WASHINGTON (Reuters) – The United States is considering offers from 15 countries on tariff agreements and is close to deals with some of them, White House economic adviser Kevin Hassett said on Thursday after President Donald Trump lowered some of the duties in a stunning reversal. “USTR has informed us that there are maybe 15 …
US close to trade deals with trading partners, White House’s Hassett says Read More »
By Pete Schroeder WASHINGTON (Reuters) – Federal Reserve Governor Michelle Bowman told lawmakers on Thursday that she would overhaul how the U.S. central bank monitors large banks, encourage innovation, and pursue “pragmatic” rules for the financial system. Testifying before the U.S. Senate Banking Committee, Bowman said the current regulatory system should be streamlined. If confirmed …
Fed’s Bowman vows ‘pragmatic’ rulemaking as top bank regulator Read More »
By Manya Saini and Niket Nishant (Reuters) – Heightened uncertainty fueled by the on-and-off U.S. tariffs will likely take center stage as the nation’s regional banks gear up to report first-quarter results next week, with investors tracking signs of stress in asset quality. President Donald Trump’s decision to pause many of his new reciprocal tariffs …
US regional banks face results test as tariffs trigger uncertainty, growth worries Read More »
By Kalea Hall DETROIT (Reuters) – General Motors is laying off workers at its all-electric Factory Zero plant in Detroit where it is adjusting production “to align with market dynamics,” the company said Thursday. About 200 workers at the plant will be temporarily laid off, according to a company source. The move is not related …
GM to lay off 200 workers at all-EV plant as it adjusts production Read More »
(Reuters) – Goldman Sachs on Thursday cut its estimate for automobile sales in the U.S. for this year by nearly 1 million units, as President Donald Trump’s tariffs make it more expensive to buy a vehicle. While Trump on Wednesday halted reciprocal tariffs on countries, barring China, for 90 days, the announcement did not appear …
Goldman cuts US auto sales estimate by nearly 1 million units due to tariffs Read More »
By Greg Bensinger and Deborah Mary Sophia (Reuters) – Amazon chief executive Andy Jassy on Thursday justified the company’s billions of dollars in outlays for artificial intelligence development, saying the investment was necessary to remain competitive. “If your mission is to make customers’ lives better and easier every day, and you believe every customer experience …
Amazon CEO sets out AI investment mission in annual shareholder letter Read More »
By Ana Mano SANTOS (Reuters) – Brazil’s Santos Port Authority, which administers the largest port in the Southern Hemisphere, said the draft of the port will be deepened to attract larger vessels in coming years. Speaking at the headquarters of the Santos Trade Association, Beto Mendes, director of port operations, said on Thursday the plan …
Brazil’s Santos port seeks to attract larger vessels Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) – South Africa is considering offering additional incentives to automakers to help cushion the impact of U.S. President Donald Trump’s tariffs on cars, Trade, Industry and Competition Minister Parks Tau said on Thursday. “What we’re currently considering is the possibility of expanding the automotive industry production plan so that we’re …
South Africa considering auto industry incentives as tariff buffer Read More »
By Howard Schneider WASHINGTON (Reuters) – Kansas City Federal Reserve President Jeff Schmid said on Thursday he will remain “squarely focused” on inflation and the risk new U.S. import taxes could shift prices higher and feed into rising public inflation expectations. “I intend to keep my eye squarely focused on the outlook for inflation,” Schmid …
Kansas City Fed’s Schmid to stay focused on inflation in light of tariff risks Read More »
By Marcela Ayres BRASILIA (Reuters) – Brazil’s government is preparing an extra auction this year of stakes in offshore oil areas to boost revenue, a plan gaining steam amid falling oil prices and rising global trade uncertainty, said four people familiar with the matter. Two of the sources, who spoke on condition of anonymity, said …
Exclusive-Brazil prepares new oil auction as trade war threatens budget, sources say Read More »
