The Stellantis Windsor Assembly Plant is shown on April 1, 2025 in Windsor, Canada. Bill Pugliano | Getty ImagesDETROIT — Stellantis is pausing production at two assembly plants in Canada and Mexico as the company attempts to navigate President Donald Trump’s new round of 25% automotive tariffs that took effect Thursday.The downtime includes two weeks at the automaker’s Windsor Assembly Plant in Ontario, Canada, and the entire month of April at its Toluca Assembly Plant in Mexico. Both start Monday.The actions will result in temporary layoffs of roughly 900-U.S. represented employees at supporting plants in addition to roughly 4,500 hourly workers…
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Harun Ozalp | Anadolu | Getty ImagesBitcoin and other cryptocurrencies were under pressure Thursday after President Donald Trump’s big tariffs reveal jolted the stock market.The price of the flagship cryptocurrency was last lower by 4% at $82,413.22, according to Coin Metrics. Ether fell 7% and the token tied to Solana dropped 13%. Meanwhile, stocks cratered, with the broad market S&P 500 on track for its worst day since September 2022. Shares of Coinbase and MicroStrategy lost more than 7% each.Investors were rattled after Trump unveiled sweeping tariffs of at least 10% and even higher for some countries, intensifying fears of a…
One of the four head coaches left working in the men’s NCAA Tournament will win his first national championship Monday night. It could be Houston’s Kelvin Sampson in his 36th season of running a program at age 69. It could be Duke’s Jon Scheyer in his third at age 37.Auburn’s Bruce Pearl is on the Sampson side of things — 30th year as a head coach, 65 years old. Florida’s Todd Golden is just getting going, like Scheyer — sixth year as a head coach, 39 years old. It’s difficult to compare the quality of work of careers that are…
ChatGPT and DeepSeek AI apps on a user’s phone in Sopore, Jammu and Kashmir, India, on Feb. 5, 2025 Nasir Kachroo | Nurphoto | Getty ImagesThis report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here.The big storyChina rocked markets earlier this year when its homegrown startup DeepSeek revealed a cheaper and more efficient artificial intelligence model.With India’s growth story and tech-savvy population increasingly getting the spotlight, how far is the country from churning…
With market uncertainty unlikely to dissipate in the short term, now is not a good time for investors to add to riskier positions, according to Kate Moore, chief investment officer at Citi Wealth. “Effectively, we don’t want to be adding to risk right now. If you have a portfolio that is fully invested, we’re going to sit tight and think about being a medium- and long-term investor. But if you have cash that you were looking to deploy, the uncertainty factor — whether it’s in bonds or in equities — is too great for us to have a really convicted…
Aggressive tariffs that President Donald Trump announced Wednesday will begin a “re-ordering” of global trade that will force other nations to open their doors to more American goods, Commerce Secretary Howard Lutnick said Thursday.Under an executive order the president signed, the U.S. will retaliate against duties imposed on American goods elsewhere.Lutnick, in a CNBC interview, said the moves will push countries to re-examine their policies and provide greater market access for U.S. products.”This is the reordering of fair trade,” he said on “Squawk Box.” “It’s about those non-tariff trade barriers. That’s what we are addressing.””I expect most countries to start…
Ford offers customers employee pricing amid tariff fearsThe Ford Motor Company Windsor Engine Plant is shown on April 1, 2025 in Windsor, Canada. Bill Pugliano | Getty Images News | Getty ImagesCiting a “changing economy” and its position as the the No. 1 U.S. producer of cars and trucks, Ford said it’s putting most of its vehicles on sale.The automaker is offering employee pricing to all U.S. customers from April 3 to June 2.The promotion excludes the some large vehicles like the Ford Raptor, the 2025 Expedition and Navigator SUVs and Super Duty trucks.”We understand that these are uncertain times for…
A view shows the logo of Organization of the Petroleum Exporting Countries (OPEC) during the United Nations climate change conference COP29, in Baku, Azerbaijan November 13, 2024. Maxim Shemetov | ReutersEight key OPEC+ producers on Thuesday agreed to raise combined crude oil output by 411,000 barrels per day, speeding up the pace of their scheduled hikes and pushing down oil prices.The Ice Brent contract with June delivery was trading at $70.50 per barrel at 1:32 p.m. London time (8:32 a.m. ET), down 5.94% from the Wednesday close. The front-month May Nymex WTI contract was at $67.11 per barrel, 6.41% lower.Saudi Arabia,…
Syria accused Israel on Thursday of trying to destabilize the country after intense airstrikes on military bases and a deadly raid in southern Syria, part of a deepening incursion that is sharply raising tensions in the region.Since the Assad regime was ousted from Syria last year in a rapid rebel offensive, Israel has carried out hundreds of airstrikes and has deployed forces into southern Syria, in what it says are necessary security operations against potentially hostile forces. Israel’s latest ground incursion, which appeared to be one of the deepest and deadliest into Syria so far, sparked further outrage among some…
Check out the companies making headlines before the bell. Lululemon – Shares tumbled more than 12% on the heels of President Donald Trump’s new wide-ranging tariffs . According to an SEC filing , the company sourced 40% of its products from Vietnam in 2024 – a country that was slammed with a 46% tariff. Almost 90% of Lululemon’s products are made in Vietnam, Cambodia, Sri Lanka, Indonesia and Bangladesh. Nike — Shares slumped about 9% after the United States lifted tariffs Wednesday. Nike manufactures roughly half its footwear in China and Vietnam, which will be subject to tariff rates of…
