U.S. President Donald Trump looks on, on the day he signs executive orders in the Oval Office at the White House in Washington, D.C., U.S., April 23, 2025. Leah Millis | ReutersEuropean officials say they’re optimistic a trade deal can be reached with U.S. President Donald Trump, warning of significant economic harm to both Europe and the U.S. if an agreement isn’t agreed and full-scale tariffs are introduced.”I do believe an agreement can be reached, but at the same time, I do know we have lots of work that we have to do in order to get to that point,”…
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Revolut CEO Nikolay Storonsky at the Web Summit in Lisbon, Portugal, Nov. 7, 2019.Pedro Nunes | ReutersLONDON — British fintech firm Revolut on Thursday announced it topped $1 billion in annual profit for the first time, a major milestone for the company on the road to an eventual initial public offering.Revolut, which offers a range of banking and financial services via an app, said that net profit for the year ending Dec. 31, 2024, totaled £1.1 billion ($1.5 billion), up 149% year over year. Revenues at the company increased 72% year on year to £3.1 billion, driven by growth across…
Former President Moon Jae-in of South Korea was indicted on a bribery charge on Thursday, becoming the latest ex-leader to face a criminal trial in a country where subjecting former leaders to criminal investigations has become a recurring pattern.Mr. Moon, who left office after his five-year term ended in 2022, faces the corruption charge in connection with the employment of his former son-in-law at a now-defunct small budget airline in Thailand, prosecutors said on Thursday.The former son-in-law, at the time married to Mr. Moon’s daughter, Da-hye, received 217 million won, or around $150,000, in salary and housing allowances from the…
Sam Altman, chief executive officer of OpenAI, during a fireside chat organized by Softbank Ventures Asia in Seoul, South Korea, on Friday, June 9, 2023. SeongJoon Cho | Bloomberg | Getty ImagesA group of ex-OpenAI employees, Nobel laureates, law professors and civil society organizations sent a letter last week to attorneys general in California and Delaware requesting that they halt the startup’s restructuring efforts out of safety concerns.In the letter, which was delivered to OpenAI’s board on Tuesday, the group wrote that restructuring to a for-profit entity would “subvert OpenAI’s charitable purpose,” and “remove nonprofit control and eliminate critical governance safeguards.””No…
Tensions from U.S. President Donald Trump’s tariffs are not only a headwind for South Korea but “bad for everybody,” said Bank of Korea Governor Rhee Chang Yong.”I really hope this trade tension will dissipate, because it’s bad for everybody,” Bank of Korea governor Rhee Chang Yong said late Wednesday.Speaking to CNBC at the IMF-World Bank Spring Meetings, Rhee said that trade tensions have caused headwinds for the South Korean economy, and downside risk to economic growth has increased.”We will be affected directly by the U.S. tariffs [and] also indirectly by their tariffs to other countries, for example, the semiconductor production…
Signs of China Telecom, China Mobile and China Unicom are seen during the China International Import Expo (CIIE) at the National Exhibition and Convention Center in Shanghai, China, Nov. 5, 2018.Aly Song | ReutersThe leaders of a U.S. congressional committee on Wednesday moved to force China’s three telecom giants to cooperate with an investigation into their alleged support for the Chinese military and government, according to letters seen by Reuters.In a bipartisan effort, the House of Representatives’ select committee on China used its seldom exercised subpoena powers in an effort to compel China Mobile, China Telecom, and China Unicom to…
The Pakistani government struck a measured tone after militants killed more than two dozen Indian civilians in Kashmir on Tuesday, insisting that it has no interest in seeing tensions with India escalate.But across Pakistan, people are watching with growing concern as Indian officials hint at the possibility of military strikes, and the television airwaves have been filled with defense analysts warning of unpredictable consequences if hostilities between the nuclear-armed neighbors intensify.The Indian government has not officially identified any group as being behind the attack in a scenic tourist area of Indian-administered Kashmir. But it announced a flurry of punitive measures…
Shipping containers at the Yangshan Port outside Shanghai, China, on Feb. 7, 2025.Go Nakamura | ReutersChina’s state regulator and planning council published a new version of its “negative list” that relaxes barriers to entering the world’s second-largest economy, reducing the number of restricted industries to 106 from 117.The so-called negative list specifies industries where activities by foreign investors are either restricted or prohibited. It was first issued in 2018 by Beijing.The relaxation comes as U.S. tariffs threaten more pressure on China’s economy, which is already reeling from weak domestic consumption and a debt crisis in the property sector. China’s National…
U.S. President Donald Trump looks on, on the day he signs executive orders in the Oval Office at the White House in Washington, D.C., U.S., April 23, 2025. Leah Millis | Reuters U.S. President Donald Trump called the first shots in his trade crusade, but he also blinked first in his tariff war.Trump late Tuesday said that the current 145% tariff on Chinese imports is “very high, and it won’t be that high. … No, it won’t be anywhere near that high. It’ll come down substantially. But it won’t be zero.” The president’s softer tone towards China, despite no formal…
The ‘Fast Money’ traders talk stocks climbing on hopes tariffs will ease. Source link
