Economy

Economy Latest News

US Senate poised to advance Trump aide's appointment at Fed
US Senate poised to advance Trump aide's appointment at Fed
by  AFP

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 
US 'very close' to TikTok deal with China: US Treasury chief 
by  AFP

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
German defence giant Rheinmetall to take over warship maker
by  AFP

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.

US-China trade talks resume in Madrid
US-China trade talks resume in Madrid
by  AFP

China and the United States resumed trade talks on Monday in Madrid, seeking to narrow differences on trade and technology that have strained relations between the world's two largest economies. Over the weekend, China launched investigations into the US semiconductor sector, signalling frictions remain high despite the Madrid talks.