Nagasaki mayor warns of nuclear war as city marks 80 years since A-bomb
Thousands gathered in Nagasaki on Saturday to commemorate the 80th anniversary of the city’s atomic bombing, with Mayor Shiro Suzuki warning that on...
The U.S. dollar remained firm on Tuesday as President Donald Trump’s latest tariff threats were seen as a negotiation tactic rather than a definitive policy shift. While planned tariffs on Mexico and Canada were suspended, a new 10% levy on Chinese imports took effect, prompting a swift but measured
The U.S. dollar held steady as fresh tariffs on Chinese imports took effect at 12:01 a.m. ET (0501 GMT) Tuesday. Markets interpreted Trump’s actions as a bargaining strategy, though analysts warned of continued volatility.
The U.S. dollar index remained at 108.5, while the Canadian dollar and Mexican peso weakened after Monday’s rebound. The euro also slipped, with Washington threatening the EU with potential trade levies, raising concerns over inflation and interest rates.
Beijing retaliated with its own tariffs but kept the response moderate, suggesting China is leaving room for further negotiations. “China is cautious not to escalate tensions too quickly,” said Lee Hardman, senior currency analyst at MUFG.
The yuan edged down 0.15% to 7.2914 per dollar in offshore trading. The Australian dollar, closely tied to China’s economy, fell 0.35% to $0.6206.
The euro declined 0.15% to $1.033, with analysts predicting further losses if trade tensions intensify. Deutsche Bank’s George Saravelos noted that a prolonged dispute could push the euro toward parity with the dollar.
Elsewhere, the Canadian dollar slipped 0.15% to C$1.4428, while the Mexican peso fell 0.23% to 20.380. The Japanese yen, often a safe-haven currency, lost 0.38% against the dollar, trading at 155.31 per dollar.
With no resolution in sight, analysts expect ongoing fluctuations in currency markets as trade disputes continue to shape economic outlooks.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
A resumption of Iraq’s Kurdish oil exports is not expected in the near term, sources familiar with the matter said on Friday, despite an announcement by Iraq’s federal government a day earlier stating that shipments would resume immediately.
Chinese automaker Chery has denied an industry-ministry audit that disqualified more than $53 million in state incentives for thousands of its electric and hybrid vehicles, insisting it followed official guidance and committed no fraud.
De-dollarisation, the move away from the U.S. dollar in global trade and finance, is no longer a fringe idea. As geopolitical tensions rise and new financial tools emerge, could this shift really transform the global economy?
Kuwait says oil prices will likely stay below $72 per barrel as OPEC monitors global supply trends and U.S. policy signals. The remarks come during market uncertainty fueled by new U.S. tariffs on India and possible sanctions on Russia.
U.S. stock markets closed higher on Wednesday, with the Nasdaq leading gains after tech giants – particularly Apple – saw strong advances.
Global financial markets are trading mixed today amid U.S. President Donald Trump’s announcement of tariffs on drug and semiconductor imports, coupled with weak service sector data impacting investor risk appetite.
Tesla has granted Elon Musk a $29 billion share award as part of a new compensation plan to retain him as CEO while the company shifts focus from electric cars to robotaxis and AI. The move revives elements of a controversial 2018 package previously struck down by a Delaware court.
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