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Trump says Fed's Powell will be out in 8 months
WASHINGTON (Reuters) -- US Federal Reserve Chair Jerome Powell is a "numbskull" who has kept interest rates too high, but he will be out in eight months, President Donald Trump said at a news conference on Tuesday. "I think he’s done a bad job, but he’s going to be out pretty soon anyway. In eight months, he’ll be out," he said from a meeting at the White House with Philippine President Ferdinand Marcos Jr. Powell’s term as Fed chair runs through May 15, and he has repeatedly said he will not le
July 23, 2025 -
Coca-Cola plans cane-sugar Coke as higher prices boost profits
Coca-Cola's quarterly estimates beat expectations, the company said Tuesday, boosted by higher prices even as volumes dropped in key markets, while the company said it would introduce a Coke product made with cane sugar in the United States. Higher prices offset slippage in volumes, which fell 1 percent after rising 2 percent each in the previous two quarters, largely due to declines in key markets such as Mexico and India, as well as in its Coca-Cola brand in the US Excluding items, the company
July 23, 2025 -
Trump says Philippines will pay 19% 'reciprocal' tariffs
US President Donald Trump said Tuesday that the Philippines will pay 19 percent tariffs, a percentage point lower than what was previously announced, noting that the Southeast Asian nation will open its market to the United States. In a social media post, Trump said that his administration reached a trade deal with the Philippines, after he held a meeting with Philippine President Ferdinand Marcos Jr. at the White House. "We concluded our Trade Deal, whereby The Philippines is going OPEN MARKET
July 23, 2025 -
Trump announces trade deal with Japan that lowers threatened tariff to 15%
President Donald Trump announced a trade framework with Japan on Tuesday, placing a 15% tax on goods imported from that nation. “This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,” Trump posted on Truth Social, adding that the United States “will continue to always have a great relationship with the Country of Japan.” The president said Japan would invest “at my direction” $550 billion into the US and would “open” its economy to American autos and rice.
July 23, 2025 -
'US not rushing trade deals ahead of August deadline'
WASHINGTON (Reuters) -- The Trump administration is more concerned with the quality of trade agreements than their timing, US Treasury Secretary Scott Bessent said on Monday ahead of an Aug. 1 deadline for countries to secure trade deals or face steep tariffs. "We’re not going to rush for the sake of doing deals," Bessent told CNBC. Asked whether the deadline could be extended for countries engaged in productive talks with Washington, Bessent said US President Donald Trump would decide. "We’ll s
July 22, 2025 -
Typhoon Wipha topples trees and causes major flight disruptions in Hong Kong and southern China
Typhoon Wipha toppled trees and caused major flight disruptions Sunday in Hong Kong and at some nearby airports in China as it moved west off the southern coast of the country . Airports in Hong Kong, Shenzhen, Zhuhai and the casino hub of Macao canceled or postponed flights for most of the day, according to their websites. Hong Kong grounded at least 400 flights, affecting around 80,000 passengers, broadcaster RTHK said. Some high-speed train services were also suspended. The typhoon stayed jus
July 20, 2025 -
Pope Leo XIV renews his call for an immediate ceasefire in Gaza
Pope Leo XIV renewed his call on Sunday for an immediate ceasefire in Gaza , asking the international community to respect international laws and the obligation to protect civilians. “I once again call for an immediate end to the barbarity of this war and for a peaceful resolution to the conflict,” the pontiff said at the end of his Sunday Angelus prayer from his summer retreat in Castel Gandolfo. Pope Leo also expressed his “deep sorrow” for the Israeli attack on the only Catholic church in the
July 20, 2025 -
Tech CEO quits after concert incident
The IT company CEO captured in a widely circulated video showing him embracing an employee at a Coldplay concert has resigned. Andy Byron resigned from his job as CEO of Cincinnati-based Astronomer, according to a statement posted on LinkedIn by the company Saturday. “Astronomer is committed to the values and culture that have guided us since our founding. Our leaders are expected to set the standard in both conduct and accountability, and recently, that standard was not met,” the company said i
July 20, 2025 -
Trump signs crypto law, creating stablecoin regulatory framework
WASHINGTON (Reuters) — US President Donald Trump on Friday signed a law to create a regulatory regime for dollar-pegged cryptocurrencies known as stablecoins, a milestone that could pave the way for the digital assets to become an everyday way to make payments and move money. The bill, dubbed the GENIUS Act, passed in the House of Representatives by a vote of 308 to 122, with support from nearly half the Democratic members and most Republicans. It had earlier been approved by the Senate. The law
July 20, 2025 -
Japan, US can reach good trade deal, Bessent tells Ishiba
Japanese Prime Minister Shigeru Ishiba said that US Treasury Secretary Scott Bessent told him that the two nations will be able to reach a good trade deal. Ishiba urged Bessent to continue talks vigorously with Japan’s chief negotiator Ryosei Akazawa to achieve a mutually beneficial agreement. The two sides didn’t discuss specifics on trade as a Aug. 1 deadline for higher levies approaches, Ishiba told reporters after meeting Bessent in Tokyo on Friday. “There are many areas in which Japan and t
July 18, 2025 -
Trump says Coca-Cola to switch to cane sugar in US
WASHINGTON (Reuters) — President Donald Trump said Wednesday that Coca-Cola had agreed to use cane sugar in its beverages in the US after his discussions with the company. "I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so. I'd like to thank all of those in authority at Coca-Cola," Trump said in a post on Truth Social. A spokesperson for Coca-Cola said the Atlanta-based company will share details on new offerings soon, and t
July 17, 2025 -
Trump says he's 'highly unlikely' to fire Fed's Powell
WASHINGTON (AP) — President Donald Trump said Wednesday that he was “highly unlikely” to fire Federal Reserve Chair Jerome Powell, a public statement made less than 24 hours after suggesting in a private meeting that he was leaning in favor of dismissing the head of the nation’s central bank. Trump confirmed that in a White House meeting Tuesday night with about a dozen House Republicans he had discussed the “concept” of dismissing Powell, long a target because of his refusal to lower interest r
July 17, 2025 -
Trump unveils investments to power AI boom
PITTSBURGH (AFP) — US President Donald Trump went to Pennsylvania on Tuesday to announce $92 billion in energy and infrastructure deals intended to meet big tech's soaring demand for electricity to fuel the AI boom. Trump made the announcement at the inaugural Pennsylvania Energy and Innovation Summit at Carnegie Mellon University, with much of the talk about beating China in the global AI race. "Today's commitments are ensuring that the future is going to be designed, built and made right here
July 16, 2025 -
Trump sets 19% tariff on Indonesia goods in latest deal
WASHINGTON (Reuters) — President Donald Trump on Tuesday said the US would impose a 19 percent tariff on goods from Indonesia under a new agreement with the Southeast Asian country and more deals were in the works as he continued to press for what he views as better terms with trading partners and ways to shrink a huge US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by the Trump administration ahead of an Aug. 1 deadline for tariffs on m
July 16, 2025 -
China's economy grows 5.2% on trade war truce
BEIJING (AFP) — China's economy expanded more than five percent in the second quarter, official data showed Tuesday, buoyed by strong exports but analysts warned that more was work was needed to address sluggish consumer demand. The figures offer a rare bit of good news for the country's leadership as it fights a multi-front battle to kickstart growth -- a challenge made all the more difficult by Donald Trump's tariff war. But the knock-on effects of the trade turmoil abroad and persistent slugg
July 15, 2025