Trump Signals Auto Tariff Relief, Shares Surge

 

US President Donald Trump signaled potential relief for the auto industry, causing a surge in shares of global carmakers. Trump hinted at assistance for companies, acknowledging the need for time to shift parts production to the US. This follows previous tariff threats that significantly impacted carmakers' shares and...

Trump Tariffs Cripple Small US Businesses

 

US tariffs on Chinese goods are severely impacting small and medium-sized businesses (SMBs). A PYMNTS Intelligence report reveals nearly 20% of SMBs are pessimistic about their survival in the next five years, with some facing potential layoffs and reduced production due to increased costs. Several business owners shared...

Trump's Tech Tariff Flip-Flop Creates Market Chaos

 

US tech companies face ongoing uncertainty regarding President Trump's fluctuating policy on tariffs imposed on Chinese imports. Initially, an exemption for tech products from a 125% tariff was announced, offering temporary relief. However, this was quickly followed by conflicting statements from administration officials, suggesting that tariffs may be applied...

Zuckerberg Defends Meta in Monopoly Trial

 

Meta CEO Mark Zuckerberg is defending Meta in a US antitrust trial. The Federal Trade Commission (FTC) alleges Meta illegally monopolized social media through its acquisitions of Instagram and WhatsApp. Zuckerberg testified that the acquisitions were to improve technology and grow the company, not to eliminate competition. The FTC...

Government Saves British Steel with Urgent Material Supply

 

The UK government has secured shipments of coking coal and iron ore from the US and Australia to keep British Steel's Scunthorpe blast furnaces operating for several weeks. This follows a weekend takeover after negotiations with the Chinese owner, Jingye, broke down. The government's intervention aims to prevent the...

Zuckerberg defends Meta acquisitions in FTC antitrust trial

 

Meta CEO Mark Zuckerberg testified before the FTC, defending Meta's acquisitions of Instagram and WhatsApp. The FTC alleges these acquisitions created a social media monopoly, potentially forcing Meta to divest if found guilty. Zuckerberg argued that Meta faces significant competition and that regulators approved the acquisitions years ago. ...

Tax Deadline Extension for 2024 Disaster Victims

 

The IRS announced tax filing deadline extensions for Americans affected by 2024 natural disasters. Those in FEMA-declared disaster areas, including parts of Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia, have until May 1st to file, instead of April 15th. Los Angeles wildfire victims have...

Zuckerberg Defends Meta in FTC Antitrust Trial

 

Mark Zuckerberg testified in the FTC's antitrust trial, defending Meta against claims of anti-competitive practices. The trial focused on Meta's 2012 acquisition of Instagram, with the FTC alleging it was a move to eliminate a rival. Zuckerberg explained his reasoning behind the acquisition, citing Instagram's rapid growth and...

Global Stocks Surge After Trump Tariff Relief

 

Global stocks rallied Monday following President Trump's temporary tariff relief on electronics and hints of auto tariff pauses. The S&P 500 rose 0.8%, the Dow gained 312 points, and the Nasdaq added 0.6%. Technology and auto stocks led the gains. While the bond market showed signs of...

Small Businesses Sue Trump Over Illegal Tariffs

 

Five small businesses have sued President Trump, challenging his newly imposed tariffs as an illegal overreach of congressional power. The lawsuit, filed in the U.S. Court of International Trade, argues that Trump's declaration of a trade deficit emergency to justify the tariffs lacks legal basis. The Liberty Justice...