Its The Economy, Stupid - Economic & Business News From Around The World

[Fwiffo]

Tesla says Musk should be paid $1tn - will shareholders agree?

The car-maker is lobbying fiercely for the pay package, which is being voted on ahead of its AGM on Thursday.

www.bbc.com

No other man is more deserving. Mankind's shining star.

 

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Trump’s 50-year mortgage would save you about $119 a month while doubling the interest you pay over the long run, UBS estimates

Why not just call it perpetual rent? Even if you buy it at 22, you’re past retirement by the time the debt is paid off.

 

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Report: UBS Chair Discussed Possible Move to US With Bessent

Not only will you make a deal for lower tariffs, you will move your banks and other crown jewels to be headquartered in the States.

 

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Costco sues Trump administration for 'full refund' of tariffs

Two lower courts have already ruled against President Trump's use of emergency powers to impose tariffs.

www.bbc.com

Shouldn’t you wait till the judgment until you start the lawsuit? Now you expose yourself to the wrath of the administration.

 

[Fwiffo]

Netflix strikes $72-billion deal to acquire Warner Bros Discovery’s studio, streaming business

Deal would hand control of prized Hollywood assets to the streaming giant and is likely to face scrutiny from regulators

www.theglobeandmail.com

Death to the cinema? Straight to Netflix for all WB releases?

 

[Fwiffo]

US slashes proposed tariffs on Italian pasta imports

The plan to impose steep tariffs on 13 producers could have seen major price rises for US consumers.

www.bbc.com

Ottimo

 

[Fwiffo]

Saks Global CEO steps down as luxury retailer reportedly preparing for bankruptcy

Executive chair Richard Baker to replace Marc Metrick after company misses $100m interest payment on debt

www.theguardian.com

Richard Baker. The man who managed to kill the Hudson’s Bay Company and erase a legacy going back to the 17th century.

I reckon he goes back to his playbook. Sell property of the stores and lease them. Then use the money to funnel it back to his holding and sister companies. After Saks and Neiman Marcus are defrauded they go bankrupt.

 

[Fwiffo]

Trump seeks $100bn for Venezuela oil, but Exxon boss says country 'uninvestable'

Oil executives expressed caution, with one executive saying Venezuela had seized their assets twice.

www.bbc.com

We'll need a backstop from the US taxpayer

 

[Fwiffo]

Amazon cuts 16,000 jobs globally in latest round of layoffs

The company has been recalibrating its work force, expanding its use of AI tools and scaling back on hires made during the pandemic

www.theglobeandmail.com

No hire. Low fire. Or sometimes big fire. No hire.

 

[Fwiffo]

India-US trade deal: Hope and uncertainty as Trump cuts tariffs

Indian industry has welcomed lower tariffs, but experts caution against celebration until details are clearer.

www.bbc.com

Liberation Day. Higher tariffs. I hate you for dealing with Russia. Highest tariffs. A trade deal is born! Back to Higher tariffs. We're happy!

 

[Fwiffo]

Macron urges Europe to start acting like world power

The French president warns of growing threats from China, Russia and now the US, saying Europe faces a "wake-up call".

www.bbc.com

"In the face of that, I am not saying we should be protectionist. It's more a question of being coherent - in other words not imposing on our own producers rules which we do not impose on non-Europeans."

Death to free trade! Tariff the foreigners!

 

[Fwiffo]

Trump calls Supreme Court justices 'disloyal to the Constitution' over tariffs ruling

President Trump launched a vitriolic attack on the justices who ruled against him, including two he himself appointed.

www.nbcnews.com

I think I am still being tariffed for steel, aluminium, lumber and vehicle parts? Does the 10% retaliatory tariff go on top of tariffs that won't be rescinded?

 

[Fwiffo]

Trump raises global tariff to 15% shortly after implementing reworked 10% levy

Most of Trump's tariffs were struck down by the Supreme Court on Friday in a 6-3 decision.

www.nbcnews.com

Increasing by 5% a day

 

[Fwiffo]

A familiar uncertainty as the world grapples with fresh Trump tariff turmoil

Uncertainty isn't a new position for European leaders, who have spent much of Trump’s second administration negotiating with Washington over frequently evolving tariff threats.

www.nbcnews.com

Good job Great Britain. PM Starmer got on his knees and was the first to secure a 10% deal now only to see it at 15%.

 

[Fwiffo]

Trump's new global tariff comes into effect at 10%

The global levy comes in at 10%, lower than the rate the president had threatened at the weekend.

www.bbc.com

Back to 10%. Until the typo is corrected.

 

[Fwiffo]

How Iran's struggling economy is changing how families live

The soaring cost of living has left people struggling to afford basic items - creating pressures which led to mass protests.

www.bbc.com

Inflation par excellence.

 

[Fwiffo]

Oil is spiking and stocks are slumping after the attacks on Iran. Here's how world markets are reacting to the conflict.

Oil prices spiked and stocks slumped on Monday as traders feared attacks on Iran would disrupt global commerce and fuel a prolonged conflict.

www.businessinsider.com

Last Friday we had $67. Do we have $79? One barrel for $79. Do I hear $89?

 

[Fwiffo]

China sets lowest economic growth target since 1991

It is also the first time the target has been lowered since it was cut to "around 5%" in 2023.

www.bbc.com

Still on track to be number one economy?

 

[Fwiffo]

US economy unexpectedly sheds 92,000 jobs in February

The contraction came as a surprise with payrolls down in nearly every sector.

www.bbc.com

Oops. Inflation from higher oil prices requiring higher interest rate intervention. Falling employment that could benefit from lower interest rates. What does the Fed do?

 

[Fwiffo]

US eases Russia oil sanctions as Iran war pushes up energy prices

Washington says a 30-day waiver is only for sanctioned Russian oil already loaded on vessels at sea.

www.bbc.com

President Putin and the Russian Federation to the rescue.

 

[Fwiffo]

'Nobody knows': Oil price shock leaves Fed uncertain about the economy

"Higher energy prices will push up overall inflation," said Chair Jerome Powell, but it's still "too soon" to know how this will impact Americans.

www.nbcnews.com

T bill holders rejoice. The cuts are over.

 

[Fwiffo]

Oil traders bet millions ahead of Trump's Iran talks post

Market data shows the amount of oil trade rose before the US President said he would postpone attacks on Iran's power plants.

www.bbc.com

Replace oil with equities and Iran with Liberation Day and it was the same.

 

[Fwiffo]

Fuel tax halved and free public transport offered as war pushes up prices in Australia

Victoria and Tasmania are incentivising commuters not to drive in a bid to ease cost pressures.

www.bbc.com

Hurrah! Free rides for fxh

 

[Fwiffo]

A global jet fuel shortage is raising the cost of air travel

Airfares are already rising, and JetBlue just announced it was raising baggage fees. Analysts say other carriers are likely to follow suit.

www.nbcnews.com

From real oil barrel shortage or paper barrel shortage?

 

[Fwiffo]

S&P 500 hits new all-time high as investors shrug off Iran war oil price spike

The rebound over the past two weeks has been faster than the one following the Covid market crash in 2020 or when tariffs roiled markets in 2025.

www.nbcnews.com

Weren’t Nasdaq and Dow in 10% correction territory from their all time high a few weeks ago?

 

[Fwiffo]

China’s economy grows in first quarter despite Iran war chaos

GDP advanced 1.3%, a rate that would put the economy on track to expand by more than 5% annually

www.theglobeandmail.com

Negotiating with the President from a position of strength

 

[Fwiffo]

Zelensky condemns US extension of Russian sanctions waiver

The US argues that the waiver is meant to ease the energy supply crunch sparked by the US-Israel war with Iran.

www.bbc.com

Russia back into the fold.

 

[Fwiffo]

Iran sees mass redundancies from war with US and Israel

The impact is being felt by manufacturers, retailers and the digital sector, amid warnings it could get worse if the war resumes.

www.bbc.com

War isn’t good for the economy on both sides. Unless you sell paper barrel oil

 

[Fwiffo]

Spirit Airlines nears deal with Trump administration for $500 million rescue package

The struggling discount carrier has filed for bankruptcy twice, and now it's under pressure from higher jet fuel costs due to the Iran war.

www.nbcnews.com

Was a darling last decade no?

 

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Meta slashes 10% of work force as Microsoft offers buyouts

8,000 layoffs made for efficiency and to allow new investments, Meta says

www.theglobeandmail.com

Record profits...record layoffs.

 

[Fwiffo]

‘See through’ Iran war? Markets exploit permacrisis instead

A new world of rivalry, competition, conflict and tension may just see greater risk simmer and persist

www.theglobeandmail.com

“As Societe Generale’s Andrew Lapthorne points out, almost half the gains in MSCI’s all-country stock index this year have been driven by just two sectors: chips and tech hardware. Of the near US$400-billion rise in full-year consensus profit forecasts, 98 per cent comes from chips, tech hardware and energy.”

Big tech for the win

 

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Opinion: The UAE’s exit marks a blow to OPEC’s power. What’s the future of the oil cartel?

Most countries that have left the oil cartel have taken issue with quotas imposed by its de facto leader, Saudi Arabia

www.theglobeandmail.com

“Without specifically singling out Saudi Arabia, the UAE complained that Arab neighbours in general provided no military support when roughly 2,000 Iranian missiles and drones hit its infrastructure, oil facilities, ports and airports. The UAE vowed to boost its partnerships with the U.S. and Israel even though those two countries had started the war, not Iran. The lack of Arab support during the war may have finally given the UAE the resolve to end its OPEC membership.”

Everyone out for themselves.

“And guessing who is next out the door is not hard. OPEC member Venezuela, home of the world’s largest oil reserves, with its leader in a U.S. prison, in effect has become a client state of the United States. You can bet if Mr. Trump wants Venezuela to bolt from OPEC, as the UAE did, it will happen. “

Genius plan Mr. President.