U.S. employers added 64,000 jobs in November, after payrolls fell by 105,000 in October, the government reported in releases that arrived late because a 43-day federal government shutdown delayed key labor-market data. The unemployment rate rose to 4.6%, the highest since 2021, up from 4.4% in September; no October unemployment rate was published because the shutdown disrupted the household survey…
Markets react sharply to escalating Middle East conflict, with fears of wider disruption in global energy supplies. Oil prices surged on Friday in one of the biggest intraday jumps in years, as investors reacted to Israel’s military strike on Iran, raising concerns over a potential regional war and major energy supply disruptions. Brent crude, the global oil benchmark, climbed nearly…
China’s dominance over critical minerals, from rare earth elements to tungsten and gallium, has become a pivotal bargaining chip in its trade dealings with the United States and other major economies. State support dating back to Deng Xiaoping’s 1992 declaration that “the Middle East has oil, China has rare earths” laid the groundwork for an industrial base that now processes…
A Temporary Agreement After months of rising economic tensions, the United States and China have announced a new trade agreement — again. Following the breakdown of prior negotiations, representatives from both nations met in London with the aim of reaffirming commitments made during the May Geneva summit. On Tuesday night, both Chinese and American officials confirmed that a framework had…
A second round of high-stakes negotiations between the United States and China entered its second day at London’s Lancaster House on Tuesday, providing the first real test of whether last month’s fragile tariff truce can grow into a broader economic détente. Officials from both capitals say genuine progress is possible, but they admit the road to a deal is littered…
Hedge Funds Anticipate Windfall A high-stakes gamble made by hedge funds over a decade ago could finally pay off, as former President Donald Trump pushes to privatize mortgage giants Fannie Mae and Freddie Mac. The two companies, which have been under government conservatorship since the 2008 financial crisis, are now poised to return to the public markets. Trump’s proposed spin-off…
For most of the past year Donald Trump and Elon Musk have served as complementary megaphones for Republican priorities, but that partnership shattered this week in a spectacular online slug-fest. It began on Tuesday when Musk denounced the president’s 1 200-page tax-cut-and-border-security package as a “disgusting abomination” that would pile “trillions more on the backs of our kids.” Within hours…
