AFP
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Trump admits trade war 'cost' as markets hit
Jitters about US tariffs hammered Asian stocks again early Friday as President Donald Trump acknowledged a "cost" to his surging trade offensive against superpower rival China. Trump acknowledged "a transition cost and transition problems," but dismissed global market turmoil.
Despite Trump pause, overall US tariff rate at highest in a century
US President Donald Trump's delay of steeper tariffs may have won brief respite on Wall Street, but analysts say his actions -- which hit China especially hard -- already bring the average US effective tariff rate to its highest in over a century.
Panama deal allows US to deploy troops to canal
US troops will be able to deploy to a string of bases along the Panama Canal under a joint deal seen by AFP Thursday, a major concession to President Donald Trump as he seeks to reestablish influence over the vital waterway. Trump vow to take back the canal, and his claim of Chinese influence have prompted mass demonstrations.
US auto union praises some Trump tariffs
The head of the US auto workers union endorsed car tariffs Thursday as a way to address the "free trade disaster" while rejecting use of the levies for "political games." "We don't support the use of tariffs for political games about immigration or fentanyl.
Tesla opens first showroom in oil-rich Saudi
The Tesla electric vehicle company owned by billionaire Elon Musk on Thursday opened its first showrooms in oil-rich Saudi Arabia -- where hybrid cars remain a rare sight. Mainly young Saudis gathered to look at the Tesla cars, even though demand for electric vehicles is low in Saudi Arabia.
US-China trade war surges, overshadowing Trump climbdown
The US-China trade war intensified Thursday, sending the global economy into unknown territory and dampening relief after President Donald Trump's earlier climbdown from a wider tariff onslaught against the rest of the world. But realization that Trump's splashy about-face on Wednesday masked the reality of a surging trade war with China dampened spirits.
OpenAI countersues Musk as feud deepens
Artificial intelligence giant OpenAI has filed counterclaims against multi-billionaire Elon Musk, accusing its former co-founder of waging a "relentless campaign" to damage the organization after it achieved success without him.
Miuccia Prada's path from activist to top designer
As a student in the volatile May of 1968, Miuccia Prada took to the streets of Milan to demonstrate for women's rights wearing an Yves Saint Laurent suit. Ironically, her first women's ready-to-wear show in Milan in 1988, all in black and white, was not well received, with critics considering it too austere.
Italy's Prada agrees to buy rival Versace for 1.25 bn euros
Italian fashion house Prada announced Thursday it had reached a deal with US group Capri Holdings to buy its flashy rival Versace for 1.25 billion euros ($1.38 billion). In 2018, Capri paid 1.83 billion euros (then $2.1 billion) to acquire Versace, which was previously owned 80 percent by the Versace family and 20 percent by the US investment fund BlackRock.
AFP
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