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JPMorgan logs Q1 profit of $14.6 billion as CEO warns of uncertainty over global trade, other events
NEW YORK (AP) — JPMorgan’s net income rose 9% to $14.6 billion in the first quarter and the New York bank beat Wall Street’s profit and revenue targets, but it’s chief executive warned of global economic uncertainties ahead due to President Donald Trump‘s ongoing trade war and other geopolitical tensi[...]
The Latest: Global tariff battle escalates as China retaliates with 125% tariffs on US goods
China announced Friday that it will raise tariffs on U.S. goods from 84% to 125% — the latest salvo in an escalating trade war between the world’s two largest economies that has rattled markets and raised fears of a global slowdown. While U.S. President Donald Trump paused import taxes this week for other countries,[...]
Wayfair to vendors: Hold off on tariff increases
BOSTON — In a letter to vendors, Niraj Shah, CEO and co-founder of digitally native home furnishings retailer Wayfair, urged patience and timing as it relates to any tariff-related price increases. The letter, sent on April 8 and obtained by Furniture Today, highlighted Shah’s thoughts on how to navigate the landscape,[...]
Apple has few incentives to start making iPhones in U.S., despite Trump’s trade war with China
SAN FRANCISCO (AP) — President Donald Trump‘s administration has been predicting its barrage of tariffs targeting China will push Apple into manufacturing the iPhone in the United States for the first time. But that’s an unlikely scenario even with U.S tariffs now standing at 145% on products made in China — the [...]
Another U-Turn: Trump reverses tariffs that caused market meltdown, but companies remain bewildered
WASHINGTON (AP) — President Donald Trump delivered another jarring reversal in American trade policy Wednesday, suspending for 90 days import taxes he’d imposed barely 13 hours earlier on dozens of countries while escalating his trade war with China. The moves triggered a powerful stock market rally on Wall Street bu[...]
US stocks dive as euphoria on Wall Street reverts to fear about US-China trade war
NEW YORK (AP) — U.S. stocks dove Thursday and surrendered a chunk of their historic gains from the day before as President Donald Trump‘s trade war continues to threaten the economy. The S&P 500 tumbled 3.5%, slicing into Wednesday’s surge of 9.5% following Trump‘s decision to pause many of his tari[...]
The Latest: S&P 500 falls 2% at the open despite Trump’s tariff pause
U.S. stocks are giving back some of their historic gains from the day before as Wall Street weighs a global trade war that has cooled in temperature but is still threatening the economy. The S&P 500 was down 2.3% early Thursday, a day after surging 9.5% following President Donald Trump ‘s decision to pause many of h[...]
Microsoft says it’s ‘slowing or pausing’ some AI data center projects, including $1B plan for Ohio
Microsoft said it is “slowing or pausing” some of its data center construction, including a $1 billion project in Ohio, the latest sign that the demand for artificial intelligence technology that drove a massive infrastructure expansion might not need quite as many powerful computers as expected. The tech giant confirmed thi[...]
North Carolina furniture manufacturer: Business is great; Trump’s tariffs are one reason
HIGH POINT — Last fall, Chris Morris saw an opportunity in residential upholstery manufacturing and decided to revise his business strategy to accommodate it. With an eye on upholstery manufacturers seeking out a domestic, private-label partner, Morris created a plan to increase production for residential upholstery at his Vi[...]
Trump’s latest round of tariffs have taken effect — and more retaliation is coming. What we know
NEW YORK (AP) — President Donald Trump has launched tariff wars with almost all of America’s trading partners. And his track record of on-again, off-again new levies continued Wednesday with a 90-day pause for most nations targeted by the latest volley of import taxes, hours after they went into effect. Just after [...]
Trump signs executive orders to boost coal, a reliable but polluting energy source
WASHINGTON (AP) — President Donald Trump on Tuesday signed a series of executive orders aimed at boosting the struggling coal industry, a reliable but polluting energy source that’s long been in decline. Under the orders, Trump uses his emergency authority to allow some older coal-fired power plants set for retirement [...]
The Latest: Trump expected to sign executive orders to boost coal
President Donald Trump is expected to sign executive orders Tuesday aimed at boosting coal, a reliable but polluting energy source that’s long been in decline. According to two senior White House officials, Trump will use his emergency authority to allow some older coal-fired power plants set for retirement to keep produc[...]
