Business

U.S. President Donald Trump has signed an executive order doubling existing import tariffs on steel and aluminium products from 25 percent to 50 percent. The measure, which takes effect on June 5, intensifies a series of ongoing trade disputes and places new pressure on global supply chains and diplomatic relations. The revised tariffs, enacted under national security provisions in Section …

In a move marking a significant shift in regulatory policy under President Donald Trump’s second term, the U.S. Securities and Exchange Commission (SEC) has formally ended its civil enforcement action against Binance, the world’s largest cryptocurrency exchange. The case dismissal was made official through a joint filing in a federal court in Washington, D.C., on May 29, according to court …

In April 2025, Chinese electric vehicle manufacturer BYD surpassed Tesla in battery-electric vehicle (BEV) sales across Europe for the first time, signaling a notable shift in the region’s EV market dynamics. According to data from JATO Dynamics, BYD registered 7,231 BEVs, narrowly edging out Tesla’s 7,165 units. The European BEV market experienced a 28% year-over-year increase in registrations during April, …

Despite posting one of its strongest financial quarters to date, Microsoft has initiated a major global workforce reduction affecting more than 6,000 employees, or approximately 3% of its total headcount. The layoffs come in the wake of the company’s $70.1 billion in quarterly revenue and $25.8 billion in net profit, underscoring a broader shift in strategic priorities tied to artificial …

Moody’s Ratings has lowered the United States’ long-term credit score from Aaa to Aa1, marking the country’s final removal from the highest-tier sovereign credit rating among major rating agencies. The downgrade reflects deepening concerns about the nation’s growing debt burden and persistent structural fiscal imbalances, which Moody’s said are heading in a direction that lacks sustainability. This action aligns Moody’s …

China’s holdings of US Treasury securities have fallen below those of the United Kingdom for the first time since 2000, marking a significant shift in the global ownership of American government debt. This development comes amid growing geopolitical friction, economic uncertainty, and investor unease about the trajectory of US fiscal policy. Recent data from the US Treasury Department shows that …

Manufacturing activity in the United States experienced its most significant decline in five months during April, with the sector facing continued challenges from soft demand and the lingering effects of trade policies. New data shows that factory output dropped at its sharpest rate since 2020, reflecting deeper instability in the industrial landscape. The Institute for Supply Management (ISM) reported a …

During the recent spring meetings of the International Monetary Fund (IMF) and the World Bank, IMF Managing Director Kristalina Georgieva emphasized the urgent need for nations to resolve ongoing trade disputes that are threatening global economic stability. She highlighted that the uncertainty stemming from aggressive tariff policies, particularly those implemented by the United States, is causing businesses to delay investments …