BRICS blast ‘resurgence of protectionism’ in Trump era

Oil prices dropped about 2% to a two-week low on Tuesday as investors braced for OPEC+ to boost output and worried U.S. President Donald Trump`s tariffs would hit the global economy and slow demand for the fuel.

Package delivery giant UPS`s plan to cut 20,000 jobs worldwide in 2025 is a significant move for the company, primarily driven by the reduction in business from Amazon, its largest customer. 

Chinese manufacturing activity shrank this month after growing at its highest rate in a year the previous month, official data showed Wednesday, as Beijing fights an intensifying trade war with the United States.

British oil and gas giant BP said on Tuesday net profit plunged in the first quarter of this year due to weaker gas sales and lower refining margins.

US President Donald Trump has agreed to soften the impact of tariffs on automakers who have been hit by multiple levies, US media reported yesterday (April 28).

Gold price declined on Tuesday as softening trade tensions between the United States and its trading partners dulled the metal`s safe-haven appeal, while investors awaited U.S. economic data to assess the Federal Reserve`s policy path.

Senior diplomats from the BRICS member nations gathered Monday in Brazil to present a united front in the face of US President Donald Trump`s aggressive trade policies.

Markets edged up Tuesday after a largely positive day on Wall Street with investors eyeing a busy week of data and earnings releases that could provide clues about the effects of the US President Donald Trump`s trade policies.

In a potential U-turn to significantly scale down reciprocal 145% tariffs on most Chinese goods, US President Donald Trump`s shift in tone has broken the ice and soothed markets. It comes in the backdrop of a vast array of reasons including the intervention of top executives of US stores and companies following shortage of products, substantial pressure from US states, allies and international institutions and above all, a unified political system and resilient social norms in China.

US President Donald Trump’s trade war with China is starting to affect the wider US economy as container port operators and air freight managers report sharp declines in goods transported from the world`s second biggest economy.

US state California has surpassed Japan to become the world’s fourth-largest economy, Governor Gavin Newsom said, as he warned of the threat posed by President Donald Trump’s tariffs to the tech powerhouse’s fast-growing wealth.

A letter written by a Titanic passenger days before the ship capsized has sold for a record-breaking £300,000 ($400,000) at auction in the United Kingdom.

The European Union on Wednesday slapped US tech giants Apple and Meta with €700 million in fines for breaking digital competition rules, risking the wrath of US President Donald Trump.

US President Donald Trump on Wednesday played up prospects of a ‘fair deal’ on trade with it`s rival economy China, but his top officials offered few details of how Washington might de-escalate its damaging tariff war with Beijing.

Gold prices dropped on Wednesday after U.S. President Donald Trump hinted at lower tariffs for China and said he has no plans to fire Federal Reserve Chair Jerome Powell.

Oil prices soared more than 1% on Wednesday, extending the prior day`s gains, as investors weighed a fresh round of U.S. sanctions on Iran, a drop in U.S. crude stocks and a softer tone from US President Donald Trump towards the Federal Reserve.