Tesla boss Elon Musk has pledged to “significantly” cut back his role in the US government after the electric car firm reported a huge drop in profit and sales for the start of this year. Musk has led the newly created advisory body – the Department for Government Efficiency (Doge) – since last year, putting […]
SAP on Wednesday posted a 58% year-on-year jump in first-quarter operating profit in constant currency, also confirming its outlook for full-year cloud revenues. SAP’s operating profit hit 2.5 billion euros ($2.9 billion) in the first quarter, compared with analysts expectations near 2.2 billion euros, according to LSEG data. Shares of the company popped 9.3% by 8:59 a.m. […]
The global shipping company DHL says it will stop shipping packages over $800 in value to U.S. consumers in response to new, more stringent U.S. customs rules. The carrier cited the 10% tariffs implemented by the Trump administration in early April, which it says had the effect of subjecting parcels worth over $800 to increased […]
As Google heads back to the courtroom Monday, the company is arguing that the U.S. needs the company in its full form to take on chief adversary China and uphold national security in the process. The remedies trial in Washington, D.C., follows a judge’s ruling in August that Google has held a monopoly in its core market of internet […]
April 21 (Reuters) – Wall Street’s main indexes opened down on Monday after U.S. President Donald Trump’s renewed attacks against Federal Reserve Chair Jerome Powell sparked concerns about the central bank’s independence and rattled investors grappling with an escalating trade war. The Dow Jones Industrial Average (.DJI), opens new tab fell 236.2 points, or 0.60%, […]
Gold prices broke $3,400 on Monday, hitting a new record as President Donald Trump’s threats against the Federal Reserve’s independence and his tariffs shake investor confidence in the U.S. economy. Gold futures jumped about 2.69% to $3,418 per ounce by 8:20 a.m. ET on Monday, with investors buying the precious metal as the dollar hit a three-year […]
WASHINGTON, April 18 (Reuters) – White House economic adviser Kevin Hassett on Friday said President Donald Trump and his team were continuing to study if they could fire Federal Reserve Chair Jerome Powell, a sign that such a move, a matter of great consequence for the central bank’s independence and for global markets, is still […]
U.S. District Judge Amy Berman Jackson on Friday halted the Consumer Financial Protection Bureau’s attempt to lay off the vast majority of its employees and gut the agency. Her order comes after the CFPB had sent reduction-in-force notices to more than 1,400 staffers across the agency on Thursday. The CFPB had proceeded with layoffs after […]
Stock futures rose Sunday after a temporary reprieve from tariffs on electronic imports from China by the Trump administration. Dow futures were up 0.5%, or 212 points. The S&P 500 futures rose 0.75%, while the tech-heavy Nasdaq Composite futures gained 1.26%, as of 6:18 pm ET. The Trump administration late Friday exempted electronic imports from […]
U.S. President Donald Trump on Sunday said he would be announcing the tariff rate on imported semiconductors over the next week, adding that there would be flexibility with some companies in the sector. The president’s pledge means that the exclusion of smartphones and computers from his reciprocal tariffs on China likely will be short-lived as […]
General Motors’ all-electric CAMI Assembly plant in Ontario is halting production of BrightDrop delivery vans, Unifor said Friday. Unifor is Canada’s largest private sector union, representing 320,000 workers. The company will initiate temporary layoffs starting April 14 and production will stall for three weeks, Mike Van Boekel, plant chair for Unifor Local 88, which represents […]
DETROIT — As President Donald Trump’s 25% tariffs on imported vehicles remain in effect despite a pullback this week on other country-based levies, analysts are expecting massive global implications for the automotive industry due to the policies. They’re expecting to see a drop in vehicle sales in the millions, higher new and used vehicle prices, and increased costs of […]
