Latest Business News
Trump's 15% Global Tariff Takes Effect
A 15% tariff on practically all merchandise imported into the United States under Section 122 of the Trade Act took effect on February 24, 2026, replacing previously invalidated IEEPA tariffs. The tariffs will remain in place for 150 days—until July 24, 2026—unless extended by Congress, creating significant uncertainty for global trade
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Supreme Court Strikes Down Previous Trump Tariffs
The U.S. Supreme Court invalidated Trump's earlier tariffs on February 20 with a 6-3 decision, ruling that the president exceeded his authority to issue them under emergency economic powers. This setback forced the administration to pursue tariffs through alternative legal authorities, including Section 122
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US Economic Growth Slows to 10-Month Low
The February flash PMI survey revealed that US business activity growth slipped to a ten-month low, with many firms blaming tariffs and affordability issues for order book problems. This marks a significant slowdown compared to accelerating growth in other major developed economies like Japan and the UK
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Japan's Economic Expansion Hits 33-Month High
Japan's PMI survey showed the country's expansion reached a 33-month high in February, indicating strong economic momentum. This outpaces the US expansion, highlighting divergent growth patterns among developed economies
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UK Growth Climbs to 22-Month Peak
The United Kingdom's economic growth climbed to its fastest pace in 22 months according to the February flash PMI, demonstrating resilience in the UK economy. The acceleration contrasts sharply with slowing growth in the United States
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Gilead Acquires Arcellx for Up to $7.8 Billion
Gilead Sciences has agreed to acquire cancer therapy developer Arcellx, paying $115 per share in cash at deal closing. The acquisition represents a significant pharma sector development and Gilead's strategic push into cell therapies
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Hyundai Pledges Record $85.8 Billion Investment in South Korea
Hyundai Motor Group announced plans to invest $85.8 billion in South Korea over the next five years, focusing on cutting-edge technologies like artificial intelligence, robotics, and electric vehicles. This unprecedented investment aims to strengthen the nation's innovative capabilities and amplify vehicle exports
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AkzoNobel and Axalta Merge to Create $25 Billion Paint Giant
Paint manufacturers AkzoNobel and Axalta Coating Systems are merging to create a company with an enterprise valuation of $25 billion, with AkzoNobel shareholders receiving a $2.5 billion dividend. This strategic combination creates a major player in the global coatings industry
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Xiaomi Reports 81% Profit Jump on Strong EV Sales
Xiaomi celebrated an 80.9% profit increase in the third quarter, largely fueled by its burgeoning electric vehicle line and innovative initiatives. The company achieved a net gain from EV operations within a single quarter for the first time
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Trade Uncertainty Roils Global Stock Markets
Global stock markets declined sharply as trade uncertainty intensified following the new 15% tariff announcement, with consumer and industrial stocks experiencing significant gaps downward. The European Parliament signaled it would freeze ratification of its US trade deal in response to the tariff measures
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Canadian Businesses Face Strategic Recalibration Over US Tariffs
Canadian small businesses are caught in the crossfire of Trump's new tariff regime, forcing companies to rethink their strategies amid unprecedented global market conditions. Trade analysts warn that uncertain and volatile tariffs will dampen trade flows and accelerate the redirection of trade
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Multiple Central Banks Prepare Interest Rate Decisions
The Bank of Thailand and South Korea's central bank are scheduled to announce interest rate decisions this week, with markets seeking clues on whether Japan and Australia might soon implement further rate hikes. These decisions will provide guidance on future central bank policy directions
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