Latest Business News
Trump Slashes US Tariffs on India to 18% in Russian Oil Deal
President Trump announced the US will reduce tariffs on Indian goods to 18% after Prime Minister Modi agrees to stop buying Russian oil, boosting Indian stocks and the rupee. This trade deal eases tensions for Indian exporters previously hit by high US tariffs.
Markets react positively with Asian shares rallying.
Elon Musk's SpaceX Merges with xAI at $1.25 Trillion Valuation
SpaceX has combined with xAI in an all-stock deal ahead of a planned IPO, valuing the new entity at $1.25 trillion and uniting two major private companies. Musk stated the merger forms a vertically integrated AI and space powerhouse, with IPO expected later this year.
The deal fuels AI optimism in markets.
Palantir Stock Rockets Nearly 8% on Strong Earnings
Palantir hailed 'incredible' earnings, calling itself 'an n of 1,' sparking an after-hours surge of nearly 8% in its stock. The results contribute to tech momentum amid rebounding equities.
Investors focus on its performance post-US manufacturing boost.
US Manufacturing Data Hits Strongest Level Since 2022
US ISM manufacturing data showed expansion at the fastest pace since 2022, lifting S&P 500 futures and equities. This positive data supports market rebound and knocks on yields rising.
It counters recent volatility in global markets.
Asian Stocks Rebound from Worst Selloff in Two Months
Asian markets, including Indian shares, bounced back led by tech like Samsung, on AI optimism and tariff relief. Gold and silver also rebounded, calming volatility after Monday's selloff.
US handover boosts S&P futures.
RBA Hikes Rates by 25 Basis Points to 3.85%
Australia's Reserve Bank executed a rate hike of 25 bps to 3.85%, breaking from global trends. This U-turn aims to address inflation concerns amid FX volatility.
Markets watch for impacts on regional growth.
US-Iran Officials Plan Nuclear Deal Talks This Week
US and Iranian officials are set to discuss a new nuclear deal, but Trump warns 'bad things would happen' without agreement. Crude oil prices slide on the news.
Talks add to geopolitical market tensions.
Oracle Shares Fall After OpenAI Confidence Tweet
Oracle expressed high confidence in OpenAI's fundraising despite a $50B raise plan, triggering a stock selloff. The tweet undercut initial share gains from the announcement.
Investors react to shifting AI commitments.
Nvidia's $100B OpenAI Pledge Was 'Never a Commitment'
Nvidia CEO Jensen Huang clarified a $100B investment pledge in OpenAI from a September letter of intent was not binding. This follows Oracle's OpenAI comments amid AI sector flux.
It highlights uncertainties in big tech AI deals.
Trump Misses FY 2027 Budget Deadline, CFRB Warns
President Trump missed the FY 2027 budget deadline, with CFRB stating debt fixes require touching Social Security, Medicare, defense, or revenue. Math doesn't work without heroic growth or rate crashes.
Fiscal concerns weigh on markets.
Gold and Silver Rebound After Rally Unwinding
Precious metals like gold clawed back losses after a dramatic selloff, aiding market calm. Rebound supports broader equity recovery in Asia.
Investors eye volatility amid trade news.
South Africa Triples Private Investment Plans
South Africa announces plans to triple private investment, boosting economic prospects. Saudi Arabia unleashes reforms to attract more FDI.
These moves signal emerging market optimism.