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...
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...
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...
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...
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...
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...
Intel is selling a 51% stake in its Altera semiconductor business to Silver Lake for $8.75 billion, making Altera operationally independent. Intel will retain 49% ownership. Altera, which makes FPGAs used in communications, robotics, and AI, generated $1.54 billion in revenue in fiscal year 2024. The deal, expected to...
Nintendo's upcoming Switch 2 and other Chinese-made gaming consoles face a significant setback due to the ongoing US-China trade war. Despite recent tariff exemptions on some tech products, game consoles remain subject to a 145% US tariff on goods manufactured in China. This revelation comes from an internal memo...
Sony is increasing PlayStation 5 console prices in Europe, Australia, and New Zealand, citing economic challenges like inflation and currency fluctuations. The price hikes, effective April 14th, affect the digital edition PS5, while the standard version's price remains unchanged in some regions. In Europe, the digital edition will...
The US dollar experienced a slight recovery after a tariff pause on consumer electronics, rising against the Swiss franc, yen, and euro. This rebound followed a 2.4% drop last week due to increased trade tensions with China and global growth concerns. However, President Trump's downplaying of the technology sector...
