Western automakers, from the Big Three to EV pure plays, are delivering the same stark warning: Chinese automakers pose a threat to their survival if domestic production isn’t protected. “China poses a clear and present threat to the auto industry in the U.S.,” wrote the Alliance for Automotive Innovation (AAI), a trade group that reps […]
(Bloomberg) — While US inflation has cooled from its pandemic-era peak, prices at grocery store meat counters are skyrocketing with no relief in sight. Beef costs have risen faster than most other items in the consumer price index, with the broad beef and veal category up 15% over the past year as of January. Uncooked […]
A significant tariff concession may be on the horizon, as the Trump administration acknowledged Friday that it could scale back some tariffs on goods containing steel and aluminium. A Friday report from the Financial Times outlined the White House’s plan to reduce tariffs on some products made with the metals, from ovens to drink cans. […]
The clock is ticking for cryptocurrency legislation in Washington, and a key White House adviser is sounding the alarm. “Let’s not let any moss grow here,” urged Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, on Yahoo Finance’s Opening Bid. Witt warned the window for passing the critical Clarity Act […]
President Donald Trump did himself no favors Wednesday night when he used public calls for retribution to strong-arm most House Republicans into backing his tariff agenda despite widespread voter discontent over the cost of living. Six ultimately defied him, voting with Democrats to pass legislation aimed at ending the White House’s duties on Canada. But […]
After Beijing slammed them shut about a decade ago, the gates have flung open again for Chinese firms to go on overseas acquisition sprees. In January alone, the volume of outbound mergers and acquisitions from Greater China approached $12 billion, the most for the first month of a year since 2017. The shopping list included […]
Gold slipped after robust US jobs data reduced expectations the Federal Reserve will move quickly to cut interest rates. Bullion retreated as much as 0.6% on Thursday, after adding 1.2% in the previous session. US payrolls rose by the most in more than a year and the unemployment rate fell unexpectedly in January, suggesting the […]
Opponents of President Trump’s tariffs on Capitol Hill scored a significant victory and opened the door to what are expected to be multiple votes targeting the president’s signature economic policy. First on Tuesday came a 217-214 vote to defeat a maneuver that would have kept tariff-related resolutions on hold until August. Then on Wednesday, Canada […]
The Labor Department will publish much-anticipated jobs data for January on Wednesday, as well as sweeping revisions to 2025 numbers that could show far fewer new positions were added to the US economy than previously thought. Private data released last week indicated the labor market remained bruising in January for out-of-work Americans, with little in […]
A much-anticipated labor market update isn’t due out until Wednesday morning, but the White House is already working to temper expectations. Members of President Trump’s team have offered multiple warnings that employment gains may disappoint Wall Street and have tried to downplay what a miss might indicate about the state of the US economy. “One […]
Britain said on Tuesday that homegrown chipmaker Fractile will invest 100 million pounds ($136.43 million) in its UK operations over the next three years, including a new hardware engineering facility to support the scale-up of its AI chip production. The investment from Fractile, a London-based computer chipmaker, will fund a larger UK-based engineering team and […]
Big Tech plans to spend hundreds of billions on AI this year, the industry leaders said this earnings season. In response, a stock sell-off followed as traders grew wary of the whole AI story. Looking for something safer, they went into energy stocks. Big Oil stocks, to be precise. Last week saw a sharp drop […]
