Chinese buyers are circumventing U.S. export controls to order Nvidia’s NVDA 1.92%increase; green up pointing triangle latest artificial-intelligence chips, illustrating the challenges the Trump administration will face in choking off cutting-edge American technology.
Traders in the country are selling computing systems with Nvidia’s Blackwell chips installed by routing them through third parties in nearby regions. Some sellers promise buyers delivery within six weeks.
Oil prices extended losses on Tuesday following reports that OPEC+ will proceed with a planned output increase in April and as U.S. tariffs on Canada, Mexico and China came into effect, as well as Beijing's retaliatory tariffs.
Brent futures were down $1.27, or 1.8%, at $70.35 a barrel by 1300 GMT while U.S. West Texas Intermediate (WTI) crude was off $1.10 cents, or 1.6%, at $67.27.
"The current downward trend in oil prices is primarily driven by OPEC+'s decision to increase output and the introduction of U.S. tariffs," said Darren Lim, commodities strategist at Phillip Nova.
China hit back against fresh U.S. tariffs on Chinese imports with a slate of retaliatory measures and set a target for strong growth of its economy this year, as Beijing signals to Washington that it can weather the renewed U.S.-China trade war.
Beijing announced a series of new tariffs on American products as well as controls on U.S. companies just as the White House’s additional 10% levy on all Chinese products came into effect.
President Trump had been hammering Panama for weeks over its most valuable asset, the Panama Canal, saying, without evidence, that China operated the waterway. There seemed to be no way Panama could get Washington off its back.
On Tuesday, Wall Street intervened.
An investment group led by BlackRock, a giant American asset manager, said it had agreed to buy two ports in Panama owned by a Hong Kong company that had become the focus of the tensions between Panama and Mr. Trump.
President Trump on Thursday suspended for one month the 25% tariffs he placed on Mexican and Canadian products earlier this week. But there is a catch: The deal only applies to goods that had been traded duty-free under a 2020 North American trade agreement.
That is less straightforward than it might seem, as the U.S.-Mexico-Canada Agreement sets forth an intricate and complex set of rules governing trade among the three countries. Thursday’s turnabout has trade experts and lawyers rushing to determine exactly what goods will be subject to higher tariffs, let alone businesses that have skin in the game.
Executives at some of the biggest U.S. consulting firms are meeting with Trump administration officials to defend their projects ahead of this coming week’s deadline for government agencies to justify major consulting contracts.
In recent days, top executives at professional services firms including Ernst & Young and Guidehouse have met with officials including Josh Gruenbaum, the Federal Acquisition Service commissioner within the General Services Administration, according to people familiar with the discussions. A Booz Allen BAH 7.51%increase; green up pointing triangle executive has also been in touch with Gruenbaum, who is a former director at the private-equity firm KKR.
Taiwan semiconductor company TSMC plans to make a fresh $100 billion investment in the United States that involves building five additional chip facilities there in coming years, its CEO announced with President Donald Trump on Monday.
Taiwan's dominant position as a maker of chips used in technology from cellphones and cars to fighter jets has sparked concerns of over-reliance on the island, especially as China ramps up pressure to assert its sovereignty claims.
President Donald Trump launched a trade war Tuesday against America’s three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China and sending financial markets into a tailspin as the U.S. faced the threat of rekindled inflation and paralyzing uncertainty for business.
Just after midnight, Trump imposed 25% taxes, or tariffs, on Mexican and Canadian imports, though he limited the levy to 10% on Canadian energy. Trump also doubled the tariff he slapped last month on Chinese products to 20%.
In the Austin area, specific types of publicly funded financial incentives have been used by municipalities to lure everything from a big Samsung Electronics Co. Ltd. campus and data center projects to speculative industrial parks and multiple Costco Wholesale Corp. locations.
Now, a Texas state senator is proposing sweeping changes to future uses of those incentives, a move economic development and business leaders contend would leave them without a valuable tool to attract business to the state — which has been a key driver of the Texas economy.
Tariffs against Mexico and Canada were recently put in place — and questions remain on how long they'll be in place — but the effects are already being felt along the border.
The 25% levies imposed on Mexican importers is creating issues for the intertwined produce-growing industry of South Texas and Mexico, according to Texas International Produce Association President and CEO Dante Galeazzi.
Nvidia (NVDA, Financials) will provide 64,000 AI chips for OpenAI and Oracle's (ORCL, Financials) $100 billion Stargate infrastructure project, with the first data center set to launch in Texas, Bloomberg reported, citing sources familiar with the matter.
Located near Abilene, the facility is scheduled to house Nvidia's GB200 chips; complete deployment by the end of 2026 is predicted. According to the story, the chips will be installed in stages to many data center halls; the first deployment is set for the summer of 2025.
Austin-based Tesla Inc. (Nasdaq: TSLA) plans to spend nearly $200 million for a new manufacturing facility near Houston, bringing at least 1,500 advanced manufacturing jobs to the area.
The Waller County Commissioners Court approved tax abatements on March 5 for Tesla’s new facility, with the abatement period beginning Jan. 1, 2026.
Southwest Airlines Co. is shutting down its Austin flight attendant base, which will move 150 jobs out of the city.
The company's satellite base at Austin-Bergstrom International Airport, which opened in 2018, will shut down by July 1, a spokesperson for the Dallas-based airline said. The decision was made to “further maximize our operational efficiency and reliability,” according to the spokesperson, and comes on the heels of Southwest's decision to lay off about 15% of its corporate workforce, or about 1,750 positions, as it aims to trim costs.
Ikea is opening a third store in the Austin area — this time on the south side of the metro.
The Netherlands-based home furnishing chain plans to open a 35,000-square-foot store at 917 State Highway 80 N. in San Marcos at the San Mar Plaza retail center. The store is slated to open in the spring, according to the company.
The new location will be a fraction of the size of its traditional store in Round Rock, which is 306,000 square feet. The smaller footprint is on trend with a different model Ikea has been gravitating towards.
The rise of artificial intelligence is expected to significantly disrupt about 38% of workers in Austin.
That's according to a new study by the Brookings Institution, which found AI will have a significant effect on 32% of workers nationally. That percentage represents the share of workers for which AI will change at least half of their work tasks in the near future.
The rise of artificial intelligence is expected to significantly disrupt about 38% of workers in Austin.
That's according to a new study by the Brookings Institution, which found AI will have a significant effect on 32% of workers nationally. That percentage represents the share of workers for which AI will change at least half of their work tasks in the near future.
Two hundred years ago, American families huddling on the East Coast packed up and left. They pushed across Appalachia, traversed the Mississippi River, and braved marauding bands terrorizing the Plains, all in search of the promised land—Texas, where there was fertile soil and room to grow.
Today, a similar migration is afoot—this time for American businesses huddling in Delaware. For decades, Delaware’s business climate was a model for the country. Its famed Chancery Court boasted jurists steeped in corporate law. Doctrines developed over a century formed the firm foundation for companies to do business and were models for courts and classrooms across the country. The First State was also a short train ride from Wall Street. Most of the Fortune 500 chose to make Delaware their first home.
