Latest News
-
Trump's executive orders on immigration, DEI and abortion
Since he took office on January 20, Donald Trump, the U.S. president, has taken a number of executive orders as well as other actions that have a rapid impact on Americans. The White House reported that the executive orders totaled over 300. They aim to fulfill the Republican campaign promises regarding illegal immigration, federal employment size, energy, environment, gender, diversity, and abortion policies. Orders The law has the force of law But it can be revoked or blocked by future presidents. Here are some early Trump policy moves. IMMIGRATION Trump declared a state of national emergency at the U.S. Mexico border, and issued a ban on asylum to migrants who "engaged in invasion across the southern borders." He told the Defense Department that it was a top priority to seal the borders and support the construction of border walls, detention spaces and transportation for migrants. He gave the Defense Secretary the authority to send troops along the border. The White House also announced the deployment of 1,500 more troops. Trump has ordered the suspension for refugee admissions to the U.S. This includes the nearly 1,660 Afghans who were cleared to settle in America. He reinstated his "Remain in Mexico policy", which forces non-Mexicans seeking asylum to wait in Mexico until their U.S. cases are resolved. He ordered the Attorney General to pursue capital punishment for immigrants who are not legally recognized and commit crimes like murder, which could be punishable by death. He signed an order ending birthright citizenship for children born in the U.S., if either their mother or father are not U.S. citizens or legal permanent residents. According to the U.S. Constitution, people born in America are entitled to citizenship. Democratic state attorneys and advocates filed lawsuits on the issue, and Ronald Reagan's Republican president appointed a judge to block the order. He called it "blatantly illegal." Trump has also started a process of designating criminal cartels to be foreign terrorist groups and to use a 1798 law called the Alien Enemies Act to target foreign gangs. ABORTION Restored U.S. Participation In two international antiabortion agreements, including one which cuts off U.S. funds to foreign organizations that provide or promote abortions. He reinstated Mexico City Policy which his opponents refer to as the "global gag rule" for the way it has silenced abortion advocates. It was established by Reagan in 1984 and has been repealed or rescinded each Democratic President since then. TRANSGENDER TROOPS AND COVID IN THE MILITARY Trump signed executive orders that were aimed at The military The reintroduction of thousands of troops expelled for refusing COVID-19 vaccinations during the pandemic; the removal diversity, equity, and inclusion requirements; and the targeting of transgender members. In one order, it was stated that expressing a transgender identity would violate military standards. However, the order did not specify whether or not current transgender military personnel would be allowed stay in service. Trump has rescinded a former Democratic president Joe Biden's order that allowed transgender individuals to serve in military. GRANTS and LOANS The White House of Donald Trump ordered the a All federal grants and loans will be halted This could affect education and healthcare, housing assistance and disaster relief, as well as a number of other initiatives that rely on billions of dollars from the federal government. The money will be held while the Trump Administration reviews the programs and ensures they align with the Republican President's priorities. Slashing the size of the federal workforce Trump has ordered federal employees to return to work full-time in the office and that agencies take action to stop remote working arrangements. He announced a hiring freeze for federal jobs, with the exception of military, immigration enforcement and national security, as well as public safety. He reinstated the Schedule F executive orders he issued during his first term. These would have stripped tens or thousands of federal workers of their employment protections, and made them more easily fired. GOVERNMENT DIVERSITY AND GENDER ISSUES Trump signed an executive order calling for the elimination government diversity programs. This includes all federal jobs and offices related to diversity and equity. All federal DEI offices were facing closure, so the Trump administration paid all staff in their offices a leave of absence. The order instructs the administration review which federal contractors provided DEI materials to government agencies, and revokes Equal Employment Opportunity order that was signed by President Lyndon B. Johnson in 1965. He signed an official order that "recognizes two sexes - male and female" in documents. The order said that "these sexes cannot be changed and are based on fundamental and undisputed reality." Trump ordered agencies to stop using pronouns based on gender identity or preferred pronouns. STEPS TOWARDS A TRAVEL BANN? Trump signed an executive order setting a 60-day period for State, Justice and Homeland Security officials to identify countries with screening and vetting processes "so inadequate as to warrant partial or complete suspension of admissions to nationals from these countries." U.S. civil right groups You can also read about the warnings below. The order lays down the foundation for a reinstatement of the ban on travel from countries with a majority of Muslims or Arabs. EXPANDING Energy Production Trump declared an energy emergency in order to increase energy production, eliminate regulations and to end rules that were aimed at accelerating the transition to electric cars. He signed an order promoting oil and natural gas development in Alaska. This reversed Biden's attempts to protect Arctic lands, U.S. coast waters, and offshore wind lease sales. It also lifted a ban on the export of liquid natural gas. PARIS CLIMATE PACT Trump ordered that the U.S. withdraw from the Paris Climate Agreement, putting the U.S. outside of the global pact intended to push nations to combat climate change. Trump had taken the same step in his first term. Biden then reversed that decision. Withdrawal from the World Health Organization Trump has ordered his administration begin the withdrawal process from the World Health Organization. He said the global health agency mishandled COVID-19 and other international health emergencies. JAN. 6 PARDONS Trump pardoned around 1,500 of his followers who attacked the U.S. Capitol in 2004. The vast majority of those convicted were involved in the riot. The pardoned individuals included the leaders of far-right groups Oath Keepers, and Proud Boys. TIKTOK AND DOG Trump signed an executive directive to delay for 75 days the implementation of a ban on popular short-video application TikTok, which was scheduled to close down on January 19. The Department of Government Efficiency was created by him to make drastic cuts in the U.S. Government. This group immediately drew lawsuits against its operation. (Reporting and editing by Tim Reid in Washington and Jeff Mason; Deepa Babington, Ross Colvin and Colleen Jenkins)
-
US Senate Judiciary Committee requests Trump to explain the rationale behind firing 18 IGs
The Republican Chair of the Senate Judiciary Committee, and the top Democrat on the panel, asked U.S. president Donald Trump for his reasoning behind firing 18 inspectors who provide oversight to U.S. federal agencies. Senators Chuck Grassley, and Dick Durbin asked Trump to "immediately provide" the legally required substantive justification. They also requested that Trump share the names of all officials who would serve in an interim role. The law must be obeyed. The senators wrote that "the communication to Congress should contain more than vague and general statements, but instead include enough facts and details so as to assure Congress and public that the termination was due to genuine concerns about the ability of the Inspector General to perform their mission." The group also urged Trump to "move quickly to nominate non-partisan and qualified individuals to fill these vacant positions." Trump has fired the IGs of the Departments of State, Defense, Transportation, Labor, Health and Human Services, Veterans Affairs and others. The White House has not yet commented. Inspectors General are independent watchdogs who have the task of rooting out fraud, waste and abuse. Inspectors general are independent watchdogs who investigate a range of issues, from the oversight of Boeing 737 MAX production to military aid for Ukraine. Inspectors general were Unexpectedly fired On Friday evening, agencies like the Department of Defense or Department of State removed their inspectors generals despite the legal requirement that the president notify Congress 30 day in advance. He also had to provide a thorough explanation of the removal. Democrats and other inspectors general have expressed concern over their removal, as they fear that Trump might try to replace them.
-
Donald Trump's Tariff Threats
Donald Trump, the U.S. president, has issued numerous tariff threats since he returned to office. The tariffs range from broad to specific - such as a universal tax on imported goods - or targeted at certain sectors, countries, or regions. Trump's trade-related threats have evolved over time. They range from small levies up to those exceeding 200%. This has left other countries and businesses unsure of what will happen next. Here's a list of Trump's threats related to trade. BROAD TARIFF TREAKS Trump's vision is based on a gradual rollout of tariffs that will apply to all U.S. imported goods. According to the Financial Times, Trump's newly confirmed Treasury Secretary Scott Bessent is pushing for a 2.5% tariff that will increase each month. Trump, however, has said that tariffs may be higher. In the past, tariffs were the primary source of U.S. taxes. However, they have been reduced to a small fraction in recent years. Economists claim that Trump's policies are inflationary, as businesses who import goods and pay tariffs will pass on the additional costs to consumers. Global trading partners may impose counter-tariffs on U.S. products like energy, agricultural products, and machinery. This could lead to a trade conflict, creating uncertainty for investors and businesses. THREATS TO SPECIFIC COUNTRIES Trump's tariff proposals are aimed at several key trading partners. MEXICO AND CANADA : Mexico and Canada were the two largest trading partners of the U.S. from 2024 to November. Trump said that he would consider imposing 25% tariffs on imports from Mexico or Canada on February 1, citing the need to retaliate for migration and drug trafficking. He didn't immediately impose tariffs, as he promised during his campaign. Canada exports primarily crude oil, other energy products and cars and car components as part of North American auto manufacturing. Mexico exports a variety of goods to the U.S., including industrial and automotive products. CHINA: Trump has called a discussion he had with Chinese president Xi Jinping 'friendly,' but continues to threaten tariffs on China. In Trump's initial term, both countries were involved in a lengthy trade war which hurt their economies. Trump has said that the EU, and other countries, have alarming trade surpluses. He said that the products of the other countries will be subject to tariffs, or he would demand that they purchase more oil and natural gas from the U.S. despite the fact that U.S. export capacity for gas is close to its limit. RUSSIA: Trump threatened to hit Russia and "other participating countries" with tariffs, taxes and sanctions if an agreement to end the conflict in Ukraine was not reached soon. INDIA/BRICS NATIONS During his election campaign, Trump called India a “very big abuser” on trade and vowed that tariffs would be used to correct imbalances in trade. He also threatened to impose tariffs on the BRICS nations if they refused to agree with his demand that they not create a currency. COLOMBIA - Trump said he was going to impose 25% tariffs on Colombian products after that country refused to accept flights with migrants who were to be deported by the U.S. The two sides reached an agreement. THREATS TO PRODUCTS SEMICONDUCTORS : Trump said that he wanted to impose tariffs against imported computer chips. He pointed to Taiwan where Taiwan Semiconductor Manufacturing Co., the world's biggest contract chipmaker, produces semiconductors for Nvidia and Apple, among other U.S. customers. TSMC will generate 70% of its revenue by 2024, from North American customers. Trump has proposed tariffs on pharmaceutical products, including medicines. This would be a significant change. In the past few decades, pharmaceuticals were generally exempted from tariffs. Trump said that he would also impose tariffs for aluminum, copper and steel - metals required to manufacture U.S. Military Hardware - to encourage producers to produce them in the United States. This could increase costs for automakers, and other manufacturers that use these raw materials. The U.S. imports about 38% of the copper it needs, and is heavily dependent on aluminum imports. AUTOMOBILES: Trump has proposed 25% tariffs for imports from Canada or Mexico, and he's also suggested 100% or higher tariffs on some other vehicles. This could include EVs. In 2024, the automobile industry will account for more than $200 billion in imports from Canada and Mexico. (Reporting by Anjana Anil and Puyaan Singh in Bengaluru; Editing by Maju Samuel)
-
Talen takes FERC to court for rejecting Amazon's co-located data centers
Talen Energy has asked a U.S. court of appeals to review a federal regulator's decision last year to reject an Amazon power agreement that would have connected the data center directly to Talen’s Pennsylvania nuclear facility. According to court documents filed this week, Talen Energy wants to know what the court thinks about the decision. Co-location, also known as colocation, is a popular option for industries that need to obtain large amounts of electricity quickly. Talen sold Amazon its data center campus located at the Susquehanna Nuclear Generating Facility in early last year. The deal would allow the center eventually to receive almost 1 gigawatts of electricity. This is about enough to power the entire Philadelphia area. Talen was denied an amended interconnection contract by the Federal Energy Regulatory Commission (FERC) in December, which would have permitted it to increase its electricity supply to the data centre. There are many ways to co-locate your energy supply. The Talen deal, however, would redirect electricity away from the regional grid. FERC warned that this could worsen the imbalance between the demand and supply of certain parts of the electric system in the United States. Talen has now filed a petition for a review of FERC’s rejection. This includes a rejected rehearing application, by the United States Court of Appeals Fifth Circuit. If the court decides to review the request, the court's decision could be overturned by FERC or sent back to regulators for review. The court could also uphold the regulator's decisions. (Reporting and editing by Chris Reese; Laila Kearney)
-
UK carbon costs close 13.5% higher on EU linking talks report
Standard prices in Britain's. Emissions Trading System surrounded 13.5% greater on Tuesday. after a paper reported that Britain is seeking talks on. connecting its carbon market with that of the European Union. Britain gave up Europe's ETS at the end of 2020 as part of its. exit from the EU and introduced its own carbon market in 2021. The Financial Times, in a report on Tuesday, stated sources. stated UK has asked for that ETS linkage and carbon border taxes. are included on the agenda for talks with the EU in spring. The benchmark UK Allowance contract closed at. 40.16 pounds ($ 49.91)/ metric lot, up from 35.39 pounds the. previous day, after touching an intra-day high of 40.94. pounds/ton on Tuesday, its highest level given that November 2024. Both the EU and UK ETS charge power plants and other. commercial entities for each tonne of co2 they emit. as part of larger efforts to cut emissions and reach climate. targets. Presently, costs in the UK scheme are lower than in the EU,. where the equivalent benchmark contract trades around. 80 euros ($ 83.40)/ load. Provided the significant discount rate of UKAs compared to EUAs,. ETS linkage would imply rate convergence in between the two. systems, said ICIS expert Lewis Unstead. This possibility has actually driven bullish belief for UKAs, as. participants start to price in a greater possibility of a linkage. circumstance, he said. A representative for Britain's Department for Energy Security and. Net Absolutely no stated the UK and EU agreed to think about linking the. schemes under their post-Brexit Trade and Cooperation Arrangement. They did not discuss whether any talks are set up.
-
Sweden's LKAB states it might fulfill 18% of Europe's unusual earth requires with Per Geijer mine
Sweden's LKAB might provide around 18% of Europe's uncommon earth metal demand in the long term if its north Arctic Per Geijer mine enters production, the company stated on Tuesday as it began building and construction of an associated processing center. Uncommon earths are a group of 17 metals crucial to items from lasers to iPhones and green technology secret to meeting Europe's environment goals. State-owned LKAB broke ground on Tuesday on its 800 million crown ($ 73 million) Lulea plant in northern Sweden, which will process mining waste, including potentially from Per Geijer, into rare earth concentrate, phosphoric acid - used in numerous fertilizers - and gypsum. We see our very first stage for phosphates at around 6% (of. European demand) and uncommon earths about 2.5%, Darren Wilson,. senior vice president of the LKAB special items company. area, said. When we broaden totally and make use of the capacity of Per. Geijer, we see that depending on around 18% (of uncommon earths). The Lulea center will at first process waste from LKAB's. Malmberget mine in Gallivare, northern Sweden, with commercial. production beginning in late 2029 or early 2030. Lulea's advancement is not depending on whether LKAB. establishes the Per Geijer discover, which has resources of around 1.7. million tonnes of unusual earth oxides. That could take a years. LKAB has actually sent an application for a processing license. which will give it unique rights to establish the deposit. But. it still requires an environmental license and other regulatory. approvals before it can begin commercial operations. The strategic value of unusual earths has actually been highlighted. by increasing trade tensions with China, Russia's war in Ukraine. and U.S. President Donald Trump's desire to get control of. mineral-rich Greenland. In 2023, the European Union embraced the Critical Raw. Products Act which intends to minimize EU dependence on other. countries for minerals like unusual earths neodymium, dysprosium. and praseodymium which are utilized permanent magnets for wind. turbines and electric motors.
-
Gunvor's head of crude oil trading Roulon leaves company, sources say
Commodity trading house Gunvor's international head of crude trading Benoit Roulon has actually left the company, four sources acquainted with the matter told Reuters. It was not immediately clear why Roulon left Geneva-based Gunvor. A Gunvor spokesperson declined to comment. Roulon did not immediately respond to a Reuters' ask for remark via LinkedIn message. Roulon had remained in the role because September 2022, according to his LinkedIn profile, prior to which he invested over 20 years working for French oil major TotalEnergies and subsidiaries in the U.S., Geneva, and Singapore. The departure follows that of experienced North Sea unrefined trader Neil Hitchinson, who left the trading house in September last year. Trading houses are coming to grips with lower profits after an end to the boom in oil costs following Russia's intrusion of Ukraine and healing in need after the COVID pandemic. In November, Gunvor Chairman and Co-founder Torbjorn Tornqvist said there is little development in oil need, which the industry had actually been over investing. Gunvor's net earnings almost halved in 2023, according to its monetary outcomes launched last April. Bloomberg News reported Roulon's departure from Gunvor earlier on Tuesday.
-
Chilean miner Codelco plans 25% cut in indirect emissions by 2030
Chilean stateowned miner Codelco stated on Tuesday it is preparing a 25% cut in its indirect emissions by 2030, as part of a bigger decarbonization plan and as market needs grow for more traceable copper. WHY IT'S IMPORTANT Codelco is the world's biggest copper manufacturer, and mining is a greatly polluting market. Studies point to mining as accountable for 4% to 7% of greenhouse gas emissions worldwide. CONTEXT Codelco prepares to cut its so-called Scope 3 emissions, which are indirect emissions put out by its providers and the most tough to minimize. These contaminating inputs include dynamites, refractories and lubricants, Codelco said. BY THE NUMBERS Scope 3 emissions account for more than 60% of Codelco's. total emissions. The miner is likewise working to shift the 250. buses it uses to bring workers to their job sites into an. all-electric fleet. By 2030, the transition must be 40%. complete, and 100% complete by 2040. MARKET REACTION Codelco's strategy, part of a bid to slash its overall carbon. footprint by 70% by 2030, is ambitious compared to its. rivals'. In 2015, Antofagasta Minerals devoted to. trimming its emissions by 10% over the same timespan, while. BHP and Teck are working to entirely remove them by 2050.
Tech drags global shares lower on China's AI push; dollar dips
European and Asian shares dropped on Monday as financiers weighed the implications of Chinese startup DeepSeek's launch of a free open-source artificial intelligence design to rival OpenAI's ChatGPT.
Meanwhile, the dollar dipped as broad U.S. import tariffs remained on the back burner, even as U.S. President Donald Trump threatened Colombia with levies to punish the country for earlier contradicting flights carrying deported migrants.
China's DeepSeek presented a totally free AI assistant that it says uses lower-cost chips and less information, apparently challenging an extensive bet in markets that AI will drive need along a. supply chain from chipmakers to information centres.
Europe's innovation sector led the pan-European STOXX 600. index lower, down 0.7%, while the blue-chip Euro STOXX. 50 dropped 1.4% in early European trading.
The STOXX Europe 600 innovation index fell as. much as 4.6%, its most significant one-day drop considering that mid-October.
Futures on the tech-heavy Nasdaq Composite in the. U.S. tumbled over 3.1% and S&P 500 futures sank 2%.
China and DeepSeek say, at least, that they can. provide what ChatGPT can provide today at a fraction of the. cost, stated George Lagarias, investment strategist at Forvis. Mazars.
It makes good sense that markets question the narrative that. has actually been underpinning the whole market ... It's a very frothy. market so it doesn't actually take that much for financiers to take. some profit.
Shares of AI-bellwether Nvidia, which have. risen over 800% considering that the start of 2023, were down over 7% in. pre-market trade.
Japan's Nikkei dropped 0.9%, reversing a preliminary. advance. New Zealand's equity criteria slipped 0.2% and. Singapore's Straits Times index alleviated 0.1%.
At the very same time, Hong Kong's Hang Seng rallied 0.7%. and Chinese mainland blue chips dipped 0.4% after data. showed a surprise contraction in producing this month.
DOLLAR STRENGTH FLEETING
In currency markets, the dollar dipped, as Trump has so. far avoided carrying out broad-based U.S. import tariffs,. however China, Mexico and Canada face a nervy wait with Trump last. week allocating Feb. 1 for additional tariffs on the United. States' leading trading partners.
The dollar rose 1% against the Mexican peso on. Monday and 0.1% versus its Canadian equivalent.
The Colombian peso had yet to trade against the. dollar, but had actually rallied 3.4% over the previous 3 sessions.
On Sunday, Trump threatened Colombia with tariffs and. sanctions to punish it for refusing to accept military flights. bring deportees, however Colombia later stated it would accept the. military aircraft and the U.S. sanctions risk was put on hold.
The euro reduced 0.1% to $1.0481. Sterling. was bit altered at $1.2470. The yen rose. 0.8% to 154.72 per dollar.
As a trend, Trump is taking a more sensible, less. aggressive position on tariffs, Nomura strategist Naka Matsuzawa. stated.
Bottom line: Trump does not want big tariffs because. he's worried about inflation, he stated. The dollar will be. overall weaker.
The volatility throughout possession classes kicks off an essential. week for markets that will see the Federal Reserve and European. Reserve bank - among others - set financial policy.
At the exact same time, numerous Asian bourses have actually extended. vacations this week for the Lunar New Year. Amongst them, South. Korea and Taiwan were already closed on Monday. Markets in. mainland China are shut from Tuesday and do not resume until. Feb. 5. Australia was closed on Monday for Australia Day.
Meanwhile, crude oil costs rose somewhat with Brent crude. futures up 0.3% to $78.75 a barrel, while U.S. West. Texas Intermediate crude gained 0.2% to $74.80 a barrel.
Gold sank 0.3% to $2,764 per ounce.
Leading cryptocurrency bitcoin dropped more than 5%. to below $100,000 for the very first time in a week, and was last at. $ 99,210.
(source: Reuters)