Sen. Roger Wicker, R-Miss., chairman of the Senate Armed Services Committee, speaks in March 2025 at a committee hearing. (Eric Kayne/Stars and Stripes) WASHINGTON — The Navy is proposing a $16 billion cut to shipbuilding in 2026 and does not intend to move forward with plans to purchase at least six new warships, the top
How fentanyl reaches the US and the role of Trump’s China tariffs US President Donald Trump has imposed new tariffs on Chinese goods, citing Beijing’s failure to stop the export of chemicals used to produce fentanyl. unbranded – Newsworthy U.S. stocks opened barely higher as investors continue to wait for news from the second day
ABILENE, TX – Policy uncertainty surrounding American support for renewables may deter investment in … More the country for these technologies. (Photo by Robert Nickelsberg/Getty Images) Getty Images The Trump Administration’s energy policies are shifting the investment priorities in American renewable energy, and not to its benefit. But the jury is still out whether the
Driven by strong demand for wealth management and insurance solutions in Asia, OCBC posted record financial results for the third year in a row. The Singapore-based bank reported a net profit of S$7.6 billion (US$5.9 billion) for its 2024 financial year, and total income rose by 7 per cent to S$14.5 billion. Within the year,
Urging India to pave the way for other developing countries on the Investment Facilitation for Development (IFD) agreement, World Trade Organization (WTO) Director General Ngozi Okonjo-Iweala has said that India needs to support the China-led initiative, which is already backed by 90 out of 126 developing nations. Iweala added that WTO members should also listen
In 2017, the Chinese government was the largest cryptocurrency market in the world. It is estimated that as many as 80 percent of all Bitcoin transactions were taking place in Chinese currency, the yuan (also known as the renminbi), at that time. Cryptocurrency exchanges in China were busy and proliferating. The availability of cheap electricity,
Former Goldman investment banker Grace Xin Ge has joined the board of directors at Yum China. Yum China Grace Xin Ge, a former managing director in the investment banking division of Goldman Sachs, has joined the board of directors of Yum China, the operator of KFC and Pizza Hut chains in China. Ge, 48, is
A launch event for BYD’s Dolphin Surf electric vehicle in Paris on May 21. Such low-priced models have led investors to fear a deeper price war in the industry. The Dolphin Surf will retail for €22,990 ($26,100). Cyril Marcilhacy/Bloomberg Wang Chuanfu, the billionaire cofounder of Chinese electric vehicle giant BYD, saw his wealth drop by
The cryptocurrency industry has continued to advance, with bitcoin prices hitting a record high earlier this week. Stablecoins have come under the spotlight as regulators in Hong Kong and the US push for legislation for the popular tokens. Here we answer five common questions about stablecoins. What are stablecoins and how are they used? Stablecoins
Los Angeles-based investment firm Transom Capital Group agreed to acquire SigmaTron International Inc. for $18.5 million. An affiliate of Transom will acquire all outstanding shares of the company’s common stock for $3.02 per share in cash, representing a total enterprise value of approximately $83 million. The purchase price represents a premium of 134% over the