Elon Musk asks court to dismiss SEC lawsuit over late Twitter stake disclosure
Billionaire Elon Musk filed a motion on Thursday seeking to dismiss a civil lawsuit brought by the U.S. Securities and Exchange Commission (SEC), whic...
Canada has requested WTO dispute consultations with the United States regarding President Donald Trump's decision to impose a 25% tariff on cars and car parts from Canada, the World Trade Organization announced on Monday.
“The WTO Secretariat is closely monitoring and analysing the measures announced by the United States on April 2, 2025. Many members have reached out to us and we are actively engaging with them in response to their questions about the potential impact on their economies and the global trading system," - said Dr. Ngozi Okonjo-Iweala, Director-General of the WTO, on 3rd April.
"I'm deeply concerned about this decline and the potential for escalation into a tariff war with a cycle of retaliatory measures that lead to further declines in trade," - she added.
While the situation is rapidly evolving, WTO's initial estimates suggest that these measures, coupled with those introduced since the beginning of the year, could lead to an overall contraction of around 1% in global merchandise trade volumes this year, representing a downward revision of nearly four percentage points from previous projections.
Dr. Ngozi Okonjo-Iweala said that the WTO was established to serve precisely in moments like this — as a platform for dialogue, to prevent trade conflicts from escalating, and to support an open and predictable trading environment. She encouraged Members to utilize this forum to engage constructively and seek cooperative solutions.
Canada claims the measures are inconsistent with U.S. obligations under various provisions under the General Agreement on Tariffs and Trade (GATT) 1994, added the WTO.
"The Government of Canada looks forward to receiving the Government of the United States' reply to this request and to determining a mutually convenient date and place for the consultations," - reads a document submitted to the WTO.
What is a request for consultations?
The request for consultations formally initiates a dispute in the WTO. Consultations give the parties an opportunity to discuss the matter and to find a satisfactory solution without proceeding further with litigation. After 60 days, if consultations have failed to resolve the dispute, the complainant may request adjudication by a panel.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
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.
The S&P 500 and Dow Jones Industrial Average closed at record highs on Thursday (28 August), after Nvidia’s quarterly report fell short of investors’ lofty expectations but confirmed that demand for artificial intelligence (AI) infrastructure remains strong.
Malaysia Prime Minister Anwar Ibrahim said he intends to convene a summit of the Regional Comprehensive Economic Partnership in October, local media reported on Wednesday.
The Organisation for Economic Co-operation and Development (OECD) reported on Tuesday that G20 countries’ international goods trade rose slightly in the second quarter of 2025, mainly because imports into the United States fell sharply after rising in the first quarter.
The S&P 500 closed lower on Monday (25 August) as investors turned their attention to Artificial Intelligence (AI) chipmaker Nvidia’s upcoming quarterly results, following Friday’s rally that saw the Dow Jones Industrial Average close at a record high.
The global market for chemical enhanced oil recovery (EOR) is set to expand significantly over the coming decade. According to Allied Market Research’s 'Global Oil Recovery Market Report,' the market, valued at $900 million in 2021, is expected to grow at an average annual rate of 4.6%, reaching $1.
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