Trump’s Economic Agenda Hinges on the Supreme Court’s Tariff Ruling
For the president, the power to issue limitless tariffs is at the heart of his second-term vision, from trade to foreign policy. Source link
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Klarna IPO debut: Stock jumps 30% on NYSE listing; Swedish BNPL firm eyes US market growth
Shares of Swedish buy-now-pay-later company Klarna surged 30% in their much-anticipated public debut on the New York Stock Exchange, opening at $52 compared to the IPO price of $40 set late Tuesday.More than 34 million shares worth about $1.37 billion were sold, making it the largest IPO this year, according to Renaissance Capital. It took…
FPI rules: Sebi eases compliance for govt securities investors; move to boost sovereign debt inflows
Markets regulator Sebi on Wednesday announced that foreign portfolio investors (FPIs) investing solely in government securities under the fully accessible route will no longer be required to provide investor group details.In a circular, Sebi said these investors will also be exempted from certain disclosure and reporting requirements applicable to regular FPIs. The changes are intended…
Federal Reserve board nomination: Senate panel clears Trump pick Stephen Miran; Democrats flag loyalty test risk
A US Senate committee on Wednesday advanced the nomination of President Donald Trump’s choice for the Federal Reserve board, Stephen Miran, despite concerns that he may not resign from the White House even if confirmed.Miran, who chairs the White House Council of Economic Advisers (CEA), cleared the Senate Banking Committee by a narrow 13-11 vote,…
Oracle shares soar 35% on AI demand; market valuation nears $915 billion, semiconductor stocks rally
Oracle shares surged about 35% on Wednesday after the company highlighted a surge in demand for its cloud services from AI firms, signalling a deeper push into the infrastructure supporting artificial intelligence systems. The growth in Oracle’s cloud business reflects a broader industry trend, with companies such as OpenAI and xAI ramping up spending on…
U.S. Drugmakers Warn White House of Chaos as Trump Weighs Curbs on China
Behind the scenes, major pharmaceutical companies and Trump-tied billionaires are furiously lobbying in opposite directions over proposed anti-China measures. Source link
‘No inflation!’: Donald Trump calls Jerome Powell a ‘total disaster’; pushes for urgent Fed rate cut
US President Donald Trump lashed out at the Federal Reserve on Wednesday after fresh data showed US producer prices unexpectedly fell in August, sharpening his demand for an immediate rate cut.In a post on his Truth Social, Trump posted “Just out: No Inflation!!! ‘Too Late’ must lower the RATE, BIG, right now. Powell is a…
Ozempic Maker Novo Nordisk to Cut 9,000 Jobs
The Danish drugmaker said it needed to streamline operations and become more agile, as it faces a more competitive and consumer-focused market. Source link
Industrial boost: Vedanta in process of land acquisition for 3 MTPA smelter; aluminium park in Jharsuguda also on cards
Vedanta is in the process of acquiring land in Dhenkanal, Odisha, for its proposed three million tonnes per annum (MTPA) aluminium smelter, which the company says could create over two lakh jobs.“We are moving towards setting up a new mega aluminium plant at Dhenkanal, Odisha, (with a capacity of) three million tonnes,” said Rajiv Kumar,…
Inside Lutnick’s Department of Deal-making
Commerce Secretary Howard Lutnick is building an investment accelerator inside the agency, though his hardball tactics with companies are raising concern. Source link