A federal judge in New York ordered Argentina on Monday to sell its majority stake in oil firm YPF, the latest blow to Buenos Aires in a decade-long international legal saga. To partially satisfy the outstanding sum, Preska on Monday ordered Argentina to transfer its 51 percent stake of YPF to an intermediary, with instructions that the shares then be handed over to the plaintiffs.
Tokyo led stocks higher Thursday as optimism over Japan-US trade talks offset Federal Reserve boss Jerome Powell's warning that Donald Trump's tariffs could force officials to choose between fighting inflation or unemployment.
European Central Bank policymakers look increasingly likely to cut interest rates again on Thursday, with US President Donald Trump's stop-start tariff announcements sowing concern in the eurozone. The central bank has made six quarter-point cuts since June last year as inflation has fallen, bringing its benchmark deposit rate down to 2.5 percent from four percent.
Chip developer Advanced Micro Devices (AMD) on Wednesday said it expects new US licensing requirements for semiconductors exported to China to cost it as much as $800 million. AMD said in the filing that it "expects to apply for (export) licenses but there is no assurance that licenses will be granted."
Meta chief executive Mark Zuckerberg on Wednesday denied in court that his company bought rival services Instagram and WhatsApp to neutralize them, as his testimony in a landmark antitrust case came to a close.
Tariffs are likely to push up prices and could put the US Federal Reserve in the unenviable position of having to choose between tackling inflation and unemployment, the bank's chair said Wednesday. Most economists have warned that tariffs will push up prices -- at least temporarily -- while acting as a drag on growth.
US President Donald Trump touted tariff negotiations with Japan on Wednesday while China angrily accused Washington of "blackmail" in a trade war that the WTO warns will have "severe" economic consequences for the global economy. The multiple negotiations the Trump administration says are underway are running parallel to a full trade war against top US economic rival China.
TikTok on Wednesday said it is testing a feature that would let people add "Footnotes" providing informative context to videos that might be misleading. "Footnotes will draw on the collective knowledge of the TikTok community by allowing people to add relevant information to content on our platform," Presser said.
The uncertainty kicked up by Donald Trump's stop-start tariff rollout will undoubtedly hit growth, the president of the World Bank said Wednesday, ahead of next week's semi-annual meeting of global financial leaders in Washington.
One of the architects of US President Donald Trump's tariff blitz has advocated a shake-up of the global trade and financial systems, centred on a radical strategy to weaken the dollar. - 'Mar-a-Lago Accord' - For Miran, tariffs and moving away from a strong dollar could have "the broadest ramifications of any policies in decades, fundamentally reshaping the global trade and financial systems".
Economy
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