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Yahoo
an hour ago
- Yahoo
India slams Trump's threat of tariffs over Russian oil purchases
India fired back at the United States after President Trump pledged to increase tariffs on New Delhi over the country's purchase of Russian oil. In a statement Monday, India's Ministry of External Affairs (MEA) said the purchase of Russian oil is a 'necessity' to 'ensure predictable and affordable energy costs' and was once 'encouraged' by the U.S. 'for strengthening global energy markets stability.' The MEA spokesperson further suggested the West is being hypocritical, pointing to trade that the European Union and the United States has continued to do since the war between Russia and Ukraine began. 'In this background, the targeting of India is unjustified and unreasonable,' the spokesperson said in the statement. 'Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,' it added. The pushback from India comes after Trump said on Monday he would raise tariffs on India for buying and selling oil from Moscow, arguing the country doesn't care about the Ukrainian casualties suffered at the hands of 'the Russian War Machine.' Trump did not specify the new tariff rate but said it would increase from the 25 percent tariff the U.S. president said he would impose last month. 'India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits,' Trump said on Truth Social. 'They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA.' Trump previously vowed to hit India with a penalty for buying military equipment and energy from Russia amid the war in Ukraine. China is also a major importer of Russian oil, but has not faced the same threats from Trump. Trump in recent weeks has grown increasingly frustrated with Russian President Vladimir Putin and shortened the timeline for him to agree to a ceasefire in Ukraine to Aug. 8, at which point Trump has said he will impose 'secondary tariffs' of up to 100 percent on Russia's trading partners in a bid to isolate Moscow economically. India said it would continue buying oil from Moscow on Saturday. The Indian foreign ministry called the relationship with Russia 'steady and time-tested' and said its stance on security energy is guided by the availability of oil in the markets. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
Bloomberg
an hour ago
- Bloomberg
Vietnam Regulator Orders Tighter Oversight of Stock Transactions
Vietnam's State Securities Commission has directed stock exchanges and relevant agencies to strengthen supervision of equity transactions following a recent sharp rally in the market. The SSC said bourses need to 'closely monitor' transactions that involve sharp price moves, or those that show signs of 'unusual' activities, according to a statement posted on its website. It also ordered the exchanges to coordinate with Vietnam Securities Depository and Clearing Corp. to ensure safe, stable and smooth securities trading, clearing and settlement.
Yahoo
2 hours ago
- Yahoo
eBay Inc. (EBAY)'s Algorithims Are Working, Says Jim Cramer
We recently published . eBay Inc. (NASDAQ:EBAY) is one of the stocks Jim Cramer recently discussed. eBay Inc. (NASDAQ:EBAY) is an eCommerce retailer whose shares have gained 47% year-to-date. Most of these gains are due to an 18.3% jump in July after the firm's second-quarter earnings report. The results saw eBay Inc. (NASDAQ:EBAY) beat analyst second-quarter revenue and EPS estimates of $2.64 billion and $1.30 by posting $2.73 billion and $1.30, respectively. The firm's third quarter revenue guidance of $2.69 billion and $2.74 billion also overshot analyst estimates of $2.66 billion. Here's what Cramer believes about eBay Inc. (NASDAQ:EBAY)'s strong performance: 'Now one David, that I know that you will remember from the old days that really is putting on a good show, would be eBay. They've got their mojo back. It's up 15%, they had very good numbers, and I salute them. They hung in and now their model is working. They've got the algos working so to speak. And a lot of people upgraded it. That's to me, better focus, better focus.' Copyright: rawpixel / 123RF Stock Photo Earlier, Cramer discussed eBay Inc. (NASDAQ:EBAY)'s marketplace and shifting sentiment: 'There's no real theme to the other stocks on the list… eBay's a real shocker. It's come a long way to get back on this list. Now, I've watched this stock get carved up for ages, but now it looks like eBay has stopped being a whipping boy, and people are feeling comfortable buying merchandise second-hand. Has a partnership with Facebook's Marketplace, which has spurred real growth for the company. I like that, by the way, that marketplace section.' While we acknowledge the potential of EBAY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
