Business & Finance News
Shares of global automakers and suppliers tumbled on Friday after U.S. President Donald Trump threatened to impose tariffs on imports from Mexico, potentially upending a global manufacturing business model established decades ago.
U.S. stocks fell broadly on Friday, hit by fears that President Donald Trump’s shock threat of tariffs on Mexico could prove the trigger that pushes the world’s largest economy into recession.
White House trade adviser Peter Navarro said in a television interview on Friday that he believes Mexico will respond “favorably” to U.S. President Donald Trump’s demand that the country stop illegal immigration or face ratcheting tariffs.
U.S. stocks opened sharply lower on Friday, hit by fears that President Donald Trump’s shock threat of tariffs on Mexico could prove the trigger that pushes the world’s largest economy into recession.
Mexico’s president said on Friday he would respond with “great prudence” to threats by his U.S. counterpart Donald Trump to slap tariffs on Mexican goods entering the United States, and called on Mexicans to unite to deal with the challenge.
U.S. consumer prices increased by the most in 15 months in April, which could support the Federal Reserve’s contention that recent low inflation readings were transitory and allow the central bank to keep interest rates unchanged for a while.
The board of Renault will meet on Tuesday to discuss Fiat Chrysler’s merger offer, the French carmaker said, as Finance Minister Bruno Le Maire reiterated the government’s conditional support for the tie-up.
Mexico’s president said Friday he would respond with “great prudence” to threats by his U.S. counterpart Donald Trump to slap tariffs on Mexican goods entering the United States, and called on Mexicans to unite to deal with the challenge.
The United States raised the pressure on Western allies in a war of attrition over next-generation networks on Friday, saying countries that allow China’s Huawei to build their telecoms infrastructure could be cut off from crucial intelligence data.
Safe-haven sovereign bonds surged and European stocks tumbled on Friday as investors feared President Donald Trump’s shock threat of tariffs on Mexico risked tipping the United States into recession while disappointing China data added to the woes.
China threatened on Friday to unveil an unprecedented hit-list of “unreliable” foreign firms, groups and individuals that harm the interests of Chinese companies, as a slate of retaliatory tariffs on imported U.S. goods was set to kick in at midnight.
Canada’s Digital Charter lacks sufficient legal enforcement power to effectively protect privacy and regulate use of personal data, according to critics worried that a smart city project in Toronto by Alphabet’s Sidewalk Labs unit could be misused for mass surveillance.
A rare public call by a U.S. Federal Trade Commission (FTC) official for one of the agency’s courtroom victories to be reversed, in a case of anticompetitive business practices by chipmaker Qualcomm Inc, charts a strong course for a judge’s ruling to be overturned on appeal, some legal experts said.
After President Donald Trump announced higher tariffs on Chinese imports earlier this month, Francis O’Brien slapped a new 4% fee on every item of furniture he sells.
Regulators need to step up risk assessments of the cryptocurrency sector as current rules are patchy, and quick technological change may lead to gaps in policies on digital money, the global financial stability watchdog said.
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