China’s Xiaomi Corp announced on Tuesday that it raised $5.5 billion in an upsized share sale to support its ambitious electric vehicle manufacturing plans. The funding boosts Xiaomi’s push into the EV market as it seeks to compete with established automakers.

U.S. Defense Secretary Pete Hegseth denied claims that Trump officials mistakenly shared war plans in a Signal chat that included a journalist before the Yemen strikes. He dismissed the allegations as “garbage,” while the National Security Council reviews the incident.

Just like a boomerang can swing back and strike its thrower, Donald Trump risks political blowback by pressuring and strong-arming U.S. allies. His aggressive tactics could strain diplomatic ties, potentially leading to unintended consequences for his administration.

The U.S. dollar rose to its highest level in nearly three weeks on Tuesday, driven by strong U.S. services sector data and renewed optimism over tariff negotiations. Investors reacted positively to signs of economic resilience, while hopes for easing trade tensions provided additional support for the greenback.

As part of a new trade agreement, India has agreed to reduce tariffs on 55% of U.S. goods it currently taxes at rates between 5% and 30%. The move aims to strengthen economic ties and boost trade between the two countries.

Several Los Angeles residents affected by the deadly Palisades wildfire have sued city authorities, alleging that municipal utility power lines sparked the blaze. The lawsuit, filed Monday, accuses officials of negligence and seeks accountability for the fire’s destruction.

Turkish Finance Minister Mehmet Simsek and Central Bank Governor Fatih Karahan will hold a teleconference with international investors on Tuesday, the Treasury announced. The move comes after the arrest of Istanbul’s mayor unsettled markets, raising concerns among investors about political and economic stability in Turkey.

President Donald Trump’s new tariffs are set to take effect next week, with some countries potentially receiving exemptions. However, global oil prices spiked after Trump imposed a 25% tariff on any country purchasing Venezuelan oil or gas. Markets reacted sharply to the move, as investors assessed its impact on energy costs and international trade. Analysts…

China’s Foreign Minister met with his Portuguese counterpart in Beijing on Tuesday, emphasizing the need for deeper cooperation between China and Europe. The meeting comes as global trade tensions intensify, with China seeking to strengthen economic and diplomatic ties with European nations. Discussions focused on expanding trade, investment, and technological collaboration, with both sides expressing…