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…
Euro drops to three-week low before auto tariff announcement
NEW YORK -The dollar hit a three-week high against the euro and gained on the yen on Wednesday as traders awaited an announcement from U.S. President Donald Trump on auto tariffs. Traders worry that the trade levies will dent U.S….
Trading Day: ‘Tariff Man’ flexes muscles, markets cower
ORLANDO, Florida – TRADING DAY Making sense of the forces driving global markets Nasdaq slumps 2%, tariff fears intensify It was really only a matter when, not if, tariff fears cast a pall over Wall Street and global markets again,…
Energy leads UK shares higher after finance minister trims spending plans
British equities closed higher on Wednesday, buoyed by rising energy stocks, after finance minister Rachel Reeves pushed back government spending plans in a long-anticipated budget update. Both the blue-chip FTSE 100 and the FTSE 250 index gained 0.3%. Facing a…
Wall Street ends down sharply on tariff worries; Nvidia and Tesla drop
Wall Street stocks ended sharply lower on Wednesday, dragged down by losses in Nvidia and Tesla as investors awaited information about long-promised U.S. tariffs on automotive imports. U.S. President Donald Trump was set to announce plans for car-industry tariffs at…
Stocks tumble, dollar climbs as new tariff announcement eyed
NEW YORK -Global stocks dropped for the first time in three sessions on Wednesday and the U.S. dollar resumed its ascent as investors awaited the next tariff announcement from U.S. President Donald Trump. Trump was scheduled to hold a press…
Tokyo’s Japan Activation Capital raises $512 million in second fund from domestic investors
TOKYO – Tokyo-based investment firm Japan Activation Capital (JAC) said on Thursday it had closed its second fund at 77 billion yen ($511.93 million), bringing the total amount it has raised from domestic institutional investors to about 210 billion yen….
China’s industrial profits fall in January-February as economic risks mount
BEIJING -China’s industrial profits slipped in the first two months of 2025, signalling a challenging period ahead for businesses as they navigate persistent deflationary forces and an escalating trade war with the United States. The economy got off to an…
Trump’s 25% car tariff ignites international criticism
U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war he kicked off upon regaining the White House this year in a move auto industry experts…
US consumer agency seeks to vacate discrimination case it had already won
The top U.S. consumer finance agency on Wednesday asked a court to undo an enforcement case which the watchdog had already won last year, accusing prior agency officials of abusing their power as they sought to enforce diversity, equity and…
Dollar mixed, Mexican peso and Canadian dollar drop on auto tariffs
NEW YORK -The dollar was mixed on Thursday as traders mulled how severe tariffs scheduled to be revealed by U.S. President Donald Trump next week are likely to be, while the Canadian dollar and Mexican peso weakened after Trump announced…
Factbox-What’s in Trump’s new 25% tariffs on US auto imports?
President Donald Trump on Wednesday followed through on weeks of threats for new tariffs on imported cars, saying a 25% import tax on vehicles not built in the U.S. would kick in next week. Trump will impose a 25% tariff…
Exclusive-Italy pursues payment from Meta, X and LinkedIn in landmark tax case
MILAN – Italy has handed tax demands to Meta, X and LinkedIn in an unprecedented VAT claim against the U.S. tech giants that could have repercussions across the European Union, four sources with direct knowledge of the matter said on…
Oil approaches one-month highs as investors assess supply, trade war risks
NEW YORK – Oil prices edged higher on Thursday as traders assessed a tightening of crude supplies along with new U.S. tariffs and their expected effect on the world’s economy. Brent crude futures gained 24 cents, or 0.3%, to settle…
JSR’s incoming CEO signals focus on finances, retreat from sector M&A ambitions
TOKYO – The incoming CEO of Japanese chip materials maker JSR plans to focus on restoring the company’s business performance, shifting away from previous ambitions to drive consolidation in the sector. JSR’s financial performance is not good, and the company…
Robinhood to bring wealth management, private banking to retail investors
Robinhood is rolling out wealth management and private banking services for investors with modest portfolios, as the trading platform looks to have a bigger influence on its users’ financial habits. The company said on Wednesday it is launching ‘Robinhood Strategies’…
Trump says he may give China reduction in tariffs to get TikTok deal done
WASHINGTON – U.S. President Donald Trump said on Wednesday he would be willing to reduce tariffs on China to get a deal done with TikTok’s Chinese parent ByteDance to sell the short video app used by 170 million Americans. ByteDance…