Republicans divided on spending cuts as they try to pay for Trump’s tax cuts
WASHINGTON -U.S. congressional Republicans are struggling over how to pay for President Donald Trump’s multi-trillion-dollar tax-cut and immigration reform agenda, with the fate of the Medicaid healthcare program and the nation’s debt ceiling hanging in the balance. The debate has…
Exclusive-White House installs Trump loyalists at federal HR agency after ‘five things’ email
WASHINGTON – The White House has installed two Trump loyalists at the federal HR agency after allies of billionaire Elon Musk blindsided top Trump officials with a surprise government-wide email last month demanding workers summarize five things they achieved at…
Exclusive-Trump administration is pointing spy satellites at US border
WASHINGTON -The Trump administration has directed two intelligence agencies to train their satellite surveillance capabilities on the U.S.-Mexico border region as part of a sweeping crackdown on illegal immigration and drug cartels. The National Geospatial-Intelligence Agency (NGA) and the National…
These universities are in Trump’s crosshairs. Many don’t know why
NEW YORK -When Muhlenberg College learned in January 2024 – as pro-Palestinian protests were sweeping campuses across the United States – that it was under investigation for discriminating against Jewish students, the small liberal arts institution in Pennsylvania took action….
Kennedy to slash 10,000 jobs in major overhaul of US health agencies
WASHINGTON -U.S. Secretary of Health and Human Services Robert F. Kennedy Jr. announced plans to reshape federal public health agencies on Thursday, including cutting 10,000 employees and centralizing some functions of the FDA, CDC and others under his purview. The…
Brazil central bank raises long-term inflation forecasts, sees challenging path to target
BRASILIA – Brazil’s central bank raised its inflation projections on Thursday for the long-term despite anticipating weaker economic activity this year, and said that this scenario makes reaching its 3% target challenging. After forecasting inflation at 5.1% for 2025 last…
Global Eggs agrees to buy Hillandale Farms for $1.1 billion
SAO PAULO -Global Eggs, a company controlled by Brazilian entrepreneur Ricardo Faria, has agreed to buy U.S. egg producer Hillandale Farms for $1.1 billion, Faria told Reuters on Thursday. Global Eggs is based in Luxembourg and also operates Granja Faria…
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…
EU Commission looks to cut overlap in tech directives -Virkkunen
AMSTERDAM – The European Commission is looking at ways to cut overlap in tech rules in response to complaints from business about the flood of new EU regulations in recent years, digital chief Henna Virkkunen said on Thursday. Outside a…
DOJ launches deregulatory task force
The U.S. Department of Justice launched a deregulatory task force on Thursday to advocate against regulations that could harm competition, especially in markets that affect consumers such as agriculture, housing, transportation, healthcare and energy. The DOJ’s Anticompetitive Regulations Task Force…
US natgas prices climb 2% on decline in daily output, record LNG flows
U.S. natural gas futures climbed about 2% on Thursday on a decline in daily output, record flows to liquefied natural gas (LNG) export plants and forecasts for more demand this week than previously expected. On its last day as the…
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…
Factbox-Energy assets affected by Russia-West standoff and sanctions
The United States reached separate deals on Tuesday with Ukraine and Russia to halt attacks at sea and against energy targets, with Washington agreeing to push to lift some sanctions against Moscow. The potential easing of U.S. and EU sanctions…
Ferrari says U.S auto tariffs will not impact 2025 financial targets
ROME – Italian luxury sports carmaker Ferrari said on Thursday its financial targets for this year will remain unchanged despite the new auto tariffs imposed by the United States. The U.S. on Wednesday announced a 25% tariff on auto imports…
Exclusive-Energy trader Vitol eyes $3 billion sale of US shale producer, sources say
NEW YORK – Global commodities trader Vitol is exploring a sale of its VTX Energy Partners business, in a deal that could value the U.S. shale oil and gas producer at as much as $3 billion, including debt, people familiar…
Exclusive-IAG will consider selling 20% stake in Air Europa, CEO says
BRUSSELS -British Airways-owner IAG will consider selling its 20% stake in Air Europa as the Spanish airline’s owner continues talks with Air France-KLM and Lufthansa to sell a stake in the company, IAG’s CEO told Reuters. The move comes as…
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…
Wolfspeed names chip industry veteran Robert Feurle as CEO
Chipmaker Wolfspeed said on Thursday it appointed industry veteran Robert Feurle as its CEO, months after its board ousted former top boss Gregg Lowe. Feurle, who has previously spent a decade in executive roles at Micron Technology, will succeed Thomas…
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…
Walmart Mexico to invest $6 billion in 2025
MEXICO CITY -Walmart’s Mexico unit said on Thursday it would invest more than $6 billion in the country this year, around triple its planned spending from the year before. The funds will go toward opening new stores and to continue…
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…
Zimbabwe president fires army chief ahead of planned protests
HARARE – Zimbabwe President Emmerson Mnangagwa acted to consolidate his hold on power with Tuesday’s dismissal of a senior general, political analysts say, amid growing fears of a possible coup by former allies. Mnangagwa, who took charge after a military…