President Donald Trump’s decision to establish official government cryptocurrency reserves in the US has drawn criticism from industry watchers. He has signed an executive order creating what he calls a Strategic Bitcoin Reserve as well as a Digital Asset Stockpile, which will consist of other forms of digital currency. The funds will be stocked with coins forfeited […]
The Trump administration’s massive federal cuts and swelling feelings of economic uncertainty helped fuel a recession-level spike in layoff plans last month, new data showed Thursday. US-based employers last month announced plans to slash 172,017 jobs, a 103% increase from a year ago and the highest February total since 2009, according to Challenger, Gray & Christmas’s latest monthly job […]
BEIJING (Reuters) -China’s imports unexpectedly shrank over the January-February period, while exports lost momentum, as escalating tariff pressures from the United States cast a shadow over the recovery in the world’s second-largest economy. The first two months of the year saw the opening salvo of a renewed U.S.-China trade war, with U.S. President Donald Trump […]
The February jobs report out Friday offered few surprises for investors, with job gains increasing slightly and the unemployment rate rising to 4.1% amid heightened investor fears over the trajectory of the US labor market and the broader economy. Data from the Bureau of Labor Statistics released Friday showed 151,000 new jobs were created in February, less than the […]
Gap on Thursday posted another quarter that blew away expectations, indicating its turnaround under CEO Richard Dickson is working better – and faster – than Wall Street anticipated. Shares jumped 17% in extended trading Thursday. The apparel retailer behind Old Navy, Banana Republic, Athleta and its namesake banner beat expectations on the top and bottom lines […]
Walgreens Boots Alliance is being taken private in a deal valued up to $23.7 billion, following a largely disastrous run on the public markets where its market cap has lost billions and more than 10% of its locations have closed. It brings an end to nearly 100 years as a publicly traded company. After opening […]
In the waning days of 2024, as the world braced for the start of the second Trump presidency, there was a theory making the rounds that went like this: Sure, economists said his agenda could spell disaster but there’s at least one institution that would be able rein in Trump’s worst instincts — Wall Street! […]
When President Donald Trump declared in the House Chamber this week that executives at the nation’s top automakers were “so excited” about their prospects amid his new tariff regime, it did not entirely reflect the conversation he’d held with them earlier that day. Ford Motors, GM and Stellantis argued on that call that the new […]
SINGAPORE, March 4 (Reuters) – Markets no longer think Donald Trump is full of bluster and are moving quickly to anticipate a slowdown in U.S. and global growth as he raises a wall of tariffs around the world’s biggest economy and trading partners start to respond in kind. Six weeks into his second term, the […]
March 5 (Reuters) – U.S. President Donald Trump has hailed a deal led by U.S. firm BlackRock (BLK.N), opens new tab to buy most of the $22.8 billion ports business of Hong Kong conglomerate CK Hutchison (0001.HK), opens new tab which includes assets along the Panama Canal. The deal will give the U.S. consortium control […]
President Donald Trump has said he is moving forward with 25% tariffs on goods imported from Canada and Mexico into the US, adding that time had run out to reach a deal. US stock markets sank in response to the measures, which he has threatened since earlier this year and said would now go into […]
South Korean defense stocks rose Tuesday, in line with a broad-based pickup in defense names globally, as the Russia-Ukraine war fuels security concerns. Gains among South Korean names were led by Hanwha Aerospace, Korea Aerospace Industries, Hyundai Rotem and LIG Nex1. Shares in Hanwha Aerospace surged as much as 16.67%, while Hyundai Rotem shares rose […]
