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  • Apr 22, 2025

Truck maker Volvo cuts North America market outlook amid tariff uncertainty after Q1 profit falls

(Reuters) -Truck maker Volvo reported a bigger-than-expected fall in first-quarter profit on Wednesday and lowered its North America lorry market outlook, pointing to increased uncertainty around tariffs and their impact on global trade. The Swedish group said it now sees the North American heavy truck market at 275,000 new vehicles this year. Volvo repeated a market outlook for 290,000 new heavy trucks in Europe, adding however that current market conditions meant forecasts were subject to significant uncertainty.

  • Apr 22, 2025

Morning Bid: Trump's Fed backflip sets off relief rally

Listening to President Trump on Tuesday, it's as if all the vitriol towards Fed boss Jay Powell - the threats, the name calling - was some crazy misunderstanding. Trump now says he had "no intention of firing him" and was just gently angling for a rate cut or two. In the same news conference, Trump said the exorbitant levies on Chinese goods following a rapid tit-for-tat trade war escalation - so high that the actual numbers became irrelevant - will soon be "substantially" lower.

  • Apr 22, 2025

Trump says crypto needs regulatory certainty

WASHINGTON (Reuters) -U.S. President Donald Trump said on Tuesday that the crypto industry needs regulatory certainty and clear rules of the road that Securities and Exchange Commission Chairman Paul Atkins will work on providing. "He's the perfect man to lead this agency at a time when crypto innovators are urgently in need of and they want so badly, they want it to happen, regulatory certainty and clear rules of the road," Trump said, speaking at Atkins' swearing in as the SEC chairman.

  • Apr 22, 2025

Oil prices fall nearly 2%, sources say OPEC+ to consider accelerating oil output in June

HOUSTON (Reuters) -Oil prices fell almost 2% on Wednesday as sources said OPEC+ could accelerate its oil output increases next month, but losses were curbed after a report that U.S. President Donald Trump may cut tariffs on Chinese imports. Brent crude futures were down $1.14, or 1.69%, at $66.30 by 10:39 a.m. EDT (1439 GMT) while U.S. West Texas Intermediate crude lost $1.17, or 1.84%, to $62.50. Several OPEC+ members will suggest that the group accelerate oil output increases for a second consecutive month in June, three sources familiar with OPEC+ talks told Reuters.

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