Donald Trump’s tariff war alienated longtime allies and gave China an opportunity to woo the world. Now Beijing’s hardball tactics are sparking a global pushback. China’s decision to unveil unprecedented export controls on the rare-earth supply chain dominated meetings at an annual huddle of global economic chiefs in Washington this week. Treasury Secretary Scott Bessent […]
Federal Reserve governor Chris Waller said Thursday he is in favor of trimming interest rates by another quarter percentage point at the end of this month, but after that he wants to move cautiously. The new comments from a top candidate to replace Fed Chairman Jerome Powell in 2026 implies Waller may be inclined to […]
Third-quarter profits at Bank of America (BAC) and Morgan Stanley (MS) surged 23% and 45%, becoming the latest banking giants to benefit from a Wall Street dealmaking boom. Bank of America posted net income of $8.47 billion while Morgan Stanley reported $4.6 billion. Both figures were more than $1 billion higher than what analysts saw […]
President Donald Trump has in the span of just four days fired thousands of government employees, transferred billions in federal funds and threatened to unilaterally cancel “Democrat programs” — all during a shutdown and without Congress’s approval. The moves, playing out against the backdrop of a stalemate over federal spending now entering its third week, […]
Silver prices touched an all-time high above $52.50 an ounce, as a historic short squeeze in London added momentum to a rally that’s been fueled by surging demand for safe-haven assets. Spot prices rose as much as 0.4% to $52.5868 an ounce in London, surpassing a peak set in January 1980 on a now-defunct contract […]
The country’s biggest Wall Street banks are riding high into the third quarter reporting season. Analysts expect profits among six major banks to climb 6% from the third quarter of last year, according to Bloomberg data. “It’s been a good environment,” Barclays analyst Jason Goldberg said. Expectations will be put to the test starting Tuesday […]
The country’s biggest Wall Street banks are riding high into the third quarter reporting season. Analysts expect profits among six major banks to climb 6% from the third quarter of last year, according to Bloomberg data. “It’s been a good environment,” Barclays analyst Jason Goldberg said. Expectations will be put to the test starting Tuesday […]
President Trump posted a statement on Sunday that hinted at a possible de-escalation of trade tensions between the US and China, while at the same time issuing a veiled threat to China’s President Xi Jinping. “Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t […]
Forgive the alliteration, but Korean automaker Kia (000270.KS) is killing it. New models like the Sorento crossover, K4 sedan, and, of course, the ubiquitous Telluride three-row SUV are everywhere, it seems. And then there are the electric EV6 and EV9. Those vehicles led Kia to smash sales expectations again, with September US sales hitting a […]
China accused the US of Cold War-era intervention in Latin America after Treasury Secretary Scott Bessent suggested Argentina’s president was “committed to getting China out.” Bessent made his comments on Fox News on Thursday as the US offers a $20 billion US financial lifeline to Argentina and President Javier Milei prepares to visit Donald Trump […]
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, […]
