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Category Archives: Business News

Trump halts doubling of tariffs on Canadian metals, after Ontario suspends electricity price hikes

Trump halts doubling of tariffs on Canadian metals, after Ontario suspends electricity price hikes

WASHINGTON (AP) — President Donald Trump says he will double his planned tariffs on steel and aluminum from 25% to 50% for Canada. He’s escalating a trade war with the United States’ northern neighbor and standing unmoved by recent stock market turmoil and rising recession risks. Trump said on social media that the increase of the tariffs set to take effect on Wednesday is a response to the price hikes that the provincial government of Ontario put on electricity sold to the United States. That prompted Ontario on Tuesday to back down on its planned surcharges on electricity sold to the United States.… Continue Reading

Stocks’ sell-off worsens as Wall Street wonders how much pain Trump will accept for the economy

Stocks’ sell-off worsens as Wall Street wonders how much pain Trump will accept for the economy

NEW YORK (AP) — Wall Street’s sell-off is worsening. The S&P 500 fell 2.2% Monday as worries build about how much pain President Donald Trump is willing to endure on the economy in order to get what he wants. The Dow Jones Industrial Average dropped 530 points, and the Nasdaq composite sank 3.6%. The losses follow the worst week for U.S. stocks since September on concerns that on-and-off-again tariffs will either hurt the economy directly or create enough uncertainty to freeze it. Elon Musk’s Tesla fell to one of the market’s sharpest losses, as did airlines and other companies that need U.S. shoppers feeling confident enough to spend.… Continue Reading

Elon Musk claims X being targeted in ‘massive cyberattack’ as service goes down

Elon Musk claims X being targeted in ‘massive cyberattack’ as service goes down

Hours after a series of outages that left X unavailable to thousands of users, Elon Musk is claiming that the social media platform is being targeted in a “massive cyberattack.” Musk said on a post Monday that the attacker is either a large, coordinated group or a country. Complaints about outages spiked Monday at 6 a.m. Eastern and again at 10 a.m, with more than 40,000 users reporting no access to the platform, according to the tracking website Downdetector.com. A sustained outage appeared to begin just after noon Eastern.… Continue Reading

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