An employee stands at a blast furnace in North Rhine-Westphalia, Duisburg, Germany.Picture Alliance | Picture Alliance | Getty ImagesU.S. tariffs entered the spotlight once again in Europe on Wednesday as U.S. President Donald Trump’s 50% levy on steel and aluminum imports to the U.S. came into effect.Announced last week and signed by Trump on Tuesday, the order doubles tariffs from 25% to 50% on all metals imports to the U.S., with the president stating that the move will protect the U.S. steel industry amid a flood of cheaper foreign steel imports and weaker global demand.Canada and Mexico are the biggest exporters…
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Electric vehicles outside a Tesla dealership in Melbourne on April 19, 2023.William West | AFP | Getty ImagesTesla may be facing declining sales in the U.S. and Europe, but it reported a bright spot in Australia — where its electric vehicle sales rebounded to their highest level in nearly 12 months in May.The American EV maker said Tuesday that its vehicle sales jumped to 3,897, primarily driven by record sales of its recently revamped Model Y compact sport utility vehicle. Australian sales of the Model Y soared 122.5% year over year, while sales of the company’s Model 3 dropped significantly. Total deliveries…
Donald Trump said Wednesday that China’s President Xi Jinping was “extremely hard” to make a deal with, at a time when the White House has been suggesting the two leaders could talk this week amid a rise in trade tensions.”I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!,” the U.S. president wrote on Truth Social.That post on the social media platform came after a senior White House official told CNBC on Monday that Trump and Xi were likely to speak this week.Chinese Foreign Minister Wang Yi told the new U.S.…
Here are the opening callsBank of England and the Royal Exchange in the City of London on 24th March 2025 in London, United Kingdom. Mike Kemp | In Pictures | Getty ImagesGood morning from London. This is CNBC’s live blog covering all the action in European financial markets on Wednesday, as well as business news, analysis, earnings and data.Futures data from IG on Wednesday morning suggests London’s FTSE will open 6 points higher at 8,788, Germany’s DAX up 56 points at 24,135, France’s CAC 40 up 20 points at 7,780 and Italy’s FTSE MIB 60 points higher at 40,155.U.S. tariffs are once again in focus on Wednesday after…
This report is from this week’s CNBC’s UK Exchange newsletter. Each Wednesday, Ian King brings you expert insights on the most important business stories from the U.K. and the key personalities shaping the news. The newsletter will also highlight other key developments in the U.K. that you won’t want to miss, plus a preview of essential events that are set to make waves. Like what you see? You can subscribe here.In my more than 30 years in financial journalism, few memories are stronger than those of Tuesday, April 22, 2008, the day Royal Bank of Scotland — then one of the…
Wells Fargo was released from a punitive, seven-year-long $1.95 trillion cap on its assets on Tuesday after the U.S. Federal Reserve lifted the regulatory measure, allowing the bank to pursue unimpeded growth.The move handed a major victory to CEO Charlie Scharf, who has been cleaning up the bank since taking the top job in 2019, and sent the bank’s shares up 2.7% in after-hours trading as investors anticipated that the bank can now expand. Wells has said it wants to grow in areas such as credit cards, wealth management and commercial banking.”It will be a significant bump for the stock in the near…
Kazuo Ueda, governor of the Bank of Japan (BOJ), speaks during a conference hosted by the bank’s Institute for Monetary and Economic Studies in Tokyo, Japan, on Tuesday, May 27, 2025. Kiyoshi Ota | Bloomberg | Getty ImagesBank of Japan Governor Kazuo Ueda said the country’s economy can withstand the hit from U.S. tariffs and sustain a cycle of rising inflation accompanied by wage growth, signaling the bank’s readiness to raise interest rates further.Uncertainty over U.S. trade policy and the range of tariffs imposed by President Donald Trump’s administration could hurt Japan’s exports, prod firms to delay capital expenditure plans, and discourage them from raising wages, Ueda said on…
Theodore Levin United States Courthouse, Detroit Federal Building, Detroit, Michigan on August 25, 2010Carol M. Highsmith | Buyenlarge | Archive Photos | Getty ImagesA Chinese researcher in Michigan and her boyfriend have been charged with smuggling a biological pathogen that “can cause devastating diseases in crops” into the United States, according to federal charging documents unsealed Tuesday.Yunqing Jian, 33, a postdoctoral fellow at the University of Michigan, and her boyfriend, Zunyong Liu, 34, were charged with multiple counts, including conspiracy to defraud the United States, smuggling goods into the country and making false statements to investigators, the complaint says.Liu was…
Sophie Karp, Keybanc, joins ‘Fast Money’ to talk Meta’s Constellation Energy deal. Source link
The Toyota Industries Corp. logo at the company’s Nagakusa plant in Obu, Aichi Prefecture, Japan.Bloomberg | Bloomberg | Getty ImagesShares of Toyota Industries slumped as much as 13% Wednesday, after Toyota Group’s reported 4.7 trillion yen ($33 billion) deal to take the company private.That includes a tender offer of $26 billion for shares of Toyota Industries at 16,300 yen apiece, according to Reuters, sharply lower than the 18,400 yen it closed on Tuesday before the deal was announced.Toyota Group will create a new holding company for the deal, with the group’s real estate arm Toyota Fudosan investing about 180 billion yen, while Toyota Motor Chairman Akio Toyoda will…
