By Akash Sriram (Reuters) -U.S. federal budget cuts have started to have some early impact on space startups after funding for such companies dropped 12.5% in the first quarter, according to investment firm Seraphim Space. Elon Musk-led Department of Government Efficiency and the Trump administration have been delaying or cancelling contracts across its agencies to […]
Broadening asset volatility intensifies worries for tariff-tossed US stocks
By Lewis Krauskopf NEW YORK (Reuters) -Wild swings in global markets are poised to keep U.S. stock investors on edge in the coming week, as a weakening dollar and a selloff in Treasuries compound extreme equity volatility that erupted after President Donald Trump launched his sweeping tariffs. The S&P 500 was set for solid gains […]
Analysis-Mighty U.S. dollar feels heat as Trump’s tariffs spark trade turmoil
By Rae Wee SINGAPORE (Reuters) – In just a week, the dollar has gone from a safe haven to investors’ whipping boy as U.S. President Donald Trump’s chaotic tariffs on friend and foe alike undermine decades of trust in the world’s reserve currency. The sudden loss of confidence was nowhere more stark than in the […]
Tesla stops taking new orders in China for two imported, US-made models
BEIJING (Reuters) -Tesla has suspended taking new orders for Model S and Model X vehicles on its Chinese website, Reuters checks showed on Friday, as the world’s two largest economies exchange blows in a trade war. Both models are made in the U.S. and imported to China. New orders for the two models were also […]
Citi names insider Raymond Gatcliffe as CEO of Canada operations
(Reuters) – Citigroup on Thursday named Raymond Gatcliffe, a three-decade company veteran, as the chief executive officer of its Canada operations. Gatcliffe, whose appointment is effective April 1, succeeds CEO John Hastings, who will stay on as a member of the board. Hastings was at the helm since 2010, according to his LinkedIn profile. The […]
Chinese tea brand Chagee targets $5.1 billion valuation in US IPO amid choppy market conditions
By Arasu Kannagi Basil, Pritam Biswas (Reuters) -Chinese tea chain Chagee said on Thursday it was targeting a valuation of up to $5.1 billion in its U.S. initial public offering, braving choppy market conditions. Market volatility stemming from uncertainty over U.S. trade policy has tempered IPO activity as companies adopt a wait-and-see approach before proceeding. […]
US targets Iran ‘shadow fleet’ operations with more sanctions
WASHINGTON (Reuters) – The United States issued new sanctions targeting Iran’s “shadow fleet” on Thursday, citing one individual and India- and United Arab Emirates-based groups whose vessels have transported Iranian oil. The Treasury Department cited United Arab Emirates (UAE)-based Indian national Jugwinder Singh Brar, who owns shipping companies with a fleet of nearly 30 vessels. […]
Novavax shares tumble after U.S. health secretary raises concerns over COVID shot’s efficacy
(Reuters) -Vaccine maker Novavax’s shares plunged over 22% on Thursday after Health and Human Services Secretary Robert F. Kennedy Jr. raised concerns about the company’s COVID-19 vaccine in an interview with CBS News. The U.S. Food and Drug Administration, an agency that is part of the U.S. Department of Health and Human Services, missed its […]
G7 excluding US discussed their stance on Trump tariffs, Italy says
ROME (Reuters) – The Group of Seven countries, with the exception of the United States, discussed how to respond to U.S. President Donald Trump’s announcement last week of sweeping tariffs, Italy’s economy minister said on Wednesday. “Within the G7 all of us outside the U.S. spoke to try to calm the situation and find a […]
US imports set to fall 20% in second half of 2025 on Trump tariffs, NRF forecast shows
(Reuters) – Imports into the U.S. could be down at least 20% year-over-year in the second half of 2025 due to U.S. President Donald Trump’s sweeping tariffs on several trade partners, a forecast by the National Retail Federation showed on Wednesday. With Trump’s reciprocal tariffs coming into effect on Wednesday, along with additional tariffs on […]