(Reuters) – U.S. President Donald Trump is planning to spare carmakers from some tariffs following intense lobbying by industry executives over recent weeks, the Financial Times reported on Wednesday, citing a couple of people familiar with the matter. Car parts would be exempted from the tariffs Trump is imposing on imports from China over fentanyl. …
Trump to exempt carmakers from some US tariffs, FT says Read More »
By Michelle Conlin NEW YORK (Reuters) -President Donald Trump’s meme coin surged more than 60% on Wednesday after a post announcing “the most EXCLUSIVE INVITATION in the world” promised the top 220 buyers of $TRUMP a private gala dinner with the president on May 22. In addition to the dinner at Trump National Golf Club …
Dinner with the president: Trump meme coin surges on offer to top buyers Read More »
By Michael S. Derby NEW YORK (Reuters) -Conditions still support ongoing reductions in the Federal Reserve’s balance sheet, Cleveland Fed President Beth Hammack said on Wednesday, as she also noted that amid great uncertainty now is not the time to change monetary policy. “This is not a good time to be preemptive” with monetary policy, …
Fed’s Hammack sees more runway for Fed balance sheet cuts Read More »
By Michael Martina WASHINGTON (Reuters) -The leaders of a U.S. congressional committee on Wednesday moved to force China’s three telecom giants to cooperate with an investigation into their alleged support for the Chinese military and government, according to letters seen by Reuters. In a bipartisan effort, the House of Representatives’ select committee on China used …
US lawmakers subpoena China telecom giants over security concerns Read More »
By Renju Jose SYDNEY (Reuters) – Australia’s ruling centre-left Labor government on Thursday pledged an initial investment of A$1.2 billion ($763 million) to set up a strategic reserve of critical minerals as it looks to create a separate supply chain in a market dominated by China. Prime Minister Anthony Albanese, holding a slender lead in …
Australia’s Albanese pledges to set up critical minerals strategic reserve Read More »
By Stephen Culp NEW YORK (Reuters) -Wall Street stocks advanced on Wednesday on revived hopes for progress in the U.S.-China trade dispute and as President Donald Trump soothed fears the Federal Reserve could lose its autonomy with reassurances that he has “no intention of firing” Fed Chair Jerome Powell. All three major U.S. stock indexes …
Wall Street ends higher on hopes of trade war de-escalation Read More »
By Arsheeya Bajwa (Reuters) -Texas Instruments forecast second-quarter revenue above Wall Street estimates on Wednesday, betting on robust demand for its analog chips even as the threat of U.S. tariffs has stoked uncertainty across the semiconductor industry. The outlook, the first from a major U.S. chipmaker this earnings season, sent TI shares up more than …
Chipmaker TI’s rosy forecast soothes tariff worries, for now Read More »
By Trevor Hunnicutt and Timothy Aeppel WASHINGTON (Reuters) – President Donald Trump signed on Wednesday an order to improve job training for skilled trades, an initiative twinned with tariffs in his gambit to revive U.S. manufacturing. The Labor, Education and Commerce departments will focus on job needs in emerging industries including those enabled by artificial …
Trump pushes training for skilled trades that do not require college Read More »
By Rajesh Kumar Singh CHICAGO (Reuters) -Southwest Airlines became the latest U.S. carrier on Wednesday to withdraw its financial forecast as President Donald Trump’s trade war has created the biggest uncertainty for the industry since the COVID-19 pandemic. With little clarity on how consumers will behave in the face of a potentially worsening economy, airlines …
Southwest Airlines drops forecast as US trade war shakes industry Read More »
By Arsheeya Bajwa, Juby Babu (Reuters) -International Business Machines said 15 of its government contracts were shelved under a cost-cutting drive by the Trump administration, a setback that eclipsed its upbeat revenue forecast and dragged its shares down over 6% after hours. The federal consulting businesses of Big Blue’s rivals, such as Accenture, have also …
IBM says 15 contracts impacted by DOGE cost cuts, shares drop Read More »
