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Volkswagen says trade tensions, EV costs to weigh on profits

STUTTGART, Germany (Reuters) -Volkswagen said on Wednesday it expects annual operative profit at the bottom end of its forecast, the latest carmaker to dampen its outlook as an industry already pressured by costs and competition grapples with tariff uncertainty. The carmaker, which suffered a 40% ...
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‘Never kneel’: China taps Korean War and AI memes to hit back at Trump

By Joe Cash BEIJING (Reuters) -China is leveraging its propaganda machine to hit back at U.S. tariffs, rolling out videos using Cold War imagery to lambaste “imperialists” and send a simple message – capitulation to bullies is dangerous, and we won’t back down. Beijing has made ...
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China’s export orders dip in April as Trump’s tariffs begin to bite

Higher tariffs on U.S. imports of products from China appear to be taking a toll on the world’s second-largest economy, according to monthly surveys of Chinese factory managers released Wednesday. The official survey by the China Federation of Logistics and Purchasing shows export orders ...
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Analysis-Investors seek new tariff-proof market niches as Wall St chaos hits Europe

By Naomi Rovnick LONDON (Reuters) -Investors who rushed out of Wall Street during a month of U.S. policy shocks that raised European growth risks are turning their attention to niche markets such as Latin American currencies and gold mining stocks in a new bid to ...
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UBS 1Q profit tops expectations on tariff-driven volatility in markets

(Reuters) -Swiss bank UBS on Wednesday posted better than expected first-quarter net profit, helped by stronger earnings in trading driven by market turbulence in the wake of U.S. tariff turmoil, which it said could delay corporate deals. Switzerland’s biggest bank reported net profit attributable to ...
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Stockpiling ahead of tariffs likely hurt US economy in the first quarter

By Lucia Mutikani WASHINGTON (Reuters) -The U.S. economy likely stalled or even contracted in the first quarter, swamped by a deluge of imported goods by businesses eager to avoid higher costs, underscoring the disruptive nature of President Donald Trump’s often chaotic tariff policy. The Commerce Department’s ...
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Australia treasurer, in election mode, highlights drop in core inflation

SYDNEY (Reuters) -Australia Treasurer Jim Chalmers said the market was justified to expect more interest rate cuts after annual core inflation slowed to a three-year low, highlighting the decline three days ahead of a closely-contested national election. The key trimmed mean measure of annual inflation, ...
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Asian shares rise after gains on Wall Street as corporate profits pile higher

Shares were mixed Wednesday in Asia after U.S. stocks rose again as companies reported stronger-than-expected profits. U.S. futures fell and oil prices also edged lower. Uncertainty around President Donald Trump’s trade war limited gains in U.S. stocks. So did a drop in consumer confidence ...
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Asia hedge funds add Japan, India after tariff shock, says Morgan Stanley

HONG KONG (Reuters) – Asian hedge funds tiptoed back into the market last week, adding to their positions in Japan and India shares, after quickly cutting exposure when U.S. President Donald Trump unleashed sweeping tariffs at the start of the ...
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Shares wobble, oil prices weak as tariffs fuel global growth concerns

By Rae Wee SINGAPORE (Reuters) – Shares struggled for direction on Wednesday and oil prices slid as relief over a potential easing of global trade tensions was offset by a worsening economic outlook and dour signals from corporates swept up by ...
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Australia’s core inflation slows to 3-year low in Q1, supports May rate cut

By Stella Qiu SYDNEY (Reuters) -Core inflation in Australia slowed to a three-year low in the first quarter as costs in the services sector cooled markedly, data showed on Wednesday, supporting the case for another cut in interest rates in coming weeks. Investors are fully expecting ...
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China’s factory activity slows as US tariffs hit export orders

BEIJING (Reuters) – China’s factory activity slowed at the start of the second quarter, with a sharp fall in new export orders and the resumption of employment declines, a private-sector survey showed on Wednesday. The survey shows U.S. tariffs beginning to ...
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