The United States is collecting more tariff revenue than at any time in its modern history. In July alone, it pulled in nearly $30 billion from customs duties. That follows $26.6 billion in June and $22.2 billion in May. These are record-breaking figures. At the current pace, annual tariff revenue…
NewMed, a partner in Israel’s Leviathan natural gas field, announced Thursday that the field has secured the largest export agreement in the nation’s history, a deal valued at up to $35 billion to supply gas to Egypt.The Leviathan natural gas field, located off Israel’s Mediterranean coast and holding an estimated…
On Thursday, US President Donald Trump implemented increased tariff rates, ranging from 10% to 50%, affecting numerous trading partners. This move is a trial of his approach to reduce US trade deficits, aiming to do so without significantly disrupting global supply chains, increasing inflation, or provoking strong retaliatory actions from other…
A coalition of 57 alcohol industry groups has warned President Donald Trump in a letter that a 15% tariff on EU goods could slash US alcohol sales by nearly $2 billion and jeopardise 25,000 American jobs.The letter garnered signatures from key players in the European beverage industry, including major producers…
Walt Disney Co (NYSE: DIS) is inching down this morning after reporting mixed financial results for its third quarter.Investors are choosing caution even though the entertainment conglomerate announced a landmark deal between ESPN and the WWE on Wednesday.According to Disney’s press release today, ESPN will become the exclusive US home…
India’s economy could face a multibillion-dollar impact following US President Donald Trump’s decision to raise tariffs on Indian goods to 50% in response to New Delhi’s continued oil trade with Russia. The latest move doubles the previously announced 25% duties, making it one of the highest levies on any US…
Match Group (NASDAQ: MTCH) shares jumped more than 14% on Wednesday after the online dating company delivered upbeat guidance for the current quarter and highlighted promising results from its recent product innovations.The Dallas-based firm, which owns Tinder, Hinge, and several other dating platforms, said it expects third-quarter revenue to come…
Upstart Holdings Inc. (NASDAQ: UPST) tanked more than 18% on August 6th, even though the AI lending platform reported blockbuster results for its second financial quarter (Q2).According to the company’s earnings release, its revenue more than doubled on a year-over-year basis to $257 million, fuelling a swing to $5.6 million…
Asia-Pacific stock markets presented a mixed and somewhat volatile picture at Thursday’s open, as investors worked to decipher US President Donald Trump’s vow to impose a staggering 100% tariff on imported semiconductors and chips. While this new threat sent shockwaves through the tech sector, a crucial exemption for companies “building…
The oil market remains doubtful about the impact of the additional 25% tariffs imposed by the US on India over its purchases of Russian oil. According to ING Group, the market still expects further negotiations between the US and India before the additional tariffs kick in later this month. On Wednesday, oil…