• May 28, 2025

Goldman Urges Investors to Buy Gold and Oil as Long-Term Hedges

(Bloomberg) -- Goldman Sachs Group Inc. touted gold and oil as hedges against inflation in long-term portfolios, citing the appeal of bullion as a haven amid concerns over US institutional credibility and crude’s ability to protect against supply shocks.Most Read from BloombergNYC Congestion Toll Brings In $216 Million in First Four MonthsNY Wins Order Against US Funding Freeze in Congestion FightNY Congestion Pricing Is Likely to Stay Until Year End During Court CaseAnalysts including Daan Stru

• May 28, 2025

US Tightens China Chip Curbs by Targeting Design Software

(Bloomberg) -- The Trump administration is moving to restrict the sale of chip design software to China, people familiar with the matter said, as the US government evaluates a broader policy announcement on the issue.Most Read from BloombergNYC Congestion Toll Brings In $216 Million in First Four MonthsNY Wins Order Against US Funding Freeze in Congestion FightNY Congestion Pricing Is Likely to Stay Until Year End During Court CaseThe Commerce Department’s Bureau of Industry and Security sent le

• May 28, 2025

South Korea's trade surplus with U.S. will shrink, exporters say

SEOUL (Reuters) -South Korea's record-high trade surpluses with the United States will gradually narrow as companies continue to invest in the U.S. market, the country's biggest exporter group said on Thursday. "There is a high possibility of trade imbalances between South Korea and the United States gradually easing on continued and prolonged investments in the country," Korea International Trade Association (KITA) said in a report. In 2024, 46.8% of U.S. imports from South Korea were intermediate goods shipped to the country for direct investments, according to KITA.

• May 28, 2025

Bank of Korea sees auto, steel, chip exports falling when tariffs hit

SEOUL (Reuters) -South Korea's exports of automobiles, steel and semiconductors are expected to fall as the impact of U.S. President Donald Trump's tariffs take effect later this year, the central bank said on Thursday. Weaker car exports will drag down South Korea's exports by 0.6%, and U.S.-bound exports by 4.0%, posing the biggest risk, the Bank of Korea projected in a report, adding automakers so far have responded to 25% U.S. tariffs with existing stocks. Steel products are also estimated to lower the country's exports by 0.3%, with a decline of 1.4% in U.S.-bound shipments, as 25% tariffs on the sector start to weigh from the third quarter after a time lag in shipments, the central bank said.

• May 28, 2025

Morning Bid: Markets hope Trump tariffs stay 'unlawful'

Who knew the three judges at the rather obscure United States Court of International Trade had the power to spark a rally in global stock markets and shove the dollar higher against its safe-haven peers? Early in the Asian trading day, news broke the court had declared President Donald Trump's April 2 tariffs to be "invalid as contrary to law", sending risk assets surging. All three judges - one appointed by Trump, one by Obama and one by Reagan - agreed Trump had overstepped his authority by declaring an emergency to slap tariffs on the rest of the world.

• May 28, 2025

Toyota global output, sales rise for the fourth straight month in April

TOKYO (Reuters) -Toyota said on Thursday its worldwide output and sales rose for a fourth consecutive month in April on strong demand for hybrid vehicles and rush buying in the United States over U.S. President Donald Trump's import tariffs. The world's biggest automaker's global sales for April increased 10% year-on-year to 876,864 vehicles, with U.S. sales climbing just as much, fuelled by strong demand, including rush-buying over the tariffs, according to Toyota. Hybrid vehicle sales made up about 44% of Toyota's total worldwide sales for the first four months of the year.

• May 28, 2025

Bullish bets surge on Asian currencies as US-China thaw, trade deals rattle dollar: Reuters poll

Investors piled up bullish bets on Asian currencies, including the yuan, as easing U.S.-China tariff tensions, new trade deals and a growing unease with U.S. policies prompted them to pull out of dollar assets, a Reuters poll showed on Thursday. Investors sought long positions across the board, with those in the Taiwanese dollar and Philippine peso climbing to their highest since the end of 2020, according to the fortnightly poll of 10 respondents. All responses were collected before a U.S. trade court on Wednesday blocked President Donald Trump's sweeping tariffs, ruling he overstepped his authority by imposing duties on countries with trade surpluses against the United States.

• May 28, 2025

California avocado growers say Mexican imports have helped their sales

While California farmers often rattle off a list of challenges they face including high labor costs, water restrictions and overseas competition, many avocado growers say they have a good thing going. A key reason may come as a surprise to some — Mexican imports. When the United States lifted its ban on Mexican avocados in 1997, California growers worried at first that the imported fruit would displace their production.

• May 28, 2025

AP Top Extended Financial Headlines at 3:34 a.m. EDT

Federal Reserve officials agreed earlier this month to hold off on any interest-rate moves while they evaluated the impact of President Donald Trump's tariffs on inflation, unemployment, and the broader economy

• May 28, 2025

South Korea's central bank cuts borrowing costs to nurse the sluggish economy

South Korea’s central bank cut its key interest rate and sharply lowered its growth outlook for the country’s economy in 2025, as it moved Thursday to counter U.S. President Donald Trump’s tariff hikes and weak domestic demand worsened by recent political turmoil. Following a monetary policy meeting, the Bank of Korea cut its benchmark interest rate by a quarter percentage point to 2.5%. The bank slashed its 2025 growth outlook to 0.8%, nearly halving its previous projection of 1.5% announced in February.