Austan Goolsbee speaking at Jackson Hole on August 23, 2024. David A. Grogan | CNBCFederal Reserve officials take great pains not to comment on fiscal policy, but the looming threat from tariffs is forcing their hand.In recent days, multiple central bank policymakers not only have noted the uncertainty surrounding President Donald Trump’s desire to slap broad-ranging duties on products from Canada, Mexico and China — and perhaps the European Union — they also have highlighted the potential impact on inflation.Any indication that the tariffs are presenting longer-lasting pressure in prices could make the Fed hold interest rates higher for longer.In remarks…
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The seal of the U.S. Federal Reserve Board of Governors near the Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S., on Sunday, Jan. 12, 2025.Samuel Corum | Bloomberg | Getty Images If investors were to judge the stability of the economy by looking at the stock market, its two-day winning streak might lead investors to think that it’s business as usual.The market’s response to corporate earnings would also support that thesis. Investors are selling off companies that didn’t meet their expectations, such as Google-parent Alphabet and Advanced Micro Devices, and flocking to firms that they think will do…
Maersk shares jumped more than 10% after the shipping giant posted better-than-expected fourth-quarter results on Thursday, putting shares on course for their best daily performance since 2016. Earnings before interest, depreciation, taxes and amortization (EBITDA) rose 26% to $12.13 billion in the full-year stretch and came in at $3.6 billion in the fourth quarter, exceeding the $3 billion analyst forecast for the three-month period cited by Reuters. “We saw growth across all three of our segments. We saw also a pretty strong price environment on the back of that growth and some shortages of capacity, so global trade continuing to…
Trump’s aides tried to walk back his Gaza takeover planMiddle East leaders and key U.S. partners around the world quickly opposed President Trump’s proposal to force Palestinians out of Gaza and take it over. Amid the global alarm, top administration officials sought yesterday to soften elements of Trump’s plan.Secretary of State Marco Rubio suggested that Trump was proposing only to clear out and rebuild Gaza and not to take it over. Steve Witkoff, the special envoy to the Middle East, told Republican senators during a closed-door meeting that Trump “doesn’t want to put any U.S. troops on the ground, and…
Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019.Aly Song | ReutersBEIJING — China has toughened its tone following the Trump administration’s opening salvo of trade tariffs.”In the face of one-sided acts of bullying, [China] will definitely take necessary measures to firmly protect its own rights and interests,” Chinese Ministry of Commerce Spokesperson He Yongqian told reporters Thursday, according to a CNBC translation.She added that China would not provoke trade disputes and remained ready to resolve problems through discussions. Beijing’s official commentary previously emphasized the…
President Trump’s brazen proposal to move all Palestinians out of Gaza and make it a U.S. territory sent shock waves around the world, where it was welcomed by Trump loyalists and members of Israel’s far right; rejected by American allies and adversaries alike; and criticized by experts as a breach of international law.Here’s what we know about Mr. Trump’s idea for mass resettlement, and the significant obstacles it will face.The proposalMr. Trump had floated the idea of Palestinians leaving Gaza multiple times since taking office last month. His suggestion that they could be moved to Egypt and Jordan was rejected…
Sweden’s Volvo Cars on Thursday reported a 12% rise in full-year operating income and record revenue, but warned of severe market challenges ahead from intensifying electric vehicle competition and global tariffs.The automaker, which is majority-owned by China’s Geely Holding, said operating income came in at 22.3 billion Swedish kronor ($2.04 billion) in 2024 amid an 8% sales increase.However, profit slid 28% in the final three months of the year, which the company said was affected by a one-off 1.7 billion kronor impairment related to its joint venture with Swedish battery developer Northvolt, Novo Energy. Year-on-year sales for the fourth quarter nudged…
MOSCOW, Russia – March 31, 2022: Bottled Carlsberg beer seen on a supermarket shelf. Russia on Monday seized control of the Russian subsidiaries of Danone and Carlsberg, both of which are in the process of selling their Russian operations. The Danish brewer is still represented in Russia by the brands Carlsberg, Kronenbourg, Holsten and Tuborg.Alexander Sayganov/SOPA Images/LightRocket via Getty ImagesDanish brewer Carlsberg on Thursday reported a slight miss in fourth-year sales and pointed to lower growth in 2025.The company posted fourth-quarter sales to 15.72 Danish kroner ($2.18 billion), coming in just below the 15.79 billion Danish kroner estimated by analysts…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailOn today’s episode of CNBC Crypto World, Bitcoin dips while XRP sheds 6 percent in 24 hours. Plus, White House crypto and AI czar David Sacks lays out the priorities for crypto regulation, while the SEC looks to reset its relationship with the crypto industry. Plus, Steve Yun of TVM Ventures discusses the new $100 million fund to back projects on the blockchain used by messaging app Telegram.11:08Wed, Feb 5 20253:11 PM EST Source link
A chimney and pipes at the BKM Nonprofit Fotav Zrt power plant in Budapest, Hungary, on Thursday, Jan. 2, 2025.Bloomberg | Bloomberg | Getty ImagesUkraine’s closest allies have warned against the European Union reopening Russian gas pipelines as part of a potential peace settlement, with one Baltic nation describing the prospect as “not a good solution in any way.”It comes shortly after the Financial Times reported that EU officials were considering whether to restore gas flows from Russia to Europe as part of a settlement to end the Kremlin’s years-long Ukraine war.The report, which was published on Jan. 30 and…
