European shares hit two-week low as Trump’s tariff plans slam automakers
European shares fell to a two-week low on Thursday, led by auto stocks after U.S. President Donald Trump’s plans for 25% import tariffs on all vehicles and foreign-made auto parts fuelled fears a trade war could slow global growth. The…
US weekly jobless claims edge lower
WASHINGTON – The number of Americans filing new applications for unemployment benefits slipped last week, while the jobless rate appeared to have held steady in March. Initial claims for state unemployment benefits fell 1,000 to a seasonally adjusted 224,000 for…
Brazil’s annual inflation hits two-year high as rate hikes continue
SAO PAULO – Brazil’s 12-month inflation rate accelerated slightly less than expected in early March but still hit its highest level in two years, official data showed on Thursday, as the Brazilian central bank continues to tighten monetary policy. Annual…
Brazil posts slightly wider-than-expected February budget deficit
BRASILIA -Brazil’s central government recorded a slightly wider-than-expected primary budget deficit in February, Treasury data showed on Thursday, although the result improved sharply from a year earlier, mainly due to lower expenditures. Latin America’s largest economy posted a deficit, excluding…
TSX ends flat as auto tariffs deter investor moves
Canada’s main stock index steadied on Thursday as an expanding global trade war discouraged investors from making new bets on the market, with gains for gold miners offsetting losses for auto parts and technology shares. Toronto Stock Exchange’s S&P/TSX composite…
Trade war’s impact on growth extremely detrimental, ECB says
BRUSSELS – A trade war with the United States could have a fleeting impact on euro zone inflation but a far more detrimental effect on economic growth, European Central Bank Vice President Luis de Guindos said on Thursday. The euro…
Italy is concerned but not ‘terrified’ by potential Trump wine tariffs, minister says
ROME – Italy is concerned but not “terrified” of any new tariffs the United States could impose on wine, the country’s agriculture minister said on Thursday, adding he hoped diplomatic efforts could avert damage to a key industry. U.S. President…
US goods trade deficit narrows in February
WASHINGTON – The U.S. trade deficit in goods narrowed in February amid a rise in exports, which could temper economists’ expectations for a sharp slowdown in economic growth in the first quarter. The goods trade deficit contracted 4.9% to $147.9…
US corporate profits hit record high before Trump’s tariffs
WASHINGTON – U.S. corporate profits surged to a record high in the fourth quarter amid strong demand and pricing power, but an uncertain economic outlook due to tariffs is creating a challenging environment for businesses that economists say could force…
Argentina targets $20 billion IMF deal to bolster markets, FX
BUENOS AIRES – Argentina is targeting a $20 billion deal with the International Monetary Fund, Economy Minister Luis Caputo said on Thursday, formally putting a figure on the long-mooted program for the first time as he looks to calm local…
Bank bosses call for softer rules, Trump-nominated regulators listen
NEW YORK – U.S. banking giants are pushing for a swath of lighter regulations from President Donald Trump’s administration, and say they are heartened by signals that regulators are listening. Bank bosses want to cut reporting requirements on some transactions,…
US pending home sales rebound in February
WASHINGTON – Contracts to buy U.S. previously owned homes rebounded marginally in February amid a decline in mortgage rates but rising economic uncertainty could limit momentum. The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index,…
S&P 500 ends lower as investors digest Trump’s auto tariffs
The S&P 500 ended lower on Thursday, as investors grappled with U.S. President Donald Trump’s latest trade tariff announcement that hit shares of General Motors and Ford. Trump unveiled on Wednesday his plan to implement a 25% tariff on imported…
Cuban domestic freight traffic plummets in sign of deepening crisis
HAVANA – Cuban freight traffic plunged 19% in 2024, the government’s statistics agency said this week, the latest sign that a grueling economic crisis which began five years ago is growing worse. The statistic measures transportation by ground, sea and…
UK finance minister Reeves trims her spending plans in face of slowing economy
LONDON – British finance minister Rachel Reeves, facing a weak economy, trimmed her spending plans in a budget update on Wednesday that gave some reassurance to investors, but the risks of a global trade war could put tax hikes back…
US risks default as soon as August without debt-ceiling action, CBO estimates
WASHINGTON – The U.S. government will probably risk defaulting on some of its $36.6 trillion in debt as soon as August – or possibly even by late May – unless Congress acts to raise the nation’s debt ceiling, the non-partisan…
Analysis-Wall Street job cuts loom as market turmoil stalls deals
NEW YORK – U.S. investment banks are poised to cut more jobs if economic uncertainty continues to weigh on dealmaking in the months ahead, according to analysts and recruiters. U.S. President Donald Trump’s threats to impose tariffs on trading partners…
Trump tariffs loom over Britain’s debt-laden economy
LONDON – U.S. President Donald Trump emerged as one of the biggest threats hanging over the British economy on Wednesday, when the country’s fiscal watchdog said slow growth and a heavy debt burden made it especially vulnerable to his proposed…
Oil settles up 1% on US crude and fuel stock draw, Venezuela supply worries
HOUSTON -Oil prices rose on Wednesday, buoyed by government data showing U.S. crude oil and fuel inventories fell last week and by mounting concerns about tighter global supply following the U.S. threat of tariffs on nations buying Venezuelan crude. Brent…
NY Fed details likely looming rise in troubled student loan borrowing
NEW YORK -The end of various pandemic-era student loan support programs likely portends a rise in credit issues for borrowers, although it will take time to understand the full extent of the problem, New York Federal Reserve researchers said on…