WORLD
From Ray-Bans to wigs, US buyers may see unexpected price hikes
BUSINESS
Southeast asia rushes to avert tariff pain by enticing Trump
Vietnam, Cambodia and Indonesia have said in recent days that they’re open to negotiations over the “reciprocal tariffs” Trump announced this week, while Singapore, a finance and trade hub, said it didn’t plan to strike back.
WORLD
Billionaires poised to lose near half-trillion dollars in 2 days
Friday’s $329 billion drop was the largest since the height of the Covid-19 pandemic in 2020, swamping Thursday’s $208 billion slide.
BUSINESS
Warren Buffett says comments attributed to him on X are all false
Buffet said last year he wouldn’t endorse any political candidate after “numerous fraudulent claims” emerged regarding his positions.
BUSINESS
Trump’s TikTok plan upended by Chinese objections over tariffs
In a post on his Truth Social network, Trump reiterated his desire for China to help negotiate a sale and suggested that the US could provide tariff relief in exchange for Beijing’s approval.
BUSINESS
US stock market wipes out over $5 trillion on Trump’s tariff war
The S&P 500 has lost 11% the past two sessions in the steepest two-day slide since March 2020, when the Covid pandemic pushed the global economy into lockdown.
BUSINESS
JPMorgan says Trump’s tariffs to send US into recession
Trump’s announcement Wednesday of major tariffs on US trading partners around the world sent the S&P 500 index of US stocks to its lowest level in 11 months, wiping away $5.4 trillion of market value in just two trading sessions to close out the week.
BUSINESS
Trump tariffs drive US tech shares to brink of bear market
The selloff represents the biggest slump for the Nasdaq 100 since 2022, a year that saw the benchmark decline 33% amid slowing economic growth and shrinking profits
WORLD
US payroll growth beats forecasts, unemployment rate ticks up
The unemployment rate ticked up to 4.2% as the participation rate climbed. Pay gains were firm.
BUSINESS
Oil slides to four-year low on hit from Trump tariffs and OPEC supply
Fuelling the oil sell-off was a decision by the Organization of the Petroleum Exporting Countries and its allies, known collectively as OPEC+, to advance plans for output increase
BUSINESS
India looks to support edgy exporters after Trump’s tariff blow
With the announcement of harsher-than-expected levies, exporters in India are ratcheting up pressure on New Delhi to seal the trade deal as quickly as possible
WORLD
JPMorgan sees global recession odds at 60% if tariffs sustained
Several Wall Street firms on Thursday warned of a US recession, with some making it their base case, after Trump announced major levies on imports
WORLD
How much wealth did Musk, Bezos, Zuckerberg lose as Trump's tariffs see Wall Street crumble
The drop is the fourth-largest one-day decline in the Bloomberg Billionaires Index’s 13-year history, and the largest since the height of the Covid-19 pandemic
BUSINESS
How Trump’s tariffs were honed in final hours before rollout
Critical decisions about the duties’ structure went down to the wire, even as steel and auto workers were being summoned to the White House Rose Garden for their unveiling
WORLD
States sue Trump over election order, warn of voting ‘chaos’
The states argue Trump’s order violates the Constitution by usurping their authority to manage elections
WORLD
China, US make first-known military contact since Trump’s inauguration
Military officials from the US and China held a maritime safety consultation in Shanghai on Wednesday and Thursday
WORLD
JD Vance downplays ‘one bad day’ for markets, promising boom later
Vance’s comments came a day after Trump's tariffs erased $2.5 trillion in collective value from US stocks
WORLD
Trump open to tariff cuts in return for ‘phenomenal’ offers
Trump, speaking on Air Force One on Thursday, said he thinks 'markets are going to boom'. 'Got to give it a little bit of time.
WORLD
Trump sued over tariffs by small US firm claiming ‘severe’ harm
A firm in its lawsuit said having to pay extra to import products from China will inflict “competitive injury in the form of higher costs, competitive disadvantage and lost profits”
MARKETS
Oil tumbles as surprise OPEC+ hike, Trump tariffs depress prices
West Texas Intermediate futures plummeted 6.6% to settle below $67 a barrel, while global benchmark Brent dropped 6.4% to end the session near $70
WORLD
India’s reciprocal tariff set at 26% as US clarifies rate confusion
In the annex document, India’s rate was originally listed at 27%, rather than the 26% shown previously by Trump, before later being revised down to 26%
WORLD
Asia bears brunt of Trump tariffs, needs to ease, say economists
The Trump administration’s tariffs come at a time when Asian economies are already grappling with tepid growth, with sticky inflation keeping some central banks on high alert
WORLD
Asia shares fall after worst Wall Street day since 2020
Japanese shares sank to the lowest level since August. Markets in China and Hong Kong are closed
BUSINESS
Trump tariffs wipe out $2 trillion from US stock market
The breadth and severity of the levies dwarfed those imposed by Trump during his first term, threatening to upend global supply chains, exacerbate an economic slowdown
