Chevron sees no signs that U.S. is close to a recession, CEO says
Spencer Kimball APR 22 2025 CNBC Chevron CEO Mike Wirth said the oil major is not seeing any signs that a recession is imminent. But oil prices at $60 per barrel or lower will impact production in the Permian Basin, Wirth said. Chevron is not changing any of its plans in response to lower prices, […]
Roche to invest $50 billion in US to avoid Trump tariffs, create 12,000 jobs
By John Revill April 22, 2025 Reuters ZURICH, April 22 (Reuters) – Roche (ROG.S), opens new tab said on Tuesday it would invest $50 billion in the United States over the next five years, creating more than 12,000 new jobs, in the latest massive investment by companies reacting to President Donald Trump’s tariff policy. The […]
Trump Is Everywhere Except in the Economic Data
By Greg Ip April 20, 2025 The Wall Street Journal Fears that tariffs, spending cuts, deportations would lead to recession and inflation have yet to show up in the numbers. Imagine you didn’t follow the news or social media and watched the world only through economic data. You would not have guessed the White House […]
Trump Says He’s Confident of EU Trade Deal But in ‘No Rush’
Summary by Bloomberg AI President Donald Trump expects to reach a trade deal with the European Union, but is in no hurry to finalize an agreement to reduce tariffs. Trump said he fully expects a trade deal, but it will be a fair deal, and indicated that other nations would need to make concessions. Italian […]
What the Weak Dollar Means for the Global Economy
By Chelsey Dulaney and Alistair MacDonald April 16, 2025 The Wall Street Journal The unexpected weakening of the U.S. dollar is suddenly becoming the rest of the world’s problem. For foreign sellers of all manner of goods, including cars, cognac and Scottish tweed, the dollar’s steep slide is a double whammy, compounding losses caused by […]
Big Banks Show Consumers Remained Resilient Heading Into Tariff Turmoil
Consumer sentiment has fallen since Trump’s ‘Liberation Day’ announcement Ben Glickman and Alexander Saeedy April 15, 2025 The Wall Street Journal Americans say they are getting worried about the economy and inflation, but banks say they aren’t acting like it yet. Bank of America and Citigroup said Tuesday consumer spending ticked higher in the first […]
Trump Exempts Phones, Computers, Chips From ‘Reciprocal’ Tariffs
Summary by Bloomberg AI The Trump administration exempted smartphones, computers, and other electronics from reciprocal tariffs, potentially reducing sticker shock for consumers and benefiting electronics giants like Apple and Samsung. The exclusions apply to popular consumer electronics items not made in the US, such as smartphones, laptop computers, and computer processors, as well as machines […]
Nvidia to mass produce AI supercomputers in Texas as part of $500 billion U.S. push
Hayden Field April 14th 2025 CNBC • Nvidia announced a push to produce NVIDIA AI supercomputers entirely in the U.S. for the first time. • Its Blackwell AI chips have started production in Phoenix, Arizona, at Taiwan Semiconductor plants. • The news comes after President Donald Trump imposed high reciprocal tariffs on a long list […]
Bill Ackman Calls Out Triple-Levered ETFs, Zero-Day Options Boom
Summary by Bloomberg AI Bill Ackman criticized the use of highly-leveraged exchange-traded funds and zero-day stock contracts, questioning their contribution to society and the economy. Levered funds, which allow investors to magnify their exposure to an underlying asset or index, command around $100 billion and have been popular among day traders. Ackman warned that the […]
US Tariff Revenue Gains Seen as Undercut by Declining Trade
Summary by Bloomberg AI President Trump’s tariffs are expected to generate around $300 billion in annual revenue, with some estimates as high as $600 billion. The tariffs are projected to cause a sharp downturn in trade, with total US imports of goods expected to drop by around 30%. The tariffs could reduce US gross domestic […]