Analysis-Economic turbulence shakes US airlines as travel demand falters
CHICAGO/NEW YORK – U.S. airlines were flying high less than two months ago on talk of a new golden age, as strong travel demand and tight industry-wide capacity raised the prospect of a multi-year profit boom. But President Donald Trump’s…
US oil producers face new challenges as top oilfield flags
NEW YORK/HOUSTON – U.S. oil producers are grappling with geological limits to production growth as the country’s top oilfield ages and produces more water and gas and less oil – and may be nearing peak output. The Permian basin was…
Trump administration tells oil and biofuels groups to hash out new biofuel policy
NEW YORK – U.S. President Donald Trump’s administration has asked oil and biofuels producers to hash out a deal on the next phase of the nation’s biofuels policy to avoid the kind of political clashes that marked his first term,…
Three Intel board members to retire in latest shakeup amid turnaround
Three Intel board members will not stand for reelection at its 2025 annual meeting, the chipmaker said in a regulatory filing on Thursday, amid a historic transition under newly appointed CEO Lip-Bu Tan. Since late last year, the company has…
GameStop shares tumble as investors question bitcoin pivot
Shares of GameStop fell more than 15% on Thursday after the company’s plan to finance its bitcoin pivot raised questions about the timing of its move and its strategy to turn around its struggling retail business. The video game retailer’s…
UN slightly reduces rations for Rohingya refugees in Bangladesh
DHAKA – The United Nations World Food Programme has managed to sustain food assistance for Rohingya refugees in Bangladesh, though rations have been slightly reduced due to funding shortages, officials said on Thursday. Under the revised system, each refugee in…
Car rental firms Hertz, Avis zoom as tariffs seen hurting new-vehicle demand
Shares of highly shorted Hertz and Avis Budget Group surged on Thursday as U.S. President Donald Trump’s plan to slap a 25% tariff on imported vehicles raised prospects of consumers opting for car rentals instead of buying expensive new cars….
Putin envoy says Russia could supply a small nuclear power plant for Musk’s Mars mission
Russia could supply a small nuclear power plant for a mission to Mars planned by billionaire entrepreneur and SpaceX CEO Elon Musk, President Vladimir Putin’s international cooperation envoy said on Thursday. The envoy, Kirill Dmitriev, said Moscow could discuss the…
Denmark condemns what it calls Trump’s escalated rhetoric on Greenland
COPENHAGEN – Danish government ministers condemned what they called President Donald Trump’s escalated rhetoric on Thursday and praised Greenland’s inhabitants for their resilience in the face of U.S. pressure for control over the Arctic island. Reiterating his desire to take…
Europeans back strong Ukraine army, differ on future ‘reassurance force’
PARIS -European leaders vowed on Thursday to strengthen Kyiv’s army to ensure it was the cornerstone of future security in Ukraine, while France and Britain tried to expand support for a planned foreign “reassurance force” in the event of a…
Rescuers dig for missing U.S. soldiers’ vehicle in Lithuania
VILNIUS -Rescuers in Lithuania were digging on Thursday into a peat bog in a military training area to recover the vehicle of four U.S. soldiers missing for two days. The soldiers in the M88 Hercules armoured recovery vehicle were on…
Trump withdraws Stefanik as his pick for United Nations envoy
WASHINGTON -U.S. President Donald Trump said on Thursday he had withdrawn his pick to be ambassador to the United Nations because the Republicans need to maintain their slim majority in the House of Representatives to advance his “America First” agenda….
NYSE-parent ICE plans to launch battery metals derivatives this year
LAUSANNE – Intercontinental Exchange plans to launch derivatives in battery metals cobalt and lithium spodumene in London later this year, an executive said on Tuesday. “Our customer base is looking to us to provide products to hedge. Our role is…
ProSieben shares plunge as Berlusconi-backed MFE bids low
MILAN/BERLIN -Shares in ProSiebenSat.1 fell sharply after the TV group controlled by Italy’s Berlusconi family made a low-ball bid to other investors in the German media group as part of a plan to strengthen its grip on the company. The…
Brazil’s central bank signals need for higher rates for longer
BRASILIA -The Brazilian central bank’s economic policy director Diogo Guillen said on Thursday that when inflation expectations are unanchored, as they are now, interest rates need to be higher for longer. Guillen and central bank chief Gabriel Galipolo both stressed…
IMF assessing Trump’s tariff plans, does not see US recession
WASHINGTON -The International Monetary Fund is continuing to assess the impact of President Donald Trump’s tariff plans, including his new 25% auto tariffs, but the global lender’s baseline forecasts do not envision a U.S. recession, IMF spokesperson Julie Kozack said…
Mexico working for preferential treatment in face of US auto tariffs
MEXICO CITY – Mexico is working to carve out an exemption for its critical autos industry after Washington announced tariffs on imported vehicles, the economy minister said on Thursday. U.S. President Donald Trump on Wednesday announced 25% tariffs on auto…
European auto suppliers body calls for solutions, not tariffs
PARIS – The European association of automotive suppliers (CLEPA) on Thursday called on policymakers in Europe to prioritise finding solutions over trade barriers after U.S. President Donald Trump announced 25% tariffs on foreign-made vehicles. “Tariffs of this scale will disrupt…
Factbox-How investors buy gold and what drives the market
Gold prices rose to a fresh all-time high on Thursday, bolstered by safe-haven inflows following U.S. President Donald Trump’s announcement of new auto tariffs. Bullion prices touched a record high of $3,057.78 per ounce to mark a gain of over…
UK in talks over US car tariffs, could look at Tesla subsidies, Reeves says
LONDON -Britain is working intensely with Washington to secure an exemption from U.S. auto tariffs and could review subsidies enjoyed by Elon Musk’s Tesla to better support its industry, finance minister Rachel Reeves said on Thursday. Reeves said Britain should…