Senators are wading into the thorny issue of whether to “lock the clock” — that is, end the practice of changing the time twice a year to account for the shifting seasons. At a hearing Thursday, Senate Commerce Chair Ted Cruz said there was general consensus among his colleagues that Americans should stop changing the […]
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Despite a partial U-turn, Senate Democrats are vowing to move forward and put their GOP colleagues on the record on President Donald Trump’s latest tariffs. Sen. Ron Wyden (D-Ore.), a lead author of a resolution that would overturn the basis for Trump’s global levies announced last week, said in an interview Thursday that Democrats still […]
In a defining moment for the luxury fashion world, Prada announced on Thursday that it will acquire Versace for 1.25 billion euros ($1.38 billion) from New York-based Capri Holdings. This is the biggest luxury deal of the year, bringing a dramatic conclusion to Capri’s ambitious yet troubled quest to build an American fashion powerhouse to […]
Wall Street may have finally broken through Donald Trump’s hard stance on tariffs. After a week of escalating fears about a potential economic crisis, two of the biggest names in finance — Jamie Dimon and Bill Ackman — appear to have played pivotal roles in persuading Trump to hit pause on his aggressive trade measures. […]
Electricity demand to power AI technology and data centres by the end of this decade will require more than Japan’s electricity consumption today. The consumption of electricity by data centres is projected to increase by over two times, reaching approximately 945 Terawatt-hour by the year 2030, according to a report released by the International Energy […]
European markets posted sharp gains on Thursday following a surprise move by US President Donald Trump to postpone a new round of tariffs on dozens of countries, including the European Union. The announcement, made late on Wednesday, triggered a major rally across global equities, as investors responded to signs of easing trade tensions between two […]
Rolls-Royce share price pared back some of the losses made earlier this month as Donald Trump’s trade war eased. After bottoming at 560p on April 7, it has soared to a high of 790p on Thuesday, a few points below the all-time high of 815p. So, will the stock keep rising and possibly hit 1,000p […]
European markets posted sharp gains on Thursday after US President Donald Trump unexpectedly postponed a new round of tariffs on dozens of countries, including the European Union. The decision sent relief rippling through financial markets, with the FTSE 100 surging by more than 4% to mark its biggest daily gain in months. However, the buoyant […]
Barry Callebaut, a Swiss chocolate maker, lowered its annual sales volume forecast on Thursday due to “unprecedented volatility” in cocoa bean prices. This development led to a significant drop in the company’s shares, which were down almost 20%, on track for their largest-ever one-day decline, Reuters reported on Thursday. The world’s largest chocolatier, a major […]
Apple has airlifted around 600 tonnes, or about 1.5 million iPhones, from India to the United States, chartering cargo flights in a race to beat newly imposed tariffs under President Donald Trump’s latest trade measures, Reuters reported, citing people familiar with the matter. The extraordinary logistical effort highlights the lengths to which the tech giant […]