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Analysis-More Japanese embracing foreign rice, even before it became a tariff topic

By Kaori Kaneko and Chang-Ran Kim TOKYO (Reuters) – When a severe rice shortage sent prices skyrocketing in Japan last year, Tokyo restaurant owner Arata Hirano did what had once seemed unthinkable: he switched to an American variety.   The price of the ...
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Alcoa expects $90 million tariff hit in second quarter, sees duties on China raising annual costs

(Reuters) – Alcoa said on Wednesday it expects U.S. tariffs on aluminum imports from Canada to cost the company about $90 million in the current quarter. Since his inauguration in January, U.S. President Donald Trump has announced – and sometimes reversed ...
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CFPB to focus less on imposing penalties on companies, WSJ reports

WASHINGTON (Reuters) – Consumer Financial Protection Bureau Acting Director Russ Vought said on Wednesday the bureau will focus on redressing “tangible harm” by getting money back directly to consumers rather than imposing penalties on companies, according to a memo posted ...
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Temu, Shein slash digital ads as tariffs end cheap shipping from China, data show

By Arriana McLymore NEW YORK (Reuters) – Chinese online marketplace Temu and fast-fashion retailer Shein, two of the biggest advertisers on U.S. social media, are sharply cutting their U.S. digital ad spending, industry data show, in a blow to tech companies ...
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Tariff-wounded stocks find no balm with Powell remarks

By Lewis Krauskopf NEW YORK (Reuters) -Investors who may have been hoping the Federal Reserve is poised to come to the aid of tariff-rattled markets took away an unwelcome message from the central bank’s chief on Wednesday: the Fed may be in a bind. Fed ...
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CSX profit drops 27% as railroad shipments decline amid construction projects and flooding

OMAHA, Neb. (AP) — CSX railroad’s profit fell 27% in the first quarter as two major construction projects forced them to reroute some trains and constrained its response to flooding and other weather challenges, curtailing shipments. The Jacksonville, Florida-based railroad said it earned $646 million ...
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Wall Street ends sharply lower; Nvidia drops, Powell says growth appears to be slowing

NEW YORK (Reuters) – U.S. stocks ended sharply lower on Wednesday as Nvidia warned about steep charges from new U.S. curbs on its chip exports to China and as Federal Reserve Chair Jerome Powell said U.S. economic growth appears to be slowing. Powell, in remarks ...
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Fed Chair Powell sounds alarm on tariffs, sending stocks lower

(WASHINGTON) -- Federal Reserve Chair Jerome Powell said Wednesday that he expects President Donald Trump's tariffs policy to cause higher inflation and slower economic growth, complicating potential central bank efforts to ease the fallout."The level of the tariff increases announced so far is significantly ...
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CSX profit drops 27% as railroad shipments decline in the first quarter

OMAHA, Neb. (AP) — CSX railroad’s profit fell 27% in the first quarter as two major construction projects contributed to a decline in shipments. The Jacksonville, Florida-based railroad said it earned $646 million net income, or 34 cents per share, during the quarter. That’s down ...
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Meta CEO Mark Zuckerberg wraps up testimony in antitrust case

WASHINGTON (AP) — Meta CEO Mark Zuckerberg emphasized in federal court on Wednesday that he bought Instagram and WhatsApp because he saw value in the companies — not to take out competitors, as the Federal Trade Commission alleges in a historic antitrust trial. Zuckerberg took ...
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Egypt’s revenue from the Suez Canal plunged sharply in 2024

CAIRO (AP) — Egypt’s revenue from the Suez Canal plunged by almost two thirds last year, officials said Wednesday, attributing the sharp drop to regional tensions and wars in the Middle East that have impacted traffic through the key waterway. The canal is a major ...
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US-China trade fight slams stocks, sends gold to record high

By Lawrence Delevingne and Harry Robertson BOSTON/LONDON (Reuters) -Global shares fell sharply on Wednesday as U.S. restrictions on chip sales to China and continued tariff uncertainty battered tech stocks, while gold traded at record highs and support for the dollar continued to erode.  Washington issued new ...
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