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Gold prices surged past $4,300 an ounce on Friday, heading for their largest weekly gain since December 2008, driven by rising geopolitical tensions, expectations of US interest rate cuts, and lingering concerns about regional banking stability. Spot gold rose 0.2% to $4,332.17 per ounce as of 1100 GMT after reaching an intraday record of $4,378.69. … Read more
WASHINGTON — Western powers are tightening diplomatic and economic pressure on India and China to scale back purchases of Russian oil, as the United States and the United Kingdom move to further isolate Moscow over its war in Ukraine. US President Donald Trump said Wednesday that India had agreed to stop buying Russian crude, a … Read more
TAIPEI, Taiwan — Taiwan Semiconductor Manufacturing Co. (TSMC) reported a nearly 40% jump in net profit for the July September quarter, propelled by the surging global demand for artificial intelligence chips and resilient semiconductor sales to major clients including Apple and Nvidia. The company, the world’s largest contract chipmaker, posted a record net profit of … Read more
BEIJING — China’s state media on Thursday published a seven point rebuttal to US criticism over its new rare earth export controls, pushing back against accusations that the measures amount to an economic power play. The exchange marks the latest flashpoint in a widening dispute between Washington and Beijing over critical minerals and trade policy, … Read more
Global markets today climbed on Wednesday as investors reacted to dovish remarks from US Federal Reserve Chair Jerome Powell and strong quarterly results from major Wall Street banks. The US dollar weakened while European and Asian equities rebounded after a turbulent start to the week driven by escalating US China trade tensions. Market optimism returned … Read more
TAIPEI — Taiwan’s Foxconn said Wednesday it expects little immediate disruption from China’s newly expanded rare earth export restrictions, though company officials warned that prolonged trade tensions could eventually affect global industries. “If the ongoing restrictions continue to escalate tensions, it will impact industries across the board, not just Foxconn,” Chairman Young Liu told reporters … Read more
NEW YORK — Wall Street closed mixed Friday as banking stocks rallied on stronger than expected earnings, even as rising US China trade tensions and new port fees rattled global markets. The S&P 500 dipped modestly, the Nasdaq slid, but gains in industrials and financials propped up the Dow. Investors remain cautious of the evolving … Read more
BEIJING (AP) — China trade data showed a surprising rebound in September as exports rose at the fastest pace in six months and imports climbed to their strongest level since April 2024, defying expectations of a prolonged slowdown amid rising trade tensions with the United States. Exports increased 8.3% from a year earlier in US … Read more
NEW YORK — Cathie Wood, founder and chief executive of ARK Invest, trimmed her firm’s position in artificial intelligence giant Palantir Technologies, signaling a tactical shift as valuations across the AI sector soar. According to ARK’s daily trade filings, the firm sold about 4,000 Palantir shares on October 10, worth roughly $754,000. Though modest, the … Read more
NEW YORK — US stocks tumbled Friday after former President Donald Trump warned of “massive” new tariffs on Chinese imports, wiping out roughly $2 trillion in market value within hours and sending a shockwave through global markets. The S&P 500, which had been near an all time high early in the session, fell 2.7% by … Read more
