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Italy agrees with US to oppose ‘discriminatory’ tech taxes

WASHINGTON (Reuters) – Italy and the United States issued a joint statement against “discriminatory” taxes on digital services on Friday, in a possible signal Rome is moving away from a levy that has irked Washington. The statement came as Meloni held ...
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Trump will study whether to fire Fed Chair Powell, adviser says

By White, House, economic, adviser and Kevin WASHINGTON (Reuters) – White House economic adviser Kevin Hassett said on Friday that President Donald Trump and his team would study the matter when asked if firing Federal Reserve Chair Jerome Powell was an ...
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Living through a ‘low-attention disaster,’ Mountain Fire survivors recover in LA’s shadow

SOMIS, Calif (AP) — The ashes of Hatim Naim’s burned home lie just a few dozen miles west of the Los Angeles areas destroyed by January’s Palisades and Eaton fires. But because the Mountain Fire, which destroyed 182 houses and other structures in Ventura ...
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Crews restore power to nearly all customers after island-wide blackout hit Puerto Rico

SAN JUAN, Puerto Rico (AP) — Power was restored to 98.8% of customers early Friday after an island-wide blackout hit Puerto earlier this week, authorities said. More than 1.45 million customers had electricity less than 48 hours after the outage hit, according to Luma Energy, ...
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New US ambassador to Japan says he’s optimistic a tariffs deal can be reached

TOKYO (AP) — The new U.S. ambassador to Japan arrived in Tokyo on Friday and said he is optimistic that his country and its key Asian ally will reach a deal in their ongoing tariff negotiations. George Glass, a prominent businessperson known for his background ...
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China’s fiscal revenue falls 1.1% in January-March

BEIJING (Reuters) – China’s fiscal revenue decline slowed in the first three months this year as Beijing works to shore up its economy while weathering the storm from mounting U.S. tariffs. Fiscal revenue in the January-March period totalled 6.0 trillion yuan ...
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Google to appeal against part of US court’s decision in monopoly case

(Reuters) -Alphabet’s Google plans to appeal against the “adverse” portion of the court decision in the U.S. Department of Justice’s monopoly case against the technology giant. On Thursday U.S. District Judge Leonie Brinkema found Google liable for “willfully acquiring and maintaining monopoly power” in markets ...
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China issues plan for expanding service sector opening-up

BEIJING (Reuters) – China on Friday issued a plan to further open the country’s service sector, proposing to lift foreign equity ratio restrictions for app store services. China’s move to lure more foreign investment into its burgeoning services sector comes as ...
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Italian fashion house Valentino suffers 22% profit drop in 2024

ROME (Reuters) – Italian fashion house Valentino’s operating profit dropped 22% last year, the company said on Friday, as the luxury sector faced a slowdown in global demand for high-end goods, particularly in Asia. European luxury groups have been counting ...
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Busy US earnings week confronts market grappling with tariff fallout

By Lewis Krauskopf NEW YORK (Reuters) – A heavy slate of U.S. company results in the coming week will test a stock market shaken by a U.S. trade policy overhaul that upended the outlook for the global economy and corporate America. Investors ...
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Strange sell-off in the dollar raises the specter of investors losing trust in the US under Trump

NEW YORK (AP) — Among the threats tariffs pose to the U.S. economy, none may be as strange as the sell-off in the dollar. Currencies rise and fall all the time because of inflation fears, central bank moves and other factors. But economists worry that ...
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In US Chinatowns, merchants ‘don’t want the trade war to be a war’

By Hannah Lang and Judith Langowski (Reuters) – Last week, a pack of rice crackers at Sun Vin Grocery store on Mulberry Street in New York City’s Chinatown cost $4.99.  But this week, after President Donald Trump’s tariffs on items imported from ...
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