Latest news with #Dollar
The Star
3 days ago
- Business
- The Star
Crypto firm BitGo confidentially files for US IPO
FILE PHOTO: Representations of virtual cryptocurrencies are placed on U.S. Dollar banknotes in this illustration taken November 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -BitGo, a provider of trust and security services for digital assets, said on Monday it has confidentially filed for a U.S. listing, as crypto firms race to capitalize on renewed market momentum. Several high-profile companies, including those in riskier sectors like crypto and fintech, have launched successful listings in recent weeks, signaling pent-up demand and a rebound in capital markets activity. BitGo's announcement follows the crypto sector's market value hitting $4 trillion last week, driven by renewed optimism, regulatory clarity in key markets, and rising institutional inflows. The number of shares to be offered and the price range for the proposed initial public offering have not yet been determined, BitGo said. (Reporting by Manya Saini in Bengaluru; Editing by Leroy Leo)
Economic Times
5 days ago
- Business
- Economic Times
'Never let anyone to play games with us...': Trump ridicules BRICS, issues 10% tariff threat
US President during his speech before signing 'GENIUS ACT' said, "... This (The Genius Act) is really strengthening the US Dollar and giving the Dollar a great prominence. There is a little group called BRICS, and it is fading out fast. But BRICS tried and wanted to take over the Dollar and the dominance of the Dollar and the standard of the Dollar. I said that anybody in the BRICS consortium of nations, we are going to tariff you 10% and they had a meeting the following day, and almost nobody showed up... We are not going to let the Dollar slide... If we lost the status of the Dollar as the world's reserve currency, it would be like losing a World War... When I heard about this group of six countries in BRICS, I hit them very hard, and if they ever really form in a meaningful way, it will end very quickly..." Show more 03:38 03:48 02:13 02:30 18:02 08:33 14:04 08:33 03:56 05:35 04:01 11:10 09:37 08:08 10:59 08:14 03:07 06:45 03:26 12:54 08:54 05:39 03:50 12:38 08:41 03:32 09:30 09:56 08:49 09:04 03:06 13:25
News18
5 days ago
- Business
- News18
'Little Group Fading Fast': Trump Mocks BRICS In Latest Remark, Repeats 10% Tariff Threat
Last Updated: Donald Trump took credit for undermining the BRICS group's attempts to challenge the global dominance of the US dollar, vowing that he would never let that happen. US President Donald Trump on Friday mocked the BRICS bloc as a 'little group" that is 'fading out fast" and reiterated his warning of a 10 per cent tariff on countries aligning with it, accusing them of supporting 'anti-American policies." Trump further took credit for undermining the bloc's attempts to challenge the global dominance of the US dollar, vowing that he would never let that happen. 'There is a little group called BRICS, and it is fading out fast. However, BRICS attempted to challenge the dominance of the Dollar and its standard. I said that anybody in the BRICS consortium of nations, we are going to tariff you 10 per cent, and they had a meeting the following day, and almost nobody showed up," said Trump while speaking at the signing of the GENIUS Act into law. #WATCH | US President Donald Trump says, '… This (The Genius Act) is really strengthening the US Dollar and giving the Dollar a great prominence. There is a little group called BRICS, and it is fading out fast. But BRICS tried and wanted to take over the Dollar and the… — ANI (@ANI) July 18, 2025 Donald Trump, taking firm stance toward global economic competitors, said, 'When I heard about this group of six countries in Brics, I hit them very hard, and if they ever really form in a meaningful way, it will end very quickly." Though he didn't name the nations, Trump added, 'We can never let anyone play games with the US." He also stressed the importance of maintaining the US Dollar's global reserve status. 'We are not going to let the Dollar slide… If we lost the status of the Dollar as the world's reserve currency, it would be like losing a World War." Former U.S. President Donald Trump has also targeted Brazil with new trade penalties, announcing a 50% tariff on imports beginning in August over what he described as 'unfair" trade practices. This follows his earlier July 6 declaration of a 10 per cent tariff on any nation aligning with the BRICS group. The BRICS group, originally formed in 2009, is a coalition of emerging economies comprising Brazil, Russia, India, China, and South Africa (which joined in 2010). In 2024-25, the bloc expanded to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates, bringing the total number of member countries to 11. BRICS was established with the goal of promoting peace, development, and a more balanced global order by strengthening economic cooperation among developing nations. Over the years, it has positioned itself as a counterweight to Western-led institutions like the G7 and the IMF, advocating for a multipolar world and reforms in global governance systems. The bloc also promotes the use of local currencies in trade. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Yahoo
5 days ago
- Business
- Yahoo
Could the Pentagon's $550 Million Bet on Rare Earths Signal the Next Market Boom?
The Pentagon just made one of its biggest strategic investments in U.S. mining in recent history, and it's worth a closer look for investors. In a bold move to secure America's supply of rare earth elements, the Department of Defense purchased a 15% equity stake in MP Materials (MP) — the only major rare earth mining company operating in the U.S. The deal includes a staggering $400 million in stock, plus a $150 million government loan. More News from Barchart Solid US Economic News Lifts the Dollar Dollar Climbs on Signs the US Economy Is Holding Up Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! So what's going on here? Rare Earths Are the New Gold Rush Rare earth elements are essential to powering everything from: iPhones and EVs Drones and military jets Missile guidance systems and nuclear submarines And 90% of the world's rare earths? They come from China — the very country the U.S. is competing with in the global artificial intelligence (AI) and defense race. That's why this investment in MP stock isn't just a mining play. It's a national security move. What Do They Know That You Don't? The U.S. Department of Defense plans to continue investing in critical minerals projects to ensure a domestic supply for weapons and many electronics. Just 6 miles north of MP's Mountain Pass mine lies a tiny, overlooked project run by Dateline Resources (DTREF), a microcap mining stock with both gold and rare earth exposure at its Colosseum project. Some analysts believe it may be geologically identical to MP's massive mine — a 'carbon copy,' in the words of insiders. And with China recently hiking rare earth prices by 14%, retail traders and hedge funds are starting to take notice. Apple's $500 Million Bet Apple (AAPL) also just inked a $500 million deal with MP Materials to secure its rare earth pipeline — making this not just a government-backed investment, but a corporate supply chain priority, too. The Department of Defense has even introduced a price floor of $110/kg on rare earths, which could practically guarantee profits for approved suppliers. How to Find the Next Big Rare Earth Winner If this feels like a modern gold rush, it just might be. And Barchart has the tools to help you navigate it. Use Barchart's ETF Screener to track rare earth ETFs like REMX or URNM. Filter Mining Stocks by Market Cap, RSI, and Trend Seeker® to find potential small-cap breakouts like DTR or Lynas Rare Earths (LYSDY). Watch our full YouTube video breaking down how to use Barchart screeners to catch big moves early: Final Thought The Pentagon doesn't usually buy stock. When they do — especially in a critical industry — it's time to pay attention. Rare earths might not just power the next generation of defense tech… They could power your next winning trade, too. On the date of publication, Barchart Insights did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
5 days ago
- Business
- Time of India
‘Little group fading fast': Donald Trump mocks Brics; reiterates 10% tariff threat to protect US dollar dominance
US President on Friday mocked the Brics group as a 'little group' that is 'fading out fast'. He also reiterated his warning from earlier this month of a 10 per cent tariff on any nation aligning with Brics, which he described as following 'anti-American policies'. Tired of too many ads? go ad free now The MAGA chief also claimed credit for weakening the group's efforts to rival the US dollar's dominance. Speaking while signing the GENIUS Act into law, Trump said, 'There is a little group called Brics, and it is fading out fast. But Brics tried and wanted to take over the Dollar and the dominance of the Dollar and the standard of the Dollar. I said that anybody in the Brics consortium of nations, we are going to tariff you 10 percent and they had a meeting the following day, and almost nobody showed up.' Trump, speaking firmly about his approach to global economic rivals, added, 'When I heard about this group of six countries in Brics, I hit them very hard, and if they ever really form in a meaningful way, it will end very quickly.' Trump did not name the countries directly but said, 'We can never let anyone play games with us.' Trump said protecting the global reserve status of the US dollar is of the highest priority. 'We are not going to let the Dollar slide... If we lost the status of the Dollar as the world's reserve currency, it would be like losing a World War,' he said. 'GENIUS Act, They named it after me!': Trump Trump's comments came as he signed into law the S.1582 GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins Act), which sets up a regulatory framework for payment stablecoins. Trump hailed the law as a major step in cementing American leadership in global finance and cryptocurrency. Tired of too many ads? go ad free now 'This afternoon, we take a giant step to cement American dominance in global finance and Crypto technology, as we sign the landmark GENIUS Act into law,' Trump said. 'They named it after me. This is hell of an act!' Addressing the crypto community, Trump said, 'For years, you were mocked and dismissed and counted out... this signing is a massive validation of your hard work and your pioneering spirit and your ability to never give up... Congratulations on this incredible achievement!' He reiterated his commitment to prevent a US central bank digital currency. 'I also remain fully committed to my pledge never to allow the creation of a Central Bank Digital Currency in America. It won't happen,' he said. Treasury secretary Scott Bessent praised Trump's move, saying it would help maintain the US dollar's place as the global reserve currency. Brics denies being anti-American Meanwhile, Trump has singled out Brazil for additional penalties, including a 50 per cent tariff on imports starting in August, citing 'unfair' trade practices. He had earlier announced the 10 per cent tariff on July 6, targeting any country supporting Brics. The Brics group has recently expanded to include countries like Iran and Indonesia and has denied being anti-American. While Brazil has stepped back from pushing a common currency, the bloc continues to develop Brics Pay, a cross-border payment system aimed at promoting trade in local currencies. Despite Trump's repeated claims, no evidence has been presented to show Brics aims to undermine the dollar or harm the US.
