Trump, canadian dollar and Tariff
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Lynas Rare Earths (OTCPK:LYSDY) (OTCPK:LYSCF), the largest rare earths producer outside China, soared as much as 20% to its highest level since mid-August 2022, on track for its best trading day since April 2020 after MP Materials' (MP) deal with the U.
The Indian rupee weakened on Thursday on the back of dollar bids from foreign banks and a broadly stronger greenback, after U.S. President Donald Trump continued to up the ante on tariffs by announcing a 35% levy on Canadian imports starting August 1.
The U.S. Department of Justice's Antitrust Division and the U.S. Federal Trade Commission cleared three deals that were together worth $63 billion in June, illustrating how FTC Chairman Andrew Ferguson and DOJ antitrust head Gail Slater are taking a different tack from their predecessors.
Chinese nationals allegedly operated a marijuana ring using quiet homes as grow houses, withholding workers' passports until debts were paid, the DOJ says.
NPR reported that Harvard University economics professor Kenneth Rogoff said the dollar hasn't weakened this much since then-President Richard Nixon canceled the convertibility of the dollar to gold in the 1970s.
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Chinese traders are pulling back from the dollar, helping ease a shortage that has rattled the banking system and setting the yuan up for further gains.
The Canadian dollar edged higher against its U.S. counterpart on Thursday but the move was modest as the greenback notched broad-based gains and after new U.S. trade tariffs cast doubt about prospects of a trade deal this month between Canada and the United States.
The U.S. dollar has sold off this year amid uncertainty surrounding tariffs and the government’s budget, yet the greenback is "far from becoming irrelevant," according to Wells Fargo Investment Institute.
A New Jersey real estate investor and influencer has been charged with committing a multi-million-dollar Ponzi-like fraud scheme, conspiring to launder drug proceeds and bribing a New Jersey politician,
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WDKY Lexington on MSNLawmakers question future of Kentucky’s billion-dollar broadband projectBut a dispute between the state and cable provider Accelecom threatens access for Kentuckians who rely on the network. The Louisville FOX affiliate, WDRB, reported that the state agency overseeing the project blames Accelecom, saying much of the network is unused, under-leased, and failing to recoup its billion-dollar cost to taxpayers.
A troubling shift in the dollar’s trading relationship with U.S. stocks has eased somewhat over the past few weeks.