The U.S. has raised tariffs on most Indian imports to 50%, doubling the previous rate and extending them to sectors including garments, jewellery, seafood, and furniture. The decision, effective 27 August, is linked to India’s ongoing purchases of Russian oil, which Washington argues help fund the Ukraine war and undermine sanctions. Analysts estimate the tariffs […]
UK annual inflation rose to 3.8% in July, the highest in 18 months, fuelled by higher food and airfare costs. Services inflation, a key gauge for the Bank of England, also climbed to 5.0% from 4.7%. On the market front, the UK’s FTSE 100 Index reached a record high this week, climbing 2.00%. In Europe, […]
In the UK, GDP growth surprised on the upside, with the economy expanding 0.4% in June and 0.3% for the second quarter, ahead of expectations but slower than earlier in the year. The labour market cooled slightly but remained stable - unemployment held at 4.7% while wage growth slowed. Retail sales softened and housing sentiment […]
U.S. equities closed the week significantly lower, with major indices recording their steepest declines since the tariff-driven sell-off in early April. The downturn followed the expiration of President Trump’s 90-day moratorium on proposed “reciprocal” tariffs, compounded by the release of a weaker-than-expected July employment report. All three major indexes ended the week in negative territory: […]
The US and Japan announced a broad trade agreement on Tuesday that lowers tariffs on Japanese exports, including autos, from 25% to 15%, while granting tariff-free access for US goods into Japan. As part of the deal, Japan committed to $550 billion in equity, loans, and loan guarantees to support US-bound investment - a component […]
In June, U.S. consumer and producer price data hinted at the early effects of rising tariffs, but overall figures remained modest, suggesting a minimal impact so far. Inflation expectations continued to ease, with the University of Michigan’s year-ahead gauge falling to a five-month low of 4.4%. Retail sales exceeded forecasts, with core sales up 0.5%, […]
Global markets were rattled this week by renewed trade tensions, with President Trump confirming the imposition of 25% tariffs on Japanese and South Korean imports from 1 August. Fourteen other countries - including South Africa - have been warned of similar hikes unless trade concessions are made. While the White House extended its original tariff […]
June saw a robust recovery across global equity markets as geopolitical tensions eased and investors welcomed signs of progress on trade, especially between the U.S. and China. U.S. tech stocks led the charge, helping the S&P 500 and Nasdaq reach fresh record highs. While inflation remains sticky in parts of the developed world, softer economic […]
Eurozone inflation edged up in June, with the headline rate reaching the ECB’s 2.0% target, up from 1.9% in May. Core inflation remained steady at 2.3%, signalling persistent underlying price pressures. Services inflation rose slightly to 3.3% from 3.2%, underscoring ongoing challenges in bringing inflation sustainably to target. U.S. lawmakers made meaningful progress on the […]
U.S. stocks rallied over the week, lifted by a string of positive developments, including easing tensions in the Middle East, dovish signals from several Federal Reserve officials, news of a signed U.S.-China trade deal and indications from U.S. policymakers that further trade deals were nearing completion. The S&P 500 gained 3.4% and the Nasdaq rose […]
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