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UK’s Rachel Reeves nears moment of truth with tax-heavy budget
By Andy Bruce MANCHESTER, England (Reuters) -"We won’t have to do a budget like this ever again," Britain’s finance minister Rachel Reeves declared a year ago, insisting she had restored stability to the public finances on her first attempt and would not be coming back for more tax rises. When Reeves presents her second annual budget on Wednesday, she is expected to announce another round of hefty tax increases, testing the confidence of the governing Labour Party and drawing scrutiny from an uneasy bond market. It has been a difficult first 18 months in charge of the world’s sixth-biggest economy for Reeves. The former Bank of England economist - the first female chancellor of the exchequer - has staked her political identity on being the antidote to the chaos that roiled British politics in recent years. But weeks of mixed messages from her and Prime Minister Keir Starmer on tax have strained the trust of investors and voters, leaving her credibility - and potentially Starmer’s political survival - in the balance. Only 9% of Britons think Reeves is doing a good job against 61% who do not, according to YouGov. Critics try to mock her as "Rachel from accounts" - invoking a female office worker stereotype - but Reeves says she is not in politics to be popular and cites new public investment in nuclear power and the health service as proof of her influence. "Have we done everything we want to do? Absolutely not, and I’m the first to recognise that," she told the BBC this month. "But we are making progress." CHESS PLAYER HOPES TO TURN THE TABLES A star chess player as a schoolgirl, Reeves hopes to pull off what players call a "swindle": escaping from a losing position with the guile to force a draw or win. That means convincing financial markets that she has a credible plan for the public finances. She must also persuade restive Labour Party colleagues that she has not squandered last year’s sweeping victory and can still deliver better public services, investment and growth. Reeves has championed "securonomics," or the need for governments to prepare for an era of constant shocks. But this month she blamed U.S. President Donald Trump’s trade tariffs and global conflicts for eating up the small fiscal buffer she set herself. A Labour lawmaker, speaking on condition of anonymity, conceded Reeves was a victim of circumstance "but maybe she should have been better prepared." WHAT LIES BEHIND THE "IRON-CLAD" FACADE Colleagues say Reeves is warmer than her public persona as the defender of her "iron-clad" fiscal rules. That image slipped in July when she wept in parliament, prompting speculation about her future. "Most people have had a day at work when they go into the toilets and have a cry, or say to their boss, ’I’m just going home early.’ Unfortunately, my difficult moment was on live television," she told The Times newspaper. The episode symbolised the communications failures in Starmer’s government: Starmer made clear his unqualified backing for Reeves only after a bond selloff. With memories still fresh of the 2022 "mini‑budget" crisis under former Conservative Prime Minister Liz Truss, investors asked whether Labour grasped the risk of a loss of confidence. INVESTORS CRITICISE REEVES, BUT FEAR THE ALTERNATIVE In early November, Reeves seemed to be laying the ground for an income tax rate hike, warning that sticking to an election promise not to raise it would mean deep investment cuts. So it shocked investors when government sources announced an apparent U‑turn: income tax would not go up, raising the prospect instead of multiple smaller tax hikes with unclear revenue gains. Gilts slumped, prompting the sources to pin the reversal on better-than-expected economic forecasts. "She built up some credibility. You saw gilt yields start to react to that, and then basically she lost it," David Zahn, head of European fixed income at Franklin Templeton, which manages $1.5 trillion of assets. "It’s a G7 economy. We can’t keep on doing that," said Nicolas Trindade, portfolio manager at AXA Investment Managers, with 879 billion euros in assets. But investors are worried that any new finance minister might not be as fiscally conservative and her departure could gravely wound Starmer’s government. "The gilt market is not in the mood to tolerate uncertainty," said Lauren Van Biljon, senior FX & rates portfolio manager at Allspring Global Investments, with around $630 billion under management. Still, many investors favour gilts in their portfolios and benchmark 10-year yields remain noticeably beneath the 27-year peak they hit in September. Longer-dated UK bonds have performed better than most G7 counterparts this year but the picture is less flattering if the starting point is Labour’s election of July last year - with only Japanese bonds doing worse since then. WARM WORDS FOR REEVES IN AMERICA, COLD SHOULDERS IN BRITAIN Despite the pressures, Reeves reassured finance and business representatives during her most recent trip to the United States, including at a private meeting of the Institute of International Finance, a global association of major financial institutions, according to a source who was present. Her stock among businesses at home is lower, largely due to last year’s tax hike on employers and the lingering uncertainty. The head of the Confederation of British Industry on Monday accused Reeves of ignoring companies on key policies, a contrast to her pre-election courtship of business. Nervous bond markets pose the most immediate threat, followed by Labour lawmakers who could turn on Reeves if investors take fright over Wednesday’s budget. Starmer knows that he too is bound to her fate, telling the BBC in July that his government was a partnership. "She and I work together, we think together," he said. "We’re in lock-step." AI computing powers are changing the stock market. Investing.com's ProPicks AI includes dozens of winning stock portfolios chosen by our advanced AI. Year to date, 3 out of 4 global portfolios are beating their benchmark indexes, with 98% in the green. Our flagship Tech Titans strategy doubled the S&P 500 within 18 months, including notable winners like Super Micro Computer (+185%) and AppLovin (+157%). Which stock will be the next to soar?
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November 25, 2025 at 6:43 AM
Morning bid: Flying blind on a dovish wing
A look at the day ahead in European and global markets from Ankur Banerjee A risk-on rally spurred by the sudden shift in U.S. rate-cut wagers after dovish comments from policymakers may falter in Europe while currency markets remain wary that Tokyo could intervene to support the yen. Phone-call diplomacy was also in the spotlight. U.S. President Donald Trump touted relations with China as "extremely strong" on Monday following a call with Chinese counterpart Xi Jinping. Trump also told Japanese Prime Minister Sanae Takaichi "call me anytime" in their first phone call since Tokyo’s leader sparked a major diplomatic bust-up with China. Markets though, are laser-focused on U.S. rate developments after Federal Reserve Governor Christopher Waller reiterated the labor market’s weakness could justify a further quarter-point rate cut in December. His comments were the latest to help raise investor expectations of a rate cut next month. Traders are now pricing in an 81% chance of a cut next month versus 42% a week earlier, CME FedWatch showed. That huge swing underscores the challenge the market faces in pricing in near-term rates in the absence of economic data due to the longest U.S. government shutdown that ended on November 14. Despite the sharp rise in rate-cut wagers, the U.S. dollar has remained stable. And so, that leaves the yen languishing near its 10-month lows and perilously close to 160/dollar, with no respite as chatter about intervention from Tokyo officials rages on. In short, the yen vigil is here to stay. A holiday-curtailed week may provide Tokyo with the perfect opportunity to directly engage with some yen buying, traders say, but ultimately it may have limited impact. Meanwhile, shares of Novo Nordisk slumped on Monday after the obesity drugmaker announced its Alzheimer’s trials for an older oral version of its semaglutide drug failed to help slow the progression of the brain-wasting disease. Market reaction may extend into Tuesday unless dip buyers intervene, although analysts noted investors had low expectations for the trial’s success. European futures point to a lower opening as the momentum in Asian equities slows. Perhaps last week’s worries about AI valuations remain on investor minds. Key developments that could influence markets on Tuesday: Germany Q3 GDP data, French consumer confidence data for November, Easyjet earnings The fastest way to find out is with our Fair Value calculator. We use a mix of 17 proven industry valuation models for maximum accuracy. Get the bottom line for NVO plus thousands of other stocks and find your next hidden gem with massive upside. Full access now available at 55% off for Black Friday early birds!
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November 25, 2025 at 6:43 AM
Singapore orders Apple, Google to prevent government spoofing on messaging platforms
SINGAPORE (Reuters) -Singapore’s police have ordered Apple (AAPL.O) and Google (GOOGL.O) to prevent the spoofing of government agencies on their messaging platforms, the home affairs ministry said on Tuesday. The order under the nation’s Online Criminal Harms Act came after the police observed scams on Apple’s iMessage and Google Messages purporting to be from companies such as the local postal service SingPost. In September, the government also threatened to impose fines on Meta Platforms (META.O) if it did not introduce measures like facial recognition to help curb impersonation scams on Facebook, including those involving key government office holders. While government agencies have registered with a local SMS registry so only they can send messages with the "gov.sg" name, this does not currently apply to the iMessage and Google Messages platforms. "Members of the public may assume that messages they receive from accounts claiming to be from ’gov.sg’ on iMessage or Google Messages are legitimate because messages sent through iMessage and Google Messages appear alongside and are not easily distinguishable from SMSes," the police said. Under the order, Google and Apple will need to prevent accounts and group chats from displaying names which spoof "gov.sg" and other Singapore government agencies, or filter such messages out. The home affairs ministry said Apple and Google have committed to complying with the order, and they urged the public to update their mobile apps to ensure that the latest safeguards are in place. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. The fastest way to find out is with our Fair Value calculator. We use a mix of 17 proven industry valuation models for maximum accuracy. Get the bottom line for GOOGL plus thousands of other stocks and find your next hidden gem with massive upside. Full access now available at 55% off for Black Friday early birds!
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November 25, 2025 at 6:40 AM
Australia stocks higher at close of trade; S&P/ASX 200 up 0.14%
Investing.com – Australia stocks were higher after the close on Tuesday, as gains in the Gold, Metals & Mining and Materials sectors led shares higher. At the close in Sydney, the S&P/ASX 200 gained 0.14%. The best performers of the session on the S&P/ASX 200 were DroneShield Ltd (ASX:DRO), which rose 14.61% or 0.26 points to trade at 2.00 at the close. Meanwhile, Ramsay Health Care Ltd (ASX:RHC) added 12.38% or 3.95 points to end at 35.85 and IperionX Limited (ASX:IPX) was up 10.20% or 0.45 points to 4.86 in late trade. The worst performers of the session were Bendigo And Adelaide Bank Ltd (ASX:BEN), which fell 7.27% or 0.80 points to trade at 10.20 at the close. Medibank Private Ltd (ASX:MPL) declined 2.88% or 0.14 points to end at 4.72 and Seek Ltd (ASX:SEK) was down 2.24% or 0.57 points to 24.89. Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 635 to 498 and 351 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 4.91% to 13.10. Gold Futures for February delivery was up 0.18% or 7.65 to $4,177.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.58% or 0.34 to hit $58.58 a barrel, while the February Brent oil contract fell 0.49% or 0.31 to trade at $62.41 a barrel. AUD/USD was unchanged 0.12% to 0.65, while AUD/JPY fell 0.38% to 101.13. The US Dollar Index Futures was up 0.12% at 100.19. Which stock should you buy in your very next trade? AI computing powers are changing the stock market. Investing.com's ProPicks AI includes dozens of winning stock portfolios chosen by our advanced AI. Year to date, 3 out of 4 global portfolios are beating their benchmark indexes, with 98% in the green. Our flagship Tech Titans strategy doubled the S&P 500 within 18 months, including notable winners like Super Micro Computer (+185%) and AppLovin (+157%). Which stock will be the next to soar?
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November 25, 2025 at 6:40 AM
Nigeria faces record hunger amid insurgent attacks, aid cuts
(Reuters) -A surge in militant attacks and instability in northern Nigeria is driving hunger to record levels, the U.N. World Food Programme (WFP) said on Tuesday, warning that nearly 35 million people could go hungry in 2026 as it runs out of resources in December. The projection, based on the latest Cadre Harmonise - an analysis of acute food and nutrition insecurity in the Sahel and West Africa region, is the highest number recorded in Nigeria since monitoring began, WFP said. Violence has escalated in 2025, with attacks by insurgents including al-Qaeda affiliate Jama’at Nusrat al-Islam wal-Muslimin (JNIM), which carried out its first strike in Nigeria last month, and Islamic State West Africa Province (ISWAP). Recent incidents underscore the crisis: ISWAP fighters killed a brigadier-general in the northeast, while armed bandits abducted more than 300 Catholic school students in a mass kidnapping days after storming a public school, killing a deputy head teacher and seizing 25 schoolgirls. “The advance of insurgency presents a serious threat to stability in the north, with consequences reaching beyond Nigeria,” said David Stevenson, WFP Nigeria country director. “Communities are under severe pressure from repeated attacks and economic stress.” Rural farming communities have been hit hardest. Nearly 6 million people lack basic minimum food supplies in Borno, Adamawa and Yobe states, while 15,000 in Borno are projected to face famine-like conditions. Malnutrition rates are highest among children in Borno, Sokoto, Yobe and Zamfara, WFP said. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Almost a million people in the northeast currently rely on WFP aid, but funding shortfalls forced the agency to scale down nutrition programmes in July, affecting more than 300,000 children. In areas where clinics closed, malnutrition worsened from “serious” to “critical” in the third quarter. WFP warned it will run out of funds for emergency food and nutrition aid by December, leaving millions dependent on its support without assistance in 2026. AI computing powers are changing the stock market. Investing.com's ProPicks AI includes dozens of winning stock portfolios chosen by our advanced AI. Year to date, 3 out of 4 global portfolios are beating their benchmark indexes, with 98% in the green. Our flagship Tech Titans strategy doubled the S&P 500 within 18 months, including notable winners like Super Micro Computer (+185%) and AppLovin (+157%). Which stock will be the next to soar?
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November 25, 2025 at 5:46 AM
Australian pension fund Cbus fined over $15 million for death, disability claim delays
(Reuters) -Australia’s Federal Court has ordered superannuation fund Cbus to pay an A$23.5 million ($15.17 million) penalty for serious failures in processing death and disability insurance claims, the country’s corporate regulator said on Tuesday. The penalty was imposed against United Super Pty, the trustee of Cbus, after the fund admitted that systemic faults caused long delays in handling death benefits and total and permanent disability claims, said the Australian Securities and Investments Commission (ASIC). The delays affected more than 7,000 members and claimants, according to ASIC. Australia’s prudential regulator said in February that it would probe Construction and Building Unions Superannuation Fund (Cbus) over possible breaches of the superannuation industry law, with a focus on its expenditure management. The penalty on Tuesday lands on top of about A$32 million in compensation already paid to the estimated 7,402 affected claimants and members under the fund’s remediation programme, and exceeded United Super’s A$18.5 million revenue in fiscal 2024, underscoring the seriousness of the breaches. "Not only was Cbus aware of increased insurance claim volumes, but it was also put on notice by its own customers who were complaining about the long delays they were enduring," ASIC Deputy Chair Sarah Court said. In one case, a widow told ABC radio in June 2023 that she had been waiting 15 months for her late husband’s death benefit. Cbus only opened an investigation and ultimately lodged a breach report with ASIC after she went public about the delays and poor communication. Cbus did not immediately respond to a Reuters request for comment. ($1 = 1.5494 Australian dollars) Which stock should you buy in your very next trade? AI computing powers are changing the stock market. Investing.com's ProPicks AI includes dozens of winning stock portfolios chosen by our advanced AI. Year to date, 3 out of 4 global portfolios are beating their benchmark indexes, with 98% in the green. Our flagship Tech Titans strategy doubled the S&P 500 within 18 months, including notable winners like Super Micro Computer (+185%) and AppLovin (+157%). Which stock will be the next to soar?
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November 25, 2025 at 5:44 AM
Tesla Europe sales slump nearly 50% in Oct; BYD outsells with bigger market share
Investing.com-- Tesla’s European sales nearly halved in October, while Chinese rival BYD outsold the firm and also clinched a greater market share in the region. Tesla Inc (NASDAQ:TSLA) registered 6,964 new cars in the European Union, Euro free trade region, and the UK, in October, down 48.5% year-on-year, data from the European Automobile Manufacturers Association (ACEA) showed on Tuesday. Tesla’s market share in the region slumped to 0.6% in October from 1.3% a year earlier. In contrast, Chinese EV maker BYD Co Ltd(HK:1211) sold 17,470 vehicles in the region in October, up 206.8% year-on-year. The firm also gained a greater market share, at 1.6%. Overall car sales in October grew 4.9% to 1.09 million units, with hybrid electric vehicles remaining the biggest portion of the market. BYD has an edge over Tesla in that it also sells the popular class of vehicles, in addition to its battery EV offerings. Hybrid EV sales grew 7.5% in October to 373,171 units. Tesla’s sales in Europe have steadily fallen so far in 2025, with Tuesday’s data also indicating a weak start to the fourth quarter. Heightened competition, along with continued objections over CEO Elon Musk’s political affiliations chipped away at sales this year. Tesla’s recent overhaul of its lineup, which includes new low-cost versions of its Model Y and Model 3, also did little to stimulate demand. The company is also facing sales headwinds in other major markets, especially China. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. BYD, on the other hand has rapidly increased its international expansion efforts, with sales to Europe continuing despite the bloc imposing steep import taxes on Chinese EVs in 2024. But BYD somewhat sidestepped said tariffs with its plug-in hybrid offerings. The fastest way to find out is with our Fair Value calculator. We use a mix of 17 proven industry valuation models for maximum accuracy. Get the bottom line for 1211 plus thousands of other stocks and find your next hidden gem with massive upside. Full access now available at 55% off for Black Friday early birds!
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November 25, 2025 at 5:43 AM
European car sales rise 4.9% in October, ACEA says
By Marleen Kaesebier (Reuters) -New car sales in Europe rose 4.9% in October as electric cars outpaced petrol and diesel registrations, European Automobile Manufacturers’ Association data showed on Tuesday. WHY IT’S IMPORTANT The European car industry has taken a series of hits this year including U.S. President Donald Trump’s trade tariffs, a slowdown in the Chinese market, and a slower-than-expected transition to electric vehicles. Recently, concerns about a potential chip supply chain crisis surrounding Dutch chipmaker Nexperia had also added fuel to the fire. Meanwhile, Chinese electric car exports to Europe are increasing. BY THE NUMBERS Sales in the European Union, Britain and the European Free Trade Association rose to 1.092 million cars in October as its largest markets including Germany and Britain added more new cars than last year, ACEA data showed. Registrations at Volkswagen, Stellantis and Renault rose year-on-year by 6.5%, 4.6% and 10.6%, respectively. Despite Stellantis’ registrations being down 4.7% year-to-date compared to the same period in 2024. Tesla’s sales meanwhile dropped 48.5% from a year ago as BYD’s sales jumped 206.8%, now holding 1.6% of the market share from 0.5% in October 2024. Registrations of Chinese-owned SAIC Motor also jumped 35.9% from last year. Total EU car sales rose 5.8%. Registrations of battery electric, plug-in hybrid and hybrid electric cars were up 38.6%, 43.2% and 9.4%, respectively, to account collectively for about 63.9% of the bloc’s registrations, up from 55.4% in October 2024. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. All major markets saw drops in their petrol and diesel Overall sales rose 7.8% in Germany, 0.5% in the UK, 15.9% in Spain, 2.9% in France and fell 0.5% in Italy. QUOTE "The battery-electric car market share reached 16.4% year to date, yet it is still below the pace needed at this stage of the transition," it added. ProPicks AI evaluates STLAM alongside thousands of other companies every month using 100+ financial metrics. Using powerful AI to generate exciting stock ideas, it looks beyond popularity to assess fundamentals, momentum, and valuation. The AI has no bias—it simply identifies which stocks offer the best risk-reward based on current data with notable past winners that include Super Micro Computer (+185%) and AppLovin (+157%). Want to know if STLAM is currently featured in any ProPicks AI strategies, or if there are better opportunities in the same space?
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November 25, 2025 at 5:43 AM
Trump’s trade war with China in 2025
By Liz Lee and Shi Bu BEIJING (Reuters) -U.S. President Donald Trump has targeted top economic rival China with a cascade of tariffs on imports worth billions of dollars as he tries to narrow a trade deficit, bring home lost manufacturing and cripple the fentanyl trade. Here are key events this year in the U.S.-China trade war, in reverse chronological order: November 24 - Chinese President Xi Jinping and his U.S. counterpart hold a surprise phone call, weeks after they met in South Korea late October. Xi tells Trump their countries should keep up momentum in ties and "lengthen the list of cooperation and shorten the list of problems." Trump says they also discussed fentanyl, soybeans and other farm products but does not elaborate. "We have done a good, and very important, deal for our Great Farmers - and it will only get better," Trump writes on Truth Social. November 11 - China says it will continue to broaden access and investment opportunities to U.S. companies, particularly in the services sector. November 10 - China pauses for a year port fees levied on U.S.-linked vessels, as well as sanctions on U.S. affiliates of South Korean shipbuilder Hanwha Ocean, after Washington suspended punitive measures resulting from its Section 301 investigations into China’s maritime, logistics, and shipbuilding sectors. China adjusts its drug-related precursor chemicals catalogue, and will require export licences for certain chemicals to the U.S., Canada and Mexico. The FBI director made a visit to China to discuss fentanyl and law enforcement issues, according to sources. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. November 9 - China suspends a ban on gallium, germanium and antimony exports to the U.S., although those metals remain under a dual-use export control list requiring shippers to obtain licences from Beijing. November 7 - China suspends export control measures it imposed on October 9, including expanded curbs on some rare earths materials and equipment, lithium battery materials and super-hard materials. Beijing has also begun forming a new rare earth licensing regime, possibly speeding up shipments, industry insiders say. China says it will restore soybean import licences for three U.S. firms and lift the suspension on U.S. log imports starting November 10. November 6 - China begins modest purchases of U.S. farm products, including two cargoes of wheat and a sorghum shipment. China’s COFCO holds a soybean procurement signing ceremony, an agriculture business association says, without providing details. November 5 - Beijing suspends retaliatory tariffs on U.S. imports from November 10, including farm goods duties of up to 15%, but keeps levies of 10% countering Trump’s "Liberation Day" tariffs. Imports of U.S. soybeans still face a tariff of 13%, but China will drop curbs on some U.S. optical fibre imports, and ease measures on U.S. entities. October 30 - United States and China strike new trade truce after talks in South Korea between Trump and Xi. Trump agrees to trim tariffs in exchange for Beijing cracking down on illicit fentanyl trade, resuming U.S. soybean purchases and pausing controls on exports of rare earths. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Beijing says the United States also pledged a year’s delay in plans to bar Chinese firms from its technology. October 25-26 - Malaysia talks yield trade deal framework for both nations’ leaders to decide on after Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer meet Chinese Vice Premier He Lifeng and top trade negotiator Li Chenggang. October 17 - U.S. State Department calls Chinese sanctions on Hanwha Ocean "coercion", undermining ties between Washington and Seoul. October 15-16 - Greer and Bessent chide China’s expanded rare earth export controls as threat to global supply chains. Bessent vows to seek tighter control of strategic sectors to counter China. Apple CEO Tim Cook pledges China investment boost. October 14 - Both nations begin collecting additional port fees from each others’ vessels, but China exempts ships it built. It sanctions five U.S.-linked units of Hanwha Ocean as threats to its security and sovereignty. October 12-13 - China calls new U.S. tariffs hypocritical, but Bessent says plans for Trump-Xi meet remain on track. October 10 - Trump unveils additional levies of 100% on imports from China, and new export controls on "any and all critical software", from November 1, while threatening export controls on Boeing plane parts in response to China’s limits on rare earth exports. There is no reason to meet Xi, Trump says, but does not cancel plans. China launches antitrust investigation of U.S. chip maker Qualcomm over the purchase of Israeli chip designer Autotalks. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. China targets U.S.-linked vessels with port fees from October 14, in response to similar U.S. fees on China-linked ships. October 9 - China widens export controls on rare earths from November 8, to cover five more medium to heavy elements and beefs up scrutiny of semiconductor users, tightening its grip and dominance on critical minerals. United States plans to ban Chinese airlines from flying over Russia on U.S. routes, as being disadvantageous to U.S. carriers. October 1 - Soybeans will be major topic for Xi meet, Trump says, calling China’s sharply reduced U.S. purchases of the oilseed a negotiation tactic. September 30 - Greer says tariffs of about 55% on Chinese imports are a "good" status quo, but the United States would like freer trade. September 24 - Bessent says chemicals, aircraft engines and parts offer U.S. key leverage in China talks. September 21 - Visiting U.S. lawmakers tell Premier Li Qiang that China, United States need to step up engagement. September 19 - Trump and Xi hold telephone call, during which Trump says they made progress on a TikTok pact and agreed to meet face-to-face to discuss trade, illicit drugs and the Ukraine war. China welcomes commercial talks on TikTok. September 15 - Both sides clinch framework deal to switch TikTok to U.S.-controlled ownership as U.S. vows to refrain from more tariffs on Chinese goods over Russian oil imports unless European levies come first. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. September 14 - Fourth round of talks, in Madrid, led by Bessent and China’s He discuss trade and TikTok divestiture deadline of September 17. August 11 - Both nations extend tariff truce for further 90 days. August 10 - With trade truce set to expire on August 12, Trump urges China to quadruple U.S. soybean purchases. August 8 - United States reverses April ban to start issuing Nvidia licences for exports of advanced AI H20 chips to China, as part of talks on rare earths. July 28-29 - U.S. and Chinese officials agree to seek extension of 90-day tariff truce after two days of talks in Stockholm, though they made no major breakthroughs. June 27 - Bessent says both sides resolve issues on rare earth minerals and magnets destined for the United States. June 9-12 - Framework deal reached in London round of talks, while some Chinese rare earths magnet producers begin to receive export licences. Trump says a trade truce is back on track. June 5 - Xi and Trump hold an hour-long telephone call. May 31 - Trump says China violated Geneva deal to mutually roll back tariffs and ease curbs on critical minerals exports. China rejects this, accusing the U.S. of "discriminatory restrictive" curbs instead. May 28-29 - United States threatens to revoke visas of Chinese students, while ordering some companies to stop shipping some goods to China. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. May 10-12 - First round of trade talks in Geneva agrees to 90-day pause on tariffs, cutting to 30% U.S. tariffs on Chinese goods from 145%, while China drops tariffs to 10% from 125%. China to also scrap non-tariff measures adopted since April 2. April 15 - Chipmaker Nvidia says U.S. officials told it China sales of the H20 chip would need an export licence. April 11 - China also raises levies to 125% on U.S. imports, calls Trump’s tariff strategy "a joke" and signals it will ignore any further U.S. "numbers game with tariffs". April 9 - China matches levies at 84% on U.S. imports, hits 12 U.S. companies with controls barring exports of dual-use items, and designates six more as "unreliable entities". The United States further hikes tariffs to 125% on Chinese imports, from 84%. China warns citizens against U.S. travel. April 8 - United States raises tariffs to 84% on all Chinese imports, from 34%. April 4 - China sets retaliatory tariffs of 34% for all U.S. imports from April 10 and export curbs on some rare earths, as well as limits on about 30 U.S. bodies in defence-related fields. April 2 - Trump unveils a sweeping baseline 10% "Liberation Day" tariffs on all imports and even higher duties on goods from some countries, with a levy of 34% on China, from April 9. The U.S. scraps duty-free access from May 2 for low-value shipments from China and Hong Kong. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. March 3-4 - The United States doubles to 20% fentanyl-related tariffs on all Chinese imports from March 4. China hits back with retaliatory levies of 10% to 15% on U.S. agriculture, hitting $21 billion in exports, clamping export and investment curbs on 25 U.S. firms February 4 - China responds with measures targeting U.S. businesses, as well as 15% levies on U.S. coal and LNG and 10% for crude oil and some autos from February 10. February 1 - Trump imposes 10% punitive duty on goods from China along with 25% on Mexico and Canada, to press for curbs on fentanyl and illegal immigrants flowing into the United States. The fastest way to find out is with our Fair Value calculator. We use a mix of 17 proven industry valuation models for maximum accuracy. Get the bottom line for BA plus thousands of other stocks and find your next hidden gem with massive upside. Full access now available at 55% off for Black Friday early birds!
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November 25, 2025 at 5:43 AM
Fed Chair Powell’s allies to open path for Dec rate cut- WSJ’s Timiraos
Investing.com-- Allies of Federal Reserve Chair Jerome Powell have laid the groundwork for him to push through an interest rate cut during the central bank’s December 9-10 meeting, the Wall Street Journal’s Nick Timiraos reported on Monday. But the decision is likely to be contested in an increasingly divided rate-setting committee, especially as a lack of clear data points for October leave the Fed flying blind into its final meeting for the year. Powell is likely to weigh two options, Timiraos said– one involving an immediate rate cut before adopting a more cautious stance for further decisions, while the alternative is to hold rates steady and reassess in January. Both options are likely to draw dissent from some committee members, although markets began increasingly pricing in the probability of a Fed rate cut next month. This came especially after New York Fed President John Williams said he supported a cut in December. Williams said the Fed had reason to cut rates now and prevent further weakness in the labor market. A December rate cut is also in line with the agenda Powell set in August, with the Fed now having cut rates in two consecutive meetings. But other Fed members have struck a far more cautious stance on a December cut, arguing that inflation risks still persist, while the labor market is still resilient enough to not warrant immediate easing. Officials have also flagged caution over a lack of economic readings for October, due to a long-running government shutdown. Inflation and employment data for October was set to be the last clear economic signals the Fed would receive heading into December. Markets are pricing in a 79.7% chance the Fed will cut rates by 25 basis points during its December 9-10 meeting, up sharply from a 49.8% chance seen last week, CME Fedwatch showed. Which stock should you buy in your very next trade? AI computing powers are changing the stock market. Investing.com's ProPicks AI includes dozens of winning stock portfolios chosen by our advanced AI. Year to date, 3 out of 4 global portfolios are beating their benchmark indexes, with 98% in the green. Our flagship Tech Titans strategy doubled the S&P 500 within 18 months, including notable winners like Super Micro Computer (+185%) and AppLovin (+157%). Which stock will be the next to soar?
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November 25, 2025 at 3:53 AM
Asian stocks edge higher as US rate cut hopes rise
By Scott Murdoch SYDNEY (Reuters) -Asian share markets rallied on Tuesday as hopes grew the Federal Reserve will deliver a December interest rate cut, while investors piled into global technology stocks shrugging off concerns the sector was becoming overheated. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1% led mainly by tech stocks, recouping some of the losses from last week when it fell 4%. The index is on course for a 3.8% drop in the month, its first monthly decline since March. Japan’s Nikkei was up 0.8% in early trading on Tuesday after returning from a holiday on Monday. The index slid 3.5% last week as a bout of risk-off sentiment gripped markets. "Nice to see widespread cross-asset class green on the screens this morning as volatility eases a notch and the Fed put comes into play again," Charlie Aitken, Regal Partners’ investment director, said in a note. "This is classic bull equity market behaviour. A short, sharp pullback in stocks and sectors that have led the market, a flush out of the over-leveraged at the bottom, and a recovery starts, led by the most beaten-up growth stocks and cyclicals." The prospect of a U.S. rate cut is rising after Fed Governor Christopher Waller said available data indicated that the U.S. job market remains weak enough to warrant another quarter-point cut to interest rates. Markets are pricing in an 85.1% chance of a cut of 25 basis points at the December meeting, according to CME’s FedWatch Tool, up from 42.4% a week ago. The U.S central bank will meet on December 9 and 10. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. San Francisco Federal Reserve Bank President Mary Daly told the Wall Street Journal she supported lowering interest rates at the central bank’s meeting next month as she sees a deterioration in the job market. In the Asian trading session, the yield on benchmark 10-year Treasury notes was flat at 4.0344%. The two-year yield, which rises with traders’ expectations of a higher Fed funds rate, was steady at 3.4872% in Asian hours after dropping 2.5 basis points in the previous session. The sudden shift in rate cut wagers have weighed slightly on the dollar. The euro last bought $1.1522 after eking out small gains overnight. The dollar index was at 100.2 in early trading. Despite the dollar’s slight weakness this week, the Japanese yen has remained fragile, trading at 156.95 per dollar in early Asian hours, not far from the 10-month low of 157.90 it touched last week. An ongoing row between Tokyo and Beijing over a comment by Japan’s Prime Minister Sanae Takaichi earlier in November that a Chinese attack on Taiwan could trigger a Japanese military response remains in focus. Takaichi and U.S. President Donald Trump spoke on Tuesday, following his call on Monday with Chinese President Xi Jinping. She said Trump explained U.S.-China relations to her. Trump said on Monday he would travel to Beijing in April at the invitation of the Chinese government. The proposed meeting was interpreted as a further sign diplomatic and political relations between the two countries are improving following their trade war truce. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. On Wall Street, the Dow Jones Industrial Average rose 0.44%, the S&P 500 was 1.55% higher and the Nasdaq Composite rose 2.69% fuelled by large gains in tech stocks. The session marked the Nasdaq’s biggest daily percentage rise since May 12 and the best two-day rise since November 2024. U.S stock and bond markets will be closed on Thursday for the Thanksgiving holiday and will trade for half a day on Friday. In commodities, Brent crude futures were down 0.2% at $63.16 a barrel, while U.S. crude futures were also off 0.2% at $58.70 per barrel. Spot gold was 0.2% lower at $4,130 an ounce. Which stock should you buy in your very next trade? AI computing powers are changing the stock market. Investing.com's ProPicks AI includes dozens of winning stock portfolios chosen by our advanced AI. Year to date, 3 out of 4 global portfolios are beating their benchmark indexes, with 98% in the green. Our flagship Tech Titans strategy doubled the S&P 500 within 18 months, including notable winners like Super Micro Computer (+185%) and AppLovin (+157%). Which stock will be the next to soar?
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November 25, 2025 at 3:53 AM