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Thyssenkrupp says India's Jindal Steel makes bid for steel business
India's Jindal Steel International has made an offer for Thyssenkrupp's steel division, the German company said Tuesday, in what would be a mega-deal for the struggling industrial titan. It confirmed in a statement that it had received a "non-binding" offer from Jindal Steel International for the purchase of Thyssenkrupp Steel Europe (TKSE).
US retail sales beat expectations in August despite tariffs
Retail sales in the United States were hotter than expected in August, government data showed Tuesday, although analysts warned consumers may run out of steam as President Donald Trump's tariffs bite. A separate report Tuesday showed that industrial production rose 0.1 percent in August, reversing a 0.4 percent decline in July.
Europe slow to match economic rivals US, China: Draghi
The European Union is "failing to match the speed of change" in the United States and China and must act urgently on economic reforms to avoid falling further behind, a key report's author said Tuesday. "They see us failing to match the speed of change elsewhere," said Draghi, a former Italian prime minister.
Asian markets rise as traders prepare for expected US rate cut
Asian stocks rose again Tuesday to extend another record day on Wall Street as traders locked in bets on a US interest rate cut this week, while they are also keenly eyeing flagged talks between Donald Trump and Xi Jinping.
Lower US tariffs on Japan autos to take effect Tuesday
Lower US tariffs on Japanese autos are set to take effect this week, a Commerce Department notice confirmed Monday, as Washington implements a recent trade pact it had negotiated with Tokyo.
Protesting Peru residents block trains to Machu Picchu
Train services to the Inca citadel of Machu Picchu, Peru's main tourist attraction, was suspended Monday as protesting residents placed logs and rocks on the tracks, police and PeruRail said. Residents are demanding that a new company be chosen to run the buses that ferry visitors from the Aguas Calientes train station at the foot of Machu Picchu, to the site itself.
US Senate poised to advance Trump aide's appointment at Fed
The US Senate is due to vote late Monday on the confirmation of President Donald Trump's choice to join the Federal Reserve's board -- as the clock ticks down to a key policy meeting. Policymakers on the rate-setting Federal Open Market Committee are due to begin their next two-day meeting on Tuesday morning.
US 'very close' to TikTok deal with China: US Treasury chief
The United States is "very close" to a deal with China to settle their dispute over TikTok, US Treasury Secretary Scott Bessent said Monday as the two sides resumed trade talks in Madrid. "On the TikTok deal itself, we're very close to resolving the issue," Bessent told reporters as he arrived at Spain's foreign ministry for a second day of talks.
German defence giant Rheinmetall to take over warship maker
Germany's Rheinmetall has struck a deal to take over a warship builder, both companies said, the defence giant's latest expansion to meet booming demand as European countries rush to rearm. European countries have been racing to build up their militaries since Russia's 2022 invasion of Ukraine.
AFP
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