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Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldThe Federal Reserve has kept US interest rates on hold for the third meeting in a row, as officials highlighted growing concerns that President Donald Trump’s tariffs will trigger a fresh burst of inflation and weaken the jobs market. “Uncertainty about the economic outlook has increased further,” the policymaking Federal Open Market Committee said on Wednesday, after voting unanimously to keep the federal funds target at a range of between 4.25 and 4.5 per cent. The committee added that, since…

The Federal Reserve on Wednesday held its key interest rate unchanged as it awaits fluctuations in trade policy and the direction of a sputtering economy.In a move that carried little suspense given the wave of uncertainty sweeping the political and economic landscape, the Federal Open Market Committee held its benchmark overnight borrowing rate in a range between 4.25%-4.5%, where it has been since December.The post-meeting statement noted the volatility and how that is factoring into policy decisions.”Uncertainty about the economic outlook has increased further,” the statement said. “The Committee is attentive to the risks to both sides of its dual…

Disney shares surged Wednesday on a strong quarter and positive guidance. The cherry on top was plans for a new theme park in the United Arab Emirates, a sign of long-term confidence in its profit engine. Revenue in the three months ended March 29 increased 7% year over year to $23.62 billion, topping expectations of $23.14 billion, according to LSEG. Adjusted earnings per share in the fiscal 2025 second quarter totaled $1.45, beating expectations of $1.20. On an annual basis, adjusted EPS jumped 20%. DIS YTD mountain Disney YTD Shares of Disney added more than 11% on pace for their…

Maros Sefcovic, European Commissioner for Trade and Economic Security; Interinstitutional Relations and Transparency, speaks to reporters in Singapore on May 7, 2025, after signing of the EU-Singapore Digital Trade Agreement (DTA), a landmark initiative enhancing digital economic cooperation between the European Union and Singapore. Roslan Rahman | Afp | Getty ImagesThe European Union’s executive arm will announce further details of its proposed countermeasures to U.S. tariffs in a Thursday update, European Trade Commissioner Maros Sefcovic said Wednesday. “Tomorrow we will announce next preparatory steps, both in the area of possible rebalancing measures, and also in the areas important for the…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. U.S. stocks are mixed on Wednesday as the S & P 500 attempts to break a two-day losing streak. Investors are optimistic about potential trade negotiations with China. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer plan to meet Chinese officials over the weekend in Switzerland. The more immediate market focus will be what Federal Reserve Chairman Jerome Powell says about tariffs and the economy at his news conference Wednesday afternoon following…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. U.S. stocks are mixed on Wednesday as the S & P 500 attempts to break a two-day losing streak. Investors are optimistic about potential trade negotiations with China. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer plan to meet Chinese officials over the weekend in Switzerland. The more immediate market focus will be what Federal Reserve Chairman Jerome Powell says about tariffs and the economy at his news conference Wednesday afternoon following…

Decree signed by General Assimi Goita days after rare protest suspends activities ‘until further notice’, citing ‘reasons of public order’.Mali’s military government has suspended the activities of political parties “until further notice”, days after a rare pro-democracy rally. The decree signed on Wednesday by the transitional president, General Assimi Goita, cited “reasons of public order” and covered all “associations of a political character”, according to state media. It was issued a week after authorities announced the repeal of a law governing the operation of political parties – a decision interpreted by legal experts as a step towards their dissolution. In…

Fears of an AI bubble bursting appear unjustified — at least judging by Big Tech earnings so far. Alphabet and Club names Amazon , Microsoft and Meta Platforms last week signaled they will continue to aggressively invest in artificial intelligence and cloud infrastructure by either reaffirming or raising their capital expenditure (capex) commitments for their current quarters while keeping their full-year budgets intact. That’s a big deal, considering these four are the dominant hyperscalers — a common term for companies that operate massive data centers to deliver cloud computing platforms or other products and services to customers. Advanced Micro Devices…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Slapping tariffs on foreign films, US President Donald Trump’s latest wheeze, is a plot riddled with holes. Films, like cars, are often multinational affairs. Random example: The Apprentice, a biopic charting the rise of a younger Trump, corralled funding from four countries. The director is Iranian-Danish; two of the leads hail from eastern Europe.It helps to start with some scene-setting. The White House has generally presented tariffs as a way of whittling down the US trade deficit. Yet when it comes to…

Shares of Chinese defense-manufacturing companies rallied on Wednesday, as the escalation in border tensions between Pakistan and India boosted the outlook for mainland exporters, Bloomberg said in a report. Pakistan, which has imported a bulk of the defense equipment including J-10C fighter jets, shot down five Indian planes, including three French Rafale jets. “This led to speculation that Chinese defense platforms may have been deployed in the conflict, given Pakistan’s recent heavy reliance on such arms imports,” the report said. According to Bloomberg, an index of Chinese defense companies in mainland China jumped 1.6% to a two-week high. The J-10C…