A billionaire backer of Donald Trump has urged the US president to pause his recently announced trade tariffs or risk “a self-induced, economic nuclear winter”. Hedge fund manager Bill Ackman, who lent his support to Trump before the 2024 presidential election, said the president should take three months to allowContinue Reading
The Managing Director of the International Monetary Fund, Kristalina Georgieva, has warned that the US tariffs announced by President Donald Trump pose a significant risk to the global outlook at a time of sluggish growth. In a statement, the IMF boss said her outfit is still assessing the macroeconomic implicationsContinue Reading
U.S. customs agents began collecting President Donald Trump’s unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week. The initial 10% “baseline” tariff took effect at U.S. seaports, airports and customs warehouses at 12:01 a.m.Continue Reading
U.S. President Donald Trump on Friday extended the deadline for the sale of ByteDance’s U.S. assets of short video app TikTok, saying “tremendous progress” had been made but more work was needed to secure approvals. Trump added that he looked forward to working with TikTok and China to close theContinue Reading
Egyptian President Abdel Fattah al-Sisi and U.S. President Donald Trump discussed mediation efforts to restore regional calm, which would have a positive impact on Red Sea navigation and end economic losses for all parties, the Egyptian presidency said on Tuesday. The Iran-aligned Houthis have carried out more than 100 attacksContinue Reading
President John Dramani Mahama has announced that Ghana will invest in increasing food production in response to the suspension of USAID, which has long been a key source of aid for Africa. The move follows the decision by former U.S. President Donald Trump to shut down USAID, citing concerns overContinue Reading
South Africa appears to be at a crossroads in its waxing and waning relationship with the US following President Donald Trump’s controversial decision last week to cut financial aid to the country. Trump said South Africa was pursuing what he called “unjust and immoral practices” against the white minority AfrikanerContinue Reading
A federal judge has blocked Elon Musk’s Department of Government Efficiency (Doge) from accessing the personal financial data of millions of Americans in Treasury Department records, according to court documents. US District Judge Paul A. Engelmayer issued a preliminary injunction on Saturday to prohibit access, ordering Musk and his teamContinue Reading
US President Donald Trump has signed a legal settlement that will see Facebook and Instagram owner Meta pay out roughly $25m (£20m). Trump sued the social media giant and its chief executive, Mark Zuckerberg, in 2021 over the suspension of his accounts after the 6 January Capitol riots that year.Continue Reading
US aviation giant Boeing has told BBC News it is donating $1m (£812,600) to an inauguration fund for President-elect Donald Trump. Google has also confirmed that it has made a similar donation as the two firms join a growing list of major American companies contributing to the fund. The listContinue Reading