Latest news with #ErinSchaff
Economist
7 days ago
- Business
- Economist
Cuts to food stamps are about to hit in America
United States | Coupon clipping Photograph: Erin Schaff/The New York Times/Redux/Eyevine Jul 24th 2025 | SANTA FE, NEW MEXICO | 4 min read B Y DAYBREAK in Santa Fe, the line of cars already snakes down the street. Families in sedans, builders in trucks and one off-duty taxi queue up to get frozen chicken, a sack of potatoes and a gallon of milk. Everyone in line at the Food Depot, a food bank, gets served, but one couple in their 50s arrived at 5:20am just to be sure. They receive money for food through the Supplemental Nutrition Assistance Programme ( SNAP ), a federal welfare programme. It lasts them five days. The Epstein uproar has revealed an unexpected danger—for the president—of a Justice Department that seems partisan Fed up with the traditional joints, these businesswomen are shooting their shot What happens when a president sues a press baron? The cost of replacing ageing ICBMs is soaring as a new arms race looms A vast right-wing conspiracy comes for the president The college drop-out fighting to preserve Donald Trump's youth vote
IOL News
29-04-2025
- Business
- IOL News
Investment Perspectives: Q1 shows signs of global economic weakness amid trade fragmentation
US President Donald Trump. Image: Erin Schaff / Getty Images / AFP By Mark Phillips The global economy showed resilience in 2024, but signs of weakness are emerging against a backdrop of slower growth, persistent inflation, and an uncertain policy environment, according to the OECD's latest Interim Economic Outlook. The report highlights risks, notably that further tradefragmentation could harm global growth outlook projects global growth slowing to 3.1% in 2025 and 3.0% in 2026, with significant regional variation. Inflation is expected to remain higher than previously forecast, though still moderating asgrowth slows. The US economy entered 2025 in good shape, marked by cooling inflation, solid growth, andexpectations of rate cuts. However, US consumer sentiment dipped in January for the first time in six months, hitting a three-month low, driven by growing concerns about unemployment and the inflationary effects of the new tariffs. The escalation of trade tensions between the US and China has heightened fears of a global economic slowdown, underscoring how ongoing trade disputes could hamper global growth. Uncertainty surrounding the US economic outlook is at its highest since the COVID-19 pandemic. Abroad implementation of tariffs would likely raise inflation risks, depress equities, and potentially impede US economic growth. South Africa The outlook for South Africa remains mixed. Figures released in March 2025 showed disappointing GDP growth in 2024, with the economy expanding just 0.6%, below expectations of over 1%. The South African Reserve Bank's Monetary Policy Committee cut the repo rate by 0.25% in January 2025 but opted to hold it steady in March, reflecting growing concerns about the global outlook and potential tariff impacts. A historic event in Q1 2025 was the postponement of the National Budget, exposing tensions within the coalition government. The delay sparked by disagreements over the proposed VAT increase, highlighted misalignment among partners in the Government of National Unity on key economic policies. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ What will Trump 2.0 mean for economic policy? The global outlook has deteriorated due to harsher-than-expected US tariffs, raising the risk of slowergrowth, higher inflation, and potential recessions in export-dependent economies. The Trump tariffsrepresent one of the most significant disruptions to global trade in decades. Federal Reserve Chair Jerome Powell has warned that Trump's tariffs could fuel higher inflation and slower growth. A weakening US outlook poses risks to global economic prospects. Accordingly, the outlook remains uncertain, with fears of a possible US recession. It is important to note that this situation remains fluid. We are actively tracking US-China trade relations and global economic indicators. We remain vigilant in navigating political risks in the months ahead. Closely monitoring developments in US trade policy and their implications for emerging markets will be key. Mark Phillips is the head of portfolio management and analytics at PPS Investments. Image: LinkedIn
IOL News
29-04-2025
- Automotive
- IOL News
Stock markets edge up as Trump softens tariff pain for auto firms
US President Donald Trump. Image: Erin Schaff / Getty Images / AFP Stock markets advanced on Tuesday following news that Donald Trump plans to spare automakers from some of his wide-ranging tariffs, boosting hopes of a less combative approach to his trade war. Signs of easing trade tensions are also spurring sentiment, as governments line up to negotiate deals with Washington to avert the full force of sweeping tariffs. "On tariffs, the latest newsflow was actually fairly positive at face value, as US officials continued to sound optimistic about potential trade deals," said Deutsche Bank managing director Jim Reid. "The rhetoric from the administration is still pointing towards negotiations, rather than further escalation," he added. European markets also reacted to a wave of first-quarter company earnings, with investors closely watching for signs of how tariffs are impacting business outlooks. Frankfurt rose 0.5 percent and London advanced 0.2 percent. Paris, however, slipped. Market sentiment was buoyed after the Wall Street Journal reported that the White House will spare automakers -- already facing 25-percent tariffs -- from further levies, such as those on steel and aluminium. The move is aimed at making sure the various tariffs Trump has unveiled do not stack up on top of each other. While uncertainty still rules on trading floors, most Asian markets also made tentative gains on Tuesday. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Hong Kong stocks advanced while Shanghai dipped after US Treasury Secretary Scott Bessent told CNBC that negotiations with China were ongoing but said that the ball was in Beijing's court. Seoul rose as auto makers Hyundai and Kia were boosted by the auto tariff news. Tokyo was closed for a holiday. Investors are also awaiting earnings from US tech titans this week, including Amazon, Apple, Meta and Microsoft. Also on the agenda are key economic indicators, including jobs creation and the Federal Reserve's preferred gauge of inflation amid warnings the tariffs could reignite prices. On currency markets, Canada's dollar held steady against its US counterpart as Prime Minister Mark Carney's Liberal Party won Canada's election. In company news, French electrical equipment company Schneider Electric shed almost eight percent in Paris after its results fell short of expectations. In London, oil major BP and retailer Associated British Foods both missed earnings estimates, shedding over three percent and six percent, respectively. British pharmaceutical giant AstraZeneca also lost over three percent as its increase in first-quarter profits failed to reassure investors.
