Tesla’s software engineering head to step down, Bloomberg News reports
Tesla’s vice president of software engineering, David Lau, has told people at the company he is stepping down, Bloomberg News reported on Friday, citing people familiar with the matter. Lau, who has been with the automaker for more than 12…
Tariff turmoil puts a freeze on global M&A dealmaking
From Wall Street to Israel and Sweden, U.S. President Donald Trump’s new tariffs — and the global equities sell-off they sparked — have rapidly scuttled acquisitions and IPOs. The additional U.S. tariffs, which range from 10% to 50%, announced on…
Stocks extend recent selloff, oil drops as China hits back after Trump tariffs
NEW YORK -Global stock markets and oil prices tumbled again on Friday as China struck back against U.S. President Donald Trump’s tariffs and worries mounted about a prolonged global trade war. The Nasdaq Composite was headed toward a bear market,…
Anson Funds names its 3 candidates in board fight at Match Group
NEW YORK -Hedge fund Anson Funds blamed Match Group’s board for the online dating company’s underperformance and named publicly for the first time its three director candidates who all have expertise in the technology sector and have sat on public…
Analysis-Next up for markets: A crisis of confidence in the dollar
LONDON -In times of market panic investors tend to rush to the safety of the dollar, but when stocks swooned in response to U.S. tariffs this week, they ran away from it. Investors say it’s a sign that the greenback’s…
Investors flee US equity funds on escalating tariff concerns
U.S. equity funds saw outflows in the week ending April 2 as investors shed risky assets on growing concerns that President Donald Trump’s sweeping trade tariffs could drive up costs, pressure corporate profits and heighten recession risks. U.S. investors divested…
Global money market inflows surge as trade tariffs stoke slowdown fears
Global money market funds saw massive inflows in the week ending April 2 as investors grew cautious over U.S. President Donald Trump’s aggressive trade policies, which are heightening fears of a global slowdown and prompting some economists to revise their…
Sean ‘Diddy’ Combs faces expanded sex trafficking indictment
NEW YORK -Sean ‘Diddy’ Combs was hit with an expanded federal indictment on Friday, charging the hip-hop mogul with five criminal counts including racketeering and sex trafficking. Combs, 55, previously pleaded not guilty to an earlier three-count indictment. The new…
US battery and carbon capture projects slated for cuts on DOE list
WASHINGTON -The U.S. Department of Energy is weighing cuts to billions of dollars in funding for projects meant to demonstrate nascent energy storage and carbon capture, according to a list seen by Reuters. Rescinding funding for the projects would represent…
Cocoa, coffee, sugar prices slide as markets remain rattled by Trump tariffs
LONDON – World cocoa, coffee and sugar prices slid again on Friday as markets remained rattled by U.S. president Donald Trump’s sweeping tariffs, especially after China retaliated with its own levies on U.S. imports. Trump on Wednesday imposed a 10%…
Trump administration to hold oil, gas lease sale in Gulf of Mexico
WASHINGTON – The U.S. will hold an oil and gas lease sale in the Gulf of Mexico, as planned by the administration of former President Joe Biden, and will release a proposed notice of it in June, the Interior Department…
US labor market healthy on the eve of Trump’s sweeping tariffs
WASHINGTON -The U.S. economy added far more jobs than expected in March, but President Donald Trump’s sweeping import tariffs could undermine the labor market’s resilience in the months ahead amid sagging business confidence and a stock market selloff. The Labor…
South Africa not planning to retaliate over Trump’s tariffs
JOHANNESBURG -South Africa has no immediate plans to retaliate against the United States over tariffs announced by President Donald Trump this week and will instead seek to negotiate exemptions and quota agreements, senior government officials said on Friday. Trump imposed…
Fear grips financial markets as global trade war heats up
NEW YORK -Volatility measures across global financial markets jumped on Friday and Wall Street’s top “fear gauge” soared to an eight-month high as China imposed fresh tariffs on all U.S. goods in response to President Donald Trump’s sweeping levies. The…
UK’s FTSE 100 hits three-month low as tariff concerns cap difficult week
UK shares fell sharply on Friday and are poised to end the week with substantial losses, as recession fears intensified after China retaliated against U.S. President Donald Trump’s announcement of sweeping tariffs. As of 1110 GMT, the blue-chip FTSE 100…
Wall Street rout drags Nasdaq near bear market
Wall Street fell sharply for a second straight session on Friday, pushing the Nasdaq toward a bear market, after China imposed fresh tariffs on all U.S. goods in response to the Trump administration’s sweeping levies, escalating a global trade war….
Hedge funds sell largest amount of stocks since 2010, Goldman Sachs says
NEW YORK -Hedge funds across the world on Thursday sold global equities on a net basis at largest 1-day amount since 2010 amid a market meltdown, Goldman Sachs said in a note to clients on Friday. The bank said portfolio…
Trump administration violated court order by pausing FEMA grants, judge says
A federal judge ruled on Friday that U.S. President Donald Trump’s administration violated a court order by halting the disbursement of hundreds of millions of dollars in Federal Emergency Management Agency grants to states. U.S. District Judge John McConnell in…
US dollar rallies; Aussie hits five-year low after China tariff concerns
The U.S. dollar rose against major currencies such as the euro and yen on Friday after Federal Reserve Chairman Jerome Powell acknowledged the repercussions of larger-than-expected U.S. tariffs and signaled a cautious tone on future easing. Powell said tariffs increased…
Markets extend tariff plummet after Powell indicates Fed still in wait and see mode
Wall Street nosedived again on Friday, pushing the Nasdaq toward a bear market, after China imposed fresh tariffs on all U.S. goods in response to the Trump administration’s sweeping levies, escalating a global trade war. Losses in the S&P 500…
US oil rig count rises to highest since June, Baker Hughes says
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, even as the number of oil rigs rose to the highest since June, energy services firm Baker Hughes…
France calls for firm tariff response avoiding escalation
TOULOUSE, France -France’s industry minister called on Friday for a proportionate but firm response to U.S. tariffs and said Europe wanted to avoid a damaging trade escalation, with the door open to negotiation. Speaking to reporters at an Airbus factory…
Oil dives nearly 8% to lowest since pandemic on China’s retaliatory tariffs
HOUSTON-Oil prices plunged nearly 8% on Friday, heading for their lowest close since the middle of the pandemic in 2021, as China ramped up tariffs on U.S. goods, sharply escalating a global trade war that has investors worried about a…
German engineering firm braces for impact as US tariff wave hits
LAHNAU, Germany – After 25 years of building industrial equipment in the United States, German engineering firm WIWA faces a dilemma that could completely reshape its transatlantic operations after President Donald Trump implemented sweeping duties on foreign imports. Though it…
Canada loses jobs in March for first time since 2022 on tariff uncertainty
OTTAWA -Canada’s total employment fell and the unemployment rate ticked up in March, data showed on Friday, as the uncertainty around tariffs and their subsequent implementation forced companies to pause hiring and spurred some layoffs. The country shed a net…
Texas measles cases jump nearly 14% in three days
The Texas health department on Friday reported 59 new measles cases in three days, bringing the total to 481 in the state, while New Mexico added six more infections, as the disease spreads across the United States. Cases in Gaines…
Sri Lanka says it is committed to substantially reduce tariff and non-tariff barriers with US
NEW DELHI -Sri Lanka is ready to engage with the United States in strengthening trade relations, the island nation said on Friday, committing to substantially reduce tariff and non-tariff barriers that hinder trade and investment. U.S. President Donald Trump’s government…
Fed’s Powell: Larger-than-expected tariffs mean higher inflation, slower growth
WASHINGTON -President Donald Trump’s new tariffs are “larger than expected” and the economic fallout including higher inflation and slower growth likely will be as well, Federal Reserve Chair Jerome Powell said on Friday in remarks that pointed to the potentially…
Democratic-led states sue over Trump’s order overhauling elections
BOSTON -Democratic state attorneys general on Thursday filed a lawsuit challenging U.S. President Donald Trump’s executive order that compels voters to prove they are U.S. citizens and bars states from counting mail-in ballots received after Election Day. The lawsuit, filed…
Washington D.C.’s top prosecutor to probe alleged media leaks on Jan 6 cases, email says
WASHINGTON -Washington, D.C.’s top federal prosecutor announced on Friday that he is launching investigations into whether people improperly leaked information about the prosecutions of President Donald Trump’s supporters who stormed the U.S. Capitol on January 6, 2021. Interim U.S. Attorney…