New Tariffs Could Worsen America’s Housing Crisis
President Trump’s tariffs on timber, wood, furniture and kitchen cabinets could raise the cost of building and buying a home. Source link
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NPS returns: National Pension System delivers 13% annual returns; ‘offers flexibility and choice,’ says FM
Finance minister Nirmala Sitharaman on Wednesday hailed the National Pension System (NPS) saying that it has emerged as a high performing and cost effective retirement planning tool, with some of the best returns among global pension products.Speaking at the NPS Diwas conference in New Delhi, organised by the Pension Fund Regulatory and Development Authority (PFRDA),…
Fed’s Independence in Jeopardy Despite Latest Lisa Cook Victory
A Supreme Court order keeping Lisa Cook on the Federal Reserve Board for now is “a time to exhale but not breathe easy,” one expert said. Source link
OpenAI valuation: ChatGPT parent is now worth $500 billion; more than SpaceX and ByteDance
ChatGPT maker OpenAI’s valuation has surged to $500 billion after employees and former staff cashed out $6.6 billion worth of shares in a secondary sale, a source familiar with the deal told Reuters. With this valuation, the AI giant has left behind SpaceX and ByteDance.The transaction lifts the artificial intelligence company’s value from $300 billion…
Rail Operator CSX Ousts Chief Executive After Activist Pressure
Joe Hinrichs was replaced by Steve Angel, who may be more likely to consider a merger on the heels of the Union Pacific and Norfolk Southern deal. Source link
EU steel tariffs: European Commission plans higher duties; aim to protect local producers
The European Union is preparing to increase tariffs on steel imports as part of a push to protect local producers from cheap Asian steel and new trade barriers from the United States.The European Commission is expected to unveil a permanent plan next week, which will also slash the EU’s existing steel quotas for foreign steel…
Charlie Javice Sentenced to 85 Months in Prison for Fraud
A federal jury in March had found Ms. Javice guilty for faking customer lists during JPMorgan Chase’s $175 million acquisition of her start-up. Source link
US-South Korea deal: Seoul says rough security agreement reached; Washington to review currency swap deal
South Korea and the United States have reached a preliminary agreement on security, as both countries continue to negotiate trade and tariff issues, according to Yonhap news agency.In an interview published on Thursday, South Korean foreign minister Cho Hyun said that the US is currently reviewing a currency swap deal, a key demand from Seoul…
Trump Announces Pfizer Deal to Lower Some Drug Prices and Unveils TrumpRx Website
The administration also announced it will create a website, TrumpRx, that will help consumers buy drugs directly from manufacturers. Source link
Asian stocks: Market trades in green on US rate cut hopes, chip deals; Kospi jumps 3%, Nikkei over 350 points
Asian stocks jumped on Thursday, lifted by US job data reports that hinted at possible interest rate cuts, even as parts of the US government partially shut down.Japan’s Nikkei was up 359 points or 0.8%, trading at 44,910. Kospi gained 3% to each 3,562 while HSI surged 390 points reaching 27,245, at 10:00 AM IST….