Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
Profits at the world's biggest airlines will dip this year as fuel and labor costs and interest rates all rise, according to the industry's trade body.
The International Air Transport Association (IATA) has cut its profit forecast for 2018 by 12 percent to $33.8 billion from its December estimate of $38.4 billion.
This marks a dip from 2017, when airline profits reached a record $38.0 billion. At its annual general meeting Monday, IATA noted that the 2017 total had been inflated by one-off tax credits.
Airlines' fuel costs this year are forecast to rise by nearly 30 percent as the price of a barrel of oil ticks higher. IATA modeled its forecast using a crude oil price of $70 a barrel 2018. That matches J.P. Morgan's January price forecast.
North American airlines will take a 44 percent share of global profit, equating to $15 billion, in 2018, IATA said. That number represents a sharp fall from the $18.4 billion posted in 2017.
Following the release, IATA's director general and CEO, Alexandre de Juniac, told reporters in Sydney that rising labor costs and trade tensions could also negatively affect airlines. De Juniac said airlines could be hit by the effects of "political forces pushing a protectionist agenda."
Despite the reduction in margins, he remained upbeat, noting that, on average, the airlines' return on invested capital will top the cost of capital for a fourth consecutive year.
"At long last, normal profits are becoming normal for airlines," he said.
IATA claimed that the 2018 average return airfare, before surcharges and tax, is expected to be $380, 59 percent below 1998 levels after adjusting for inflation.
The industry body also said it expected 1,900 new commercial aircraft to be delivered to airlines in 2018.