Traton reported a 10% drop in first-quarter deliveries and said the quarter’s operating will fall short of market expectations, Volkswagen’s trucks business said on Wednesday. The company said it sold 73,100 trucks and buses in the first quarter, compared with…

LONDON – Blackstone has said it has closed a 9.8 billion euro ($10.8 billion) European property fund, as it bets on signs of recovery for the sector despite deepening market turmoil. The fundraise for the Europe Real Estate Partners VII…

GENEVA -China told the World Trade Organization on Wednesday that the United States’ decision to impose what it has called reciprocal tariffs on Beijing threatens to further destabilise global trade. “The situation has dangerously escalated. …As one of the affected…

NEW YORK – JPMorgan Chase CEO Jamie Dimon said on Wednesday that sweeping tariffs imposed by U.S. President Donald Trump will probably lead to a recession and defaults by borrowers, he told Fox Business’ Mornings with Maria. “So long as…

HONG KONG – China began censoring some tariff-related content on social media on Wednesday after U.S. “reciprocal” tariffs on dozens of countries took effect, including massive 104% duties on Chinese goods, while posts criticising the U.S. were top hits. Hashtags…

SHAOXING, China – Chinese producers of plastic Christmas trees and other festive decorations say orders from U.S. clients, which are crucial for their business, should have started to come in by now. But because of surging import tariffs, they haven’t….

Elon Musk’s X has reached an agreement to resolve claims that live streaming service Twitch conspired with other companies and an advertising industry group to boycott the social media platform, causing it to lose ad revenue. In a court filing…

WASHINGTON – U.S. Agriculture Secretary Brooke Rollins said on Tuesday that new deals could be struck with other countries over trade tariffs by the end of this week. Rollins made the comments in an interview to Fox News host Bret…

President Donald Trump on Tuesday said he told the Taiwan Semiconductor Manufacturing Company it would pay a tax of up to 100 percent if it didn’t build its plants in the United States Speaking to an event at the Republican…

NEW YORK – A violent U.S. Treasury selloff, evoking the COVID-era “dash for cash,” has reignited fears of fragility in the world’s biggest bond market. The $29-trillion Treasury market had surged in recent weeks as investors dumped stocks for the…

SYDNEY – Stocks in Asia extended a slide on Wall Street on Wednesday as President Donald Trump looked set to press ahead with whopping 104% tariffs on Chinese goods, pummelling oil prices to four-year lows as global recession fears gripped…

China’s top leaders plan to convene a meeting as early as Wednesday to discuss measures to boost the economy and stabilise the capital markets, people with knowledge of the matter said, amid an escalating trade war with the U.S. The…

BEIJING – China on Wednesday vowed to take resolute and effective measures to safeguard its rights and interests, after U.S. President Donald Trump’s 104% duties on Chinese imports kicked in. “The U.S. continues to abuse tariffs to pressure China, China…

BEIJING -China’s car sales rose 14.4% in March from a year earlier, as government-subsidised trade-ins bolstered demand for electric vehicles and plug-in hybrids, despite deepening deflationary pressures in the world’s largest auto market. Passenger vehicle sales hit 1.97 million units…

LONDON – Investors are dumping U.S. assets they usually favour in times of turmoil as fear over the economic impact of U.S. President Donald Trump’s reciprocal tariffs shakes confidence in traditional safe-havens. The dollar and U.S. Treasuries have taken a…

Amazon.com is considering a $15 billion warehouse expansion plan for about 80 new logistics facilities in U.S. cities and rural areas, Bloomberg News reported on Wednesday, citing people familiar with the matter. The company is asking potential capital partners to…

PARIS – The head of France’s Medef business lobby group warned on Wednesday that U.S. tariffs, that are deepening a global trade war, could hit economic growth and lead to a recession. “Of course I am worried,” Patrick Martin told…

NEW YORK – Costco has had productive discussions with Iowa Attorney General Brenna Bird over the retailer’s diversity policies amid a legal onslaught against those programs launched by President Donald Trump, according to Bird’s office and another person familiar with…

LONDON -U.S. media giant Comcast Corp will build its first Universal theme park and resort in Europe in Bedford, north of London, opening in 2031, the British government said on Wednesday. The park will create 20,000 jobs during construction and…

HONG KONG/BEIJING – A handful of major Chinese companies like home appliance maker Midea have new badges of honour this year: mandatory clock-off times for staff and bans on after-hours meetings. Staff at Midea once toiled till late in the…

SEOUL – South Korea on Wednesday announced emergency support measures for its auto sector, seeking to reduce the blow of U.S. President Donald Trump’s tariffs on a sector that has seen years of sharply rising exports to the United States….

DUBAI -Saudi Arabia, with its wealth linked inextricably to oil revenue, faces mounting pressure to raise debt or cut spending after a plunge in crude prices, complicating plans to fund an ambitious agenda to diversify its economy. Oil prices have…

President Donald Trump on Tuesday said the U.S. will soon announce a “major” tariff on pharmaceutical imports. Speaking to an event at the National Republican Congressional Committee, Trump said the tariff will incentivize drug companies to move their operations to…

SINGAPORE – Oil prices dropped to their lowest in more than four years in early trade on Wednesday on looming demand concerns fuelled by an escalating tariff war between the U.S. and China, the world’s two biggest economies, and a…

WASHINGTON -U.S. President Donald Trump signed executive orders on Tuesday that aim to boost coal production in his latest action that runs counter to global efforts to curb carbon emissions. Coal-burning plants generate less than 20% of U.S. electricity, a…

HANOI -Vietnam will buy more American goods, including defence and security products, and has asked for a 45-day delay in the imposition of U.S. tariffs, Prime Minister Pham Minh Chinh said in a statement issued late on Monday. Hanoi will…

WASHINGTON – U.S. President Donald Trump said on Tuesday the United States is taking in $2 billion per day from tariffs. He made the comment without providing details during an event at the White House. Trump has imposed an array…

HONG KONG – China’s state planner said on Tuesday it held a meeting with private domestic companies, including Trina Solar, ride-hailing company Didi and Goertek, to hear suggestions about how to deal with additional U.S. tariffs. The meeting, which took…

OTTAWA – The 25% counter-tariffs Canada said last week it would impose on some U.S.-made vehicles will go into effect on April 9, the federal finance ministry said on Tuesday. “These countermeasures will remain in place until the U.S. eliminates…

LONDON/ATHENS – President Donald Trump’s administration is considering softening its proposed fee on China-linked ships visiting U.S. ports after a flood of negative feedback from industries that said the idea could be economically devastating, according to six sources. Among the…