Section 899 of Donald Trump’s tax-cut and spending bill now before the U.S. Senate includes a provision that allows the American government to slap additional taxes on foreign investments made by companies and investors from countries deemed to have punitive tax provisions on U.S. investments.
Although the European Central Bank (ECB) has lowered its interest rates, the cost of a mortgage is likely to continue rising throughout the 20-country Eurozone until at least 2030, the bank has warned.
The Trump administration has banned the sale of “electronic design automation” services (EDA) by U.S.-based firms to China.
Auto companies around the world face an imminent shortage of the rare earth minerals essential to making everything from anti-lock braking sensors to windshield wiper motors, executives have warned the Trump administration, Reuters reported.
At its 31 May meeting, the OPEC+ oil cartel held to its previous commitment to increase oil production by 411,000 barrels per day in July.
With a national debt more than twice the size of its economy, Japan is faced with rethinking its decades-long practice of using public money to affect social policy and keep the economy afloat.
Israel has killed at least 54,510 Palestinians and wounded 124,901 since the genocide started in October 2023. There are at least 11,000 people missing.
Karol Nawrocki, the independent candidate for president in Poland who was backed by the “right-wing” Law and Justice (PiS) party, was declared the winner in the country’s election after securing 50.89 percent of the vote.
Donald Trump and Jerome Powell, chair of the U.S. Federal Reserve, met for about 30 minutes on 29 May at Trump’s invitation, the White House press office said.
Thanks largely to the years-long tech boom and roaring stock market, the U.S. now has more than a third of the world’s millionaires and billionaires, according to a new report by Henley & Partners and New World Wealth, a South African research firm tracking the world’s financial riches.