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China has long tapped Latin America to supply oil, iron ore, soybeans and other commodities, all drivers of growth for many Latin American countries. But also a source of frustration for those that hope to grow their economies and exports with more than mining and farm goods.China’s leader, Xi Jinping, is trying to show that he is listening. He told a gathering of Latin American leaders and officials in Beijing on Tuesday that he wanted to expand cooperation in “emerging areas,” including clean energy, telecommunications and artificial intelligence.Speaking a day after China and the United States announced a provisional reduction…
SoftBank CEO Masayoshi Son delivers remarks next to U.S. President Donald Trump at an ‘Investing in America’ event in Washington, D.C., U.S., April 30, 2025. Leah Millis | ReutersSoftbank’s Vision Fund business on Tuesday posted a loss in the fiscal year ended March as it booked slowing gains at its massive tech investment arm.SoftBank said it notched a gain on investment at its Vision Funds of 434.9 billion yen in the fiscal year, a 40% fall from the 724.3 billion yen booked in the previous year. The Vision Fund segment overall logged a pretax loss of 115.02 billion yen ($777.7…
Crypto.com logo displayed on a phone screen with representation of cryptocurrencies.Nurphoto | Nurphoto | Getty ImagesDubai’s Department of Finance announced a partnership with crypto platform Crypto.com that will allow government service fees to be paid with cryptocurrencies.The memorandum of understanding between Dubai government officials and Mohammed Al Hakim, president of Crypto.com UAE, was signed Monday on the sidelines of the Dubai FinTech Summit.Government officials said in a press release that the partnership will help achieve the “Dubai Cashless Strategy,” which seeks to solidify Dubai’s status as a leading digital city. The strategy aims to reach 90% cashless transactions across Dubai’s…
Honda is seen at the New York International Auto Show on April 16, 2025. Danielle DeVries | CNBCJapanese auto giant Honda missed fourth-quarter earnings estimates as operating profit plunged 76%, with the company bracing for the full impact of U.S. tariffs.Here are Honda’s results compared with mean estimates from LSEG:Revenue: 5.36 trillion yen ($47.26 billion) vs. 5.36 trillion yenOperating profit: 73.5 billion yen vs. 275.52 billion yenHonda’s fourth quarter ends March 31.Stock Chart IconStock chart iconFor its financial year ended March, revenue came in at 21.69 trillion yen, compared to the average expectation of 21.63 trillion yen from LSEG and…
Motorists drive past as clouds gather over city skyline in Mumbai on September 26, 2024. (Photo by Punit PARANJPE / AFP) (Photo by PUNIT PARANJPE/AFP via Getty Images)Punit Paranjpe | Afp | Getty ImagesIndia continues to focus on its growth despite the flare up in tensions with Pakistan, said Shilpak Ambule, the country’s high commissioner to Singapore.Speaking to CNBC’s “Inside India,” Ambule said “everybody is on operational alert. But that does not mean that our India growth story and focus on economy gets affected.” Airports have resumed operations, and it is safe to travel in India, he added.Ambule said that…
Follow live updates on the Trump administration here.President Trump had one big question on his mind as Canadian Prime Minister Mark Carney headed to Washington last week.“I very much want to work with him, but cannot understand one simple TRUTH,” Mr. Trump said in a social media post, reiterating several of ways he believes Canada benefits unfairly from its trade relationship with United States.The president also repeated his incorrect claim that the United States is “subsidizing” Canada to the tune of $200 billion, alluding to the country’s trade deficit with Canada, which is the value of what the United States…
A worker finishes red Santa Claus hats for export at a factory on April 28, 2025, near Yiwu, Zhejiang province, China. Kevin Frayer | Getty Images News | Getty ImagesBEIJING — The U.S.-China tariff cuts, even if temporary, address a major pain point: Christmas presents.Nearly a fifth of U.S. retail sales last year came from the Christmas holiday season, according to CNBC calculations based on data from the National Retail Federation. The period saw a 4% year-on-year sales increase to a record $994.1 billion.”With the speed of Chinese factories, this 90-day window can resolve most of the product shortages for…
The Chinese national flag fluttering with the Lujiazui Financial District in the background.Vcg | Visual China Group | Getty ImagesFinancial institutions are rethinking their China calls after a surprise trade truce between Washington and Beijing, raising both the country’s growth forecasts as well as stock market outlooks.On Monday, the U.S. and China reached an agreement to temporarily halt the majority of tariffs on each other’s products for 90 days. Under the deal, mutual tariffs will be reduced from 125% to just 10%.This marks a significant easing of tensions between the two countries after the tit-for-tat that ensued following U.S. President…
The app icons for Revolut and Monzo displayed on a smartphone.Betty Laura Zapata | Bloomberg via Getty ImagesFinancial technology firms were initially the biggest losers of interest rate hikes by global central banks in 2022, which led to tumbling valuations.With time though, this change in the interest rate environment steadily boosted profits for fintechs. This is because higher rates boost what’s called net interest income — or the difference between the rates charged for loans and the interest paid out to savers.In 2024, several fintechs — including Robinhood, Revolut and Monzo — saw a boost to their bottom lines as…
