Economy

“Recession risks rise for all three North American economies over US tariff chaos”

“Risks to the Mexican, Canadian and American economies are piling up amid a chaotic implementation of U.S. tariffs that has created deep uncertainties for businesses and decision-makers, according to Reuters polls of economists taken this week… “Given this is so… Continue Reading…

Business, Economy

“Volkswagen and Stellantis evade Trump’s 25% tariffs, while BMW braces for impact”

“Last week, it was announced that President Donald Trump’s new 25% tariffs on Mexico and Canada would exempt vehicles that comply with the USCMA trade deal. German carmaking giant Volkswagen told CNBC that its operations meant it would be exempt… Continue Reading…

Economy

“Trump puts new limits on Elon Musk’s authority amid backlash to DOGE cuts”

“President Donald Trump said he told his Cabinet secretaries during a meeting Thursday that staffing decisions will be left up to them, not Elon Musk and his Department of Government Efficiency… “If they can cut, it’s better. If they don’t cut, then Elon… Continue Reading…

Economy

“U.S. payroll growth totals 151,000 in February, less than expected”

“Nonfarm payrolls increased by a seasonally adjusted 151,000 on the month, better than the downwardly revised 125,000 in January but less than the 170,000 consensus forecast. Federal government employment declined by 10,000 in February though government payrolls overall rose by… Continue Reading…

Cryptocurrencies

“Trump signs executive order establishing U.S. strategic bitcoin reserve”

“President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve. White House Crypto and AI Czar David Sacks said the reserve will be funded exclusively with bitcoin seized in criminal and civil forfeiture cases, ensuring that taxpayers bear… Continue Reading…

Economy

“U.S. will collapse Iran’s economy by shutting down its oil industry, Treasury secretary says”

“President Donald Trump’s sanctions against Iran are designed to shut down the country’s oil industry and “collapse its already buckling economy,” Treasury Secretary Scott Bessent said Thursday. The U.S. is deploying sanctions against Iran aggressively for “immediate maximum impact,” Bessent told… Continue Reading…

Economy

“Walmart Asks Chinese Suppliers for Major Price Cuts on Trump Tariffs”

“Walmart Inc. has asked some Chinese suppliers for major price reductions, with the US retail giant’s efforts to shift the burden of President Donald Trump’s tariffs facing strong pushback from firms in the Asian nation, according to people familiar with… Continue Reading…

Economy

“US trade deficit hits record high in January on imports surge”

“…The trade gap surged 34.0% to an all-time high of $131.4 billion from a revised $98.1 billion in December, the Commerce Department’s Bureau of Economic Analysis (BEA) said on Thursday. The percentage change was the largest since March 2015. Economists… Continue Reading…

Economy

“Wealth creation is booming as multimillionaire population jumps 5.2% in the U.S.”

“…The number of high-net worth individuals — or those with assets worth more than $10 million — rose 4.4% worldwide in 2024, to 2,341,378, but jumped 5.2% in North America, according to the annual Wealth Report by global real estate consultancy Knight… Continue Reading…

Economy

“Trump backs latest Canada, Mexico tariffs and preps markets for ‘a little disturbance’ during first address to Congress”

“The president even acknowledged economic discomfort when discussing tariffs, saying, “there’ll be a little disturbance, but we’re OK with that. It won’t be much.”…” https://finance.yahoo.com/news/trump-backs-latest-canada-mexico-tariffs-and-preps-markets-for-a-little-disturbance-during-first-address-to-congress-041815289.html Of course there will be a little pain. This will fix our problems as a… Continue Reading…