Day: February 3, 2025
European markets set to plummet amid Trump tariff threat
European markets are expected to open sharply lower Monday after U.S. President Donald Trump imposed trade tariffs on several countries and threatened to do the same with the European Union and U.K. The U.K.’s FTSE 100 index is expected to open 116 points lower at 8,563, Germany’s DAX down 498 points at 21,217, France’s CAC down […]
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SoftBank commits to joint venture with OpenAI, will spend $3 billion per year on OpenAI’s tech
Jaque Silva | Nurphoto | Getty Images SoftBank has committed to spending $3 billion per year for itself and its subsidiaries to use OpenAI’s tech, according to a joint announcement on Monday. The two also announced a new joint venture, billed as “SB OpenAI Japan,” which will market OpenAI’s enterprise tech exclusively to major companies […]
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Trump tariffs-led spike in energy prices is temporary, oil prices could ‘plummet’ as global growth slows
Oil field, Alberta, Canada Norm Betts | Bloomberg | Getty Images Oil prices are likely to fall in the longer run after the initial jump following President Donald Trump’s implementation of hefty tariffs on Canada, Mexico and China, said industry watchers. Over the weekend, Trump followed through on his long-threatened 25% tariffs on imports from […]
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South Korea has a big household debt problem. The country’s unique rental system may be to blame
Illuminated residential buildings and houses at dusk in Mokpo, South Korea, on Friday, Aug. 16, 2024. Bloomberg | Bloomberg | Getty Images Central banks, by and large, have one overarching mandate: to ensure price stability and control inflation in a country. Policymakers in South Korea need to contend with another responsibility: managing high household debt. […]
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Rubio tells Panama to end China’s influence of canal or face U.S. action
TOPSHOT – U.S. Secretary of State Marco Rubio (L) shakes hands with Panama Canal Authority Administrator Ricaurte Vasquez during a tour at the Miraflores locks of the Panama Canal in Panama City on February 2, 2025. Mark Schiefelbein | Afp | Getty Images U.S. Secretary of State Marco Rubio on Sunday warned Panama’s President Jose Raul Mulino that […]
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China’s January factory growth misses expectations as exports decline ahead of U.S. tariffs, Caixin PMI shows
Workers making Care Bears at a factory in Ankang, China. CNBC China’s factory activity slowed in January as export orders dwindled ahead of additional U.S. tariffs that are set to come into effect Tuesday, a private-sector survey showed Monday. The seasonally adjusted Caixin/S&P Global manufacturing purchasing manager’s index came in at 50.1 in January, missing […]
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Israel’s Netanyahu heads to US to discuss ‘victory over Hamas’ with Trump
WASHINGTON, DC – JULY 24: Israeli Prime Minister Benjamin Netanyahu speaks to reporters alongside Speaker of the House Mike Johnson (R-LA) at the U.S. Capitol Building on July 24, 2024 in Washington, DC. Anna Moneymaker | Getty Images News | Getty Images Israeli Prime Minister Benjamin Netanyahu said Sunday he will discuss “victory over Hamas,” countering Iran […]
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Trump tariffs take aim at trade loophole used by Chinese online retailers like Temu and Shein
Shein and Temu icons are seen displayed on a phone screen in this illustration photo taken in Krakow, Poland on August 27, 2024. Jakub Porzycki | Nurphoto | Getty Images President Donald Trump’s tariffs against China, Canada and Mexico target a trade provision that helped fuel the explosive growth of budget online retailers, including Temu […]
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Bitcoin dips below $97,000 after Trump orders tariffs, smaller cryptocurrencies tumble
U.S. President-elect Donald Trump and Bitcoin. Cheney Orr | Dado Ruvic | Reuters Cryptocurrencies tumbled on Sunday in a risk-off move after President Donald Trump hit Canada, Mexico and China with long-threatened import tariffs. The price of bitcoin was last lower by 3%, according to Coin Metrics, a modest loss compared to the broader crypto […]
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Asia-Pacific markets slide after Donald Trump’s sweeping tariffs on several countries
View of the central business district skyline at sunset in Beijing, China. Sheng Peng | Visual China Group | Getty Images Asia-Pacific markets opened lower Monday after U.S. President Donald Trump levied tariffs on Canada, Mexico and China over the weekend. Australia’s S&P/ASX 200 dropped 1.86%. Japan’s Nikkei 225 fell 1.84% at the open, while […]
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