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Copper prices witnessed a sharp increase of more than 5% in New York, surpassing other global benchmarks, following US President Donald Trump’s announcement of a potential 25% tariff on metal imports, reported Bloomberg. President Trump’s speech to Congress on Tuesday sparked a rally in copper prices on the Comex trading platform during Asian trading hours. Market participants reacted swiftly to the prospect of larger-than-anticipated tariffs on copper, which could be implemented sooner than expected. Last week, President Trump announced that the Commerce Department will conduct a comprehensive investigation that might lead to copper tariffs on national security grounds. This has…
Applications for U.S. jobless benefits fell last week as the labor market remains sturdy ahead of an expected purge of federal government employees. The number of Americans filing for jobless benefits fell by 21,000 to 221,000 for the week ending March 1, the Labor Department said Thursday. That’s significantly fewer than the 236,000 new applications analysts expected. Weekly applications for jobless benefits are considered a proxy for layoffs, which have remained mostly in a range between 200,000 and 250,000 for years. The four-week average, which evens out some of the week-to-week volatility, inched up by 250 to 224,250. Some analysts…
(Bloomberg) — The US trade deficit widened to a record in January as companies scrambled to secure goods from overseas before President Donald Trump imposed tariffs on America’s largest trading partners. Most Read from Bloomberg The gap in goods and services trade widened 34% from the prior month to $131.4 billion, Commerce Department data showed Thursday. The deficit was larger than all but one estimate in a Bloomberg survey of economists. The value of imports rose 10% to a record $401.2 billion, while exports increased 1.2%. The figures aren’t adjusted for inflation. Trump promised sweeping tariffs during the 2024 presidential…
US-based Cold Chain Technologies (CCT), a provider of thermal packaging and digital monitoring solutions, has acquired Global Cold Chain Solutions (GCCS), which offers passive cold chain solutions. The acquisition marks an expansion of CCT’s operational capabilities and its presence in the Asia-Pacific region. The financial details of the transaction have not been disclosed. Headquartered in Melbourne, Australia, GCCS designs and manufactures thermal assurance solutions for various life sciences applications. It specialises in good distribution practice-compliant temperature-controlled packaging and monitoring for pharmaceuticals, healthcare, and logistics. Its advanced thermal engineering capabilities and manufacturing sites in Australia and India are claimed to offer…
UK retailer Marks & Spencer (M&S) has allocated £95m ($121m) to increase its retail pay offer, despite facing additional financial pressures due to recent government measures. This is the largest allocation of funds to retail pay since Stuart Machin assumed the role of CEO in 2022 and the third such raise under his leadership. Effective from 1 April 2025, remuneration for around 50,000 UK customer assistants will rise from £12 to £12.60 per hour. The adjustment means an enhancement of 5% compared to the previous year and a cumulative 26% rise since 2022 – twice the inflation rate during that…
(Bloomberg) — President Donald Trump is asking American growers to bear with him as tariffs threaten to hurt their business and deepen a farm downturn that’s entering a third year. Most Read from Bloomberg Beijing has already enacted countermeasures on a range of agricultural commodities including soybeans, pork and beef. Canada also hit back at Trump, retaliating against about $107 billion worth of US goods, including food products from meat to dairy. Mexico plans to make an announcement on Sunday. The trade disputes are a blow for American farmers, a key voting bloc for Trump. But in a speech to…
We recently compiled a list of the 10 Stocks on Jim Cramer’s Radar. In this article, we are going to take a look at where Eaton Corporation plc (NYSE:ETN) stands against the other stocks on Jim Cramer’s radar. Jim Cramer, the host of Mad Money, addressed some of Wall Street’s primary concerns on Tuesday, offering insights into how the White House may interpret the ongoing issues surrounding President Donald Trump’s aggressive tariff policies. As alarmed investors continue to react to the potential consequences of these actions, Cramer outlined the main observations that point to the administration’s unpredictable approach. First, Cramer emphasized…
(Bloomberg) — Mars Inc. sold $26 billion of US high-grade bonds on Wednesday to help fund its acquisition of rival foodmaker Kellanova, in the biggest US corporate bond sale of the year. Most Read from Bloomberg The candy maker saw strong demand for the bonds with investors placing orders for around $114.4 billion worth of notes, the biggest final order book on record for the US corporate market, according to people with knowledge of the transactions. The final orders for bonds represented about 4.4 times the notes actually for sale, while the average ratio for the year is closer to…
US-based insurance brokerage CCIG has acquired domestic peer Carver & Associates Insurance Services for an undisclosed amount. Headquartered in Colorado, Carver & Associates offers personal and commercial insurance solutions. The business focuses on Colorado’s Front Range and Phoenix, Arizona, markets. CCIG believes this purchase will strengthen its foothold in key south-western US markets including Austin, Texas, and Phoenix. The acquisition is part of CCIG’s organic expansion strategy aimed at enhancing its services for middle-market clients. The company said that clients of Carver & Associates will gain expanded carrier access through the deal. CCIG teams up with national, regional and specialty…
(Bloomberg) — Germany’s historic plan to ramp up spending shook European markets on Wednesday, powering equities past their US peers, reviving the euro from the brink of parity with the dollar and consigning German bunds to their worst day since 1990. Most Read from Bloomberg Investors hailed a landmark moment in Europe’s largest economy and traditional advocate of tight budgets after Chancellor-in-waiting Friedrich Merz declared Germany would do “whatever it takes” to defend itself and pledged to ease constraints on government spending. Germany’s benchmark stock index surged 3.4% in its biggest one-day rally since 2022 and lifted the pan-European Stoxx…