SINGAPORE (Reuters) -President Donald Trump signed an executive order on Thursday imposing tariffs ranging from 10% to 41% on U.S. imports from dozens of countries and foreign locations. Rates were set at 25% for India’s U.S.-bound exports, 20% for those from Taiwan and 30% for those from South Africa. Trump also signed an executive order …
Investors react to Trump’s new tariffs announcement Read More »
By Renju Jose and Lucy Craymer SYDNEY/WELLINGTON (Reuters) -Australian products could become more competitive in the U.S. market, helping businesses boost exports, Trade Minister Don Farrell said on Friday, after U.S. President Donald Trump kept the minimum tariff rate of 10% for Australia. Trump set higher import duties of 10% to 41%, starting in seven …
Australia eyes more US exports as Trump holds tariffs at 10% Read More »
By Stephen Nellis and Akash Sriram SAN FRANCISCO (Reuters) -Apple forecast revenue for the current quarter ending in September well above Wall Street’s estimates on Thursday, sending shares up despite a warning from CEO Tim Cook that U.S. tariffs would add $1.1 billion in costs over the period. As the centerpiece of U.S. President Donald Trump’s …
Apple revenue forecast beats estimates, tariff costs projected at $1.1 billion Read More »
By Marius Zaharia and Claire Fu HONG KONG/SINGAPORE (Reuters) -Dwindling job and income prospects in China are fuelling intense social media chatter about the fashion and culture of the country’s high-growth period 20 years ago, in what analysts describe as a way to express discontent about the economy without attracting censorship. The hashtag phrase “beauty …
China’s weak job market stirs boom-era nostalgia on social media Read More »
By Summer Zhen and Samuel Shen HONG KONG/SHANGHAI (Reuters) -Fintech companies are rushing to raise equity in Hong Kong to fund expansions in cryptocurrencies, capitalising on investor fervour as the city starts accepting applications for stablecoin issuer licences on Friday. At least 10 Hong Kong-listed companies raised a total of more than $1.5 billion from …
Fintech firms rush to raise equity in Hong Kong to tap crypto frenzy Read More »
(Reuters) -The U.S. Army on Thursday said it was consolidating dozens of contracts into a single enterprise deal with Palantir, giving it volume-based discounts and the option to purchase up to $10 billion from the software provider over 10 years. The deal does not commit the Army to any new purchases, it said in a …
US Army pools contracts into up to $10 billion Palantir deal Read More »
By Nupur Anand and Ateev Bhandari (Reuters) -U.S. lender Wells Fargo said on Thursday its board of directors planned to appoint the lender’s CEO Charlie Scharf as its chairman and to award him a one-time special equity grant of $30 million in restricted share rights and stock options. The bank said in a statement the …
Wells Fargo board to appoint CEO Scharf as chairman and grant $30 million award Read More »
SAO PAULO (Reuters) -Brazilian steelmaker Gerdau on Thursday reported an 8.6% decline in its second-quarter adjusted net profit year-on-year, slightly below analysts’ expectations despite stronger performance of North American operations due to U.S. tariffs. Brazil’s largest steelmaker by market capitalization and the owner of mills across the Americas, Gerdau posted an 864 million reais ($154.26 …
Gerdau’s adjusted profit falls near 9% in Q2, tariffs boost US operations Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks closed lower on Thursday as early gains faded, following the latest round of corporate earnings and economic data, as investors awaited results from megacaps Amazon and Apple due after the closing bell. Microsoft shares rose 3.5% after it posted a strong earnings report and briefly surpassed the …
Equities stall as early enthusiasm ebbs; Amazon, Apple earnings due Read More »
WASHINGTON (Reuters) -U.S. President Donald Trump signed an executive order on Thursday increasing tariffs on Canadian goods to 35% from 25%, the White House said. The new rates goes into effect on August 1. “In response to Canada’s continued inaction and retaliation, President Trump has found it necessary to increase the tariff on Canada from …
Trump increases tariff on Canada to 35%, White House says Read More »
