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UK govt races against time to keep steel furnaces running
Britain's government on Monday raced to secure raw materials to keep the country's last steelmaking blast furnaces running after passing emergency legislation to take control of British Steel. The Labour-run government must now secure the materials to keep the two blast furnaces at the plant -- the last in the UK which makes steel from scratch -- running.
Meta faces landmark US antitrust trial
Social media juggernaut Meta stands trial on Monday facing serious US government allegations that it abused its market power to acquire Instagram and WhatsApp before they could become competitors. Google is facing two cases and was found guilty of search-market dominance abuse last August, while Apple and Amazon are also heading to court.
Helicopter company that ran deadly New York tour shuts down
The helicopter tour company behind a crash in New York that killed six people last week is shutting down, US authorities said Sunday.
Xi warns protectionism 'leads nowhere' as he arrives in Vietnam
Chinese leader Xi Jinping warned that protectionism "leads nowhere" and that a trade war would have "no winners", state media said, as he arrived in Vietnam on Monday on the first leg of a Southeast Asia tour.
China's exports beat forecast in March despite trade war woes
China said Monday that exports soared 12.4 percent year-on-year last month, beating expectations as Beijing navigated mounting trade headwinds sparked by US President Donald Trump. "The strong export data reflect frontloading of trade before the US tariffs were announced," Zhiwei Zhang, President and Chief Economist at Pinpoint Asset Management said in a note.
Trump tariff rollercoaster complicates ECB rate call
US President Donald Trump's on-and-off tariffs have clouded the picture for European Central Bank policymakers meeting this week to decide whether to lower eurozone interest rates again. But Trump's move to impose sweeping tariffs on the European Union and the rest of the world increased the chances of another reduction in interest rates, according to observers.
Asian stocks rise on electronics tariffs exemption, gold hits new high
Asian stocks rose Monday as trade war fears were tempered by Donald Trump's announcement of tariff exemptions for electronics, though the dollar weakened and safe-haven gold hit a fresh record amid fears the relief would be short-lived.
Xi warns protectionism 'leads nowhere' as starts SE Asia tour
Chinese leader Xi Jinping warned Monday that protectionism "leads nowhere" and that a trade war would have "no winners", state media said, as he was due to kick off a tour of Southeast Asia with a visit to Vietnam. He also reiterated Beijing's line that a "trade war and tariff war will produce no winner, and protectionism will lead nowhere", the agency added.
Trump downplays tariffs walk-back, says no country 'off the hook'
US President Donald Trump warned Sunday that no country would be getting "off the hook" on tariffs despite a 90-day reprieve on some levies, while also downplaying exemptions for Chinese technology.
AFP
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