business news

Trump’s trade fight and the unwinding of a $3 billion bet are clobbering copper

Copper prices on the London Metal Exchange slipped below $6,000 for the first time in a year Thursday. Analysts say trade escalations are weighing on a market already under pressure. An unwinding of a $3 billion long position put pressure on prices earlier this month.  Follow copper in real time …

business news

Trump threatens to slam a massive tariff on European cars, which could cause economic chaos

President Donald Trump on Friday threatened to impose a 20% tariff on imports of cars from the European Union. The move would be a huge escalation of Trump’s ongoing trade conflict with the EU. Trump already hit Europe with steel and aluminum tariffs, angering EU leaders and triggering retaliation. President …

business news

Bitcoin’s rough patch looks like the Nasdaq during the tech bubble — except it’s moving 15 times faster

Bitcoin fell as much as 70% from its mid-December high through its recent early-February low. The cryptocurrency’s price chart mirrors that of the Nasdaq Composite Index during the dotcom bubble era, but there’s a catch. Historical fluctuations in the Nasdaq should provide a template for how bitcoin will trade going …

business news

‘China is not afraid’: China strikes back at Trump with new tariffs as trade fight escalates

President Donald Trump announced new tariffs on $50 billion worth of Chinese goods on Thursday. Chinese officials strongly condemned the move. “China does not want a trade war with anyone,” said the Chinese Embassy in Washington, DC. “But China is not afraid of and will not recoil from a trade …

business news

Bill Ackman reportedly cashes out of his Nike investment after making about $100 million

Pershing Square CEO Bill Ackman has cashed out his stake in Nike after making about $100 million, according to Dow Jones.  Ackman recently exited a years-long bet in Herbalife that reportedly cost him hundreds of millions of dollars.  The apparel maker is set to report earnings after the market close …