Nordic, Permira to Take Bavarian Private for $3 Billion
The offer price of 233 kroner in cash is a 21% premium to Wednesday's close, Bavarian said in a statement Monday. The board backed what it called an 'attractive proposal.'
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Yahoo
24 minutes ago
- Yahoo
Trump's New EU Trade Deal Labeled 'Bad News' By Economists As Dow Futures Spike Over 150 Points
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. President Donald Trump's latest trade deal with the European Union is drawing sharp criticism from several leading economists, who argue that it will disproportionately harm American consumers and businesses. What Happened: Following Trump's announcement on Sunday, economist Peter Schiff posted on X, with a blunt assessment of the deal, saying that 'Americans lose again.' Schiff says that under the new terms, 'we will pay 15% tariffs to buy most European goods, but 50% tariffs to buy European steel, aluminum, or copper, driving up material costs for many U.S industries.' Meanwhile, he notes, 'Europeans won't pay any tariffs on most U.S. imports.' Trending: Be part of the breakthrough that could replace plastic as we know it—University of Michigan economist Justin Wolfers echoed similar concerns, while highlighting the folly of imposing trade barriers. 'These trade deals are all underwhelming for one simple reason,' he says, and that's because trade barriers and tariffs have been tiny for decades. 'When tariffs are 1-2%, there's not much to gain from a trade war,' he says, while warning that a 15% tax on imports can, however, 'do a lot of harm to Americans.' Danish economist Lars Christensen pushed back against the narrative that this was a bad deal for the EU and a win for Trump. He says, 'the deal lower[s] EU tariffs,' which he believes is 'good news for European consumers,' while adding that it is bad for the U.S. economy. Christensen agrees with both Schiff and Wolfers, saying that 'the biggest losers are US consumers,' while comparing the deal to 'shooting yourself in the foot' for the U.S., which he says 'is never a victory.'Why It Matters: The announcement of the trade deal with the EU on Sunday brought an end to months of trade and tariff-related uncertainties with the U.S.'s biggest trading partner. Besides the 15% tariff on imports from the region, the EU will also be buying $750 billion worth of U.S. energy, while investing $600 billion in the United States. Additionally, nations in the bloc will be purchasing weapons from the U.S., although no amount was mentioned. Meanwhile, top officials from the U.S. and China are set to meet in Stockholm to address pressing trade issues, with Trump saying last week that 'We have the confines of a deal with China.' U.S. stock futures are up pre-market, following news of the trade deal over the weekend. The S&P 500 Futures are up 0.37%, trading at 6,449.00, and Nasdaq Futures at 23,538.25, up 0.50%, followed by Dow Futures, which rose over 150 points, up 0.33%, trading at 45,234.00, at the time of writing. Photo Courtesy: Savvapanf Photo on Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? This article Trump's New EU Trade Deal Labeled 'Bad News' By Economists As Dow Futures Spike Over 150 Points originally appeared on
Bloomberg
26 minutes ago
- Bloomberg
Taiwan Investors Turn to Europe as US Assets Lose their Allure
Taiwanese investors are reassessing their long-held preference for US-dollar assets, shifting their bets to Europe in the latest move by global investors away from the greenback. Taiwanese funds holding European assets have seen an influx of investments recently, pushing their combined value to NT$13.7 billion ($463 million) as of the end of June, the highest since 2019, according to data compiled by Bloomberg.
Yahoo
an hour ago
- Yahoo
Euro under pressure as US-EU trade deal fails to impress
By Rae Wee SINGAPORE (Reuters) -The euro struggled to recoup its steep losses on Tuesday as investors sobered up to the fact that terms of the trade deal between the U.S. and the European Union favoured the former and hardly lifted the economic outlook of the bloc. France, on Monday, called the framework trade agreement a "dark day" for Europe, saying the bloc had caved in to U.S. President Donald Trump with an unbalanced deal that slapped a headline 15% tariff on EU goods. German Chancellor Friedrich Merz said his economy would suffer "significant" damage due to the agreed tariffs. The euro slid 1.3% in the previous session, its sharpest one-day percentage fall in over two months, on worries about growth and as euro-area government bond yields fell. The common currency last traded 0.07% higher at $1.1594. "It hasn't taken long for markets to conclude that this relatively good news is still, in absolute terms, bad news as far as the near term implications for euro zone growth are concerned," said Ray Attrill, head of FX research at National Australia Bank. "The deal has been roundly condemned by France while others - including German Chancellor Merz, are playing up the negative consequences for exporters, and with that, economic growth." The slide in the euro in turn boosted the dollar, which jumped 1% against a basket of currencies overnight. The dollar held on to gains on Tuesday and knocked sterling to a two-month low of $1.3349. The yen edged marginally higher to 148.49 per dollar. The dollar index steadied at 98.67. "While the U.S. dollar's strength... may reflect the perception that the new U.S.-EU deal is lopsided in favour of the U.S., the U.S. dollar's strength may also reflect a feeling that the U.S. is re-engaging with the EU and with its major allies," said Thierry Wizman, global FX and rates strategist at Macquarie Group. Still, Trump said on Monday most trading partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he set in April. Elsewhere, the Australian dollar eased 0.05% to $0.6518, while the New Zealand dollar was little changed at $0.5972. The offshore yuan was little changed at 7.1813 per dollar. Top U.S. and Chinese economic officials met in Stockholm on Monday for more than five hours of talks aimed at resolving long-standing economic disputes at the centre of a trade war between the world's top two economies, seeking to extend a truce by three months. Apart from trade negotiations, focus this week is also on rate decisions from the Federal Reserve and the Bank of Japan (BOJ). Both central banks are expected to stand pat on rates, but traders will watch subsequent comments to gauge the timing of their next moves.
