By David Randall NEW YORK (Reuters) – The typical summer slowdown in U.S. stock markets may be more pronounced this year with inflation jitters and an early presidential debate that have the potential to weigh on a rally that has pushed the S&P 500 near record highs in recent months. The S&P 500 is up…
WASHINGTON (Reuters) – The U.S. Trade Representative’s (USTR) office on Friday announced a further extension of all China Section 301 tariff exclusions on 352 Chinese import and 77 pandemic-related categories through June 14, and said some would be extended through May 31, 2025. WHY IT’S IMPORTANT The administration of former President Donald Trump used Section…
SHANGHAI (Reuters) – Tesla has cut output of its best-selling Model Y electric car by a double-digit percentage number at its Shanghai plant since March, according to industry data and a source. The move is aimed at addressing weakening demand for the U.S. automaker’s aged model in China, its second largest market into which a…
(Reuters) – Blackstone CEO Stephen Schwarzman will support Donald Trump as the former president looks to return to the White House, Axios reported on Friday. Schwarzman, one of the biggest political donors on Wall Street, plans to donate to Trump and various Republican Senate candidates, the report said, citing a statement from the CEO. Long…
By Fanny Potkin SINGAPORE (Reuters) – Nvidia’s most advanced AI chip it developed for the China market has got off to a weak start, with abundant supply forcing it to be priced below a rival chip from Chinese tech giant Huawei, according to sources familiar with the matter. The flattening prices underscore the challenges Nvidia’s…
By Bernard Orr and Yimou Lee BEIJING/TAIPEI (Reuters) – China staged mock missile strikes and dispatched fighter jets carrying live missiles and bombers on Friday, state television CCTV said, as part of two-day exercises Beijing has said were launched to punish Taiwan’s new president, Lai Ching-te. The bombers set up several attack formations in waters…
By Maria Martinez and Christian Kraemer BERLIN (Reuters) – The implementation of the second pillar of the global minimum tax deal is Germany’s priority and further ideas should not be discussed until there is an agreement on the first pillar, German Finance Minister Christian Lindner said on Friday. “In the second pillar we already have…
(Reuters) -Lucid Group said on Friday it would reduce its workforce by 6%, or around 400 employees, as the electric vehicle industry grapples with slower growth. Shares of the EV maker rose around 2% in premarket trading. The company expects to incur a total of around $21 million to $25 million in charges related to…
