Author: Arabian Media staff

Average payroll gain over past three months is weakest in two years, leading Trump to push for lower interest rates. Source link

U.S. trade wars turbocharged sales of new cars and trucks in the spring to a four-year high, but the mad dash by consumers to avoid tariff-related price increases ran out of gas in May. Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Following a bit of a wobble around tariff shenanigans, corporate bond spreads are tight once more. The average single-B US corporate bond yields around 3.4 per cent more than US Treasuries — around 1.8 per cent below its long-term average.Some content could not load. Check your internet connection or browser settings.This is despite downgrades to economic growth projections, and interest rates remaining stubbornly high. Maybe this makes sense? After all, default rates have not been particularly high.If we’re looking for signs that…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldSteel again. It’s always steel. The proximate cause of Donald Trump’s decision to double steel and aluminium tariffs from Wednesday morning to 50 per cent — one of the few recent duty increases he hasn’t pulled out of — was most likely fury at last week’s federal court ruling against the broader (and wrongly named) “reciprocal” tariffs.But it’s so familiar for the US — indeed for many governments — to be protecting the sector from imports that steel tariffs are…

Taco Tuesday is becoming Taco Everyday, analysts say. But not every publicly traded Mexican chain has fared well on Wall Street lately. Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Apple’s rollout of artificial intelligence services in China with Alibaba is being held up by a Beijing regulator, as the tech partnership becomes the latest casualty of Donald Trump’s trade war.The tech giants have been working together to launch Apple Intelligence, the iPhone-maker’s suite of AI services, for Chinese users. The system would be supported by Alibaba’s latest models.Multiple AI products co-developed by the tech companies have been submitted this year to China’s internet authority for approval. But their applications are stalled…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Around 100,000 UK taxpayers were affected by a phishing attack last year that targeted online accounts at HM Revenue & Customs, the tax authority disclosed on Wednesday.A notice on the agency’s website said the attack was “an attempt to claim money from HMRC” and involved “unauthorised access to some customers’ online accounts”.The disclosure was made as HMRC’s new chief executive John-Paul Marks was speaking to MPs on the House of Commons Treasury select committee. The MPs criticised HMRC for not disclosing the…

Stay informed with free updatesSimply sign up to the EU trade myFT Digest — delivered directly to your inbox.The EU is pressing China to loosen restrictions on exports of rare earths because of an “alarming situation” for the bloc’s car industry, with production lines in danger of grinding to a halt.European trade commissioner Maroš Šefčovič said he had questioned Chinese commerce minister Wang Wentao about the shortage of vital rare earth elements and magnets in a meeting on Tuesday. China’s new licensing system for the materials is slowing deliveries to manufacturers of products ranging from cars to washing machines. The…

“Are there other types of loans I should be thinking about?” Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US industrials Chart Industries and Flowserve have agreed a $19bn all-stock merger, in a push to create a leading provider of products and services addressing the movement of liquids and gases for sectors including LNG, nuclear energy and data centres.Chart specialises in handling gas and liquids at extremely low temperatures largely aimed at industrial clients, while Flowserve caters to water and chemicals companies, offering pumps, valves, seals and flow control products and services. The $19bn deal, which includes debt, was framed by…