Over and over in the history of the international monetary system, national policymakers have pointed to – and voiced concerns about – the effects of policy actions undertaken in foreign countries on the outlook and financial conditions in their own domestic economies. The most recent example involves the spillovers of tighter monetary policies to address […]
The often overlooked yet rapidly expanding petrochemical feedstock trade between the United States and China could become one of the biggest casualties in the two giants’ escalating economic clash. President Donald Trump on April 2 imposed sweeping tariffs on its major trading partners. This included a 34% tax on Chinese imports, marking a new low […]
Energy firms have slowed construction of offshore wind farms in the U.S. for various reasons in recent years, including, most recently, opposition from U.S. President Donald Trump’s administration. Offshore wind was a key pillar of former President Joe Biden’s promise that fighting climate change will create jobs and invigorate the economy. In 2023 and 2024, however, several offshore wind companies took […]
LG Energy Solution (LGES), an electric vehicle (EV) battery supplier for General Motors and Tesla, estimated on Monday a 138% rise in its quarterly operating profit. However, excluding tax credits under the U.S. Inflation Reduction Act, LG Energy Solution said it saw an operating loss of 83 billion won ($56.52 million) in the first quarter, as […]
Toyota aims to have about 15 electric vehicle models developed on its own by 2027 and is targeting production of about 1 million cars a year by then, the Nikkei newspaper said on Sunday. Toyota declined to comment, saying the information was not announced by the company. Toyota has five EV models developed in-house, manufacturing them […]
U.S. oilfield service firms are bracing for a hit as President Donald Trump’s tariffs throw supply chains into disarray and tumbling oil prices set the stage for a drop in drilling activity, analysts and financial firms said on Friday. Financial services firm Morningstar lowered its fair value estimates for the big three oilfield service firms, SLB, Halliburton, […]
Goldman Sachs revised down its annual average price forecasts again for Brent and WTI crude in 2026, citing increased recession risks and the possibility of higher-than-expected OPEC+ supply. In a note dated April 6, the bank cut its 2026 average price forecast by $4 for Brent to $58 a barrel and WTI to $55. The […]
The European Commission is challenging Italy for its use of “golden powers” legislation to screen bank acquisitions, a spokesperson said on Friday, a move that could restrict Rome’s ability to vet strategic corporate takeovers. So-called golden powers allow Italy’s government to block or set conditions on foreign and domestic corporate takeovers in strategic sectors such […]
Spain’s Santander Executive Chair Ana Botin warned about the uncertainty caused by U.S. trade tariffs on Friday as markets fret about a rapid economic downturn, but said the bank’s geographical spread will help protect it. Bank shares have tumbled in the past two days, with the European banking index down around 14% after dropping sharply again on Friday. Banks with large […]
Shares in German lenders continued their losses for a third day as U.S. President Donald Trump’s sweeping tariffs ignited fears of an all-out trade war and a global economic recession. Germany’s Commerzbank and Deutsche Bank were down between 9.5%-10.3% in early Frankfurt trade, after they closed 5.4% and 9.8% lower on Friday. Banking stocks elsewhere also tanked, with an […]
