Asia's Richest Tycoon Is Making America Great Again
This colorless, odorless component of natural gas is shipped in liquefied form in special carriers such as STL Qianjiang, which is currently on its way from the US Gulf Coast to billionaire Ambani's terminal in Dahej, Gujarat, on India's western seaboard. There, his flagship Reliance Industries Ltd. has an ethane cracker to produce ethylene, a key building block of plastic products.
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Yahoo
2 hours ago
- Yahoo
U.S. border city residents put their 'Elbows Up' for Canada amid trade war
Hundreds of people gathered in Ogdensburg, N.Y., at the U.S-Canada border over the Fourth of July weekend, singing songs and chanting in support of the friendship between the two nations currently at odds over questions of trade and sovereignty. The trade war, which has seen the imposition of 25 per cent tariffs on various Canadian goods and threats by President Donald Trump to make Canada the 51st state, has led many Canadians to boycott travel to the states. It's a decision that's been strongly felt in border communities like Ogdensburg, where more than 200 people gathered Saturday for a rally at city hall. Attendees chanted "Elbows up!" and heard speeches from organizers and locals in the wider North Country region. They then moved north to the St. Lawrence River, where people waved across the border to folks in Prescott, Ont., before singing Bridge Over Troubled Water and O Canada. Ginger Storey-Welch, the leader of a civic engagement group in the North Country and one of the rally's organizers, said that cross-border traffic across the Ogdensburg–Prescott International Bridge is down 30 per cent and it's harming her community. "I really value the relationship that our two nations have had for decades and decades. And it's really breaking my heart to see the tensions between our nations. It's just, it's not right," Storey-Welch said. Other rallies were taking place along the U.S.-Canada border, from Maine all the way to Alaska, she added. "Our relationship is critical to the local economy," said Blake Gendebien, a local dairy farmer who spoke at the rally and whose eyes are set on winning political office in Washington, D.C. "The Canadian side of the river has been very, very important to me, to my family." Gendebien called the event a tribute to Canada and its longstanding relationship with the U.S. The decline in Canadian tourists is noticeable, he said, pointing out that it's impacting small and large businesses in the North Country region. Gendebien said he plans to run in the congressional midterms next year as the Democrats' representative for New York's 21st congressional district. "When we win this thing, it's going to go back to normal and our relationship is going to be great again," Gendebien said. 'Canada is a sovereign nation' Although organizers said the rally was non-political, some attendees expressed strong grievances with President Donald Trump. Kathryn Craft, an author from Pennsylvania who has a summer place in St. Lawrence County, said she was "embarrassed" by Trump's wishes to annex Canada. "This is not how democracy works. And he does not have the right to just trump, tramp, stamp over all of our laws," Craft said. "Canada is a sovereign nation. Its inhabitants are my friends, and I want to show them that most rational human beings in the United States are on their side." Trump previously unveiled what he called "reciprocal tariffs" on roughly 90 countries in April, but later paused them for 90 days to negotiate new deals. The 90-day freeze ends July 9 and so far the U.S. has only reached agreements with Britain and Vietnam. For Canada, which was not included in the 90-day pause, an end to tariffs could be looming as both Trump and Prime Minister Mark Carney have agreed to strike a trade deal by July 21. It'll be music to Storey-Welch's ears, who hopes the rallies accomplish one thing. "Friendship," she said.
Yahoo
2 hours ago
- Yahoo
China reroutes exports via south-east Asia in bid to dodge Trump's tariffs
Chinese businesses are sending increasing volumes of goods to the US via south-east Asia in a bid to evade the tariff wall erected by Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
3 hours ago
- Bloomberg
Jane Street's Cash Machine Comes to an Abrupt Halt in India
Home to at least a half dozen high-speed trading firms, the blue-glass building with a rooftop helipad and a bronze bull sculpture in its plaza has been the center of a trading boom that made India the world's biggest equity derivatives market by volume. Foreign funds and proprietary traders using algorithms made $7 billion in the 12 months to March 2024 alone. That bonanza may be coming to an end. On Friday, nine months after the nation's securities regulator tightened restrictions on options trading to protect retail investors, it accused Jane Street Group — one of the market's biggest players — of manipulating prices to generate hundreds of millions of dollars in ill-gotten profits.
