Mike Carney, leader of Canada’s Liberal Party, likely won a full term as Prime Minister, local broadcasters said on Monday following early vote counting in a tightly contested election.
The Canadian Broadcasting Corporation (CBC) said it was projecting a Liberal win in the elections, with the party set to win more of Parliament’s 343 seats than the Conservative party. But it was not immediately clear whether the Liberals will clinch a majority government. The Conservatives could also win a sizeable minority.
CTV declared a Liberal victory, albeit with a minority government.
Early counting showed the Liberal party with around 160 seats, while Conservatives held 138 seats.
Monday night’s polling potentially marks a rare fourth consecutive win for the Liberals.
The Federal Reserve may need to see signs of U.S. private credit market instability before it is in a state of "fear" that could prompt action from the central bank, according to analysts at Macquarie.
Policymakers have recently suggested that they are waiting for more clarity around the broader economic situation in the wake of erratic tariff measures from U.S. President Donald Trump.
Earlier this month, Trump moved to slap steep reciprocal tariffs on a host of countries, arguing that it was necessary to correct longstanding trade imbalances and increase federal revenues. However, he later announced a partial 90-day pause to the elevated levies on most of these nations, in an apparent response to deep turmoil in both stock and bond markets.
The White House then temporarily halted duties on a range of tech-related products, such as smartphones and computers, largely coming from China. Trump has also floated potentially granting exemptions to car-related imports.
Still, universal 10% tariffs on many countries remain in place, as well as trade taxes on items like steel, aluminum, autos and auto parts.
China was also left out of Trump’s reciprocal tariff delay, ratcheting up a trade spat between the world’s two largest economies. The president has placed a 145% tariff on imports from China, sparking a retaliatory 125% levy from Beijing.
Media reports, meanwhile, have suggested that sector-specific duties on electronic products, semiconductors and pharmaceuticals could soon be implemented. Commerce Secretary Howard Lutnick has said an investigation into these industries that may be a precursor to future tariffs could wrap up "in the next month or two."
Fed Chair Jerome Powell has said there has been a lot "waiting and seeing going on," including by the Fed, against this backdrop.
Powell added that this tactic seemed "like the right thing to do at a time of elevated uncertainty" -- a statement that was interpreted as an indication that the central bank may not rush to slash interest rates should the tariffs spark a broader economic crisis.
Most Asian stocks retreated on Wednesday as ersistent uncertainty over U.S. trade tariffs left investors wary of risk-driven markets, while technology shares were rattled by a warning from AI major Nvidia.
Hong Kong-listed Chinese internet stocks were the worst performers in the region, as more U.S. controls on chip exports to China raised questions over their artificial intelligence prospects.
Investors largely looked past stronger-than-expected gross domestic product data for the first quarter. GDP data for the coming quarters is expected to reflect the impact of a bitter trade war with the United States.
Broader regional markets took a weak lead-in from Wall Street, which closed slightly lower on Tuesday as trade and economic uncertainty remained in play. U.S. stock index futures slid in Asian trade, with NQM25 dropping 1.4% after Nvidia’s warning
Investing.com -- President Donald Trump and his family have rapidly expanded their presence across the cryptocurrency world, from nonfungible tokens (NFTs) and digital collectibles to a decentralized finance (DeFi) project, a proposed stablecoin, Bitcoin mining efforts, as well as the TRUMPo/USD memecoin.
According to Bloomberg News, the combined paper value of these crypto-related initiatives is approaching $1 billion, even after factoring in recent market volatility fueled by escalating trade tensions.
These estimates are based on publicly available data and reflect the growing financial footprint of Trump-affiliated blockchain ventures. While Trump is already the wealthiest individual to have held the U.S. presidency, thanks largely to his real estate holdings, his engagement with crypto has gained momentum in recent years.
By Heekyong Yang, Hyunjoo Jin and Francesco Guarascio
SEOUL/HANOI (Reuters) - When Samsung Electronics (KS:005930) chairman Jay Y. Lee met Vietnam’s prime minister in July, he had a simple message to convey.
"Vietnam’s success is Samsung’s success, and Vietnam’s development is Samsung’s development," Lee told Pham Minh Chinh, pledging long-term investment to make the country its biggest manufacturing base for display products.