U.S. President Donald Trump on Thursday warned he may soon hike auto tariffs, arguing that could prod carmakers to speed U.S. investments. “I might go up with that tariff in the not-too-distant future,” Trump said at a White House event. “The higher you go, the more likely it is they will build a plant here.”…
LONDON: Britain will invest £1.5 billion ($2 billion) in new weapons factories to ramp up defence production capacity, the government said on Saturday, ahead of a major review of its armed forces and military strategy.The Strategic Defence Review, due to be published Monday, will assess the threats facing the UK amid Russia’s ongoing war in…
VIENNA: Saudi Arabia, Russia and six other key OPEC+ members announced on Saturday a huge increase in crude production for July.They will produce an additional 411,000 barrels a day — the same target set for May and then June — according to a statement, which is more than three times greater than the group had…
India’s Index of Industrial Production (IIP) is projected to have slowed down to 1.2 per cent year-on-year in April 2025, down from 3 per cent in March, according to a report by Union Bank of India (UBI). The deceleration is largely attributed to weakened activity in the mining and manufacturing sectors. The report highlights that…
In a historic shift that could mark the end of a centuries-old staple of American pocket change, the US Mint will stop producing new pennies once its current stock of blank coin discs runs out, a Treasury Department official told the Associated Press. The move follows a sharp spike in production costs — the Treasury…
US President Donald Trump has frowned upon Apple’s expansion plans in India. (AI image) Foxconn, Apple’s Taiwanese manufacturing partner, is set to start iPhone shipments from its Karnataka facility in June, with final inspections currently underway for commercial dispatch.This new facility will become Foxconn’s second-largest iPhone manufacturing centre, after its Chinese operation.Sources familiar with the…
The two largest U.S. oil companies reported their lowest first-quarter profits in years on Friday as they braced for the economic fallout from President Trump’s trade war, which has weakened consumer confidence and pushed oil prices down. U.S. crude prices slipped below $60 a barrel this week, a threshold below which many companies cannot make…
President Volodymyr Zelenskyy said on Tuesday that Chinese citizens were working at a drone production site in Russia and suggested that Moscow may have “stolen” drone technology from China. The Ukrainian leader made the comment at a news conference in Kyiv days after he said China was supplying weapons and gunpowder to Russia, the first…
Automakers can respond to President Trump’s new 25 percent tariffs on imported cars and parts in several ways. But all of them cost money and will lead to higher car prices, analysts say. Manufacturers can try to move production from countries like Mexico to the United States. They can try to increase the number of…
Tariff threats. Growing uncertainty about the economy. And a push for much lower oil prices. For all of their bravado about U.S. energy dominance and enthusiasm for deregulation, American energy executives are beginning to worry about President Trump’s agenda. Their concerns crept into conversations in hotel meeting rooms and over private meals this week in…