Author: OMN AI

Mexico announced on Wednesday that it will increase tariffs on cars from China and other Asian countries to 50%. The decision is part of a wider overhaul of import duties designed to protect jobs and local manufacturers. Analysts say the move may also help Mexico align with U.S. trade interests in the region. The Economy Ministry said the changes would affect goods across multiple sectors, including automobiles, textiles, and steel. The new measures are expected to impact $52 billion in imports. Economy Minister Marcelo Ebrard explained that the current tariff on Chinese cars is 20%. He said the new rate…

LONG BEACH, Calif. — A cargo vessel at the Port of Long Beach experienced a container collapse on Tuesday, disrupting terminal operations and prompting an immediate response from authorities. Around 67 containers shifted or fell from the ship Mississippi while it was docked at Pier G, officials said. The event occurred near midday, and fortunately, no workers were hurt. A Unified Command including port officials and the U.S. Coast Guard mobilized to secure the scene, assess environmental risks, and coordinate recovery efforts. Pier G remained closed until the area could be stabilized. “The safety of our staff and the harbor…

Oracle co-founder Larry Ellison overtook Elon Musk after Oracle shares jumped 40% in early trading.Ellison’s 41% stake in Oracle is now valued at $393bn, slightly above Musk’s $384bn, per Bloomberg.The rise marked Oracle’s largest single-day increase and the biggest one-day wealth gain on Bloomberg’s index.Ellison, 81, also holds Tesla shares, a sailing team, the Indian Wells Open, and a Hawaiian island.He has long been close to Musk, serving on Tesla’s board and investing $1bn in Musk’s Twitter purchase.Both men have ties to Donald Trump, though Musk’s relationship reportedly soured earlier this year.Oracle’s growth is fueled by AI demand, supplying cloud…

Donald Trump is calling on the European Union to apply tariffs of up to 100 percent on China and India. He aims to increase pressure on Russian President Vladimir Putin and push for an end to the war in Ukraine. Trump demands stronger measures against Moscow The US president raised his demand during a meeting with EU officials on Tuesday. Both sides explored new strategies to weaken Russia’s economy. According to a source, Trump pressed for the highest possible tariffs on China and India. He had promised to end the conflict on the “first day” of his presidency. Peace talks…

WASHINGTON, Sept 9 — The U.S. labor market is showing clear signs of deceleration, with August job gains slowing significantly and the unemployment rate climbing to a level not seen since late 2021, according to the Bureau of Labor Statistics (BLS). Nonfarm payrolls increased by just 22,000 last month, a sharp drop from the roughly 147,000 monthly gains reported earlier in the year. June’s numbers were revised down to a loss of 13,000 jobs, marking the first monthly decline since December 2020. Over the past four months, average monthly job growth has been only 27,000, signaling a marked slowdown in…

Apple will reveal its thinnest iPhone yet at Tuesday’s annual event in Cupertino.The iPhone 17 series will include standard, Pro, Pro Max, and the new iPhone Air.iPhone Air is predicted to be the lightest Apple flagship, inspired by slim MacBooks.Apple will also launch Apple Watch series 11 and refreshed AirPods earbuds.The updated AirPods may offer live translation, similar to Google’s Pixel Buds.Apple plans to announce release dates for iOS 26 and macOS Tahoe.Tariffs on China threaten to increase iPhone costs and disrupt Apple’s supply chain.Tim Cook moved production to India and shipped iPhones to the US to limit tariff effects.Apple…

Israeli jets targeted senior Hamas officials in Doha Tuesday in an operation named “Summit of Fire.” Prime Minister Netanyahu’s office confirmed Israel independently planned and executed the strike, accepting full responsibility. Eyewitnesses reported multiple explosions and smoke rising over the Katara district following the airstrikes. Uncertain Casualties and Damage Unconfirmed reports suggest four Hamas Political Bureau members may have been killed or remain missing. Qatari officials stated no deaths have been confirmed but confirmed residential buildings housing Hamas leaders were damaged. The Qatari Foreign Ministry condemned the strike as reckless and announced investigations at the highest level. Regional Tensions and…

Factories remain closed Jaguar Land Rover will keep its UK plants closed until at least Wednesday. The company continues to deal with disruption from a cyber attack that began over a week ago. Production is suspended at Halewood, Solihull and Wolverhampton. Facilities in Slovakia, China and India are also offline. Assembly line workers have been instructed to stay home. On 31 August the company shut down its IT systems to protect them from further damage. That step caused widespread operational disruption. Recovery efforts underway Jaguar Land Rover says teams are working around the clock to safely restore its networks. Cybersecurity…

The United States now hosts nine metro areas where housing markets exceed $1 trillion in total value. This remarkable concentration of wealth shows not only soaring home prices but also major shifts in the country’s real estate landscape. According to the latest Zillow® analysis, the U.S. housing market has reached $55.1 trillion, marking a $20 trillion rise since early 2020. While national growth has slowed recently, adding $862 billion over the past year, the nine “trillion-dollar housing markets” hold nearly one-third of total U.S. housing wealth. A home is often the largest investment for most Americans. Rising or falling values…

Penn State campuses across the commonwealth will host events from mid-September through October to honor National Hispanic Heritage Month. Observed annually from September 15 to October 15, this celebration recognizes the history, culture, and contributions of Hispanic and Latino communities. This year’s theme is “History, Heritage, Hope.” Hispanic Heritage Month began in 1968 when Congress authorized President Lyndon B. Johnson to proclaim National Hispanic Heritage Week, timed to coincide with the independence anniversaries of five Latin American countries: Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua. In 1989, Congress expanded the observance to a month, highlighting the culture and traditions…