Thursday's News Links

[CNBC] Dow futures rise after Trump announces U.S.-UK trade deal: Live updates

[AP] US and UK are expected to announce a trade deal that Trump says will cement their relationship

[AP] US applications for jobless benefits fall last week despite elevated uncertainty over Trump tariffs

[Yahoo/WSJ] Why the Fed Isn’t Ready to Join Other Central Banks in Cutting Rates

[Yahoo Finance] Trump: 'Too Late Jerome Powell is a fool'

[Axios] Hard truths slam Mike Johnson on "one big, beautiful bill"

[Yahoo/Reuters] Moody's warns of risk posed by rising retail exposure to private credit

[Yahoo/Bloomberg] EU to Target US Cars, Planes, Bourbon If Trump Won’t Do a Deal

[AP] Bank of England cuts main interest rate by 0.25% to 4.25% in face of US tariff uncertainty

[AP] India and Pakistan trade fire and accusations after Indian missile attack

[Reuters] Pakistan says shot down 25 drones, India says it pushed back Pakistani retaliation

[Reuters] Xi tells Putin that Russia and China should be 'friends of steel'

[Bloomberg] China Reiterates US Should Cancel Tariffs Ahead of Trade Talks

[Bloomberg] US Productivity Drops for First Time Since 2022 as Output Fell

[Bloomberg] Taiwan Dollar’s Stunning Rally Spells Trouble for Tech, Insurers

[Bloomberg] Putin and Xi Flaunt Alliance in Russia, Threatening US-Led Order

[Bloomberg] Taiwan’s Lai Warns of New Totalitarian Threat in Victory in Europe Day Speech

[Bloomberg] AI is Draining Water Out of Areas that Need it Most

[NYT] How India Is Trying to Squeeze Pakistan Far From the Battlefield

[WSJ] Trump to Announce Trade Agreement With Britain

[WSJ] Why the Fed Isn’t Ready to Join Other Central Banks in Cutting Rates

[WSJ] Car Insurance Rates Were Ready to Drop. Then Tariffs Came Along.

[WSJ] India, Pakistan Accuse Each Other of Drone Attacks on Military Targets

[WSJ] Trump’s Threats Push Greenlanders Closer to Denmark

[FT] Donald Trump to announce trade deal with UK

[FT] China’s Xi Jinping likens ‘US hegemony’ to ‘fascist forces’ ahead of Vladimir Putin summit

[FT] US scraps Biden-era rule that aimed to limit exports of AI chips

[FT] Investors are misjudging Donald Trump’s resolve on tariffs, Pimco warns

[FT] German president warns of Donald Trump’s ‘epochal break’ with postwar order

[FT] Global warming reaches 1.58C over 12 months to end-April

Wednesday Evening Links

[CNBC] Stock futures are little changed after S&P 500 posts first positive day in three following Fed decision: Live updates 

[AP] Federal Reserve leaves key rate unchanged as it sees risk of higher prices and higher unemployment

[CNBC] Trump digs in on high China tariffs ahead of trade talks

[Yahoo/Bloomberg] Trump to Rescind Chip Curbs After Debate Over AI Rules

[Axios] "Hell to pay": Milken crowd hopes threat of GOP midterm wipeout will stop tariffs

[CNBC] Billionaire Ken Griffin calls tariffs a ‘painfully regressive tax,’ hitting working class Americans the hardest

[Politico] Macron, Merz tout renewed Franco-German engine to lead Europe

[Yahoo/Reuters] Brazil central bank hikes rates to near 20-year high, leaves next steps open

[Bloomberg] US Consumer Borrowing Rises Most in Three Months in Broad Pickup

[Bloomberg] Goldman Boosts Forecast for US Inflation as Dollar Slides

[Bloomberg] Private Equity Shoves Angry Lenders to the Back of the Line

[WSJ] Fed Warns of Rising Economic Risks as It Leaves Rates Steady

[WSJ] Trump Says He Hasn’t Decided If Iran Can Enrich Uranium in a New Deal

[FT] Federal Reserve warns of rising economic risks as it holds rates steady

[FT] Denmark summons US ambassador over Greenland espionage report

Wednesday Afternoon Links

[CNBC] S&P 500 gives up gain as Fed flags stagflation risk, traders await Powell comments: Live updates

[CNBC] Fed meeting live updates: Fed flags rising inflation risk, traders await insight from Powell presser

[AP] Federal Reserve leaves key rate unchanged, flags a risk of higher prices and higher unemployment

[AP] The more Trump talks about making trade deals, the more confusing the tariff picture gets

[CNBC] Used vehicle pricing barometer jumps to highest level since 2023 amid auto tariffs

[Politico] Vance says Russia ‘asking for too much’ to end war with Ukraine

[Bloomberg] Trump Says He Won’t Lower China Tariffs to Jump-Start Talks

[Bloomberg] Bessent Working on Clear Rules for US Investment in China

[Bloomberg] Wall Street Banks Stuck With $6 Billion in Debt Ready to Lure Back Investors

[Bloomberg] German Banks Face Scrutiny on Currency Crunches After US Turmoil

[NYT] Consumers Are Pulling Back, Spooked by Tariff-Related Price Increases

[WSJ] Are India and Pakistan at Risk of War? Here’s What We Know

[WSJ] Russia, Ukraine Intensify Attacks Ahead of Moscow’s World War II Commemoration