Governments and traders spent Monday assessing the energy fallout from the expanding war involving Iran, as disruption around the Strait of Hormuz renewed fears over one of the world’s most important oil corridors. Since the conflict began on Feb. 28, tanker traffic through the strait has largely stalled, raising concern that a prolonged interruption could restrict supply well beyond the…
Despite major policy initiatives, U.S. manufacturing has yet to show a clear resurgence. Under President Joe Biden, federal subsidies and tax credits aimed at chipmakers and electric vehicle producers led to a brief boom. Between April 2021 and October 2024, factory construction surged as incentives encouraged domestic investment, tripling capital spending in some sectors. This wave of optimism, however, has…
Broader Deduction Aims to Ease Tax Burden in High-Tax States The new tax-and-spending-cut legislation brings a significant change for federal income tax filers: an increased cap on the state and local tax (SALT) deduction. This adjustment, raising the previous $10,000 limit to $40,000 for the 2025 tax year, represents a notable shift from the rules established under the 2017 Tax…
Ferrero Expands Into Breakfast With Bold Acquisition Italian confectionery giant Ferrero is making another major push into the North American food market, announcing a $ 3.1 billion deal to acquire WK Kellogg Co., the iconic cereal producer known for Froot Loops, Frosted Flakes, and Corn Flakes. The agreement, revealed on July 10, 2025, includes a cash offer of $23 per share,…
Seven Tariff Letters to Be Sent as August 1 Deadline Looms President Donald Trump has intensified his trade offensive by announcing that at least seven new tariff letters will be delivered to U.S. trade partners on Wednesday, warning that a strict deadline of August 1 will not be extended. This move is part of a broader strategy aimed at pressuring…
President Donald Trump has announced that starting August 1, the United States will impose 25% tariffs on a wide range of imports from Japan, South Korea, and 12 other countries. The decision was published through formal letters addressed to each country’s leadership and posted on Trump’s Truth Social platform. According to the documents, the tariffs aim to correct trade imbalances…
Australian airline confirms third-party platform was compromised; investigation underway. Qantas Airways has confirmed that a cyberattack on a third-party customer service platform has exposed the personal data of up to six million customers, in what could be one of the most significant data breaches in the country’s aviation sector. In a statement released Wednesday, the airline said the breach was…
