Browsing: Business

U.S. copper prices have surged to record levels, widening a historic gap between domestic and international markets, after President Donald Trump announced plans to impose a 50% tariff on copper imports. The move, intended to encourage domestic production, has triggered immediate concern over its potential economic fallout. On Tuesday, U.S. copper prices climbed more than 13%, marking their sharpest single-day gain since 1989 and closing at $5.69 per pound. Meanwhile, prices on the London Metal Exchange (LME) edged up just 0.3%, highlighting the stark divergence. The premium of U.S. copper futures over global benchmarks soared 138% in a day, reaching…

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The European Union remains in limbo as the anticipated trade agreement with the United States failed to materialize by the expected July 9 deadline. Talks had been moving forward in hopes of avoiding renewed U.S. tariffs, but with no finalized deal in place, both sides remain at a standstill. President Donald Trump had initially signaled that a trade framework might be reached by this week. Speaking during a Cabinet meeting on Tuesday, he said the U.S. was “probably two days off from sending them a letter,” implying that progress had been made. He added that letters had already been sent…

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Nvidia reached a historic milestone on Wednesday as its market capitalization surpassed $4 trillion, marking the first time any publicly traded company has achieved this valuation. The company’s shares rose over 2% in early trading, continuing a momentum driven by investor confidence in Nvidia’s pivotal role in the rapidly expanding generative artificial intelligence sector. Founded in 1993, the California-based chipmaker has emerged as a central player in the AI hardware market. Its advanced graphics processing units (GPUs) are widely used to power large language models and other AI workloads. Since the public release of ChatGPT in late 2022, demand for…

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