
TPW's Pelosky Warns of Capital Repatriation Out of US

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Bloomberg
17 minutes ago
- Bloomberg
Romanian Premier Vows Deeper Spending Cuts to Avoid Default Risk
Romania's new prime minister warned his country could face a default unless the government quickly reins in years of lavish spending. Premier Ilie Bolojan said in an interview with Bloomberg News on Thursday that he sees the next six months as crucial for his administration to impose a series of radical austerity measures despite growing public discontent and tensions within the ruling coalition.


New York Post
an hour ago
- New York Post
India shops the globe for oil ahead of Trump-Putin summit: report
Indian refiners, the top importers of Russian crude oil, are searching for alternative suppliers ahead of Friday's summit between President Trump and his Russian counterpart Vladimir Putin. India, the world's third-largest oil consumer, is looking to switch up its procurement process after Trump imposed a total 50% tariff rate on New Delhi, accusing the country of effectively fueling Russia's war machine. Oil importers are now hedging their bets that even harsher punishments are in store for anyone who purchases petroleum from Moscow once Trump meets with Putin, with India's state processor buying large bulks of non-Russian crude this week to prepare for the worst, Bloomberg reported. 4 Indian state-refiners, under Prime Minister Narendra Modi, are shopping around the world for crude oil. Ton Molina/NurPhoto/Shutterstock 4 State refiners are looking to alternatives from Russia, which accounts for about $130 billion on India's oil imports. REUTERS Both Indian Oil Corp. and Bharat Petroleum Corp. have purchased cargo from all over the world, including the US, Brazil and the Middle East. Saudi Arabia remains one of the top exporters of oil to India, with Riyadh sending about 22.5 million barrels of crude that are expected to arrive in September, according to Bloomberg. The full 50% tariff rate imposed by Trump is due to take effect Aug. 27, supplanting the 25% rate currently in effect. The race to stock up comes as Indian Oil, the country's top refiner, missed its quarterly profit estimates on Thursday, reporting revenue about $200 million below expectations. 4 Trump has threatened to double the tariff rate on India to 50% over New Delhi's purchase of Russian crude oil. via REUTERS 4 Russian President Vladimir Putin is set to meet with Trump in Anchorage, Alaska, on Friday. VYACHESLAV PROKOFYEV/SPUTNIK/KREMLIN POOL/EPA/Shutterstock On average, India imported about $130 billion in Russian oil per year since Moscow invaded Ukraine in February 2022, according to an analysis from the New York Times. 'Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,' India's foreign ministry said in a statement responding to Trump's Aug. 6 tariff announcement. Officials in India have accused the US of importing uranium and fertilizers from Russia despite ongoing sanctions. The recent rupture with Trump has also led India to look to mend its relations with China and discuss resuming cross-border trade of domestic goods after more than five years, according to Bloomberg. With Post wires


Bloomberg
an hour ago
- Bloomberg
Bloomberg Intelligence: Deere Plunges as Struggling Farmers Delay Machinery Rebound
Watch Paul LIVE every day on YouTube: Bloomberg Intelligence hosted by Paul Sweeney and Lisa Mateo - Christopher Ciolino, Bloomberg Intelligence Senior US Machinery Analyst, discusses Deere shares tumbling the most in over three years as the world's biggest farm machinery maker pared its annual earnings outlook with lower grain prices curbing growers' spending. -Woo Jin Ho, Bloomberg Intelligence Senior Technology Analyst, discusses Cisco Systems giving a cautious forecast for the current fiscal year, with revenue expected to range from $59 billion to $60 billion. -Matthew Schettenhelm, Bloomberg Intelligence Media Litigation Analyst, why BI thinks any Nvidia, AMD export sales sharing lawsuit would need a prayer. -Tom Metcalf, Bloomberg Finance Editor, discusses how US and Canadian banks are summoning staffers back to their offices at a faster rate than European rivals, widening the divide in one of finance's defining workplace debates.