Reuters Financial News

Here's a look at some of the new tariff regime's key features, as detailed in Trump's executive order.

Beginning April 3, the US would levy a 25% tariff on fully assembled cars from India. By May 3, similar tariffs were expected on auto parts, raising concerns in India’s auto sector, which is one of the country’s largest exporters to the US. Announced during the “Make America Wealthy Again” event, the tariffs were part of Trump’s broader "Fair and Reciprocal Plan," under which the US would impose tariffs equivalent to those levied by other nations on US goods. On March 26, Trump officially announced the imposition of 25% tariffs on foreign-made cars and auto parts. These tariffs were set to go into effect on April 2, targeting a critical sector that includes exports of fully assembled vehicles and auto components. The impact of these tariffs is particularly concerning for India.

Factory orders rose 0.6% after an upwardly revised 1.8% rebound in January, the Commerce Department's Census Bureau said on Wednesday. Economists polled by Reuters had forecast factory orders would climb 0.5% after a previously reported 1.7% advance in January. Factory orders gained 1.5% on a year-on-year basis in February. Manufacturing, which accounts for 10.2% of the economy, could be crippled by President Donald Trump's barrage of tariffs since returning to the White House in January. Trump promised to announce global reciprocal tariffs on Wednesday, which he has dubbed «Liberation Day.» He sees tariffs as a tool to raise revenue to offset his promised tax cuts and to revive a long-declining U.S. industrial base. Economists disagree and view the import duties as harmful. An Institute for Supply Management report on Tuesday showed its manufacturing PMI slipped back into contraction territory in March after two straight months of expansion, with businesses overwhelmingly expressing concerns about tariffs. Domestic manufacturers rely heavily on imported raw materials. The import taxes are expected to increase production costs, which are passed on to buyers of the finished products. Companies could also lay off workers to protect profit margins. Commercial aircraft orders slipped 5.0%. Orders for motor vehicles, parts and trailers increased 1.9%. Transportation equipment orders advanced 1.5%. Orders for computers and electronic products were unchanged, while those for electrical equipment, appliances and components rebounded 1.9%.

BDL Capital Management considers the price Prosus offered for Just Eat Takeaway.com to be unfair to minority shareholders, the Paris-based asset manager said in a report on Tuesday. In late February, the Dutch technology investor agreed to buy Just Eat Takeaway for 20.3 euros per share to create a "European tech champion" of food delivery. The price should be 56.1 euros per share based on BDL's fair value calculation, it said in the report published on its website. BDL holds 2.04% in Just Eat Takeaway, according to LSEG data. This price was calculated by analysing enterprise value-to-gross transaction value (EV/GTV) and EV-to-EBITDA multiples in past Just Eat transactions, other transactions in the sector and for listed peers, BDL said.

Elon Musk who is now working in the US Justice Department previously bragged about hacking and distributing pirated software, according to archived copies of his former websites reviewed by Reuters. Christopher Stanley, a 33-year-old engineer who has worked at both Musk's social media company X and space-launch company SpaceX, is a senior advisor in the Deputy Attorney General's office, according to a former Justice Department official and a staff directory listing reviewed by Reuters. Stanley was assigned there while working for Musk's Department of Government Efficiency that President Donald Trump set up to slash the federal bureaucracy. Musk has said no «organization has been more transparent» than DOGE, but there's been little public information on the responsibilities and background of its staff.

Lawmakers have been scrutinizing the company since a January 2024 mid-air emergency involving a new 737 MAX 9 that was missing four key bolts raised fresh questions about Boeing's quality and safety culture, as well as regulatory oversight. «New leadership at Boeing will get a chance to tell Congress how they are implementing new safety standards and creating a stronger safety culture,» said Senator Maria Cantwell, the top Democrat on the committee. Ortberg will tell senators Boeing made «serious missteps» in recent years but has since made «sweeping changes», according to a copy of prepared testimony seen by Reuters and confirmed by the planemaker. «Boeing has made serious missteps in recent years — and it is unacceptable. In response, we have made sweeping changes to the people, processes, and overall structure of our company,» Ortberg will say in his written testimony.

laser-driven nuclear fusion facility in Mianyang, a project that could alter global energy and defence dynamics. Satellite imagery, analysed and published by Reuters, reveals that the centre is «50% more imposing» than the National Ignition Facility (NIF) in California, the world's current benchmark for laser fusion research. This signals a significant escalation in the race to harness fusion energy.

At close, the company added more than $7 billion to its market value.

Visa has offered Apple roughly $100 million to take over the tech giant's credit card partnership from Mastercard, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter. Visa has made a bold push to secure the Apple Card, offering an upfront payment typically reserved for the largest card programs, WSJ reported. Visa declined to Reuters' request for comment.

The Institute for Supply Management (ISM) said on Tuesday that its manufacturing PMI dropped to 49.0 last month from 50.3 in February. A PMI reading below 50 indicates contraction in the manufacturing sector, which accounts for 10.2% of the economy. Economists polled by Reuters had forecast the PMI slipping to 49.5. Manufacturing started turning around at the beginning of the year after a lengthy recession triggered by the Federal Reserve's aggressive interest rate hikes in 2022 and 2023 to tame inflation. But the nascent recovery appears to have been snuffed out by President Donald Trump's barrage of tariffs. Trump, since returning to the White House in January, has announced and delayed tariffs on Canada and Mexico for what he alleges is their role in allowing the opioid fentanyl into the U.S., set import taxes on goods from China for the same reason, launched hefty duties on imports of steel and aluminum and slapped a 25% levy on imported cars and light trucks. Trump promised to announce global reciprocal tariffs on Wednesday, which he has dubbed «Liberation Day.» He sees tariffs as a tool to raise revenue to offset his promised tax cuts and to revive a long-declining U.S. industrial base.

Arm Holdings recently sought to acquire Alphawave, a UK-based supplier of semiconductor intellectual property, to secure a crucial technology that is crucial for building its own artificial-intelligence processors, according to three sources familiar with the matter. Alphawave, which has a market value of 707.1 million pounds ($913.36 million), has been working with its investment bankers to explore a sale after receiving acquisition interest from Arm and other potential acquirers, one of the sources told Reuters. Arm, however, has decided not to pursue a takeover of Alphawave after its initial discussions with the company, two of the sources said.

finished steel imports during the first 11 months of the financial year, which began in April, stood at 8.98 million metric tons, marking a 15.8% year-on-year increase, according to provisional government data reviewed by Reuters on Tuesday. India, the world's second-biggest crude steel producer, became a net importer in 2023/24, a trend that has continued with rising shipments from China, South Korea and Japan. Last month, India recommended a 12% temporary tax on certain steel products for 200 days, known as a safeguard duty, in an attempt to curb imports. South Korea was the biggest exporter of the alloy to India during April-February, with shipments reaching 2.6 million metric tons, up 7.1% year-on-year, the data showed. Finished steel imports from China totalled 2.4 million metric tons, down 5.3% year-on-year, while imports from Japan reached 1.9 million metric tons, marking a nearly 70% year-on-year increase, the data showed.

Poland is ramping up its defence capabilities, positioning itself as a key player on NATO's eastern flank in the face of an assertive Russia and also of a U.S. administration under Donald Trump that has sharply criticised Europe over security matters. «The safety of Polish skies has no price,» Wladyslaw Kosiniak-Kamysz told a news briefing on Monday, adding that missile defence and cooperation with the United States are a priority. Kosiniak-Kamysz later confirmed to Reuters by text message that the value of the contract was almost $2 billion. The agreement with the U.S. concerns the delivery of logistical support for the Patriot system within the Armed Forces and includes technical support components as well as training.

World Liberty Financial raised more than half a billion dollars, President Donald Trump's family took control of the crypto venture and grabbed the lion's share of those funds, aided by governance terms that industry experts say favor insiders. Launched last fall, World Liberty's goal is to allow people to access financial services using cryptocurrencies and without intermediaries like banks in what is called decentralized finance, or DeFi.

Nifty ended March on a strong note, gaining 6% during the month, led by banking and financial stocks. When markets resume trading on Tuesday, several important domestic and global events lined up for the week are likely to impact them. Indian stock markets will remain closed on Monday due to Eid-Ul-Fitr.

Artificial intelligence startup Scale AI is seeking a valuation as high as $25 billion in a potential tender offer as it looks to capitalize on the booming demand for the technology, Business Insider reported on Friday, citing multiple sources. Top tech companies are racing to build AI into their products and services. Startups catering to the surge in demand for AI chips and machine learning have been a bright spot in the private funding market. Terms of California-based Scale AI's tender offer, where investors and/or the company buy shares from existing shareholders, are being discussed and the final valuation could change, the report said.

Bangkok, Myanmar Earthquake Today LIVE: A strong 7.2 magnitude earthquake hit central Myanmar on March 28 (Friday), according to the United States Geological Survey (USGS). The tremor hit 16 km northwest of Sagaing city at a depth of 10 km, at around 12:50 pm local time, USGS added.Minutes later at 1.03 pm, the National Center for Seismology in India reported a 4.0 Ritcher scale quake in Meghalaya's East Garo Hills.Also Read | Earthquake today: Quake of magnitude 7.2 hits Myanmar; tremors felt in China, ThailandFurther, the USGS and Germany's GFZ Center for Geosciences also reported that a midday earthquake struck Thailand's capital city of Bangkok at a shallow depth of 10 km.

Elon Musk's X for wrongly labelling as a «censorship portal» an official website that allows tech companies to be notified about harmful online content, court papers reviewed by Reuters showed on Friday. The lawsuit marks an escalation in a legal dispute between X and the government of Prime Minister Narendra Modi over how it orders content to be taken down, at a time when Musk nears the launch in India of his other key ventures, Starlink and Tesla. The comments came in a rejoinder to X's new lawsuit filed on March 5 in the southern state of Karnataka seeking to quash the government's website initiative.

dollar was headed for a steady week on Friday and a quarterly loss next week as concern about tariffs slowing U.S. growth has pushed down U.S. yields, stocks and the currency. The euro, at just below $1.08, was headed for its largest quarterly rise in more than a year, gaining more than 4% since the start of 2025 on a combination of peace prospects in Ukraine, dollar weakness, and a leap in benchmark German yields.

CoreWeave plans to reduce the size of its U.S. initial public offering and price the shares below range, a person familiar with the matter told Reuters on Thursday, as per a report. The Nvidia-backed cloud services provider is now looking to sell 37.5 million shares and price them below the range at $40 apiece, the source added, requesting anonymity discussing confidential information. The sale would fetch up to $1.5 billion, Reuters reported. The listing is being closely watched as a test for the fragile U.S. IPO market and a gauge of whether investor enthusiasm for AI newcomers remains strong or is waning. CoreWeave and some existing investors had initially aimed to sell 49 million shares in the offering priced between $47 and $55 each to raise as much as $2.7 billion. The company did not immediately respond to Reuters' request for comment.

US auto tariffs, the luxury carmaker said. Ferrari said it would stick largely to its financial targets for this year, according to a report in news agency Reuters. The new levies on cars and light trucks will take effect on April 3. Ferrari announced that pricing for models imported before April 2 will remain unchanged. However, starting from that date, “new import conditions will be partially reflected in pricing,” with increases of up to 10%. This means the Maranello, Italy-based automaker will absorb part of the 25% tariff hike introduced by Trump on Wednesday. «The commercial terms will remain unchanged for orders of all models imported before April 2, 2025, and for orders of the following three families — Ferrari 296, SF90 and Roma — regardless the import date. For the current remaining models, the new import conditions will be partially reflected on pricing, up to a maximum 10 per cent increase,» the company said in a statement. ALSO READ: 'Elon, I want to thank you': Trump makes it official, makes big statement amid Tesla Takedown protests