The Financial Times reports that President Donald Trump is planning to scale back some tariffs on steel and aluminum goods, as he battles an affordability crisis that has sapped his approval ratings ahead of November’s midterm elections. Sources close to the White House say that a review of the list of products affected by the…

The U.S. posted a $95bn budget deficit in January, down 26% from a year earlier, as revenue growth outpaced spending increases, according to the Treasury Department. Receipts rose 9% to $560bn, while outlays increased 2% to $655bn. Higher customs duties driven by President Donald Trump’s tariffs significantly boosted revenues, with January net customs receipts reaching…

Carve-outs are set to lead global mergers and acquisitions activity in 2026, as companies streamline portfolios amid geopolitical uncertainty and rapid technological disruption, particularly from artificial intelligence, according to KPMG’s Global M&A Outlook 2026. The survey of 700 dealmakers found that 57% of corporate executives and 71% of private equity firms are open to or…

Crypto-focused Erebor Bank has become the first lender to receive a national bank charter during the second term of the Trump administration. The bank’s funders include Lux Capital, Andreessen Horowitz, and Peter Thiel’s Founders Fund. Erebor plans to serve technology businesses in artificial intelligence, crypto, defense and manufacturing, according to its charter application.

Economists expect a moderate rise in January inflation, but many on Wall Street are bracing for a hotter-than-forecast reading. Consumer prices have a history of spiking early in the year, as businesses often raise fees, reverse holiday discounts, or reset prices in January. While official data is seasonally adjusted to smooth these patterns, economists say…

McDonald’s has announced a series of senior leadership changes, promoting Luis Quintiliano, currently managing director of McDonald’s Spain, to U.S. national field president. Quintiliano will oversee U.S. field operations and execution of the company’s “Accelerating the Arches” strategy, replacing Myra Doria, who will retire in June after helping establish the role in 2023. McDonald’s also…