The US has implemented 25% tariffs on imports from Canada...
The US has implemented 25% tariffs on imports from Canada and Mexico, prompting Canada to announce equal tariffs on US goods, while Mexico has yet to detail its response. The tariffs include a 10% duty on Canadian energy products. The US also doubled a 10% tariff on Chinese imports to 20%, with the Chinese government responding with tariffs of up to 15% on farm products and some other goods.
President Trump addressed a joint session of Congress
Trump began his speech, which ran one hour and 40 minutes, by saying,...
Trump began his speech, which ran one hour and 40 minutes, by saying, “America is back” and lauding the “swift and unrelenting action” his administration has taken in the first 43 days of his second term. The president reiterated many of his policy positions on culture issues, immigration, tax reduction, foreign policy, bureaucracy, and tariffs. He announced that his admin had “just apprehended the top terrorist responsible” for the suicide bombing in Kabul that killed 13 American military personnel during the 2021 withdrawal from Afghanistan. He also revealed that Ukrainian President Volodymyr Zelensky had sent him an “important” letter just “a little while ago” and went on to say, “If you want to end wars, you have to talk to both sides.” The president also praised Elon Musk, called Sen. Elizabeth Warren “Pocahontas,” blamed former President Biden for the high price of eggs, and urged Congress to repeal the bipartisan CHIPS Act.
BlackRock bought ports on both sides of the Panama Canal for...
BlackRock bought ports on both sides of the Panama Canal for $23 billion. A consortium of investors led by the US investment giant struck a deal with Hong Kong-based CK Hutchison to acquire the two ports, among others, effectively putting them under US corporate control and fulfilling President Trump’s aim to rid the canal of what he called Chinese influence. Trump has alleged that China operates the critical waterway, which both China and the Panamanian government deny. The transaction is reportedly BlackRock’s biggest infrastructure deal ever.
The Supreme Court ruled against the EPA, enfeebling rules designed to limit the amount of raw sewage that’s pumped into water supplies.
Tesla’s stock had its worst month since 2022, plunging 28% in CEO Elon Musk’s first full month as part of the Trump administration.
Kraft Heinz is entering the alcohol category for the first time with a new hard seltzer infused with Crystal Light.
The CFPB dropped its lawsuit against JPMorgan Chase, Bank of America, and Wells Fargo over Zelle fraud as Acting Director Russell Vought guts the independent agency.
Anthropic has turned its seven co-founders into billionaires after its latest funding round, which valued the AI company at $61.5 billion, Bloomberg reported.
Samsung is expected to launch its competitor to the Apple Vision Pro headset this year, CNBC reported.
Brent settles down, hit 6-month low on Opec+ output rise, tariffs, Ukraine news
OIL prices swooned on Tuesday and settled close to to...
OIL prices swooned on Tuesday and settled close to to multi-month lows after reports of Opec+ plans to proceed with output increases in April and news of US tariffs on Canada, Mexico and China as well as Beijing’s retaliatory tariffs.
Brent futures settled 58 cents lower, or 0.8 per cent, at US$71.04 a barrel. The session low was US$69.75 a barrel, its lowest since September.
US West Texas Intermediate (WTI) crude fell 11 cents a barrel, or 0.2 per cent, at US$68.26. The benchmark previously dropped to US$66.77 a barrel, the lowest since November.
Opec+, the Organization of the Petroleum Exporting Countries and allies including Russia, decided on Monday to proceed with a planned April oil output increase of 138,000 barrels per day, its first since 2022.
The move took the market by surprise, said Bjarne Schieldrop, chief commodities analyst at SEB.
Dow, S&P 500 end sharply lower as Trump’s tariffs roil stock market
U.S. stocks finished sharply lower on Tuesday amid concerns...
U.S. stocks finished sharply lower on Tuesday amid concerns that President Donald Trump’s tariffs — and retaliation from some of the U.S.'s trading partners — could put pressure on economic growth.
The Dow Jones Industrial Average lost 670.25 points, or 1.6%, to end at 42,520.99, its worst day in over a week. The blue-chip index fell more than 1,300 points over the past two trading days, logging its worst two-day decline since Dec. 18, according to Dow Jones Market Data.
The Nasdaq Composite fell 65.03 points, or 0.4%, to finish at 18,285.16. At its worst level Tuesday, the tech-heavy index slumped over 2.1% and into correction territory, defined as a 10% drop from an index’s recent high, according to Dow Jones Market Data. The Nasdaq then bounced back into positive territory in afternoon action, but still failed to maintain its footing heading into the closing bell.
The S&P 500 tumbled 71.57 points, or over 1.2%, ending at 5,778.15.
