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Retail sales rise 1.4% in March as shoppers stock up on big ticket items ahead of tariffs
NEW YORK (AP) — U.S. shoppers stepped up their shopping last month, fueled by a spending spree on big ticket items, particularly cars, before President Donald Trump’s expansive new tariffs started kicking in. But analysts were quick to point out that the data wasn’t a sign of strength but underscored the extreme ec[...]
World Trade Organization says global trade could slide this year because of Trump’s tariff policies
GENEVA (AP) — The World Trade Organization says the volume of trade in goods worldwide is likely to decrease by 0.2% this year due to U.S. President Donald Trump’s shifting tariff policies and a standoff with China, but it would take a more severe hit if Trump carries through on his toughest “reciprocal” tariffs. T[...]
California will sue to stop Trump from imposing sweeping tariffs
SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom sued the Trump administration on Wednesday, challenging the president’s authority to impose sweeping tariffs that have set off a global trade war. The lawsuit argues that President Donald Trump’s use of the International Emergency Economic Powers Act to impo[...]
Tech shares fall after Nvidia says new US controls on exports of AI chip will cost it $5.5 billion
BANGKOK (AP) — Shares in computer chip makers slumped early Wednesday after Nvidia said tighter U.S. government controls on exports of computer chips used for artificial intelligence will cost it an extra $5.5 billion. The company, which announced Monday that it will produce its artificial intelligence super computers in the[...]
Bank of America ordered to pay $540 million in long-running lawsuit from the FDIC
NEW YORK (AP) — A federal judge has ordered Bank of America to pay more than $540 million to resolve long-running litigation from a U.S. regulator that alleged the company underpaid mandatory assessments for deposit insurance. The order, reached March 31 and published publicly on Monday, arrives over eight years after the Fede[...]
The Latest: Trump considers a pause on his auto tariffs
The federal government says it’s freezing more than $2.2 billion in grants and $60 million in contracts to Harvard University after the institution said it would defy the Trump administration’s demands to limit activism on campus. Meanwhile, President Donald Trump has suggested he might temporarily exempt the auto[...]
Meta CEO Mark Zuckerberg takes the stand in historic antitrust trial
WASHINGTON (AP) — A historic antitrust trial began Monday for Meta Platforms Inc. in a case that could force the tech giant to break off Instagram and WhatsApp, startups it bought more than a decade ago that have since grown into social media powerhouses. The trial is bringing Meta CEO Mark Zuckerberg into federal court in W[...]
The Latest: El Salvador’s president says he won’t release Kilmar Abrego Garcia back to the US
President Donald Trump ‘s top advisers and Nayib Bukele, the president of El Salvador, said Monday that they had no basis for the small Central American nation to return Kilmar Abrego Garcia, a Maryland man who was wrongly deported there last month. Trump administration officials emphasized Abrego Garcia, who was sent to[...]
China’s Xi says there are no winners in a tariff war as he visits Southeast Asia
HANOI, Vietnam (AP) — China’s leader Xi Jinping said no one wins in a trade war as he kicked off a diplomatic tour of Southeast Asia on Monday, presenting China as a force for stability in contrast with U.S. President Donald Trump’s latest moves on tariffs, Although Trump has paused some tariffs, he has kept in [&[...]
Trump’s commerce secretary says new electronics tariff exemptions are temporary, chip tariffs coming
NASHVILLE, Tenn. (AP) — Tariff exemptions announced Friday on electronics like smartphones and laptops are only a temporary reprieve until the Trump administration develops a new tariff approach specific to the semiconductor industry, U.S. Commerce Secretary Howard Lutnick said Sunday. “They’re exempt from the reciproc[...]
Freak sell-off of ‘safe haven’ US bonds has Wall Street rattled
NEW YORK (AP) — The upheaval in stocks has been grabbing all the headlines, but there is a bigger problem looming in another corner of the financial markets that rarely gets headlines: Investors are dumping U.S. government bonds. Normally, investors rush into Treasurys at a whiff of economic chaos but now they are selling them[...]
US stocks climb in shaky trading but the US dollar and government bonds sink as trade-war fears rise
NEW YORK (AP) — U.S. stocks are climbing in shaky trading Friday as President Donald Trump’s trade war with China escalates further and U.S. households get more worried about it. Gold’s price is rising, the U.S. dollar’s value is falling and other financial markets are also swinging in indications of [...]
