Economy

Empty shelves? US Treasury secretary not concerned 'at present'
Empty shelves? US Treasury secretary not concerned 'at present'

US Treasury Secretary Scott Bessent said Monday he was not concerned "at present" about American stores potentially running out of items due to Donald Trump's tariffs. Asked during an interview with Fox News if he was concerned about mounting worries of empty shelves due to the tariffs, Bessent replied: "Not at present."

India says signs deal with France for 26 Rafale fighter jets
India says signs deal with France for 26 Rafale fighter jets

India has signed a contract to purchase 26 Rafale fighter jets from France, New Delhi's defence ministry said Monday, with the multi-billion-dollar deal to include both single and twin-seat planes. "The governments of India and France have signed an inter-governmental agreement for the procurement of 26 Rafale Aircraft," the defence ministry said in a statement.

Italy bank merger wave heats up as Mediobanca eyes Banca Generali
Italy bank merger wave heats up as Mediobanca eyes Banca Generali

Italian bank Mediobanca, itself battling to fend off a hostile takeover by a rival, announced on Monday a 6.3-billion-euro ($7.2 billion) bid to buy wealth management firm Banca Generali. Mediobanca is itself trying to fend off a hostile takeover by state-backed Banca Monte Paschi di Siena (MPS) as the Italian banking industry sees a wave of hostile bids.

China says on 'right side of history' in trade standoff with US
China says on 'right side of history' in trade standoff with US

A top Chinese economic official on Monday said Beijing was on the "right side of history" in its gruelling trade war with the United States. Speaking in Beijing at a news conference at which officials vowed greater steps to shield China's flagging economy from the impact of the standoff, senior economic planner Zhao Chenxin said Beijing was "on the right side of history".