WASHINGTON – The nation’s longest-ever government shutdown entered a critical new phase Monday as House Speaker Mike Johnson (R-La.) summoned representatives back to the Capitol to vote on a Senate-forged deal to reopen the government. The move signals a potential end to the 41-day crisis, even as its cascading effects—from snarled air travel to legal fights…
Tag: Donald Trump
Paramount Skydance acquires The Free Press; Names Bari Weiss Editor-in-Chief of CBS News
NEW YORK: Paramount Skydance said Monday it has acquired online publication The Free Press and appointed its co-founder and CEO, Bari Weiss, as editor-in-chief of CBS News. The Free Press, launched by Weiss in 2021 following her departure from The New York Times’ opinion desk, will be integrated into CBS News. Paramount said the digital…
Wall Street shines as earnings, trade deals lift markets to record highs
Another week, another round of record highs U.S. stocks closed out a winning week on Friday, propelled by strong corporate earnings and optimism over international trade deals. The S&P 500 rose 0.40% to a new peak of 6,388.64—marking its 14th record close this year and its fifth in a row. The Nasdaq Composite also hit…
U.S. stocks recover after Trump denies plans to oust Fed Chair Powell
U.S. stocks rebounded Wednesday after President Donald Trump said he has no intention of firing Federal Reserve Chair Jerome Powell, easing investor concerns about potential leadership upheaval at the central bank. The major indexes fell as much as 0.8% late morning following a report in The Wall Street Journal that Trump suggested to GOP lawmakers…
Stocks slide after tariff escalation; Weekly losses across major indexes
Dow Jones ends down 0.6% on Trump’s Canada tariff, broader trade threats loom U.S. stocks declined Friday, giving back gains from the previous session after President Donald Trump escalated trade tensions with sweeping new tariff threats. The losses followed a record-setting day for the S&P 500 and came as investors digested concerns about international trade…
U.K.-U.S. trade deal takes effect, cuts tariffs on British cars but leaves metals in question
LONDON: A new U.K.-U.S. trade deal took effect Monday, granting British car exports preferential tariff rates while leaving final levies on metal shipments unresolved. The agreement, the first Washington has struck since President Donald Trump announced reciprocal tariffs in April, imposes a blanket 10% duty on most British goods entering the U.S. For autos, the…
Canada threatens escalated counter-tariffs on U.S. steel and aluminum imports
Canada weighs stronger trade retaliation as U.S. steel and aluminum imports face 50% tariffs, industry braces for impact OTTAWA: Canada may impose higher counter-tariffs on U.S. steel and aluminum imports if negotiations with the Trump administration fail to yield a broader trade deal within the next 30 days, Prime Minister Mark Carney said Thursday. The…
U.S. stocks edge higher as Fed holds rates steady; Middle East tensions simmer
Dow Jones, S&P 500, and Nasdaq Post Gains as Fed Holds Rates; Middle East Tensions Linger NEW YORK: Major U.S. stock indices posted modest gains Wednesday as investors digested the Federal Reserve’s decision to hold interest rates steady while monitoring escalating tensions in the Middle East. The Dow Jones Industrial Average rose 0.34%, or 132 points, to close at 42,338.95,…
Trump approves U.S. Steel-Nippon merger with conditions on governance, jobs
WASHINGTON: President Donald Trump on Friday signed an executive order approving U.S. Steel’s merger with Japan’s Nippon Steel, following a national security agreement that grants the U.S. government a “golden share” in the combined entity. The agreement, announced by both companies, includes $11 billion in Nippon investments by 2028 and commitments to maintain domestic production,…
UK labor market shows signs of weakness ahead of employer tax hike
LONDON: Britain’s labor market showed signs of weakening ahead of this month’s increase in a tax on employers, data released Tuesday showed. However, strong wage growth persisted, complicating the Bank of England’s efforts to curb inflation. Financial markets indicate a 90% chance of a quarter-point interest rate cut when policymakers meet in early May, followed by…