President Financial News

Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to strengthen protections for strategic domestic industries from China's state-driven excess production capacity. The U.S. Trade Representative's said that many of the tariffs, including a 100% duty on Chinese EVs, 50% on solar cells and 25% on steel, aluminum, EV batteries and key minerals, would go into effect on Sept. 27. The USTR determination, published on Friday but first reviewed by Reuters, showed a 50% duty on Chinese semiconductors, which now include two new categories — polysilicon used in solar panels and silicon wafers — are due to start in 2025.

President Droupadi Murmu and Prime Minister Narendra Modi, seeking their intervention to ensure speedy justice to the trainee doctor of the RG Kar Medical College & Hospital who was found raped and murdered last month. The West Bengal Junior Doctor's Front also raised their safety and security concerns and highlighted the «dire and deplorable circumstances» in the «medical fraternity of the state» in the four-page letter, which was also sent to Vice President Jagdeep Dhankhar and union health minister JP Nadda. Raising the issue of the rape-murder of the trainee doctor, the letter said the «gruesome nature of the crime», the alleged attempts to cover it up and the attendant atmosphere of fear «woke the nation up to demand an impartial investigative process and a speedy, fair and rational trial».

Canada’s largest airline and business leaders are urging the federal government to intervene in labor talks with its pilots in hopes of avoiding a shutdown

An Ohio-based energy company at the center of a $60 million bribery scheme has been ordered by the U.S. Securities and Exchange Commission to pay a $100 million fine

The owner of the only platinum and palladium mines in the U.S. plans to lay off hundreds of employees in Montana due to declining prices for palladium, which is used in catalytic converters

Hedge fund billionaire John Paulson, who made a name for himself by betting against the housing market during the financial crisis and who is today a prominent supporter of former President Donald Trump, said there could be a collapse in the financial markets and a recession if Vice President Kamala Harris' proposed tax plans become a reality.

Top Biden administration officials have discussed the future of artificial intelligence with a group of executives from OpenAI, Nvidia, Microsoft and other companies

The Fitz-Gerald Group principal Keith Fitz-Gerald discusses the machinist union going on strike against Boeing, his market outlook, and the anticipated Fed policy meeting.

Pravin Gordhan, who was a South African government minister for many years after beginning his political career opposing apartheid, has died

Former President Donald Trump plans to deliver remarks next Monday about cryptocurrency and the launch of the company World Liberty Financial, a crypto platform controlled by the Republican nominee’s sons Donald Jr. and Eric

US Presidential Debate, where she was seen getting the edge over Donald Trump. Right after the Presidential Debate was over, Taylor Swift joined the poll party by openly endorsing Kamala Harris, appreciating her and also criticizing Donald Trump and the Republican camp for fake AI campaigns, claiming that Swift was supporting the former US President.

German and Kenyan officials have signed an agreement to promote the recruitment of skilled Kenyan workers who can fill gaps in Germany’s labor market, and to facilitate the repatriation of Kenyans who don’t have the right to stay in Germany

Air Canada could start winding up operations and cancelling flights imminently ahead of Sunday’s strike deadline.

Flight attendants at American Airlines have approved a new contract after years of negotiations

Package delivery company DHL is suing MyPillow, alleging the company synonymous with its founder, chief pitchman and election denier Mike Lindell owes nearly $800,000 for unpaid bills

A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer.  Sign up  to receive future editions, straight to your inbox.

TikTok and parent company ByteDance face a key court hearing on Monday in a legal battle seeking to block a law that could ban the app used by 170 million Americans as soon as Jan. 19. The US Court of Appeals for the District of Columbia will hold oral arguments on the legal challenge, putting the fate of Chinese-owned TikTok in the middle of the final weeks of the 2024 presidential election. Both Republican presidential candidate Donald Trump and Vice President Kamala Harris are active on TikTok seeking to court younger voters.

Subscribe to enjoy similar stories. Applied Materials Inc., the world’s second-largest toolmaker for semiconductor fabrication units, is working with more than a dozen international and domestic suppliers to set up manufacturing in India, said Prabu Raja, president of the semiconductor products group at the California-headquartered company.

international students and the U.S. economy—especially for students from India, who have long faced uncertainty about their post-graduation status in the United States. This proposal should be viewed not just as a policy shift but as a strategic move to retain top global talent. The U.S. has long benefitted from the influx of international students, particularly from India, who excel in high-demand sectors such as technology, finance, and engineering. However, the current visa process is fraught with uncertainty, leaving many graduates in limbo. Trump’s plan could potentially change that narrative, offering a pathway to stability for thousands of students who have invested heavily in their American education. Vice President Kamala Harris, a staunch advocate for international students, has also worked tirelessly to streamline the visa process and support pathways to citizenship. Her initiatives, rooted in her personal understanding as a child of immigrants, aim to create a more inclusive environment where international students can contribute to the American economy and society without the fear of being forced to leave. Harris’s advocacy, coupled with Trump’s proposal, could mark a turning point in how the U.S. approaches immigration and talent retention.

dollar fell to its lowest level this year against the Japanese yen on Friday after media reports reignited the debate about an outsized Federal Reserve rate cut next week. The U.S. currency fell more than 0.8% to 140.645 yen, the lowest since late December, and last traded 0.7% lower at 140.8. The euro, pound and Swiss franc made gains against the dollar.

junior doctors in West Bengal have written to President Droupadi Murmu and Prime Minister Narendra Modi, requesting their intervention in the RG Kar hospital impasse. Copies of the four-page letter written by the West Bengal Junior Doctors' Front were also sent to Vice President Jagdeep Dhankar and Union Health Minister JP Nadda. A post-graduate trainee was raped and murdered in state-run RG Kar Medical College and Hospital on August 9. Junior doctors have been on 'cease work' since then. «We humbly place the issues before your esteemed excellency, as the head of state, so that our unfortunate colleague who has been the victim of the most despicable crime shall receive justice, and so that we, the healthcare professionals under the West Bengal Health department, may be able to discharge our duties to the public without fear and apprehension.