing of tensions in their ongoing trade war. Brent crude futures rose to $62.62 per barrel, while U.S. West Texas Intermediate crude futures climbed to $59.74 per barrel. This development, alongside concerns regarding rising output from OPEC+, may influence future market dynamics.
Source: YAHOO
Reported 4 months ago
Gold is on track for its first consecutive weekly loss this year, with prices around $3,240 an ounce, as traders reduce bets on US interest rate cuts following stronger-than-expected factory activity data. The precious metal's safe-haven appeal diminished as optimism in markets grew from robust tech earnings and potential trade negotiations, despite ongoing concerns about a challenging business climate ahead. Gold remains significantly higher this year, having peaked above $3,500 last week.
Source: YAHOO
Reported 4 months ago
Spotify has submitted an update to its app on Apple devices that includes an external link for purchasing subscriptions in the U.S., complying with a court ruling that found Apple violated competition laws. This change comes after a judge ordered Apple to allow greater competition in app downloads, prompting Spotify to express frustration over years of restrictions. Apple plans to appeal the ruling while stating it will comply with the order.
Source: YAHOO
Reported 4 months ago
Approximately 2,500 workers at Electric Boat shipyard in Connecticut, crucial for the U.S. Navy's nuclear submarine fleet, will strike on May 18 if a new contract isn't finalized. Union leadership has expressed demands for higher wages, restored pension benefits, and profit-sharing. With their previous contract expired, union members have voted in favor of striking while the company prepares for possible work stoppage.
Source: YAHOO
Reported 4 months ago
Australia's major banks are on the verge of a critical earnings test as they confront mixed interest margin prospects amid anticipated rate cuts, ongoing inflation concerns, and increasing mortgage pressure. With an upcoming election heightening cost-of-living anxieties that impact lending patterns, banks like Westpac and NAB are projected to face varying profit outcomes. Analysts are closely watching these developments, especially with the Reserve Bank of Australia's decisions on interest rates influencing housing credit growth.
Source: YAHOO
Reported 4 months ago
This article outlines a structured plan for drivers looking to transition from being leased onto a carrier to operating under their own authority within 90 days. It shares the story of a driver named Marcus, who faced common challenges such as financial strain and the complexities of running a business. By following a step-by-step approach that includes understanding costs, building relationships, and executing a solid plan, Marcus successfully established his independent trucking operation. The narrative emphasizes the importance of preparation, discipline, and strategic relationships in achieving long-term success in the trucking industry.
Source: YAHOO
Reported 4 months ago
Amazon reported first-quarter revenue of $155.67 billion, exceeding Wall Street expectations, with a 9% year-over-year increase and a 64% rise in earnings per share to $1.59. However, CEO Andy Jassy cautioned about potential impacts from global tariffs, indicating uncertainty for future quarters, particularly regarding sales and operating income guidance. Despite Walmart's concerns about pricing changes, Jassy noted that demand has remained steady, with no significant price increases from sellers on their platform yet.
Source: YAHOO
Reported 4 months ago
Mexico's government, led by Labor and Social Security Minister Marath Bolanos, plans to gradually reduce the standard work week from 48 to 40 hours by January 2030. This initiative, part of President Claudia Sheinbaum's labor reform agenda, will involve nationwide forums from June to July to gather input on the proposal, following previous delays and Congressional resistance.
Source: YAHOO
Reported 4 months ago
U.S. stock futures showed slight increases following mixed earnings reports from Apple and Amazon, both of which signaled potential economic challenges. Although Apple surpassed earnings expectations, its shares declined due to disappointing sales in China and concerns over tariffs, while Amazon's guidance fell short of expectations, causing its shares to drop as well. This comes after a surge in tech stocks following strong earnings from Microsoft and Meta, with Wall Street now looking ahead to the upcoming jobs report for signs of labor market trends.
Source: YAHOO
Reported 4 months ago
Canadian National (CN) experienced a stronger first-quarter earnings report, showcasing an 8% growth in earnings and a slight improvement in its operating ratio despite severe winter weather impacting train operations. CEO Tracy Robinson expressed optimism about the company's position for the upcoming year, even amid uncertainties surrounding trade agreements and tariffs. While Canadian traffic saw minor changes, CN anticipates challenges in international intermodal volumes due to port cancellations. Overall, CN reported a 4% increase in both operating income and revenue, while completing record amounts of grain transportation in March.
Source: YAHOO