The United States on Friday imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including the EU and China, alleging those countries failed to curb imports made by forced labor, just as a temporary 10% global tariff expired.

The administration announced extra tariffs of 10% to 12.5% on 60 economies, saying the countries had failed to adequately enforce a ban on goods made with forced labor.

New U.S. tariffs on 60 economies take effect Friday, in the latest recourse by President Donald Trump’s Administration to impose alternative taxes on imported goods after the Supreme Court struck down most of his aggressive ones earlier this year.

China was among 60 countries hit with new Section 301 tariffs as President Trump links trade penalties to forced labor.

Brent oil's price jumped above $100 per barrel for the first time since May as increased fighting in the Middle East threatens to slow the global flow of crude

U.S. oil just topped $90 a barrel and Brent crude is passed $100 a barrel. A number of new factors could mean this crude comeba

Brent crude oil briefly topped $100 per barrel for the first time since May as increased fighting in the Middle East threatens to slow the global flow of crude. Wall

Houthi strikes on Saudi tankers pushed Brent past $100 and Treasury yields to an 18-month high, while an AI spending jitters punished Tesla and Alphabet.

The U.S. war with Iran escalated and global oil prices surged again Thursday as Iran-backed Houthis in Yemen attacked two Saudi oil tankers in the Red Sea.

The Iran-backed Houthis claimed their first attack on commercial ships in recent months, opening a new front in the US-Iran war that has already disrupted global energy supplies and rattled bond markets.

The US conducted more strikes on Iran as both sides traded threats. Meanwhile the Iran-backed Houthis claimed to have struck two Saudi oil tankers in the Red Sea. Follow for live news updates.

The Saudi authorities had yet to confirm the hits, which would be the first attacks since the Iranian-backed Yemeni group announced a blockade on Saudi Arabia.

The European Central Bank is still more likely to increase borrowing costs than to hold them steady, according Governing Council member Gediminas Simkus.

The European Central Bank left interest rates unchanged at 2.25 per cent on Thursday, despite a renewed surge in oil prices. The widely expected decision comes six weeks after the ECB lifted borrowing costs by a quarter point,

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The latest flare-up in fighting didn’t force the European Central Bank’s hand on Thursday, even as energy costs creep higher.

AI infrastructure buying shift among customers impacted z17 performance in Q2, but the Big Iron remains a critical AI platform, IBM says.

IBM (NYSE:IBM) lowered its revenue growth expectations for 2026 after weaker demand for data-centre mainframe systems weighed on quarterly performance, although the company maintained confidence in its profitability and long-term artificial intelligence strategy.

Many on Wall Street anticipated that IBM would cut its outlook after the company reported preliminary earnings last week that showed weak sales for its infrastructure and associated software.

While other tech giants spend on AI data centers, Big Blue aims to keep selling mainframes and pour profits into quantum computing.

Gold (XAUUSD:CUR) slipped further on Friday in Asian trading following a 2% drop in the prior session, as Brent crude (CO1:COM) rising above $100 a barrel renewed inflation worries and bolstered expectations for higher interest rates ahead of next week's Fed meeting.

Gold prices traded close to a two-week high on Thursday as markets balanced rising geopolitical tensions in the Middle East against growing expectations that higher energy prices could keep inflation elevated and influence the Federal Reserve’s next policy decision.

Gold ​ticked higher on Friday, reversing earlier losses as oil retreated below ‌the $100 per barrel mark, with investors monitoring developments in the Middle East for fresh cues on energy-driven inflationary risks and the outlook for U.

Front-month gold and silver futures both declined, with gold falling 2.4% to $4,046.50 a troy ounce and silver down 3.7% to $57.798/oz.