Donald Trump, who has been quite vocal about a tariff-heavy trade policy, appears to have shifted the focus of his protectionist agenda from China to some of the closest U.S. allies. Speaking at a campaign event in Savannah, Georgia, on Tuesday, the Republican presidential nominee said he would build upon the tariff policies of his first term in an effort to take manufacturing jobs from foreign countries — both friends and foe. “You will see a mass exodus of manufacturing from China to Pennsylvania, from Korea to North Carolina, from Germany to right here in Georgia,” he said in his mostly economic-centered…
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Budrul Chukrut | Lightrocket | Getty ImagesU.S. drugmaker Pfizer said on Wednesday it is withdrawing its sickle cell disease therapy Oxbryta in all markets where it is approved and discontinuing all studies and access programs related to the treatment.The decision is based on the totality of clinical data, which now indicates that the benefit of Oxbryta no longer outweighs the risks associated with its use, Pfizer said.The company added that the data for Oxbryta shows that there is an imbalance in vaso-occlusive crises, a complication of the disease and “fatal events” which require further assessment.Pfizer said it will further review and investigate the available data…
India’s economic growth story is a stunning one — but the question of where investors should park their money is not always straightforward, with one Blackstone executive highlighting a common mistake. India is set to become the world’s third-largest economy by 2027, according to its finance ministry . The country’s stock market has also been in the spotlight this year, overtaking Hong Kong to become the fourth-largest globally in terms of the total value of listed companies. India’s benchmark indexes have notched successive record highs throughout the year — the Nifty 50 and BSE Sensex indexes are almost 20% and…
China’s government announced it will offer a one-time cash allowance to those in extreme poverty, a day after its central bank rolled out a slate of stimulus measures aimed at shoring up the economy.The handout will be provided to “extremely poor people, orphans and other needy people on the occasion of the 75th anniversary of the founding of New China,” China’s Ministry of Civil Affairs reported on Wednesday. That’s according to a Google translation. The subsidies will be doled out before China’s National Day on Oct. 1 to “promptly convey the Party and government’s care and concern for the needy.”…
SYDNEY, AUSTRALIA – SEPTEMBER 05: A person looking at milk products in a supermarket on September 05, 2024 in Sydney, Australia. Australia is currently facing a severe cost of living crisis, with rising prices for essentials like food, housing, and utilities significantly outpacing wage growth, leaving many households struggling to make ends meet.James Gourley | Getty Images News | Getty ImagesAustralia’s inflation rate has come within the RBA’s target range in the month of August, easing from 3.5% in July to 2.7%., according to a Wednesday release from the country’s Bureau of Statistics.The drop puts the rate below the Reserve Bank of…
Flags of the People’s Republic of China and the Russian FederationManuel Augusto Moreno | Moment | Getty ImagesRussia has established a weapons program in China to develop and produce long-range attack drones for use in the war against Ukraine, according to two sources from a European intelligence agency and documents reviewed by Reuters.IEMZ Kupol, a subsidiary of Russian state-owned arms company Almaz-Antey, has developed and flight-tested a new drone model called Garpiya-3 in China with the help of local specialists, according to one of the documents, a report that Kupol sent to the Russian defense ministry earlier this year outlining its work.Kupol told the defense ministry in a subsequent update that it was able to produce drones including the…
New York City Mayor Eric Adams speaks during a press conference at the City Hall, after it was revealed that he received a fresh round of federal grand jury subpoenas, New York City, U.S., August 16, 2024.Adam Gray | ReutersNew York City Mayor Eric Adams has been indicted on criminal charges in federal court in Manhattan, sources familiar with the matter told CNBC on Wednesday night.The indictment, which remains sealed for now, at least in part accuses Adams of criminal conduct related to donations to his 2021 mayoral campaign. A source said that the indictment mentions up to $20 million…
“He’s in charge of that right butt cheek,” Eli Manning says.It’s Sunday afternoon of Week 2, a little more than 24 hours before the Manning brothers are on the air, and a flurry of voice memos lights up Peyton’s phone.“The RPOs all look bad, Peyt.”“I don’t think Kirk was under center for one play, which is strange.”The voice memos have a backstory: A few years ago, while he was watching a Broncos game, Peyton had to sneak into a bathroom at Empower Field in Denver after a coach called him later than expected. He found himself scribbling notes on a…
An Amazon Web Services data center in Stone Ridge, Virginia, US, on Sunday, July 28, 2024. Nathan Howard | Bloomberg | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayFalling from highsU.S. stocks mostly fell Wednesday. The S&P 500 lost 0.19% and the Dow Jones Industrial Average slipped 0.7%, after scaling record highs earlier in the session. The Nasdaq Composite closed near the flatline. Europe’s regional…
Caleb Silver, Investopedia editor-in-chief, joins ‘Fast Money’ to talk the latest investor survey results. Source link
