US tariffs prompt Toyota profit warning
US tariffs prompted Japanese auto giant Toyota on Thursday to cut its annual net profit forecast by 14 percent. The world’s largest automaker by vehicle sales now expects a net profit of 2.66 trillion yen ($18.06 billion), down from 3.1 trillion yen previously forecasted. “Due to the impact of US tariffs and other factors, actual […]
Siemens warns US tariffs causing investment caution
Siemens warned on Thursday that US tariffs were prompting its customers in key sectors to slow investment decisions, even as the German industrial giant reported forecast-beating quarterly profits. The group booked net profits of 2.2 billion euros ($2.6 billion) from April to June, up five percent from a year earlier, as strong orders at its […]
Bitcoin hits record high amid optimism over US legislation
Bitcoin hit a record high on Wednesday, driven by a wave of optimism over cryptocurrency legislation in the United States. The world’s most popular cryptocurrency surged to an all-time peak of $109,499.76, surpassing its previous high set on January 20 when Donald Trump was sworn in as US president. Bitcoin gained after US policymakers showed […]
Measles roars back in the US, topping 1,000 cases
The United States’ measles outbreak has surpassed 1,000 confirmed cases with three deaths so far, state and local data showed Friday, marking a stark resurgence of a vaccine-preventable disease that the nation once declared eliminated. The surge comes as Health Secretary Robert F. Kennedy Jr. continues to undermine confidence in the measles, mumps, and rubella […]
US unveils new port fees for Chinese-linked ships
The United States unveiled new port fees on Chinese built and operated ships Thursday, in a bid to boost the domestic shipbuilding industry and curb China’s dominance in the sector. The move — which stems from a probe launched under the prior administration — comes as the United States and China are locked in a […]
US immigration officials look to expand social media data collection
U.S. immigration officials are asking the public and federal agencies to comment on a proposal to collect social media handles from people applying for benefits such as green cards or citizenship, to comply with an executive order from President Donald Trump. The March 5 notice raised alarms from immigration and free speech advocates because it […]
European countries resist US push to scrap diversity and inclusion initiatives
U.S. government efforts to eliminate diversity initiatives are not going down well on the European continent. Laurent Saint-Martin, France’s minister for foreign trade, said the country won’t compromise after the U.S. State Department demanded French companies drop diversity, equity and inclusion initiatives. In neighboring Belgium, where some companies reportedly received similar requests, the government lashed out […]
Hyundai announces new $21 billion investment in US manufacturing
South Korean auto giant Hyundai on Monday announced a multi-billion-dollar investment in the United States, including a new $5.8 billion steel plant. The plant, which will be based in the US state of Louisiana, “will create 1,300 American jobs,” Hyundai executive chairman Euisun Chung told reporters at a White House event alongside President Donald Trump. […]
TSMC announces $100 bn investment in new US chip plants
President Donald Trump said Monday that the chip-making giant TSMC will invest “at least” $100 billion in the United States to build “cutting edge” chip manufacturing facilities, in the latest blockbuster financial pledge by a private company since his return to office in January. Taiwan Semiconductor Manufacturing Co’s new investment will come on top of […]
Writing on the wall as Chinese businesses fret over US trade war
At a bustling Shanghai trade fair, exporters of goods ranging from plush toys to chainmail bikinis expressed growing unease at the escalating US-China trade war as new US tariffs took hold on Tuesday. President Donald Trump on Monday doubled previously imposed tariffs to 20 percent, which themselves pile atop existing levies on various Chinese goods. […]