Browsing: Business

Job openings dropped 30% while U.S. stocks climbed 70%, revealing a deep economic divide driven by Federal Reserve policy, not artificial intelligence.

NEW YORK, Nov. 4, 2025: Pfizer Inc. reported third-quarter earnings that exceeded market expectations and raised its full-year profit forecast despite continued declines in sales from its COVID-19 products. The results reflected solid cost management and stronger performance from key non-COVID medicines, which helped offset falling pandemic-related revenue. For the quarter ended September 30, Pfizer posted total revenues of US$16.65 billion, a 6 percent decrease from US$17.70 billion in the same period a year earlier. The company said the operational revenue decline, excluding foreign exchange effects, was approximately 7 percent. Reported net income for the quarter was US$3.54 billion, compared with US$4.47 billion in…

SEATTLE/SAN FRANCISCO, Nov. 3, 2025: Shares of Amazon Inc. surged to an all-time high on Monday following the announcement of a major cloud services agreement with OpenAI. The agreement is valued at approximately US$38 billion and spans seven years. Under the deal, OpenAI will gain access to hundreds of thousands of high-performance NVIDIA GPUs and an ability to scale to tens of millions of CPUs through Amazon Web Services (AWS) infrastructure. The companies stated that OpenAI will begin utilizing AWS compute resources immediately, with full deployment targeted by the end of 2026 and expansion into 2027 and beyond. Amazon’s stock price rose by roughly 5 percent on the news, reflecting…

Warren Buffett’s Berkshire Hathaway posted strong Q3 earnings with profit up 34% and a record $381.7 billion cash pile amid steady insurance performance.

BUSAN, South Korea, October 31, 2025: A new trade arrangement between the United States and China was announced during the Asia-Pacific Economic Cooperation (APEC) Summit, reflecting a pause in bilateral tensions but leaving major disputes unresolved. The agreement includes short-term tariff relief and a one-year extension of rare earth exports from China to the  United States, but lacks permanent commitments or mechanisms for enforcement. U.S. President Donald Trump and Chinese President Xi Jinping met on the sidelines of the summit to formalize the deal, which lowers U.S. tariffs on a range of Chinese goods from an average of 57 percent to 47 percent. Tariffs on Chinese exports linked…

SEATTLE, Oct. 31: Amazon Inc. on Thursday reported third-quarter results for the period ended September 30, 2025, showing net sales of US$180.2 billion, a 13 percent increase from US$158.9 billion in the same period a year earlier. Excluding a favorable foreign-exchange impact of about US$1.5 billion, sales rose approximately 12 percent. The North America segment recorded sales of US$106.3 billion, up 11 percent year-on-year, while the international segment logged US$40.9 billion in sales, up 14 percent (10 percent excluding currency effects). The cloud computing unit, Amazon Web Services (AWS), posted revenue of US$33.0 billion, representing a 20 percent increase compared with the…

WASHINGTON, Oct. 27, 2025: President Donald Trump announced that the United States will impose an additional 10 percent tariff on Canadian imports, escalating trade tensions following a television advertisement produced by Ontario that used footage of former President Ronald Reagan criticizing tariffs. The move adds to a series of U.S. trade measures that have disrupted economic relations between Washington and Ottawa this year. The announcement followed Trump’s decision a day earlier to suspend all trade negotiations with Canada. The president said the Ontario government’s ad misrepresented Reagan’s views and called it “a hostile act.” The 1987 footage was taken from a speech Reagan delivered during his second term, in which he spoke broadly about…

SEOUL, October 26, 2025: U.S. President Donald Trump began a high-stakes visit to Asia focused on trade relations and ongoing tensions with China, marking his first official trip to the region since returning to office. The week-long tour will include stops in Malaysia, Japan, and South Korea, culminating in a meeting with Chinese President Xi Jinping on the sidelines of the APEC Summit in Seoul. The White House confirmed that the meeting between Trump and Xi has been scheduled to address a range of trade and economic issues. It will be their first in-person discussion since Trump resumed the presidency in January. The trip follows months…

WASHINGTON, October 25, 2025: U.S. President Donald Trump announced Friday that all trade negotiations with Canada  have been terminated following the release of a controversial advertisement by the Government of Ontario that featured former President Ronald Reagan criticizing tariffs. The advertisement, part of a $54 million campaign funded by the Ontario government, included edited footage from a 1987 Reagan speech in which he described tariffs as harmful to American workers and consumers. Trump denounced the ad as “fake” and “egregious,” alleging that it misrepresented Reagan’s words and misused his image without authorization. In a statement posted on his Truth Social platform, Trump said the ad interfered with…

Washington, October 25, 2025: The United States annual inflation rate rose to 3.0 percent in September, up slightly from 2.9 percent in August, according to data released by the Bureau of Labor Statistics (BLS). On a monthly basis, the Consumer Price Index (CPI) increased 0.3 percent, reflecting a steady rise in consumer prices across several key categories. Core inflation, which excludes the volatile food and energy components, also registered a 3.0 percent year-over-year increase, with a 0.2 percent monthly gain. These figures indicate that inflation remains above the long-term target of 2.0 percent, although price growth has slowed compared to levels recorded in 2022 and early…