Business

For months, Port of Los Angeles Executive Director Gene Seroka warned of slashes to shipment arrivals from China and reduced hours for dock workers and truckers as a result of President Donald Trump’s aggressive tariff threats. As the busiest port in the U.S. saw record-setting shipping volumes last month, Seroka still isn’t breathing a sigh of relief. The Port of …

Hassett Grabs Pole Position in Race to Be Trump’s New Fed Chair  Bloomberg.com Bessent Suggests Powell Should Leave Fed Board in May  Bloomberg.com Trump economic adviser Kevin Hassett is rising in race for next Fed chief  The Washington Post Trump: Bessent an option to replace Fed chair, ‘but I like the job he’s doing’  Reuters Scott Bessent confirms moves to replace Jerome Powell are …

Asia stocks drift lower tracking Wall St; Hong Kong rises as Nvidia cheer persists  Investing.com Asia shares struggle, dollar soars on lowered Fed rate cut bets  Reuters Asian Tech Stocks Shine as Markets Weigh Latest Tariff Twists  The Wall Street Journal Asian shares are mixed after Nvidia nudges Nasdaq to a record, while other US stocks slump  Yahoo Finance Asia markets mixed as trade …

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Pop Mart, the Chinese toy firm behind the hugely popular Labubu dolls, has said its profits are set to soar for the first six months of this year. The Beijing-based company said it expects profits for the period to jump by at least 350% as revenues more than tripled. Pop Mart, which has a stock market value of more than …

Asian Stocks Edge Lower as Fed Rate-Cut Bets Wane: Markets Wrap  Bloomberg Asia shares struggle, dollar soars on lowered Fed rate cut bets  Reuters Asian Tech Stocks Shine as Markets Weigh Latest Tariff Twists  The Wall Street Journal Asian shares are mixed after Nvidia nudges Nasdaq to a record, while other US stocks slump  Yahoo Finance Asia stocks drift lower tracking Wall St; Hong …

Mark Zuckerberg is slated to make yet another high-stakes courtroom appearance this week as shareholders seek to hold him accountable for the more than $8 billion that Meta has spent to settle lawsuits over privacy violations.  The trial, set to begin Wednesday in Delaware’s Court of Chancery, aims to hold Zuckerberg, former Meta COO Sheryl Sandberg and other former executives …

Treasury yields rose Tuesday as traders assessed the latest U.S. inflation report and what it means for Federal Reserve monetary policy going forward. The 10-year Treasury yield rose 6 basis points to 4.485%, while the 30-year yield jumped more than 4 basis points to 5.015%. The 2-year note yield advanced nearly 6 basis points to 3.954%. The consumer price index climbed 0.3% month over …

Wells Fargo Profit Rises After Lifting of Asset Cap  The Wall Street Journal Wells Fargo Cuts Net Interest Income Guidance After a Miss  Bloomberg.com Wells Fargo profit beats estimates, cut to interest income forecast weighs on shares  CNBC Wells Fargo snaps streak of revenue misses, but the stock is falling. Here’s why.  MarketWatch Wells Fargo (WFC) Tops Q2 Earnings and Revenue Estimates  Yahoo Finance Source …

Trump joins tech and energy executives amid AI push  Reuters Live updates: Trump speaks at CMU summit in front of energy leaders and tech titans  Pittsburgh Post-Gazette President Trump Solidifies U.S. Position as Leader in AI  The White House (.gov) Tech and energy giants pour billions to turn Pennsylvania into an AI hub as part of Trump’s tech push  CNN Hundreds march in protest …