Even before President Trump unveiled his sweeping new tariffs, many Americans were struggling to afford car purchases, putting their loans in growing danger of default. Now hefty tariffs threaten to inflict further pain on U.S. car buyers, which could have negative consequences for auto lenders. “There are nearly unlimited permutations of the knock-on effects,” UBS
Banks in China could face more bad loans, potentially hitting 6.4 per cent of total lending next year, according to a forecast by S&P Global Ratings, as higher US tariffs weigh on an economy that is still struggling to shake off the lingering impact of the Covid-19 pandemic. The warning came in a report on
Declaring it a “Liberation Day” for American workers, President Donald Trump on Wednesday announced sweeping new tariffs that could impact home prices and mortgage rates. “Our country and its taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore,” Trump said in remarks at the White House’s
Andrew Ackerman | Washington Post Lawmakers are taking their first step toward putting up guardrails for cryptocurrencies. But as legislation goes, it’s a relatively modest step – and some former regulators warn that the guardrails have big gaps. The framework, which a House committee will take up on Wednesday, would only apply to stablecoins, a
Bitcoin and crypto prices are braced for a shake-up as traders hold their breath ahead of U.S. president Donald Trump’s “Liberation Day” of global trade tariffs—that’s putting Trump on a collision course with the Federal Reserve. The bitcoin price is trading around $85,000 per bitcoin, down from a Trump inauguration peak of almost $110,000 per
The Department of Health and Human Services (HHS) cut a little-known bureau in its ranks that was trying to recoup more than $1 billion in improper payments dispersed to providers during the COVID-19 pandemic. The Trump administration announced the dismantling of the HHS on March 27. HHS Secretary Robert F. Kennedy Jr. told the public
RFK Jr. to cut 10,000 jobs at US health department The U.S. Department of Health and Human Services announced that it will cut about 10,000 full-time jobs and close half of its regional offices. Reuters Pennsylvania joined a multistate lawsuit against the Trump administration for cutting billions in state health funding. Pennsylvania state officials say
With Donald Trump’s open support for Russia and his turning away from Europe and NATO, the question of the credibility of the American nuclear promise has taken center stage. Unlike during Trump’s first term in office, however, this time Europe has recognized the dramatic nature of the situation and developed ideas to strengthen the British
Shares of Coinbase Global and other firms linked to cryptocurrencies were hammered this quarter, as growing concerns about the US economy weighed on digital assets. Coinbase fell 31 per cent in the worst quarterly performance since FTX collapsed near the end of 2022. Nearly every major crypto-linked stock plunged alongside it, from conglomerate Galaxy Digital
Want to comment on this story? Become a subscriber today. Click here. More than two dozen Michigan school districts face the loss of nearly $42 million in reimbursement for federal pandemic relief funds after the U.S. Education Secretary Linda McMahon rescinded a previously set deadline. Michigan education officials said agencies across the country, including the