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Trump blames Biden's record after US economy shrinks

President Donald Trump lashed out at his predecessor's economic record Wednesday after US financial markets fell on the news that the American economy unexpectedly contracted in the first three months of the year.

Mexico avoids recession despite tariff uncertainty

Mexico's economy returned to growth in the first quarter of 2025, avoiding a recession despite deep uncertainty over US President Donald Trump's sweeping tariffs, official data showed Wednesday.

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Stocks drop after US economy contracts amid tariffs turmoil

Stock markets retreated into the red Wednesday after the US economy contracted in the first quarter, a stark reminder of the risks President Donald Trump's tariffs blitz could hold for the world's largest economy and its main trading partners.

India to ask caste status in next census for first time in decades

India will conduct its first official caste census since independence, the government announced on Wednesday, a move likely to have far-reaching consequences for its politics and contentious affirmative action policies.

More automakers drop earnings guidance over tariffs

Germany's Mercedes-Benz and US-European group Stellantis, whose brands include Jeep, Peugeot and Fiat, joined other automakers Wednesday in suspending their annual financial guidance because of uncertainty over US tariffs.

Stock markets mostly rise ahead of US economic data, tech earnings

Stock markets mostly rose Wednesday ahead of key US economic and earnings reports that could offer fresh insights into the health of the world's largest economy amid Donald Trump's tariffs.

German growth better than expected but tariff turmoil looms

Germany's struggling economy grew faster than expected at the start of the year, data showed Wednesday, in a boost for the incoming government of conservative Friedrich Merz even as US tariffs threaten to derail the nascent recovery.

Eurozone economy grows more than expected despite US tariff turmoil

The eurozone economy expanded more than expected at the start of the year, official data showed on Wednesday, despite US President Donald Trump's tariffs but global trade tensions threaten more pain and near stagnation in 2025.

Steelmaker ArcelorMittal warns of uncertainty

Steelmaker ArcelorMittal warned Wednesday that tariff uncertainty could cause further economic disruption as its global footprint helped it weather the turbulence in the first quarter.

Jeep owner Stellantis suspends outlook over tariffs

US-European auto giant Stellantis, whose brands include Jeep, Peugeot and Fiat, dropped its annual financial guidance on Wednesday due to uncertainty over US President Donald Trump's tariffs.

Aston Martin limits US car imports due to tariffs

British luxury carmaker Aston Martin Lagonda said Wednesday that it is limiting shipments to the United States after US President Donald Trump slapped 25-percent tariffs on car imports.

Most stock markets rise despite China data, eyes on US reports

Stocks mostly rose Wednesday ahead of key US economic and earnings reports, while traders took in their stride data showing Chinese factory activity contracted at its fastest pace for nearly two years as Donald Trump's trade war kicked in.

TotalEnergies profits drop as prices slide

TotalEnergies said Wednesday that its net profit fell in the first quarter despite expanding production, as a slide in global crude oil prices penalises the financial performance of energy firms.

Volkswagen says tariffs will dampen business as profit plunges

Europe's largest carmaker Volkswagen said Wednesday that first quarter profit plunged due to higher costs as it warned of muted business for the rest of the year in the wake of trade tensions.

Jeep owner Stellantis suspends 2025 earnings forecast over tariffs

Stellantis, the parent company of Jeep, Peugeot and Fiat, said Wednesday it was suspending its 2025 earnings forecast due to uncertainty caused by US tariffs.

French economy returns to thin growth in first quarter

France's economy returned to growth in the first three months of the year but the expansion was modest, held back by sluggish household consumption and stagnant investment, official data showed Wednesday.

Japan tariff envoy departs for round two of US talks

Tokyo's tariffs envoy departed Wednesday for a second round of negotiations in Washington, where Japan could offer concessions such as tweaking vehicle import procedures to secure relief from Donald Trump's trade levies.

Tunics & turbans: Afghan students don Taliban-imposed uniforms

Since the start of the school year in March, Afghan boys have been required to wear new uniforms of turbans and long tunics, following an order to adopt outfits reflecting Taliban rule.

Asian markets struggle as trade war hits China factory activity

Stocks started limply Wednesday as investors struggled to match Wall Street's rally, with data showing Chinese factory activity contracted this month at its fastest pace for nearly two years as Donald Trump's trade war kicked in.

Samsung Electronics posts 22% jump in Q1 net profit

South Korean tech giant Samsung Electronics reported a better-than-expected 21.7 percent rise in first-quarter net profit on Wednesday as consumers rushed to buy smartphones under the looming threat of US tariffs.

China's manufacturing shrinks in April as trade war bites

China's manufacturing activity shrank in April after growing at its highest rate in a year the previous month, official data showed Wednesday, as Beijing fights an intensifying trade war with the United States.

Financial markets may be the last guardrail on Trump

Since returning to the White House, Donald Trump has ushered in sweeping changes to international geopolitics and US government administration with little regard for norms that have constrained predecessors.

US growth figure expected to make for tough reading for Trump

US GDP figures for the first quarter are expected to show a sharp drop-off in growth -- and possibly even a recession -- reflecting a surge in imports before President Donald Trump's sweeping tariffs came into effect.

Weinstein sex attack accuser tells court he 'humiliated' her

Miriam Haleyi told jurors at Harvey Weinstein's sexual assault and rape retrial Tuesday that the mogul "humiliated" her and reduced her to tears, recounting to the court her ordeal, the disclosure of which fired the "MeToo" movement.

Global stocks mostly rise as Trump grants auto tariff relief

Global stocks mostly rose despite fresh signs of a tariff hit to corporate earnings, while Wall Street cheered President Donald Trump's moves to soften the levies hitting automakers.

Meta releases standalone AI app, competing with ChatGPT

Social media behemoth Meta unveiled its first standalone AI assistant app on Tuesday, challenging ChatGPT by giving users a direct path to its generative artificial intelligence models.

BRICS members blast rise of 'trade protectionism'

China, Brazil and other members of the BRICS grouping on Tuesday slammed the "resurgence of trade protectionism" at a meeting in Rio de Janeiro dominated by US President Donald Trump's tariffs blitz.

Trump praises Bezos as Amazon denies plan to display tariff cost

US President Donald Trump on Tuesday said Amazon founder Jeff Bezos "did the right thing" by stopping a plan to show consumers how much US tariffs add to each price tag.

Trump signals relief on auto tariffs as industry awaits details

The White House said Tuesday it will soften tariffs on automakers, sparking optimism in Detroit whose car manufacturing industry has been on tenterhooks awaiting details on President Donald Trump's fast-evolving policy.

Stocks advance as investors weigh earnings, car tariff hopes

Stock markets mostly advanced Tuesday as investors assessed the impact of tariffs on corporate earnings and digested a report that President Donald Trump might spare automakers from some of his levies.

Stocks waver as investors weigh earnings, car tariff hopes

Stock markets diverged Tuesday as investors assessed the impact of tariffs on corporate earnings and digested a report that President Donald Trump might spare automakers from some of his levies.

Spain starts probing causes of massive blackout

Spain on Tuesday began to investigate the causes of the crippling blackout that disrupted millions of lives across the Iberian Peninsula, with a court probing potential "sabotage" of critical infrastructure.

AstraZeneca moves some production to US amid tariff threat

British pharmaceutical giant AstraZeneca announced Tuesday that it has begun moving some of its European production to the United States, ahead of President Donald Trump's possible tariffs on the sector.

Pfizer profits dip on lower Paxlovid sales

Pfizer reported a dip in profits Tuesday, driven partly by lower sales of Covid-19 therapeutic drug Paxlovid, as it maintained a 2025 forecast that does not include potential tariff effects.

The Japan Times - Economy (English)