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TheUS Supreme Courton Friday ruled that PresidentDonald Trumpexceeded his authority when he invoked an emergency law to impose sweeping globaltariffs, sparking a tradewar and burdening American consumers and businesses with higher costs. The 6-3decision, authored by Chief Justice John Roberts, states that “nothing” in the text of the 1977 International Emergency Economic Powers Act (IEEPA)…
US President Donald Trump said he was considering a limited strike on Iran after ordering a major naval build-up in the Middle East aimed at heaping pressure on Tehran to cut a deal to curb its nuclear programme. The latest threat came after Iran’s foreign minister said a draft proposal for an agreement with Washington…
WASHINGTON — The US Supreme Court dealt a major blow to President Donald Trump’s trade agenda Friday, ruling the tariffs he issued under the International Economic Emergency Powers Act are illegal. Ina 6-3 decisionauthored by Chief Justice John Roberts, the court said Congress alone holds the power to tax in almost all circumstances. The Trump…
Two Chinese University of Hong Kong (CUHK) graduates have lost a judicial challenge against their disqualifications from an election for the institution’s advisory body, after their pro-independence views or convictions arising from the 2019 anti-government protests were cited as grounds for barring them. Walter Tse Wai-lok and Anthony Suen Ho-yin jointly applied for judicial review…
Kyiv said on Friday that 10 people were arrested in Ukraine and Moldova on suspicion of planning to assassinate senior Ukrainian political figures on Moscow’s orders, with payouts of up to US$100,000. Kyiv has previously accused Russia, which invaded Ukraine four years ago, of plotting to kill several senior officials, including President Volodymyr Zelensky and…
US Treasury Secretary Scott Bessent’s recent remarks before the Senate Banking Committee have quickly entered the global financial conversation. Asked whether China might be developing digital assets backed by gold rather than the renminbi, Bessent said he “would not be surprised,” citing Hong Kong’s large regulatory sandbox and the Hong Kong Monetary Authority’s active global…
The Hong Kong Observatory detected locally felt tremors from a 4.0-magnitude earthquake in Guangdong province on Friday afternoon, confirming more than 100 reports from residents. The weather forecaster’s initial analysis indicated that the 4.0-magnitude earthquake occurred at 2.28pm in Guangdong’s Yangjiang, with the epicentre located about 260km (161.6 miles) west-southwest of Hong Kong. The Observatory…
As the International Monetary Fund takes China to task, the world’s “lender of last resort” is grappling with a new legitimacy crisis. It used to be a one-size-fits-all response to financial crackups that earned the IMF global ire. From the 1997-98 Asian financial crisis to the lead-up to the 2008 “Lehman shock” to any number…
Subscribe nowwith a one-month trial for only $1, then enjoy the first year at an exclusive rate of just $99. Takaichi’s mandate to be put to the test by WashingtonScott Foster reports that despite a commanding domestic mandate, Takaichi faces mounting pressure from Washington over large-scale US-bound investments while pursuing an expansive techno-industrial growth strategy…
Driven by Chinese demand, Zimbabwe produced a record 352.7 million kilograms of tobacco – valued at about US$1.2 billion – in last year’s marketing season. This represents a major turnaround for an industry that, if not for Chinese investment, would have nearly collapsed two decades ago, although it remains a crop of concern for health…
