Author: i2wtc
Tesla CEO Elon Musk wears a ‘Trump Was Right About Everything!’ hat while attending a cabinet meeting at the White House, in Washington, D.C., U.S., March 24, 2025. Carlos Barria | ReutersTesla shares slumped on Thursday, reversing course a day after the electric vehicle maker had its biggest gain on the market since 2013.The stock dropped 7.3% to close at $252.40 and is now down 38% for the year, by far the biggest decline among tech’s megacap companies. That’s true even after the shares soared 23% on Wednesday, their second-sharpest rally on record.President Donald Trump sent stocks up on Wednesday after…
A State Farm logo is seen in front of a State Farm insurance office on February 03, 2025 in Larkspur, California. Justin Sullivan | Getty Images News | Getty ImagesState Farm is making its case this week for a major rate hike for California homeowners in a hearing that could prove crucial to the insurer’s future.The state’s largest property insurer needs approval to raise its rates on customers, and it’s applied for an emergency rate increase. The company argues it needs the additional funds to boost capital and avert an increasingly dire financial situation following the devastating Los Angeles wildfires.State Farm…
Listen to article LAHORE: The United States’ recent decision to impose a 39% tariff on imports from Pakistan could lead to a significant drop in Pakistan’s export revenues, with estimates suggesting a potential decline of up to $0.8 billion in calendar year 2024 alone. As per a policy note released by the Lahore School of Economics (LSE) on Wednesday, over the next five years, this loss could accumulate to as much as $4.22 billion if the full burden of the tariff is passed on to American consumers. However, the actual impact might be less severe if Pakistani exporters absorb part of the…
‘Technical talks’ aim to set up communications channel to avoid clashes in the region, Turkish official says.Turkish and Israeli officials have begun talks aimed at easing tensions in Syria, where the militaries of both countries are active, officials from both sides say. Israel has launched hundreds of air strikes in Syria and deployed troops to a United Nations-patrolled buffer zone in the Golan Heights since opposition fighters removed President Bashar al-Assad in December. Turkiye is a key backer of the interim government in Syria, where its support includes operations against the ISIL (ISIS) armed group. Turkish Foreign Minister Hakan Fidan confirmed on…
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Wealthy investors have made the best trade over the past week — largely doing nothing. While many hedge funds and institutions have been selling over the past week, wealthy individual investors were largely sitting tight or even doing a little buying. Interviews with several top executives in wealth management suggest that unlike the crashes in 2020 or 2008, high-net-worth investors were feeling less pressure to sell…
Listen to article ISLAMABAD: Prime Minister Shehbaz Sharif has endorsed a plan to start negotiations with the United States by offering it lower tariffs and increased market share, as a report says that tariffs hike may dent Pakistan’s exports from $564 million to $2.2 billion. The government plans to reduce tariffs on around 55 products by remaining within the World Trade Organization framework, which would extend the similar benefits to other nations, according to the officials who are privy to these discussions. These lowered tariffs would be largely in line with the tariffs availed by China under the bilateral Free Trade Agreement…
US President Donald Trump’s abrupt decision to implement a 90-day pause on the tariffs he imposed on dozens of countries has sent battered stock markets surging, even as he ratcheted up his trade war with China. Trump’s turnaround on Wednesday, which came just 13 hours after the duties had gone into effect, followed the most intense episode of financial market volatility since the COVID-19 pandemic. Stocks soared following Trump’s announcement of a pause on some tariffs. The S&P 500 jumped 9.5 percent on Wednesday, the index’s biggest single-day leap since 2008. Oil prices, which slid in recent days on fears…
Lissu’s lawyer Rugemeleza Nshala said the charges against his client were politically driven.A court in Tanzania has charged opposition party leader Tundu Lissu with treason after his arrest at a public rally in which he called for electoral reforms. The charges against the chairman of the Chadema party will bring new scrutiny to President Samia Suluhu Hassan’s bid for re-election in October as critics accuse the government of cracking down on the opposition. The opposition leader was forced into a police vehicle late on Wednesday after he had finished addressing a public rally in Mbinga in southern Tanzania. “I came…
President Donald Trump’s aggressive tariff policy on April 2 didn’t just cause mayhem in the stock market. It sent Amazon sellers into a panic.Many sellers on Amazon count on China for manufacturing and assembly due to lower costs and established infrastructure – up to 70% of goods on Amazon come from China, according to Wedbush Securities. With nearly all imports from China being taxed a staggering 145% under the latest tariffs, Amazon sellers are having to decide whether to raise prices or absorb the vastly increased cost of importing their goods.Amazon CEO Andy Jassy on Thursday told CNBC that its…
Listen to article Prime Minister Shehbaz Sharif departed on Thursday for a two-day official visit to Belarus at the invitation of President Aleksandr Lukashenko. During the visit, Sharif will hold high-level talks with Lukashenko to review bilateral cooperation and explore new avenues of engagement between the two countries. Officials say the visit is expected to result in the signing of several agreements aimed at boosting trade, investment and diplomatic ties. The trip follows a string of recent high-level exchanges, including the 8th Session of the Joint Ministerial Commission held in February, which set the stage for deeper cooperation. Sharif is accompanied by…