Caterpillar has trimmed corporate travel and other discretionary spending to offset a tariff hit, but has no plans to raise prices or overhaul supply chains, executives said Wednesday. The company is not currently considering price increases due to tariffs, partly out of the hope that Trump will reach trade deals that remove the levies, executives said.
France's economy returned to growth in the first three months of the year but the expansion was modest, held back by sluggish household consumption and stagnant investment, official data showed Wednesday.
Dangote Sugar Refinery is actively working to increase sugar production by maximizing the use of locally grown sugarcane, and the results are showing in its finances
Tokyo's tariffs envoy departed Wednesday for a second round of negotiations in Washington, where Japan could offer concessions such as tweaking vehicle import procedures to secure relief from Donald Trump's trade levies. The yen has risen significantly since Trump's tariffs were announced -- it was trading at 142 for a dollar on Wednesday, compared with 158 in mid-January. kh-hih-kaf/dan
Stocks started limply Wednesday as investors struggled to match Wall Street's rally, with data showing Chinese factory activity contracted this month at its fastest pace for nearly two years as Donald Trump's trade war kicked in.
South Korean tech giant Samsung Electronics reported a better-than-expected 21.7 percent rise in first-quarter net profit on Wednesday as consumers rushed to buy smartphones under the looming threat of US tariffs. The world's largest memory chipmaker reported net profit of 8.22 trillion won ($5.75 billion) for the January–March quarter, up 21.7 percent on-year.
China's manufacturing activity shrank in April after growing at its highest rate in a year the previous month, official data showed Wednesday, as Beijing fights an intensifying trade war with the United States.
Since returning to the White House, Donald Trump has ushered in sweeping changes to international geopolitics and US government administration with little regard for norms that have constrained predecessors. The White House quickly shifted its tone on China and Trump reassured the public that he won't fire Powell.
US GDP figures for the first quarter are expected to show a sharp drop-off in growth -- and possibly even a recession -- reflecting a surge in imports before President Donald Trump's sweeping tariffs came into effect.
China, Brazil and other members of the BRICS grouping on Tuesday slammed the "resurgence of trade protectionism" at a meeting in Rio de Janeiro dominated by US President Donald Trump's tariffs blitz. Some BRICS members have, however, escaped the worst of Trump's trade ire.
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