Nippon Steel acquires US Steel for $14.9bn after months of struggle
The deal also allows US President Donald Trump to appoint a board member.
Category Archives: Economy
Trump Organization announces smartphone targeting conservative consumers
Phone and service plan are the latest offerings from Trump-related brands since US President Donald Trump took office.
Purdue Pharma $7.4bn opioid settlement wins broad support from US states
The suit, brought by 55 attorneys general, will help compensate victims and fund addiction treatment programmes.
Fashion brands accused of shortcuts on climate pledges overlooking workers
A new report accuses fashion giants of not considering the welfare of workers affected by climate change.
World Bank slashes global economic outlook as trade tensions continue
The bank warned that without a swift course correction, the harm to living standards could be 'deep'.
US DoT says Biden fuel economy rules exceeded legal authority
The mandate that the DoT challenged was a key part of former President Joe Biden’s plan to address climate change.
Procter & Gamble to cut 7,000 jobs over the next two years
The cuts will represent 6 percent of its total workforce.
US factory orders slump in April as spending on tariff anticipation fades
Orders tumble by 3.7 percent after a rise in March when businesses increased purchases in anticipation of tariffs.
Volvo to cut 3,000 jobs amid trade uncertainty
The layoffs come days after US President Donald Trump threatened 50 percent tariffs on EU goods.
ECB’s Lagarde says euro could be viable alternative to US dollar
ECB chief says US economic policy shifts have created inroads for the euro to the standard currency for global trade.
Boeing reaches deal with US DOJ to avoid prosecution over 737 Max crashes
The DOJ is expected to have a written agreement with Boeing in place by the end of next week.
US investment Firm RedBird to buy UK’s Daily Telegraph newspaper
Abu Dhabi’s IMI will take a minority stake in the company of no more than 15 percent.
JPMorgan’s Dimon warns of US stagflation risk: Report
Economists echo Jamie Dimon’s concerns as US credit downgrade and tariff-driven uncertainty continue.
UnitedHealth paid nursing homes to reduce hospital transfers: Report
In one case, a person suffered permanent brain damage because of a delayed transfer, according to The Guardian.
Target cuts annual forecast as tariffs, boycotts weigh on sales
Unlike Walmart, Target is more heavily reliant on China for goods, and tariffs on its goods are driving earnings down.
Musk commits to staying Tesla CEO for another five years
Elon Musk has claimed a turnaround in Tesla's sales after a slump, even as his internet service provider Starlink grows.
Regeneron buys 23andMe for $256m after bankruptcy
Sale of genetic testing company raises concerns about privacy of 23andMe’s 15 million customers.
A US airline faces backlash as it begins deportation flights
The financially struggling budget airline Avelo took a contract with the Trump administration that began this week.
US DOJ investigates UnitedHealth for alleged Medicare fraud: Report
The investigation comes amidst months of turmoil for the company, sending its stock plunging.
Trump’s Gulf tour based on “economics rather than politics”
Trump's focus on his tour of the Middle East is on economics.