Just days after warning that the S&P 500 could fall another 20% due to a potential recession triggered by escalating tariffs, Goldman Sachs has reversed its stance. The bank’s strategists have now raised their six-month forecast for the benchmark index to 6,100 from 5,900, in response to easing trade tensions…
Donald Trump didn’t return to the Middle East for diplomacy. He came for deals. This week, the president landed in Saudi Arabia to begin a tour of the Gulf with one goal in mind: securing investment. But not just for the United States; perhaps for himself too.Trump’s second term has stripped…
The S&P 500 traded near the flatline early Tuesday as investors paused to digest a softer-than-expected inflation report and assessed the market’s sharp rally in the previous session. The Nasdaq Composite edged up 0.3%, while the Dow Jones Industrial Average underperformed, falling 186 points, or 0.4%, dragged down by an…
US President Donald Trump has secured a staggering $600 billion investment commitment from Saudi Arabia during the first leg of his Gulf tour, according to the White House. The announcement, made after a high-profile red carpet welcome in the Saudi capital, includes a record-breaking $142 billion defense deal and extensive…
The Trump administration is in active talks to authorize the United Arab Emirates to import over a million Nvidia Corp’s most advanced artificial intelligence chips, in what would mark a sharp departure from existing Biden-era export controls, Bloomberg said in a report on Tuesday.The prospective deal, which remains under negotiation,…
President Donald Trump launched a renewed salvo against the Federal Reserve on Tuesday, asserting the central bank is lagging in its response to what he characterized as a significantly cooling inflationary environment, particularly after April’s inflation figures came in softer than anticipated.In a direct and pointed message on his Truth…
Nvidia Corp. came within striking distance of overtaking Apple Inc. as the world’s second most valuable company on Tuesday, as its stock rallied on optimism around chip sales to Saudi Arabia and artificial intelligence infrastructure deals. The company’s shares jumped 5.6% to close at $129.93, lifting its market capitalisation to…
Burberry is set to cut as many as 1,700 jobs worldwide as part of a wider cost-cutting effort, as the British fashion house grapples with a challenging luxury retail environment. The company said Wednesday it aims to save an additional £60 million ($80 million) over the next two years, with…
Romania’s 2025 presidential election is not a normal election. This election is a rerun following the annulment of the December 2024 election due to Russian interference. And the story keeps getting more intense. Just a week ago, the far-right nationalist candidate won the first round, the prime minister resigned and Romania’s…
Shares in Burberry surged more than 15% on Wednesday after the company unveiled plans to cut about 1,700 jobs globally as part of a sweeping cost-reduction initiative, and clocked profits much higher than anticipated. The move is expected to generate £60 million in savings by the fiscal year beginning April…