Reuters US Economy Archives - Page 218 of 866

Tiny Australian outposts, including some with no people, targeted by Trump tariffs

4 Apr 2025 4 Apr 2025

By Byron Kaye and Christine Chen SYDNEY (Reuters) – Australia’s remote, uninhabited islands in the Antarctic and a tiny territory with barely any exports found themselves caught up alongside global heavyweights in U.S. President Donald Trump’s sweeping tariff regime, leaving locals and officials baffled. Richard Cottle, owner of a concrete-mixing business on Norfolk Island, said …

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Dow on correction path as China strikes back against US tariffs

4 Apr 2025 4 Apr 2025

(Reuters) – The Dow fell 10% from its record closing high in December, putting it on track to confirm a correction on Friday, after China retaliated with fresh tariffs a day after the Trump administration announced sweeping levies on trade partners. A rout in global stocks continued as Beijing said it would slap additional tariffs …

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Scor under examination over former chair’s alleged acts related to a Covea deal

4 Apr 2025 4 Apr 2025

By Bertrand De Meyer (Reuters) -French reinsurance company Scor said on Friday it has been placed under examination by a Paris court for the alleged actions of its former chairman, Denis Kessler, in relation to Covea Group’s acquisition of PartnerRe in 2022. The company’s shares were down 12% as of 1106 GMT in a broadly …

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Brazil calls off June auction to secure long-term power capacity

4 Apr 2025 4 Apr 2025

SAO PAULO (Reuters) – Brazil’s government has cancelled a June 27 auction to secure long-term power capacity, a publication in the official gazette showed on Friday. The mines and energy ministry did not immediately provide reasons for the cancellation. Interested parties had already launched court challenges to the auction rules and a federal judge this …

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World food prices steady in March, UN’s FAO says

4 Apr 2025 4 Apr 2025

PARIS (Reuters) – Global food commodity prices edged up in March, with a sharp rise in vegetable oils offsetting declines in cereals and sugar, the United Nations’ Food and Agriculture Organization said on Friday. The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 127.1 points in …

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Trump tariffs sow fears of trade wars, recession and a $2,300 iPhone

4 Apr 2025 4 Apr 2025

By Jeff Mason, David Ljunggren and Satoshi Sugiyama WASHINGTON/OTTAWA/TOKYO (Reuters) – Countries around the world threatened to wage a trade war with the United States as President Donald Trump’s sweeping tariffs fed expectations for a global downturn and sharp price hikes for swathes of goods in the world’s biggest consumer market. The penalties announced by …

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Analysis-Italy defence drive could derail debt, hit ratings

4 Apr 2025 4 Apr 2025

By Sara Rossi and Valentina Consiglio MILAN (Reuters) – Italy’s pledges to increase defence spending to help Ukraine could scupper government efforts to rein in the mammoth public debt, analysts say, posing a threat to the creditworthiness of the euro zone’s third-largest economy. A European Union drive to hike military expenditure, in response to the …

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UAE non-oil business sector growth slows in March, PMI shows

4 Apr 2025 4 Apr 2025

DUBAI (Reuters) – Growth in the UAE’s non-oil private sector moderated in March, a survey showed on Friday, highlighting a softening in demand momentum in the Gulf region’s most diversified economy. The seasonally adjusted S&P Global Purchasing Managers’ Index (PMI) slipped to 54.0 last month from 55.0 in February, marking the slowest pace of growth …

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Trump tariffs slam markets, stunned investors brace for slow growth, retaliation

4 Apr 2025 4 Apr 2025

By Sinéad Carew, Lewis Krauskopf and Amanda Cooper NEW YORK/LONDON (Reuters) -Global investors grappled on Thursday with rising chances of an economic downturn and a sprawling trade war, as they scrambled for safe-haven assets to buffer against fallout from U.S. President Donald Trump’s sweeping tariffs. Markets were stunned late on Wednesday when Trump announced Washington’s …

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BOJ’s Ueda warns of hit to Japan economy from Trump tariffs

4 Apr 2025 4 Apr 2025

By Leika Kihara TOKYO (Reuters) -Bank of Japan Governor Kazuo Ueda said on Friday the central bank will scrutinise the impact of U.S. tariffs on the country’s economy when setting monetary policy, warning the higher levies will likely weigh on global and domestic economic growth. Global stock prices tumbled on Thursday after U.S. President Donald …

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