Trump says US interest rates should be at least two to three points lower
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RTHK
2 hours ago
- RTHK
Trade on agenda as Trump lands in Scotland
Trade on agenda as Trump lands in Scotland Donald Trump takes questions after landing in Scotland. Photo: Reuters US President Donald Trump landed in Scotland on Friday for a five-day visit set to mix diplomacy, business and leisure, as a huge UK security operation swung into place amid planned protests near his family-owned golf resorts. The president, whose mother was born in Scotland, will split his time between two seaside golf courses bearing his name, in Turnberry on the southwestern coast and Aberdeen in the northeast. Air Force One, carrying the president and White House staff, touched down at Prestwick Airport near Glasgow shortly before 8:30 pm (1930 GMT). Police officers lined surrounding streets and several hundred curious Scots came out hoping for a glimpse of the US leader as he made his way to Turnberry. Trump has no public events scheduled for Saturday and is expected to play golf at his picturesque resort, before meeting EU chief Ursula von der Leyen on Sunday for trade talks. Trump is also due to meet UK Prime Minister Keir Starmer during the trip. "We're going to do a little celebrating together, because we got along very well," Trump told reporters as he left the White House on Friday, calling Starmer "a good guy" doing "a very good job." He said they would discuss "fine tuning" the bilateral trade deal struck in May, and would "maybe even improve it." But the unpredictable American leader appeared unwilling to cede to a UK request for reduced steel and aluminium tariffs. Trump has exempted British exports from blanket 50 percent tariffs on both metals, but the fate of that carve-out remains unclear. "If I do it for one, I have to do it for all," Trump told reporters, when asked if he had any "wiggle room" for the UK on the issue. The international outcry over the conflict in Gaza may also be on the agenda, as Starmer faces growing pressure to follow French President Emmanuel Macron and announce that Britain will also recognise a Palestinian state. (AFP)
RTHK
2 hours ago
- RTHK
US stocks see more all-time highs on US trade deals
US stocks see more all-time highs on US trade deals Wall Street is also looking ahead to a heavy earnings calendar next week. Photo: Reuters The S&P 500 and Nasdaq finished at fresh all-time records on Friday amid optimism over US trade deals, concluding a winning week on a positive note. Markets stayed hopeful that US President Donald Trump's trade deal with Japan this week will be followed by accords with other major trading partners, averting major tariffs due at the White House's August 1 deadline. Investors have also greeted generally benign data that suggest the US economy is on solid ground, said Angelo Kourkafas of Edward Jones. "That might change in the months ahead, but for now, we have an economy that is holding up," Kourkafas said. The S&P 500 finished at 6,388, up 0.4 percent, its fifth straight closing record. The Nasdaq rose 0.2 percent to 21,108, closing at a third straight record, while the Dow Jones climbed 0.5 percent to 44,901. Besides trade negotiations, investors are looking ahead to a heavy earnings calendar next week, with Apple, Amazon and other large tech companies reporting results. Those are the market's largest companies, "so any hiccups there will have an implication for the broader market," Kourkafas said. Among individual companies, Intel dropped 8.5 percent after reporting a US$2.9 billion loss as it announced further cost-cutting initiatives. The company said it has cut about 15 percent of its workforce. But Deckers Outdoor surged 11.4 percent after reporting better than expected results. Revenues at the footwear retailer jumped 16.9 percent to US$964.5 million. (AFP)
South China Morning Post
2 hours ago
- South China Morning Post
Chinese eyeing US degrees turn more discerning – is the opportunity still worth the risk?
Jason Lin of Xiamen surprised his mother this year by applying to 10 undergraduate schools in the United States and receiving a US$15,000 annual scholarship from Brandeis University near Boston. There, he intends to earn a master's degree in economics over the next five years. But to his mother, it's like he's venturing into the wild, compounding the anxiety parents often feel when their adult children leave the nest. She's afraid of 'instability' in the US. And Lin, 19, has concerns that even a traffic ticket could get him deported. But he weighed the pros and cons, laid it all on the table for his mother, and decided on Brandeis in time for the coming fall semester. Despite a sharp increase in US-China tensions this year, Chinese students such as Lin are still pursuing American higher education much as they have in the past, but they are being more selective than before, according to applicants and university officials. 'Basically, the thought of going to the States came to me when I was in ninth grade,' Lin explained. He expects more academic freedom in the US than in other countries and recalls the 'vibe' in New York when he visited as a tourist. Well-known schools, highly ranked programmes associated with the majors of students' choices, and flexible financial aid packages have become bigger draws. And if the university campus is located in a relatively safe American city, it gets bonus points in the selection process among Chinese applicants. 'The US does have the pre-eminent global research universities, for now at least,' said Rory Truex, an assistant professor with Princeton University's Department of Politics. 'And many students are willing to take the risks to get access to that opportunity.'
