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  • May 04, 2025

Australia markets welcome political stability under Labor as Trump 2.0 risks mount

SYDNEY (Reuters) -Australian financial markets on Monday largely welcomed a historic win by the centre-left Labor Party as it strengthens the government's hand in dealing with any serious threat to the economy from Donald Trump's global trade war. Prime Minister Anthony Albanese secured a resounding victory in the nation's general election on Saturday, riding a voter backlash against the policies of Trump that consigned the conservative Liberal-National coalition to a heavy defeat. The result expands the incumbent Labor Party's majority in the lower house and boosts its ranks in the senate, providing more leeway for the government to deal with what Treasurer Jim Chalmers described as a global economy "going crazy."

  • May 04, 2025

Trump Says He Plans to Reopen Alcatraz as a Federal Prison

(Bloomberg) -- President Donald Trump said in a Truth Social post that he has ordered the reopening of Alcatraz as a prison to “house America’s most ruthless and violent Offenders.”Most Read from BloombergThe Battle Over the Fate of Detroit’s Renaissance CenterNYC Real Estate Industry Asks Judge to Block New Broker Fee LawNJ Transit Strike Would Be ‘Disaster’ for Region, Sherrill SaysNJ Transit Urges Commuters to Work Remotely If Union StrikesIceland Plans for a More Volcanic FutureTrump said he

  • May 04, 2025

7 Best AI Cryptocurrencies To Buy in 2025

The convergence of AI and crypto has seasoned investors and novices alike excited for its potential popularity. The best AI crypto has seen crazy heights in the past few years, and some have already...

  • May 04, 2025

Oil prices drop as OPEC+ accelerates output hikes, surplus looms

Oil prices fell by more than $1 a barrel on Monday after OPEC+ decided to accelerate its output hikes, causing concerns about more supply coming into a market clouded by an uncertain demand outlook. Brent crude futures were down $1.54, or 2.51%, to $59.75 a barrel by 10:55 a.m. EDT (1455 GMT), while U.S. West Texas Intermediate crude was at $56.61 a barrel, a drop of $1.64, or 2.81%. Those moves compounded losses after Brent shed 8.3% and WTI lost 7.5% last week on rising supply concerns after Saudi Arabia signaled it could cope with a prolonged lower price environment.

  • May 04, 2025

Fed’s Powell Is About to Defy Trump and Hold Rates Steady

(Bloomberg) -- Most Read from BloombergThe Battle Over the Fate of Detroit’s Renaissance CenterNYC Real Estate Industry Asks Judge to Block New Broker Fee LawNJ Transit Strike Would Be ‘Disaster’ for Region, Sherrill SaysNJ Transit Urges Commuters to Work Remotely If Union StrikesIceland Plans for a More Volcanic FutureThings are getting awkward for the Federal Reserve. With their eye on inflation, officials are inclined to hold rates steady when they meet in Washington on Tuesday and Wednesday.

  • May 04, 2025

Big Tech earnings defy fears of ‘worst-case scenario’ for stocks

(Bloomberg) -- Investors in the US technology behemoths that dominate the S&P 500 Index are breathing a sigh of relief as last week’s earnings reports from the group show their outlooks remain mostly strong in the face of President Donald Trump’s shifting trade policies.Most Read from BloombergThe Battle Over the Fate of Detroit’s Renaissance CenterNYC Lost $9 Billion of Income to Miami, Palm Beach in Five YearsNYC Real Estate Industry Asks Judge to Block New Broker Fee LawNJ Transit Urges Commu

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