Latest news with #TradeTalks
Yahoo
5 days ago
- Business
- Yahoo
Canada and the United Kingdom think and work alike, Starmer says during Ottawa visit
OTTAWA — British Prime Minister Keir Starmer says the historic ties and long-standing working relationship between the United Kingdom and Canada are not just reflections of the past, but are very much needed "in the here and now." Starmer says the two Commonwealth members think and work alike, having collaborated for years on issues of security, defence, trade and the economy. Starmer met with Prime Minister Mark Carney in Ottawa today before the two leaders leave for the G7 leaders' summit in Alberta. Carney, a former Bank of England governor, said he was an admirer of Starmer and had learned a lot from him over the years. Starmer had dinner with Carney on Saturday at his official residence at Rideau Cottage, later taking in the hockey game between the Edmonton Oilers and the Florida Panthers. Starmer's visit comes as Canada seeks to reopen trade talks with the U.K. which were paused early in 2024, leaving in place a temporary deal signed after Brexit. — With files from Jim Bronskill This report by The Canadian Press was first published June 15, 2025. Dylan Robertson, The Canadian Press Sign in to access your portfolio
Bloomberg
13-06-2025
- Business
- Bloomberg
What's the Labubu doll got to do with China's economy?
What do Pop Mart's ever popular Labubu dolls have to do with China's economy and the need for US-China trade talks? (Source: Bloomberg)
Yahoo
12-06-2025
- Business
- Yahoo
European shares tumble as trade, geopolitical tensions mount
(Reuters) -European shares dropped on Thursday, in their fourth straight session of declines, as trade optimism stemming from U.S.-China trade talks faded, while mounting geopolitical tensions led to the markets being more cautious. The pan-European STOXX 600 was down 0.4% at 549.41 points at 0707 GMT, while most regional bourses were also in the red. U.S. President Donald Trump said on Wednesday that he was willing to extend the deadline for trade talks but it was not likely necessary as the U.S. will send offer letters to countries in a week or so. However, markets were a little concerned about the European Union being able to clinch a deal before Trump's July 8 deadline - when the tariff pause expires. Geopolitical worries added more caution to markets already navigating U.S. tariff-driven uncertainty after trade talks with China did not offer a solution to de-escalate longstanding tensions. U.S. personnel were being moved out of the Middle East because "it could be a dangerous place" amid rising tensions with Iran, Trump said on Wednesday. In the market, travel and leisure stocks were the worst hit, down 1.7%, while industrial miners fell 1.1%. Among stocks, BE Semiconductor Industries (BESI) jumped 7.7% after raising its long-term financial targets ahead of its investor day. Tesco gained 1.3% after Britain's biggest food retailer's domestic sales growth accelerated in its first quarter.
Reuters
12-06-2025
- Business
- Reuters
European shares tumble as trade, geopolitical tensions mount
June 12 (Reuters) - European shares dropped on Thursday, in their fourth straight session of declines, as trade optimism stemming from U.S.-China trade talks faded, while mounting geopolitical tensions led to the markets being more cautious. The pan-European STOXX 600 (.STOXX), opens new tab was down 0.4% at 549.41 points at 0707 GMT, while most regional bourses were also in the red. U.S. President Donald Trump said on Wednesday that he was willing to extend the deadline for trade talks but it was not likely necessary as the U.S. will send offer letters to countries in a week or so. However, markets were a little concerned about the European Union being able to clinch a deal before Trump's July 8 deadline - when the tariff pause expires. Geopolitical worries added more caution to markets already navigating U.S. tariff-driven uncertainty after trade talks with China did not offer a solution to de-escalate longstanding tensions. U.S. personnel were being moved out of the Middle East because "it could be a dangerous place" amid rising tensions with Iran, Trump said on Wednesday. In the market, travel and leisure stocks (.SXTP), opens new tab were the worst hit, down 1.7%, while industrial miners (.SXPP), opens new tab fell 1.1%. Among stocks, BE Semiconductor Industries (BESI) ( opens new tab jumped 7.7% after raising its long-term financial targets ahead of its investor day. Tesco (TSCO.L), opens new tab gained 1.3% after Britain's biggest food retailer's domestic sales growth accelerated in its first quarter.
The Independent
12-06-2025
- Business
- The Independent
Asian shares are mixed as markets shrug at latest China-US trade deal
Asian shares were trading mixed early Thursday after Wall Street's rally stalled as investors appeared not to react much to the results of the latest round of China-U.S. trade talks. U.S. futures slipped while oil prices rose. Japan's Nikkei 225 lost 0.7% to 38,160.80. Hong Kong's Hang Seng sank 0.7% to 24,206.69, while the Shanghai Composite index edged 0.1% lower to 3,400.30. In South Korea, the Kospi gained 0.4% to 2,919.67, while Australia's S&P/ASX 200 edged 0.1% higher to 8,604.70. On Wednesday, the S&P 500 fell 0.3% to 6,022.24 for its first loss in four days. The Dow Jones Industrial Average was virtually unchanged at 42,865.77 after edging down by 1 point. The Nasdaq composite slipped 0.5% to 3,400.30. All told, the S&P 500 fell 16.57 points to 6,022.24. The Dow Jones Industrial Average slipped 1.10 to 42,865.77, and the Nasdaq composite sank 99.11 to 19,615.88. Several Big Tech stocks led the way lower, and a 1.9% drop for Apple was the heaviest weight on the market. It's been listless this week after unveiling several modest upcoming changes to the software that runs its devices. The action was stronger in the bond market, where Treasury yields eased after a report suggested President Donald Trump's tariffs are not pushing inflation much higher, at least not yet. U.S. consumers had to pay prices for food, gasoline and other costs of living that were 2.4% higher overall in May than a year earlier. That was up from April's 2.3% inflation rate, but it wasn't as bad as the 2.5% that Wall Street was expecting. A fear has been that Trump's wide-ranging tariffs could ignite an acceleration in inflation, just when it had seemed to get nearly all the way back to the Federal Reserve's 2% target from more than 9% three summers ago. It hasn't happened, though economists warn it may take months more to feel the full effect of Trump's tariffs. Trump said Wednesday that China will supply rare-earth minerals and magnets to the United States, while his government will allow Chinese students into U.S. universities in a deal that still needs an agreement by him and by China's leader. Trump also said that 'President XI and I are going to work closely together to open up China to American Trade. This would be a great WIN for both countries!!!' Investors are still hoping for a more sweeping trade deal that would ease tensions between the world's two largest economies. Hopes for such deals between the United States and countries around the world have been one of the main reasons the S&P 500 has charged nearly all the way back to its all-time high after dropping roughly 20% below a couple months ago. Without them, the fear is that Trump's high tariffs could drive the economy into a recession while pushing inflation higher. The S&P 500 is now sitting 2% below its record. Tesla swung between gains and losses before finishing with a rise of 0.1% to continue its shaky run. It's been recovering much of its big losses taken last week after Elon Musk's relationship with Trump imploded, which in turn raised fears about a loss of business for the electric-vehicle company. Musk on Wednesday backed away from some of his earlier comments and said they went 'too far.' In the bond market, the yield on the 10-year Treasury eased to 4.41% from 4.47% late Tuesday. Shorter-term yields, which more closely track expectations for what the Fed will do with overnight interest rates, fell more. Wednesday's better-than-expected reading on inflation raised expectations along Wall Street that the Fed could cut its main interest rate at least twice by the end of the year. In other dealings early Thursday, U.S. benchmark crude oil gained 13 cents to $68.28 per barrel. Brent crude, the international standard, picked up 10 cents to $69.87 per barrel. The U.S. dollar slipped to 144.05 Japanese yen from 144.60 yen. The euro rose to $1.1521 from $1.1487. ___ AP Business Writer Stan Choe contributed.
