Economy News - LeadStory

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Dow slides after Trump threatens more China tariffs

The stock market is reacting to President Donald Trump's latest comments on social media about tariffs against China. CBS News' Natalie Brand reports.

CBS America

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U.S. shutdown expected to stretch into third week

The U.S. government shutdown has entered a prolonged phase, with hundreds of thousands of federal workers either furloughed or working without pay. Essential services, such as air traffic control, are experiencing strain due to staff sho...

Scripps Local

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Ethiopian coffee exports earn more than $500 million in two months

Ethiopia’s coffee industry has made a strong start to the fiscal year, exporting 80,000 metric tonnes of coffee in just two months. That’s brought in more than $540 million.

Africanews

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EU plans higher tariffs to save European steelworkers' jobs

For years, the European Commission was a strong advocate of free trade and low tariffs — at least when it came to industrial goods. But now, Brussels is shifting course and wants to increase tariffs on steel imports from around the world.

DW News

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Why Trump's tariffs threaten livelihoods of French winemakers

In France's Alsace region, wine is more than a drink. It’s history, identity, and tradition which are all on the line now as the trade dispute between the U.S. and Europe intensifies.

DW News

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China tightens rare earth export controls ahead of U.S. talks

China dramatically expanded its rare earths export controls on Thursday (October 9), adding five new elements and extra scrutiny for semiconductor users as Beijing tightens control over the sector ahead of talks between Presidents Donald...

Reuters

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Steel and aluminum tariffs drive up costs for everyday fasteners

Steel and aluminum tariffs are driving up costs for screws, nails and bolts by 30-50%, impacting construction projects and consumer goods prices.

Scripps News

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How the government shutdown impacts the U.S. economy

The government shutdown could affect parts of the U.S. economy and the decisions Americans make on taxes and other financial matters. CBS News' Jill Schlesinger has more.

CBS America

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U.S. foreclosure filings on the rise, report finds

As more U.S. homeowners struggle to keep up with mortgage payments and maintenance costs, new data shows the number of property foreclosures is steadily rising.

CBS America

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Foreclosure filings on the rise, report finds

As more U.S. homeowners struggle to keep up with mortgage payments and maintenance costs, new data shows the number of property foreclosures is steadily rising.

CBS America

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WTO raises 2025 global trade growth forecast

The World Trade Organization has raised its 2025 global trade growth forecast from 0.9% to 2.4%. The organization downgraded its forecast for 2026.

Africanews

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Cameroon faces rising poverty and frustration before elections

In Cameroon’s capital, traders and hawkers struggle as falling commodity prices and social inequality deepen economic hardship. Many young graduates are unemployed or forced into informal work to survive. Farmers face mounting debt afte...

Al Jazeera

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Costa Rica prioritizes Indo-Pacific trade over EU-Mercosur

Costa Rica sees the Indo-Pacific area as a priority over other regional trade deals, such as EU-Mercosur. An Indo-Pacific trade group, the CPTPP, could become the largest trading bloc in terms of GDP if new members — such as the EU — join.

Euronews

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Gold soars past record $4,000 level, driven by economic fears

Gold pushed through $4,000 an ounce to hit a record on Wednesday (October 8), driven by investors seeking safety from mounting economic and geopolitical uncertainty, alongside expectations of further interest rate cuts by the U.S. Federa...

Reuters

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Trump suggests some federal furloughed workers won't get back pay

In the Oval Office on Tuesday, President Trump suggested some federal workers wouldn't get back pay following the government shutdown, which contradicts a 2019 law passed by Congress stating all federal employees would get back pay after...

CBS America

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Soybean farmer on how trade war with China is impacting his business

Soybeans are the United States' largest agricultural export. As the trade war drags on, China, America's biggest buyer, hasn't purchased any this year. The Trump administration could announce a more than $10 billion bailout this week, bu...

CBS America

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Gold, precious metals surge amid flight to safety

Spot gold has topped $4,000 an ounce for the first time this year, with silver and platinum also rising. Experts say the rally reflects investors seeking safety amid growing market uncertainty.

Bloomberg

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Ivory Coast sets new cocoa price ahead of upcoming elections

President Alassane Ouattara has announced a record-high farm gate price for cocoa for the upcoming main harvest, ahead of presidential election on October 25 in which Mr. Ouattara is a candidate, seeking a fourth term.

Africanews

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Ray Dalio: Gold should make up 15% of your portfolio

Bridgewater Associates founder Ray Dalio recommends holding about 15% of investment portfolios in gold. He says the metal is a strong diversifier and hedge against economic uncertainty, emphasising its role in balanced investment strateg...

Bloomberg

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Kashkari warns rate cuts could trigger burst of inflation

Federal Reserve Bank of Minneapolis President Neel Kashkari warned that drastic interest rate cuts could spark a surge in inflation. Speaking at a panel on AI and the economy, he cautioned that rapid rate reductions risk overheating the ...

Bloomberg

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Soybean farmers feels strain of China trade war

It's prime harvest season in southern Illinois, but for soybean farmers like Scott Gaffner, what's usually a time of reward is now a season of worry.

CBS America

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Trump freeze on offshore wind project cuts lifeline for fisherman

In New Bedford, Massachusetts, Captain Jack Morris, a lifelong scalloper, had recently found steady work supporting offshore wind construction. But with the Revolution Wind project now frozen by the Trump administration, those jobs are o...

CBS America

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After two years of war, Israel faces economic headwinds

Despite ongoing war and political isolation, Israel’s economy has shown surprising resilience. The TA-125 stock index has rebounded to record highs, and GDP growth is forecast to rise, though war costs have reached nearly $89 billion.

France 24

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World Bank upgrades Sub-Saharan Africa growth forecast

The World Bank raised its 2025 growth forecast for the region to 3.8% from 3.5%.

Africanews

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Trump imposing new 25% tariff on large trucks starting Nov. 1

President Donald Trump said Monday that all medium- and heavy-duty trucks imported into the United States will face a 25% tariff rate starting November 1, a significant escalation of his effort to protect U.S. companies from foreign comp...

Reuters

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U.S. government shutdown raises fears of global uncertainty

The United States federal government entered a shutdown on Wednesday (October 1) after the Senate failed to agree on a last-minute spending bill.

Africanews

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Takaichi win jolts yen and Japanese government bonds

Sanae Takaichi’s victory in Japan’s LDP leadership race has shaken financial markets, affecting the yen and Japanese government bonds. Experts say the reaction may be overblown, highlighting uncertainty and volatility following political...

Bloomberg

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Mooncake mania boosts Hong Kong’s struggling restaurants

Hundreds of millions of people across Asia are celebrating the autumn harvest. In Hong Kong, a major staple for the festival are moon cakes - traditional pastries that symbolise unity and prosperity.

Al Jazeera

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Soybean farmers face steep losses: 'I'm in the worst shape right now'

The Trump administration could announce a multi-billion dollar financial relief package this week for farmers being hurt by the president's trade war with China. Soybean farmers fear they may be forced out of business.

CBS America

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AI chipmaker AMD strikes major deal with OpenAI

Microchip maker AMD got a huge boost in the race to supply the artificial intelligence revolution. OpenAI, the company behind major AI platform ChatGPT, announced a deal for AMD to provide the AI startup with its high-performance process...

CBS News