Chinese-owned luxury carmaker Lotus said Thursday that it planned to cut up to 550 UK jobs, in part over uncertainty caused by US President Donald Trump's tariffs. The carmaker, which is majority owned by Chinese auto giant Geely, has several sites in the UK, including its headquarters in Hethel, eastern England.
US President Donald Trump on Thursday said he was considering imposing a 15 or 20 percent blanket tariff on countries that had not yet received specific notifications, effective August 1. In his letters to leaders from more than 20 countries, Trump outlined duties ranging from 20 percent to 50 percent -- in the case of Brazil -- that would take effect on August 1.
US President Donald Trump has announced a 50 percent tariff on Brazilian imports as he accused the country's leftist leadership of orchestrating a "witch hunt" against his right-wing ally, former leader Jair Bolsonaro. Bolsonaro calls Trump a "friend" and says they are both victims of "persecution."
At Cuernavaca's Grill, a Mexican restaurant in the Fashion District of downtown Los Angeles, owner Nayomie Mendoza is used to seeing customers line up for lunch. Manuel Suarez, a street vendor near Cuernavaca's Grill, agreed.
As President Donald Trump ramps up tariff threats on US trading partners, his administration is taking aim at a tactic said to be used by Chinese companies to dodge the levies by moving goods through third countries.
Canada will face a 35 percent tariff on exports to the United States starting August 1, President Donald Trump said Thursday in a letter to Prime Minister Mark Carney. The letter on Thursday came despite what had been warming relations between Trump and Carney.
Shares of Delta Air Lines rocketed higher Thursday after the carrier reported better-than-expected profits and reinstated its full-year forecast based on a reassuring travel outlook. For the quarter ending June 30, Delta reported profits of $2.1 billion, up 63 percent from the year-ago period.
The federal government has just set a new record, securing a $747 million loan, the largest-ever loan to be taken for a road infrastructure project in Nigeria.
The world's top industrial supplier of chocolate, Barry Callebaut, revised its financial guidance lower on Thursday as the global chocolate market suffered its worst drop in sales volume in a decade, with high prices weighing on consumers.
The latest version of Grok, known as the SuperGrok Heavy, is said to be the equivalent of a team of super-intelligent AI agents, collaborating to solve users' query.
Economy
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