US utilities grapple with Big Tech’s massive power demands for data centers
NEW YORK – U.S. electric utilities are fielding massive requests for new power capacity as Big Tech scours the country for viable locations for new data centers to keep up with the compute demands of AI. A Reuters survey of…
Greece expects EU response on US tariffs, economy can withstand challenges, PM says
ATHENS – Greece’s economy can withstand the new challenges that U.S. tariffs pose, Prime Minister Kyriakos Mitsotakis said on Monday, as the country awaits a unified European Union stance on the matter. U.S. President Donald Trump’s sweeping tariff plans hammered global…
More than 500 law firms back Perkins Coie suit against punitive Trump order
WASHINGTON (Reuters) – More than 500 law firms have signed a court brief denouncing Donald Trump’s targeting of Perkins Coie and other firms, expressing alarm over the Republican president’s intensifying crackdown on the legal profession. Law firms signed the brief…
US Supreme Court turns away challenge to New York state gun limits
The U.S. Supreme Court turned away on Monday a challenge to New York firearms restrictions adopted shortly after the justices in 2022 struck down the Democratic state’s previous limits on carrying concealed handguns in a landmark ruling that expanded gun…
China tells US companies it will protect rights of foreign-funded firms
China’s Vice Commerce Minister Ling Ji told U.S. companies including Tesla and GE Healthcare that the country would always protect the rights of foreign-funded firms in China, including those from the United States. China has been, is, and will be…
European shares dive to 16-month low on trade war gloom
European shares plunged to a 16-month low on Monday as investors grappled with the possibility of a recession after sweeping tariffs announced by United States last week. U.S. President Donald Trump showed no sign of backing away from the tariff…
Vanguard UK clients faced service delays amid market tumble
LONDON -Vanguard’s UK online investment platform experienced IT problems for several hours on Monday with clients facing delays in accessing account information, as global markets slid following U.S. President Donald Trump’s tariff announcements. Hundreds of Vanguard customers experienced problems accessing…
Trump threatens additional tariffs on China, terminates talks
WASHINGTON – U.S. President Donald Trump said on Monday he will impose an additional 50% tariff on China if Beijing does not withdraw its retaliatory tariffs on the United States. “Additionally, all talks with China concerning their requested meetings with…
Kremlin says Russia is ready to do all it can to help resolve US-Iran nuclear tensions
MOSCOW -The Kremlin said on Monday that Russia was ready to do all it could to help resolve tensions between the United States and Iran around Tehran’s nuclear programme, as Washington demands Tehran do a nuclear deal with it or…
Mexico would like to avoid imposing reciprocal tariffs on U.S
MEXICO CITY – Mexico’s President Claudia Sheinbaum said on Monday that her government would like to avoid imposing reciprocal tariffs on the U.S. after President Donald Trump’s sweeping tariff plans, though she said it could not be ruled out. Trump…
European bank shares on course for bear market
An index of European banking <.SX7P shares fell 4.8% on Monday, falling more than 20% from recent closing high and leaving it on course to confirm it is in a bear market. The decline extended into a third day as…
China says it complains to US about Taiwan delegation’s Washington visit
BEIJING – China’s foreign ministry said on Monday the country had lodged representations with the United States over reports that a Taiwan delegation was in Washington to meet with the Trump administration. China opposes any form of official exchanges between…
Israel hit Syrian bases scoped by Turkey, hinting at regional showdown, sources say
AMMAN/ISTANBUL – Turkey scoped out at least three air bases in Syria where it could deploy forces as part of a planned joint defence pact before Israel hit the sites with air strikes this week, four people familiar with the…
Fed’s Kugler: making sure inflation doesn’t rise is priority
Federal Reserve Governor Adriana Kugler on Monday said that some of the recent rise in goods and market-services inflation may be “anticipatory” of the effect of the Trump administration’s current policies, adding that it’s a “priority” for the Fed to…
Tariff storm ravages Magnificent Seven as Apple nears one-year low
The “Magnificent Seven” stocks sank on Monday, extending a market rout that has wiped off around $2 trillion from their combined value as investors worry about the financial fallout of U.S. President Donald Trump’s global tariff war. The latest slide…
Asia credit starts to wobble as market pain spreads
SINGAPORE -Credit markets turned shaky in Asia on Monday, with the cost of insuring against corporate and sovereign default higher as recession fears rippled across financial markets. The five-year credit default swap spread on the Markit Itraxx Asia ex-Japan index,…
New Zealand to nearly double defence spending to 2% of GDP
WELLINGTON – New Zealand said on Monday it would boost defence spending by NZ$9 billion ($5 billion) over the next four years and aim to nearly double spending as a proportion of GDP to 2% in the next 8 years….
Indonesia wants fair and equal relationship with U.S., President says
JAKARTA – Indonesia wants a fair and equal relationship with the U.S., and will pursue diplomacy to address a 32% tariff rate imposed by the Trump administration, President Prabowo Subianto said on Monday.
Musk’s DOGE team can access government data for now, appeals court rules
A divided federal appeals court set aside a court order that had blocked the government downsizing team created by U.S. President Donald Trump and led by Elon Musk from seizing sensitive data from the Treasury Department, Education Department and Office…
US crypto stocks plunge as bitcoin hits new 2025 low
U.S.-listed shares of crypto companies tumbled before the markets opened on Monday, mirroring a sharp drop in bitcoin as escalating tariff tensions and fears of a global trade war triggered a broad retreat from risk assets. Bitcoin fell as much…
Global markets are in meltdown: here’s how it looks in charts
LONDON – A stock market rout, historic in scale, has swept across the globe wiping more than $10 trillion off major markets, as concerns about the economic damage unleashed by U.S. President Donald Trump’s tariffs spiral. No corner of the…
China stocks sink on trade war fears; Hong Kong dives 10%
SHANGHAI -Hong Kong and Chinese stocks dived on Monday as markets around the world crumbled in the face of a widening global trade war and fears it will unleash a deep recession. Hong Kong’s Hang Seng index slumped more than…
Goldman Sachs raises odds of US recession to 45%
SINGAPORE – Goldman Sachs has raised the odds of a U.S. recession to 45% in the next 12 months, joining other investment banks in revising their forecast as fears of a trade war grip markets after sweeping tariffs from U.S….
Spain pushes to expand aid plan for industries hit by U.S. tariffs
MADRID – Spanish Economy Minister Carlos Cuerpo said on Monday he would push the European Union to approve aid for industries hit by US tariffs at a meeting of EU finance ministers to be held that day. Spain on Thursday…
Netanyahu to seek tariff relief in talks with Trump
WASHINGTON – Israeli Prime Minister Benjamin Netanyahu will seek to limit the sting of tariffs imposed on his country when he meets U.S. President Donald Trump on Monday, a visit likely to be closely watched by world leaders as global…
Multiple UN agencies call for urgent renewal of ceasefire in Gaza as death toll mounts
GENEVA -The heads of six U.N. agencies called on Monday for an urgent renewal of the ceasefire in Gaza, warning of aid shortages and hunger since Israel resumed its all-out assault with the deadliest week for Gaza’s children of the…
Tariffs will lead to 2 million fewer auto sales in US this year, auto advisory firm forecasts
DETROIT – U.S. and Canada auto sales could decline by 1.8 million vehicles this year and be stagnant over the next decade if the global trade war escalates, a Detroit-area automotive advisory firm forecasts. If the current tariffs stay in…
Kenya thinks it can win from U.S. tariffs, but global recession risk looms
NAIROBI – Kenya is among those exporters hoping a smaller Trump tariff blow vis-a-vis competitors might help them emerge as winners in the nascent global trade war, but translating the disparity into an advantage will be an uphill struggle. As…
EU prioritises talks with US to get Trump’s tariffs removed
LUXEMBOURG – European Union ministers broadly agreed on Monday that the bloc should prioritise negotiations to remove tariffs imposed by President Donald Trump over retaliation even as it prepared a first set of targeted countermeasures. The 27-nation bloc faces 25%…
China calls US tariffs ‘bullying’, urged others to continue with consultation
BEIJING – Threats and pressure are not the right way to deal with China, a Chinese foreign ministry spokesperson said on Monday after describing U.S. President Donald Trump’s “reciprocal tariffs” as bullying. The tariffs are “typical unilateralism and protectionism, and…