President Donald Trump said he was making good on threats to fire thousands of federal workers amid a government shutdown now in its 10th day, with job cuts across agencies including the departments of Health and Human Services, Homeland Security and Commerce. “It’ll be a lot, and we’ll announce the numbers over the next couple […]
(Bloomberg) — President Donald Trump announced a deal with AstraZeneca Plc to slash consumer prices on some of the company’s drugs in exchange for tariff relief, in the second major deal between the White House and a pharmaceutical company seeking to reduce healthcare costs for Americans. “AstraZeneca, the largest pharmaceutical manufacturer in the United Kingdom, […]
China slapped new port fees on US ships and started an antitrust investigation into Qualcomm Inc. (QCOM), the latest in a string of tit-for-tat moves as Presidents Xi Jinping and Donald Trump jockey for leverage before a key meeting to discuss trade and other issues. Beijing’s Transport Ministry announced Friday that it will begin collecting […]
Silver jumped for a second day near a record as a historic tightening of the London spot market added steam to a rally driven by demand for safe haven assets. Spot prices rose as much as 3.7% above $51 an ounce, while the cost of borrowing the precious metal for one month in London soared […]
(Bloomberg) — Spot gold smashed through $4,000 an ounce for the first time, as concerns over the US economy and a government shutdown added fresh momentum to a scorching rally. It’s a milestone for bullion, which traded below $2,000 just two years ago, with returns that now well outstrip those for equities this century. Gold […]
There was some division at the Federal Reserve’s last meeting about whether to cut interest rates and by how much, though most agreed the central bank could cut rates further in 2025. “Most judged that it likely would be appropriate to ease policy further over the remainder of this year,” according to the minutes from […]
(Bloomberg) — The US Senate confirmed Ben Black to lead the International Development Finance Corp., placing the son of billionaire Leon Black at the helm of a lending agency that has become central to several of President Donald Trump’s major initiatives. Black has made it clear he wants to connect Wall Street with the obscure […]
Fed officials are still split about how much to cut interest rates as the government shutdown deprives policymakers of key data, with some worried more about inflation and others more concerned about the job market. The newest Fed governor appointed by President Trump, Stephen Miran, reiterated Tuesday that he wants to reach a so-called neutral […]
(Bloomberg) — A once-popular currency trade betting against the yen looks set to make a comeback, as Sanae Takaichi’s near-certain elevation to Japan’s premiership raises the prospect of slower interest-rate hikes. Japan’s currency dropped against all of its major peers on Monday, as investors wagered that Takaichi’s pro-stimulus stance would result in a slower timeline […]
(Reuters) -Tesla is expected to unveil on Tuesday a more affordable version of its best-selling Model Y SUV, as the electric vehicle maker seeks to reverse falling sales and waning market share amid rising global competition. Chief Executive Elon Musk for years has promised mass market vehicles, though last year he canceled plans to build […]
(Reuters) -Tesla (TSLA) on Sunday teased an October 7 event, as investors and analysts await a more affordable model to sustain sales momentum, sending shares of the company 2% higher in premarket trading. In a nine-second video posted on social media platform X, the Elon Musk-led automaker showed a vehicle with its headlights illuminated in […]
Bitcoin set a fresh record on Sunday for the first time since mid-August, as the US government shutdown drove investors to safe-haven assets in a migration dubbed the “debasement trade.” The largest digital asset climbed to $125,689 over the weekend, according to data compiled by Bloomberg. It remained in touching distance of its all-time high […]
