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Cosmetics maker L’Oreal agreed to acquire a majority stake in British skincare brand Medik8, in a strategic move to strengthen its presence in the booming skincare market. The French beauty

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Top US and Chinese officials met in London on Monday in fresh efforts to stabilise the fragile pause in their trade fight, which has shaken global markets. The Chinese delegation,

BEML Limited has signed three licensing agreements with the Defence Research and Development Organisation’s vehicles research and development establishment (VRDE) to manufacture critical support and mobility systems for the army’s

Pakistan FM said that GDP growth increased from -0.2pc in 2023 to 2.5pc in 2024. (AI image) Pakistan’s total debt has risen to PRs 76,000 billion during the initial nine

Cosmetics maker L’Oreal agreed to acquire a majority stake in British skincare brand Medik8, in a strategic move to strengthen its presence in the booming skincare market. The French beauty

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Amazon on Monday announced a $20 billion investment to develop two data centre complexes in Pennsylvania, adding to the billions of dollars that Big Tech’s have already poured into the

Tech stocks sink after Trump tariff rollout; Apple leads drop

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CEO of Meta and Facebook Mark Zuckerberg, Lauren Sanchez, Amazon founder Jeff Bezos, Google CEO Sundar Pichai, and Tesla and SpaceX CEO Elon Musk attend the inauguration ceremony before Donald Trump is sworn in as the 47th U.S. president in the U.S. Capitol Rotunda in Washington, Jan. 20, 2025.

Saul Loeb | Via Reuters

The drop in technology stocks came amid a broader market selloff spurred by fears of a global trade war after Trump unveiled a blanket 10% tariff on all imported goods and a range of higher duties targeting specific countries after the bell Wednesday. He said the new tariffs would be a “declaration of economic independence” for the U.S.

Companies and countries worldwide have already begun responding to the wide-sweeping policy, which included a 34% tariff on China stacked on a previous 20% tax, a 46% duty on Vietnam and a 20% levy on imports from the European Union.

China’s Ministry of Commerce urged the U.S. to “immediately cancel” the unilateral tariff measures and said it would take “resolute counter-measures.”

The tariffs come on the heels of a rough quarter for the tech-heavy Nasdaq and the worst period for the index since 2022. Stocks across the board have come under pressure over concerns of a weakening U.S. economy. The Nasdaq-100 ETF was last down more than 4%.

Trump applauded some megacap technology companies for investing money into the U.S. during his speech, calling attention to Apple’s plan to spend $500 billion over the next four years.

Evercore ISI's Amit Daryanani on keeping Apple's outperform rating despite tariffs



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