Bill Gates just taught Elon Musk an important lesson: Speed kills
The onetime world's richest man just schooled today's world's richest man on the downsides of "disruption."
Analysis-Trump's tariff blitz yields deals but misses global trade fix
WASHINGTON (Reuters) -Donald Trump's tariff blitz is yielding some initial deals, including a 90-day pause in sky-high U.S. and Chinese duties and a limited trade pact with Britain, but the U.S. president is far from rebalancing global commerce flows, trade experts and analysts said. The weekend U.S.-China tariff truce unleashed a surge in global stock prices and may stave off damage from price spikes and critical minerals shortages until August, but does nothing to address longstanding U.S. complaints about China's state-dominated, export-driven economic model. Instead, it sets a tight new deadline for complex negotiations with Beijing that will take place alongside talks with dozens of other countries facing an earlier, July 8 deadline to avoid higher tariffs - stretching the Trump administration's limited negotiating resources.
Fund managers most underweight on US dollar since 2006, BofA says
LONDON (Reuters) -Global asset managers held their biggest underweight position in the dollar in 19 years in May, as President Donald Trump's chaotic trade policy cut investor appetite for U.S. assets, Bank of America's global fund manager survey (FMS) showed on Tuesday. The United States and China have agreed to a 90-day trade truce, after weekend talks in Geneva to break the deadlock between the world's two largest economies. Fund managers cut their cash levels to 4.5% from 4.8%, often a sign of confidence, but held the largest underweight position in the U.S. dollar since May 2006, the bank said.
Donald Trump Jr. Squashes Rumors of ‘Truth Social’ Memecoin
Any claims or attempts of a Truth Social token are by "scammers," the younger Trump said in an X post.
We Just Observed the S&P 500 Do Something for Only the 8th Time Since 1950 -- and It Has an Immaculate Track Record of Forecasting What's Next for Stocks
An infrequent event for Wall Street's benchmark index can be a generational opportunity for investors.
DXC Earnings: What To Look For From DXC
IT services provider DXC Technology (NYSE:DXC) will be announcing earnings results tomorrow afternoon. Here’s what you need to know.
Analysis-US tariff pause on Beijing puts pressure on 'China-plus-one' countries
BEIJING/MEXICO CITY/HANOI (Reuters) -A new U.S.-China agreement to pause sky-high tariffs on each other is pressuring manufacturing hubs such as Vietnam and Mexico to make their own, better deals with the U.S. to continue benefiting from a "China-plus-one" strategy by global producers. In the new world order dictated by President Donald Trump's shifting announcements of tariffs, countries measure their success not by the terms of their trade deals with the U.S. but by how they compare to other countries. For the last five weeks, many nations facing significant duties under Trump's now-paused "reciprocal" global tariff regime announced on April 2 took solace from having better rates than China, which saw U.S. tariffs on Chinese imports ratchet up from 20% to an embargo-like 145% from March to May.
Honda sees full-year profit down 59% as US tariffs bite, postpones Canada EV plans
TOKYO (Reuters) -Japan's Honda Motor forecast a 59% profit decrease in the current financial year and said it would put on hold a plan to build an EV supply chain in Canada, amid the uncertainty stemming from U.S. President Donald Trump's tariffs. Japan's second-biggest automaker expects operating income to total 500 billion yen ($3.38 billion) in the year to March 31, 2026, versus 1.21 trillion yen in the year that just ended. Honda's forecast is the latest signal of the difficulty car makers are having navigating Trump's tariffs on foreign-made automobiles at the same time the industry is being hit by the rise of Chinese EV producers.
Goldman Sachs cuts US recession odds to 35% from 45% on trade truce optimism
On Monday, the U.S. and China announced an agreement to significantly reduce tariffs on each other's imports for 90 days, with the U.S. lowering its tariffs on Chinese goods to 30% from 145% and China cutting duties on U.S. imports to 10% from 125%. The brokerage also raised its 2025 GDP growth forecast for the U.S. by 0.5 percentage points to 1% on a quarterly basis, it said in a note released on Monday. Goldman now expects the Federal Reserve to deliver just one rate cut in December, down from its earlier forecast of three for this year.
The US Is on Track to Lose $12 Billion in Travel Revenue in 2025
(Bloomberg) -- The US is on track for a very bad tourism year.Most Read from BloombergA New Central Park Amenity, Tailored to Its East Harlem NeighborsAs Trump Reshapes Housing Policy, Renters Face Rollback of RightsWhat’s Behind the Rise in Serious Injuries on New York City’s Streets?NYC Warns of 17% Drop in Foreign Tourists Due to Trump PoliciesLA Mayor Credits Trump on Fire Aid, Stays Wary on ImmigrationAccording to new data from the World Travel & Tourism Council (WTTC), shared exclusively w
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