Economic

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Oil prices may rise to $250 under new restrictions against Russian fuel — Sechin

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If another 7 mln barrels of Russian oil exports are added to the existing 16 million barrels under restrictions, then former International Energy Agency head Nobuo Tanaka Mr. Tanaka is most likely right, Executive Secretary of the presidential commission on fuel and energy sector development strategy and environmental security and Rosneft CEO said

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Economic

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What does Washington’s latest AI chip guidance mean for Chinese tech firms?

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China’s Ministry of Commerce has lashed out at Washington’s latest guidance on advanced artificial intelligence chip exports, accusing the United States of abusing export controls and disrupting the global semiconductor supply chain. But trade lawyers and industry insiders said the actual fallout over the new document could be far more limited than the geopolitical fireworks suggest. The US Bureau of Industry and Security (BIS) issued guidance on May 31, stating licences would be required to...

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Economic

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KPMG Chief Economist Discusses Fed Rate Hike Expectations

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Diane Swonk, KPMG Chief Economist, analyzed the current economic landscape, highlighting how improvements in the labor market and persistent service sector inflation are driving hawkish sentiment among Federal Reserve officials. She noted that bond market pricing reflects expectations of a 25 basis point rate hike in 2026, signaling a shift in monetary policy outlook. She speaks with Romaine Bostick & Katie Greifeld on "The Close. " (Source: Bloomberg)

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Economic

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Strong U.S. Jobs Report Lowers Recession Risks Despite Wage Growth Lagging Inflation

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Gene Sperling, President of Sperling Economic Strategies and former director of the National Economic Council, discussed the recent U. S. jobs report, highlighting that the headline numbers were stronger than expected and suggest a low likelihood of recession despite ongoing geopolitical and economic challenges. He noted that while job creation appears broad-based, some gains—such as the 70,000 hospitality jobs—may be influenced by seasonal factors like World Cup-related hiring. He speaks with Romaine Bostick and Katie Greifeld on "The Close. " (Source: Bloomberg)

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Economic

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Trump's trade chief says 'deal's a deal' for economies with capped US tariffs

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America's trade representative assures that new tariffs will respect existing agreements. He stated that a deal is a deal for nations like the European Union and Japan. The US aims to resolve problematic trade practices while accommodating prior agreements. This approach seeks to balance new trade policies with commitments made to key economic partners.

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Canada and Mexico tell US they want free trade deal renewed

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Canada and Mexico on Tuesday called for a 16-year renewal of the North American free trade agreement with the United States, in hopes of binding the three countries to a pact that US President Donald Trump has openly questioned. The agreement is vital for Canada and Mexico, as the US is their main trading partner and the destination for 75 and 80 per cent of their exports, respectively. In a letter Monday, Ottawa’s minister in charge of Canada-US trade Dominic LeBlanc said: “Canada recommends...

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US stocks today: US stocks end modestly higher as AI zeal overcomes Middle East jitters

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US stocks ended mixed as AI-driven optimism supported markets but was offset by rising geopolitical tensions and oil prices. Small-cap and semiconductor stocks gained, while software lagged. Alphabet’s massive AI funding plan and Marvell’s rally highlighted ongoing AI momentum, even as inflation fears and rate hike concerns kept investors cautious.

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US proposes 25% tariff to punish Brazil over trade practices

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The Trump administration has proposed a new punitive tariff of 25 per cent on many imports from Brazil, after deciding its practices were unfair on a range of issues from digital trade to illegal deforestation, top trade official Jamieson Greer said late on Monday. The measures, under the Section 301 trade statute, cover areas such as electronic payment services, preferential tariffs, intellectual property protection and ethanol market access as well, the Office of the United States Trade...

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Putin in Beijing, ‘China shock’ in EU: 7 global relations reads

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We have selected seven of the most interesting and important news stories covering global relations from the past few weeks. If you would like to see more of our reporting, please consider subscribing. Brussels agrees on tougher China trade policy, as Beijing vows retaliation The European Commission agreed on a tough new approach to trade relations with China in May, at a rare Beijing-focused debate among Brussels’ leadership. The trade-focused orientation debate is seen internally as the...

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