Scott Bessent is poised to lead the Trump administration’s economic policy
Scott Bessent, founder and CEO of Key Square Group LP, has been tapped by President-elect Donald Trump for the crucial role of Treasury secretary. The news has already sparked optimism in financial markets, with stock futures rising and Treasury yields…
Zoom shares fall despite strong quarterly results and optimistic outlook
Eric Yuan, founder and CEO of Zoom Communications Inc., spoke about the company’s ongoing transformation at the annual Concordia Summit held in New York on September 25, 2024. The video conferencing giant, formerly known as Zoom Video Communications, reported solid…
Trump announces new tariffs on Chinese goods, worsening trade tensions
US-China economic relations are facing new uncertainties after President-elect Donald Trump announced plans to impose an additional 10% tariff on all Chinese imports. The announcement, made on its social media platform Truth Social, signals a significant escalation in trade tensions…
Trump picks Kevin Hassett to head National Economic Council, rounding out key economic team
President-elect Donald Trump has nominated Kevin Hassett to lead the National Economic Council (NEC), placing the veteran economist at the forefront of the administration’s decision-making on trade, taxes and deregulation. The announcement, made by Trump on his social media platform…
Databricks raises billions in funding, delays IPO amid AI boom
Databricks, one of the world’s most valuable private technology companies, is raising billions of dollars in new funding as it chooses to delay its long-awaited public offering, sources familiar with the matter told CNBC. The San Francisco-based company is reportedly…
Ferrari’s unique position protects it from potential tariff problems in the automotive sector
As President-elect Donald Trump renews his calls for high tariffs on imports from China, Canada and Mexico, the global auto industry braces for potential supply chain disruptions and rising costs. However, Ferrari, the iconic Italian luxury automaker, appears uniquely positioned…
Scott Bessent is poised to become Treasury secretary under the Trump administration
President-elect Donald Trump announced Friday his plan to nominate Scott Bessent, founder and CEO of Key Square Group LP, as Treasury secretary. The move places a seasoned hedge fund executive and Trump ally in a key role within the new…
The Arnault family is targeting Paris FC with long-term ambitions
The Arnault family, renowned for owning the luxury conglomerate LVMH and for its position among the world’s richest families, is seeking to consolidate majority ownership of Paris FC, a modest soccer club in France’s second division. However, any aspiration for…
Trump and Powell may face new tensions over economic policy in 2025
As President-elect Donald Trump prepares to return to the White House in January, a potential clash with Federal Reserve Chairman Jerome Powell looms on the horizon, largely dependent on evolving economic conditions. If inflation rises and the economy overheats, the…
Trump picks Robert F. Kennedy Jr. to lead HHS, raising public health and industry concerns
President-elect Donald Trump announced Robert F. Kennedy Jr., a longtime vaccine skeptic and former independent presidential candidate, as his nominee to head the Department of Health and Human Services (HHS). The decision, revealed Thursday, sparked widespread apprehension in the public…
Sean Duffy Selected to Be Transportation Secretary in Next Trump Administration
Former congressman and Fox Business host Sean Duffy has been announced as President-elect Donald Trump’s nominee for secretary of transportation. The announcement, made Monday, marks the second time Trump has selected a Fox News personality for a Cabinet position, following…
The Federal Reserve faces new challenges with Trump’s presidency
In a recent press conference following a meeting of the Federal Open Market Committee, Federal Reserve Chair Jerome Powell answered a series of questions from reporters asking for his views on newly elected President Donald Trump. While Powell has refrained…