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Empty store shelves, mass layoffs, and a surge in 'For Lease' signs spark fears that a full-blown recession is just weeks away
Empty shelves and job layoffs are warning signs that the U.S. economy could slide into a recession by summer 2025. With container ships from China running below normal capacity, retailers like Walmart and Target are seeing shortages. Over 275,000 U.S. jobs were cut in March, including massive layoffs in the federal government. As trade tensions with China continue, small businesses are closing, and spending is falling.
US stock market today: Wall Street slips as Dow drops 113 points, S&P 500 and Nasdaq dip 0.3%—Trump eyes 80% China tariff, UK trade deal offers hope — will trade talks calm the storm or fuel more turmoil?
US stock market today: Stocks fall Friday as traders grow cautious ahead of key U.S.-China trade talks. The Dow dipped 113 points, while the S&P 500 and Nasdaq both slipped 0.3%. Tensions remain high with President Trump suggesting an 80% tariff on China, down from the current 145%. Meanwhile, a new trade deal with the U.K. offers hope but uncertainty looms. Companies like Coinbase, Expedia, and Monster Beverage also moved on weak earnings. Investors are watching closely as the weekend's talks could shape markets going forward. Will the China talks ease pressure, or spark more volatility?
Gail to invest Rs 5000 Cr in renewable energy facilities in Karnataka
Gail and the Government of Karnataka have signed an MoU. This partnership aims to develop renewable energy sources. These sources include solar and wind energy. Gail plans to acquire land in Karnataka's solar parks. Minister KJ George believes this will boost Karnataka's green energy sector. It will also create jobs and improve infrastructure.
Oil prices little changed ahead of Sino-US trade meeting
Oil prices remained steady on Friday after a previous surge, buoyed by easing U.S.-China trade tensions and a new U.S.-Britain trade agreement. Brent crude is at $62.91 a barrel, while WTI is at $59.98. U.S. and China will meet to resolve trade disputes, while Britain lowered tariffs on U.S. imports.
Bitcoin surpasses $103,000 as U.S.-U.K. trade deal fuels market optimism
Bitcoin surged 5.3% to trade at $102,889 on the day, hitting intraday highs of $103,969. Though still below its January all-time high of $109,114, the cryptocurrency has rebounded strongly and is now up for the year.
EU approves 5 billion euro French scheme for wine exports to US
The European Commission has approved a 5 billion euro French scheme to facilitate wine and spirits exports to the U.S. until July 2025, aiming to help exporters ship inventory before potential new tariffs. This action coincides with the EU proposing countermeasures on U.S. imports in response to existing U.S. tariffs, potentially triggering retaliation in the alcohol sector.
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Gold price falls as U.S-U.K announce trade deal; here's how much it fell and what experts are saying
Gold prices fall as U.S. President Donald Trump signals a major trade deal with Britain, easing market fears and reducing gold’s appeal as a safe-haven asset. With spot gold dropping 0.7% to $3,342.22 and U.S. gold futures down 1.3% to $3,347.90, investors shift focus to improving trade ties and a stronger dollar. Meanwhile, China’s gold import policy change and rising India-Pakistan tensions could still impact demand. Talks between the U.S. and China in Switzerland this weekend add more uncertainty. Here's a detailed breakdown of all the key events moving the precious metals market today.
Visa’s Shailesh Paul set to take over as CEO of PayU-owned Wibmo
PayU-backed Wibmo, a provider of online payment security services, is set to appoint Shailesh Paul—an execuitve of Visa—as its new CEO. He replaces Suresh Rajagopalan, who left in March. Wibmo, acquired by PayU in 2019, is expanding its focus to include full-stack payment solutions and business payments for future growth.
EU sets out possible 95 bln euro response to U.S. tariffs
The European Commission proposed countermeasures on up to 95 billion euros of U.S. imports if negotiations fail to remove U.S. tariffs. These measures target U.S. goods like wine, aircraft, and chemicals. The EU prefers a negotiated solution but prepares retaliatory responses for July, potentially escalating trade tensions.
Gold Rate Today: Gold slips to Rs 96,980/10g as Fed flags economic uncertainty; silver jumps Rs 480 per kg
Gold prices in India saw a slight dip despite global gains fueled by the U.S. Federal Reserve's concerns about rising inflation and labor market uncertainties. Investors are exercising caution ahead of U.S.-China trade talks. Spot gold is experiencing gains, while domestic gold futures are trading lower, with all eyes on upcoming jobless claims data.
Dollar on front foot after Fed signals no rush to cut rates
The U.S. dollar remained stable against the euro on Thursday. This followed a rise the previous day. The Federal Reserve cautioned about economic risks. These risks included inflation and unemployment. Investors are watching for progress in U.S.-China trade talks. A meeting in Switzerland is planned. The Bank of England is expected to announce a rate cut.
Oil prices steady after dropping as economic uncertainty, supply concerns weigh
Oil prices saw stability on Thursday. This follows a previous drop due to worries about the U.S. and China trade discussions. These talks are scheduled for May 10 in Switzerland. Investors are concerned about the potential impact on global oil consumption. Rising U.S. gasoline inventories also contribute to demand concerns.
These U.S states, including Republican ones, ignore Donald Trump's tariffs, launch their own campaign to woo Canadian tourists
Canadian tourists are missing from many U.S. destinations in 2025, and top states like California, Florida, Illinois, New York, Massachusetts, and Palm Springs are taking major steps to bring them back. With rising travel costs, a strong U.S. dollar, and fewer cross-border trips, these places are launching emotional campaigns, travel discounts, and personal messages to reconnect with Canadian travelers. From banners in Palm Springs to deep hotel deals in California, this nationwide effort is about more than tourism.
Will you be able to fly from today if you don't have a REAL ID? Here's what U.S Homeland Security chief Kristi Noem said
REAL ID travel rule is now in effect, and if you’re planning to fly within the U.S., this update could impact your airport experience. Homeland Security Secretary Kristi Noem confirmed that while travelers without a REAL ID won’t be turned away, they should expect extra screening and possible delays. As of this week, TSA won’t accept non-compliant state IDs at checkpoints. With the final enforcement deadline set for May 7, 2025, it’s important to understand what’s changing and how to avoid hassles.
China agreed to U.S. tariff talks but is likely to play hardball
China agreed to trade talks with the U.S., aiming to portray itself as responsible amid global economic concerns. Despite maintaining a firm stance against coercion, Beijing softened its position due to the economic impact of trade tensions. Both nations seek tariff reduction, but the path to a deal remains uncertain, with initial talks focusing on de-escalation.
Cristiano Ronaldo is proud father as Ronaldo Jr earns first Portugal U15 call-up for international tournament
Cristiano Ronaldo’s 14-year-old son has earned his first Portugal U15 call-up. The Al-Nassr youth star will follow in his father’s footsteps and represent Portugal. He impressed national selectors with his performance. Want to know more about Ronaldo Jr’s career highlights? Read on.
Why Trump’s “Imaginary” Canada-US border remark oversimplifies centuries of treaty, conflict, and compromise
US President Donald Trump’s claim that the Canada-US border is an “imaginary line” oversimplifies centuries of treaties, colonial negotiations, and Indigenous displacement. Experts explain how the 8,891-kilometre boundary was shaped by history, not rulers—making any modern redrawing nearly impossible. Discover the true story behind North America’s longest international border
European shares slip as investors assess earnings; Fed meet in focus
European shares experienced a dip on Wednesday as investors analyzed corporate earnings, U.S.-China trade talk developments, and awaited the Federal Reserve's rate decision. The STOXX 600 index declined by 0.4%, with healthcare shares leading the losses. Novo Nordisk saw a rise, while Ambu and Skanska faced declines after disappointing reports.
Dollar languishes ahead of Fed meeting, Asian currencies calmer
News that the United States and China are due to talk on Saturday eased concerns about a trade war that has shaken investor confidence in the dollar and U.S. markets. Fed Chair Jerome Powell was expected to say more data is needed before deciding the U.S. central bank's next move.
Carney Trump Meeting: the timing behind today’s crucial White House summit explained
Carney Trump White House Time: Canadian Prime Minister Mark Carney is scheduled to meet with U.S. President Donald Trump at the White House today, commencing with a working lunch at 12:30 PM ET. The meeting occurs amidst tariff escalations and discussions about Canadian sovereignty. The carefully timed schedule allows for maximum media coverage, as both leaders address critical issues in the U.S.-Canada relationship.
'Asian crisis in reverse' as currencies soar on the dollar
A wave of dollar selling in Asia is an ominous sign for the greenback as the world's export powerhouse starts to question a decades-long trend of investing its big trade surpluses in U.S. assets.
As Mark Carney visits the White House, Donald Trump says he doesn't know what the Canadian Prime Minister wants to discuss
Donald Trump says he doesn’t know what Canadian PM Mark Carney wants to discuss, just a day before their White House meeting, leaving many wondering about the purpose of the high-level talks. With a major U.S.-Canada trade war in full swing, and billions in tariffs impacting industries, Trump’s casual remark—“I guess he wants to make a deal”—adds to the tension. This marks their first in-person meeting since Carney’s election win, where critical issues like CUSMA, auto tariffs, and even Canadian sovereignty may be on the table. Here's what’s at stake and why this visit really matters for both nations.
Ray Dalio, who warned of 2008 market crash, fears ‘something worse’ than recession amid Trump tariffs
Ray Dalio, who predicted the 2008 financial crisis, warns the U.S. faces economic peril worse than a recession. He attributes this to rising debt, political instability, and Trump's tariffs, which disrupt the global order. Dalio urges fiscal discipline to avert a potential collapse of the dollar and increased global tensions, drawing parallels to the instability of the 1930s.
Cyient shares in focus as U.S. unit hit with $26,780 IRS penalty
Cyient Limited faces scrutiny as its American branch, Cyient Incorporated, receives a penalty. The Internal Revenue Service issued the order. It relates to alleged non-compliance with the Affordable Care Act. Cyient is challenging the decision. The company reported a profit jump in Q4. However, revenue saw a slight dip. Technical indicators for Cyient stock present a mixed outlook.
China's services growth hits 7-month low as tariffs bite, Caixin PMI shows
China's services sector experienced its slowest expansion in seven months in April, as the Caixin PMI fell to 50.7, impacted by U.S. tariffs and subdued business sentiment. New business growth weakened, leading to job cuts and price reductions by service providers. Policymakers are urged to take action to mitigate the effects of the ongoing trade standoff.
Gold hits one-week high on safe-haven demand, Fed decision loom
Gold prices experienced a surge, reaching a one-week high due to escalating concerns surrounding President Trump's proposed tariffs, which heightened safe-haven demand. Investors are closely monitoring the upcoming Federal Reserve policy meeting for insights into the U.S. central bank's future rate decisions, amidst uncertainty caused by the tariff plans. Other metals like silver and platinum saw slight movements.
Sorry, not sorry, America: why Canadians are rethinking everything U.S.
As Canadians boycott U.S. products and travel in protest of Trump-era policies, a deeper cultural shift is unfolding. This anti-American sentiment is sparking a national identity reset, with Canadians embracing local brands, media, and values. Is this the beginning of Canada’s break from American dominance?
Canada faces a summer of shortages even after Mark Carney's victory, here's the reason behind it
Canada faces a summer of shortages even after Mark Carney's victory, and the story behind it is more serious than it first seems. With U.S. President Donald Trump imposing steep tariffs on Canadian goods, Canada’s economy is feeling the heat—from rising inflation to empty grocery shelves. Despite Carney’s election win and strong stance on trade, Canadians could see job losses, higher prices, and slower growth.
Gold gains on softer dollar, Fed decision awaited
Gold prices saw a slight increase, buoyed by a weaker dollar as investors await clarity on US trade policies and the upcoming Federal Reserve decision. Spot gold rose to $3,245.01 an ounce, while U.S. gold futures reached $3,252.00. Market focus remains on the Fed's policy decisions and speeches by officials this week for insights into future monetary policy.
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