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Shares of Tesla tumbled Tuesday following data showing a big drop in auto sales in China, adding to recent losses amid backlash to CEO Elon Musk’s alliance with US President Donald Trump.The electric auto maker sold 30,688 vehicles in China in February, down 49 percent from the year-ago period, according to data from the China Passenger Car Association.Near 1840 GMT, Tesla shares were down 4.4 percent.Tesla has lost more than one third of its market value since mid-December as Musk has deepened his association with the polarizing US leader.Musk, who is the driving force behind the so-called Department of Government Efficiency, which is seeking to slash through the US budget, reportedly will attend Trump’s address before Congress Tuesday night.Musk has been excoriated among congressional Democrats for his role in cutting government jobs. He has also been criticized for endorsing far-right political figures in Germany and for making a hand gesture at Trump’s inauguration that resembled a Nazi salute.

Canadian Prime Minister Justin Trudeau on Tuesday launched a stunning attack on Donald Trump’s “dumb” trade war, sparking further threats of retaliation from the US president after huge tariffs kicked in against Canada, Mexico and China.A furious Trudeau accused Trump of trying to cause the collapse of Canada’s economy to make it easier for the United States to annex his country, and blasted Washington for targeting a close ally while “appeasing” Russia over Ukraine.Fears that the tariff spat is rapidly devolving into the most brutal trade war of modern times sent global markets lower, with the S&P 500 — a major Wall Street index — extending recent losses to erase all of its gains since Trump’s US election victory in November. Trump had announced — and then paused — blanket 25 percent tariffs on imports from major trading partners Canada and Mexico in February, accusing them of failing to stop illegal immigration and drug trafficking.But he pushed ahead with them Tuesday, citing a lack of progress on both fronts. And after Canada retaliated, Trump quickly threatened to hit it again, mocking Trudeau’s position as the country’s premier.”Please explain to Governor Trudeau, of Canada, that when he puts on a Retaliatory Tariff on the U.S., our Reciprocal Tariff will immediately increase by a like amount!” he wrote in a post on his Truth Social platform, referring to the Canadian leader with the title used for heads of US states.The sweeping duties will hit US imports from both US neighbors, affecting everything from avocados to the lumber crucial for building US homes, and hampering supply chains for key sectors like automobiles.Trump also inked an order Monday to increase a previously imposed 10 percent tariff on China to 20 percent — piling atop existing levies on various Chinese goods.Beijing condemned the “unilateral imposition of tariffs by the US,” filing a complaint with the World Trade Organization and threatening to impose 10 and 15 percent levies on a range of agricultural imports from the United States. – Pushing up prices -Analysts and businesses have warned that the higher import costs could push up prices for consumers — which could complicate efforts to bring down inflation, one of the issues that got Trump elected.That includes at grocery stores — Mexico supplied 63 percent of US vegetable imports and nearly half of US fruit and nut imports in 2023, according to the US Department of Agriculture.Brian Cornell, the chief executive of the US retail giant Target, said Tuesday that the company could be forced to raise the cost of some fruits and vegetables over the next couple of days.”If there’s a 25 percent tariff, those prices will go up,” he told CNBC. “The giant wildcard here, obviously, is how the consumers are going to react to the price increases,” Matthew Bilunas, the chief financial officer at US electronics retailer Best Buy, told investors during a conference call on Tuesday. Housing costs could also be hit. More than 70 percent of imports of two key materials homebuilders need — softwood lumber and gypsum — come from Canada and Mexico, according to the National Association of Home Builders. Truck drivers at the Otay Mesa border crossing in Mexico told AFP they were already feeling the impact as they waited to cross into the United States early Tuesday.- Fight to ‘the bitter end’ -Ottawa’s retaliatory 25 percent tariffs on $30 billion of goods went into effect early Tuesday, and Trudeau said that they would expand to “the remaining $125 billion of American products in 21 days time.””Canadians are reasonable. We are polite. We will not back down from a fight,” he said.Addressing the US president directly, Trudeau said that while he thinks Trump is a “smart guy,” the tariffs are a “very dumb thing to do.”China said its tariffs against the United States will come into effect next week and will impact tens of billions of dollars in imports, from soybeans to chickens.Beijing also announced that imports of US lumber have been suspended, and that soybean shipments from three American exporters have been halted, as country’s foreign ministry vowed to fight the US trade war to the “bitter end.”burs-da/bfm

Stock markets were in gloomy mode Tuesday as China, Mexico and Canada hit back at US tariffs and fears grew that Europe could be President Donald Trump’s next target in the growing global trade war.Wall Street had retreated almost 2 percent mid-session following steep losses the previous day while European stock markets closed down sharply and oil prices slumped, the price of Brent Crude plunging 2.4 percent to a five-month low of $69.94 amid worries a prolonged trade spat may knock the world economy out of kilter.European equities took a similar buffeting as Frankfurt lost more than 3.5 percent for its worst session in almost three years. London shed 1.3 percent and Paris gave up 1.9 percent. “The headlines surrounding an impending global trade war have become too loud to ignore on the once-booming trading floor of Frankfurt,” noted Konstantin Oldenburger, analyst at CMC Markets.   “The sounds of trade disruptions are growing louder and are becoming increasingly difficult to ignore, even though Trump has yet to impose any direct tariffs against Germany or the European Union.”The main US oil contract, West Texas Intermediate, fell almost two percent to $69.04 a day after OPEC+ confirmed plans to hike oil output from April, amid pressure from Trump to lower prices.”Investors don’t like tariffs, and they are deeply uncomfortable with President Trump’s new world order, which is weighing on market sentiment,” said Kathleen Brooks, research director at XTB trading platform.US tariffs of 25 percent for Canadian and Mexican goods came into effect on Tuesday along with the doubling of levies on Chinese imports to 20 percent. The three countries announced retaliatory moves.”The US administration is continuing to cause even more global upheaval and overnight by far the broadest set of tariffs yet has come into effect,” said Deutsche Bank analyst Jim Reid.But Reid added “there is still some market doubt as to whether all these tariffs will persist for a prolonged period of time.”The European Union warned that the tariffs on Canada and Mexico risk “disrupting global trade”, urging Washington to reverse course.”These tariffs threaten deeply integrated supply chains, investment flows, and economic stability across the Atlantic,” said EU trade spokesman Olof Gill.Amid fears the EU will be the next target, French Economy Minister Eric Lombard insisted that the bloc would be tough in negotiations.”We have negotiators who are playing hardball, we will play hardball but… we need to reach a balanced deal to protect our economies,” Lombard said.- China congress and eurozone rates -Bitcoin continued its recent nosedive as it dropped below $83,000 while the dollar came under pressure.Traders have their eyes on other major economic events this week.Investors hope China will announce a huge economic stimulus package at its annual parliamentary meeting, the National People’s Congress.On Thursday, the European Central Bank is expected to cut interest rates again to try to boost a floundering eurozone economy.The key scheduled economic event Friday will be US jobs data.- Key figures around 1640 GMT -New York – Dow: DOWN 1.7 percent at 42,439.97 points New York – S&P 500: DOWN 1.7 percent at 5,799.25 New York – Nasdaq Composite: DOWN 1.5 percent at 18,090.25 London – FTSE 100: DOWN 1.3 percent at 8,759.00 (close)Paris – CAC 40: DOWN 1.9 percent at 8,047.92 (close)Frankfurt – DAX: DOWN 3.5 percent at 22,326.81 (close) Tokyo – Nikkei 225: DOWN 1.2 percent at 37,331.18 (close)Hong Kong – Hang Seng Index: DOWN 0.3 percent at 22,941.77 (close)Shanghai – Composite: UP 0.2 percent at 3,324.21 (close)Euro/dollar: UP at 1.0535 from $1.0419 on MondayPound/dollar: UP at $1.2730 from $1.2612 Dollar/yen: DOWN 148.75 from 150.28 yenEuro/pound: UP at 82.76 pence from 82.62 pence West Texas Intermediate: DOWN 1.0 percent at $67.67 per barrelBrent North Sea Crude: DOWN 1.6 percent at $70.29 per barrel

Stock markets slid Tuesday as China, Mexico and Canada hit back at US tariffs and fears grew that Europe could be President Donald Trump’s next target in the growing global trade war.Wall Street retreated further at the open following steep losses the previous day while European stock markets fell sharply in afternoon deals.”Investors don’t like tariffs, and they are deeply uncomfortable with President Trump’s new world order, which is weighing on market sentiment,” said Kathleen Brooks, research director at XTB trading platform.US tariffs of 25 percent for Canadian and Mexican goods came into effect on Tuesday along with the doubling of levies on Chinese imports to 20 percent. The three countries announced retaliatory moves.”The US administration is continuing to cause even more global upheaval and overnight by far the broadest set of tariffs yet has come into effect,” said Deutsche Bank analyst Jim Reid.Reid added, however, that “there is still some market doubt as to whether all these tariffs will persist for a prolonged period of time.”The European Union warned that the tariffs on Canada and Mexico risk “disrupting global trade”, urging Washington to reverse course.”These tariffs threaten deeply integrated supply chains, investment flows, and economic stability across the Atlantic,” said EU trade spokesman Olof Gill.Amid fears that the EU will be the next target, French Economy Minister Eric Lombard insisted that the bloc would be tough in negotiations.”We have negotiators who are playing hardball, we will play hardball but… we need to reach a balanced deal to protect our economies,” Lombard said.- China congress and eurozone rates -Bitcoin dropped below $83,000 and the dollar came under pressure.Oil prices dropped after OPEC+ on Monday confirmed plans to hike output from next month.Traders have their eyes on other major economic events this week.Investors hope China will announce a huge economic stimulus package at its annual parliamentary meeting, the National People’s Congress.On Thursday, the European Central Bank is expected to cut interest rates again to try to boost a floundering eurozone economy.The key scheduled economic event Friday will be US jobs data.- Key figures around 1435 GMT -New York – Dow: DOWN 0.9 percent at 42,790.20 points New York – S&P 500: DOWN 0.9 percent at 5,799.25 New York – Nasdaq Composite: DOWN 1.0 percent at 18,171.97 London – FTSE 100: DOWN 1.0 percent at 8,786.19Paris – CAC 40: DOWN 1.9 percent at 8,046.82Frankfurt – DAX: DOWN 2.8 percent at 22,488.93 Tokyo – Nikkei 225: DOWN 1.2 percent at 37,331.18 (close)Hong Kong – Hang Seng Index: DOWN 0.3 percent at 22,941.77 (close)Shanghai – Composite: UP 0.2 percent at 3,324.21 (close)Euro/dollar: UP at 1.0527 from $1.0419 on MondayPound/dollar: UP at $1.2715 from $1.2612 Dollar/yen: DOWN 148.60 from 150.28 yenEuro/pound: UP at 82.81 pence from 82.62 pence West Texas Intermediate: DOWN 1.0 percent at $67.66 per barrelBrent North Sea Crude: DOWN 1.5 percent at $70.55 per barrel

Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge US tariffs on Canada, Mexico and China kicked in, sparking swift retaliation from Beijing and Ottawa.Markets fell in Asia and Europe in response to what analysts said were the steepest tariffs on imports since the 1940s.Trump had announced — and then paused — blanket 25 percent tariffs on imports from major trading partners Canada and Mexico in February, accusing them of failing to stop illegal immigration and drug trafficking.He pushed ahead with them Tuesday, citing a lack of progress on both fronts.The duties will hit over $918 billion in US imports from both countries, and are set to hamper supply chains for key sectors like automobiles and construction materials.Canada responded with its own retaliatory 25 percent tariffs, while Mexican President Claudia Sheinbaum said there was no justification for the US move and vowed to hit back with duties of its own.Trump also inked an order Monday to increase a previously imposed 10 percent tariff on China to 20 percent — piling atop existing levies on various Chinese goods.Beijing condemned the “unilateral imposition of tariffs by the US” and said it would impose 10 and 15 percent levies on a range of agricultural imports from the United States.Experts have warned the higher import costs could push up prices for consumers, complicating efforts to bring down inflation.That includes at grocery stores — Mexico supplied 63 percent of US vegetable imports and nearly half of US fruit and nut imports in 2023, according to the US Department of Agriculture.Housing costs could also be hit. More than 70 percent of imports of two key materials homebuilders need — softwood lumber and gypsum — come from Canada and Mexico, said the National Association of Home Builders. Truck drivers at the Otay Mesa border crossing in Mexico told AFP they were already feeling the impact as they waited to cross into the United States early Tuesday.Work was drying up because many companies in the Mexican border city of Tijuana export Chinese goods, said driver Angel Cervantes.”And since the tariffs are also against China, work is going down for the (transport) companies,” he added.- Fight to ‘the bitter end’ -Ottawa’s retaliatory 25 percent tariffs on $30 billion of goods went into effect just after midnight Tuesday.”Canada will not let this unjustified decision go unanswered,” Prime Minister Justin Trudeau said, adding that they would be extended to duties on more than $150 billion of Canadian goods within weeks.China’s tariffs will come into effect next week and will impact tens of billions of dollars in imports, from US soybeans to chickens.China also suspended all imports of US lumber and halted soybean shipments from three US exporters.Beijing’s foreign ministry vowed to fight a US trade war to the “bitter end.”European Union trade spokesman Olof Gill warned the tariffs on Canada and Mexico threatened transatlantic “economic stability” and risked disrupting global trade, urging Washington to reverse course.- Trump seeks leverage -Analysts say Trump’s tariffs over drugs like fentanyl are a means to tackle socio-economic problems — while providing legal justifications to move quickly — and Washington is also seeking leverage and to rebalance trade ties.But using emergency economic powers to impose tariffs on Canada, Mexico and China is a novel move.The Tax Foundation estimates that before accounting for foreign retaliation, tariffs on Canada, Mexico and China this time would each cut US economic output by 0.1 percent.”We could easily reach the highest effective tariff rate since 1936 by the beginning of 2026,” KPMG chief economist Diane Swonk warned ahead of the tariffs going into effect.Both consumers and manufacturers stand to bear the costs of additional tariffs, which could diminish demand and trigger layoffs as businesses try to keep costs under control, she told AFP.burs-sam/st/bgs

At a bustling Shanghai trade fair, exporters of goods ranging from plush toys to chainmail bikinis expressed growing unease at the escalating US-China trade war as new US tariffs took hold on Tuesday.President Donald Trump on Monday doubled previously imposed tariffs to 20 percent, which themselves pile atop existing levies on various Chinese goods.The fair on Tuesday showcased the huge spectrum of such exports — sellers of everything from bath mats to cosmetics told AFP their businesses would be affected in some way. The writing was on the wall at the Weiteng Gifts booth, where fridge magnets, keychains and medallions reading “Red Rock Rave Las Vegas”, “Colorado Crossroads” and “West Texas Classic” were proof of its reliance on the US market.”I’m a little worried, but there’s nothing I can do. We can only absorb it internally and hedge any risks,” representative Andy Dai told AFP.He said about 70 percent of the company’s sales went to the United States.Weiteng’s sales in the first two months of 2025 were down 15 percent compared with last year, he added.”The impact (of tariffs) is actually quite great, especially for small- and medium-sized enterprises,” said Esther Ma, who works for a logistics company that counts e-commerce giants Shein, Temu and Amazon among its clients.”In my industry, everyone is very worried about this kind of trade war… If it is a blow to our customers, it will also have a great impact on us.”- Christmas trees and cat litter -Among stalls selling products from “Protect Your Peace” candles to Christmas trees and cat litter, traders smiled ruefully when asked about China-US relations.  Weiteng’s Dai said the company had started to develop its business domestically, boosting its presence at local trade fairs.”At the same time, of course, we can’t give up our traditional market. The European and American markets are still our most important markets, so we are now straddling all of them to spread the risk,” Dai said.Diversifying customer bases was a recurring theme among those who said they would be affected. One company at the trade fair specialised in the mesh and sequinned party harnesses seen at festivals such as Coachella and Burning Man. A saleswoman said they were focussing on developing their European market to make up for the hit they had already taken in the United States.Logistics specialist Ma said some of her clients had told her they were switching to focus within Asia or to countries that are part of China’s Belt and Road infrastructure and trade initiative. Others said they hadn’t seen any effects from the tariffs yet but feared they would not be able to avoid it in the future.However, another logistics professional said he thought the cost would be passed on to US consumers rather than Chinese companies. “We export to a lot of countries and the United States is just one of them,” said Jin Ziqin, whose company sells cleaning products.”This new trade war? We’ve been in a trade war all along. I believe that China has various ways to deal with it,” she said. Beijing has already retaliated against the latest US move, saying it would impose 10 and 15 percent levies on a range of US agricultural imports, from chicken to soybeans.”If we keep going back and forth, I think things will keep escalating,” Weiteng Gifts’ Dai said.”But as an ordinary business, we certainly hope that through dialogue and negotiation, the two governments can reduce trade disputes.”

Mounting trade wars between the United States and its largest economic partners deepened on Tuesday as US tariffs on Canada, Mexico and China kicked in, sparking swift retaliation from Beijing and Ottawa.Stinging US tariffs on Canadian and Mexican goods came into effect as a deadline to avert President Donald Trump’s levies passed without the nations striking a deal — a move set to snarl supply chains.Trade war fears sent markets falling in Asia and Europe on Tuesday in response to what analysts said were its steepest tariffs on imports since the 1940s.Trump had announced — and then paused — the blanket 25 percent tariffs on imports from major trading partners Canada and Mexico in February, accusing them of failing to stop illegal immigration and drug trafficking.In pushing ahead with the duties, Trump cited a lack of progress in tackling the flow of drugs like fentanyl into the United States.The duties stand to impact over $918 billion worth of US imports from both countries.The sweeping duties on Canada and Mexico are set to hamper supply chains for key sectors like automobiles and construction materials, risking cost increases to households.Mexico supplied 63 percent of US vegetable imports and nearly half of US fruit and nut imports in 2023, according to the US Department of Agriculture.More than 80 percent of US avocados come from Mexico — meaning higher import costs could push up prices for American shoppers.Truck drivers at the Otay Mesa border crossing in Mexico told AFP they were already feeling the impact of the tariffs as they lined up to cross into the United States on Tuesday morning.Work was drying up because many companies in the Mexican border city of Tijuana export Chinese goods, said driver Angel Cervantes.”And since the tariffs are also against China, work is going down for the (transport) companies,” he added.And the United States imports construction materials from Canada, too, meaning tariffs could drive up housing costs.More than 70 percent of imports of two key materials homebuilders need — softwood lumber and gypsum — come from Canada and Mexico, said National Association of Home Builders chairman Carl Harris.- ‘Bitter end’ -Trump also inked an order Monday to increase a previously imposed 10 percent tariff on China to 20 percent — piling atop existing levies on various Chinese goods.Beijing condemned the “unilateral imposition of tariffs by the US” and swiftly retaliated, saying it would impose 10 and 15 percent levies on a range of agricultural imports from the United States.China’s tariffs will come into effect next week and will impact tens of billions of dollars in imports, from US soybeans to chickens.Beijing’s foreign ministry vowed to fight a US trade war to the “bitter end.””The Chinese people will not be intimidated,” spokesman Lin Jian said.And after Trump earlier announced tariffs on EU products would be 25 percent, France’s Economy Minister Eric Lombard called for the European Union to reach a “balanced deal” with Washington.EU trade spokesman Olof Gill warned the tariffs on Canada and Mexico threatened transatlantic “economic stability” and risked “disrupting global trade,” urging Washington to reverse course.Economists caution that tariffs could raise consumer prices while weighing on growth and employment.The Tax Foundation estimates that before accounting for foreign retaliation, tariffs on Canada, Mexico and China this time would each cut US economic output by 0.1 percent.This could complicate Trump’s efforts to fulfill his campaign promises of lowering prices for Americans.Former US officials see Trump’s tariffs over drugs like fentanyl as a means to tackle socio-economic problems — while providing legal justifications to move quickly.Washington is also seeking leverage and to rebalance trade ties, analysts say.But using emergency economic powers to impose tariffs on Canada, Mexico and China is a novel move, and could trigger lawsuits.- US tariffs won’t ‘go unanswered’ -Canadian Prime Minister Justin Trudeau on Monday pledged to impose retaliatory 25 percent tariffs on Washington, saying in a statement: “Canada will not let this unjustified decision go unanswered.”Mexican President Claudia Sheinbaum said her country has contingency plans.If Trump continues with his tariff plans, KPMG chief economist Diane Swonk warned ahead of them going into effect: “We could easily reach the highest effective tariff rate since 1936 by the beginning of 2026.”Both consumers and manufacturers stand to bear the costs of additional tariffs, which could diminish demand and trigger layoffs as businesses try to keep costs under control, she told AFP.Robert Dietz, chief economist at the National Association of Home Builders, told AFP the group expects a possible “combined duty tariff rate of above 50 percent on Canadian lumber” as proposed duties add up.Even as the United States also plans to expand forestry, Dietz said, prices will likely rise in the short-run.burs-oho/cms/sco

Singapore on Tuesday said it would consider caning scammers as the city-state doubles down on swindling syndicates following record high scam losses.Police figures show that at least Sg$1.1 billion ($817 million) was lost through scams in 2024 — 70 percent more than the previous year.”We will consider…caning to be prescribed for certain scam-related offences, recognising the serious harm they can cause,” said Minister of State for Home Affairs and Social and Family Development Sun Xueling.Although several protective measures are already in place in the banking industry, scammers have upgraded their playbook.”They have started asking victims to convert their money to cryptocurrencies prior to performing the transfers, thereby evading our banking safeguards,” she said, adding that crypto-related cases accounted for nearly 25 percent of all scam losses.She advised Singaporeans “to steer clear of cryptocurrencies.”Sun said the number of reported scams occurring via messaging platform Telegram, which provides anonymity to users, almost doubled in 2024.She urged Telegram to adopt stronger verification measures, adding that the government was exploring “legislative levers to ensure compliance.”In recent years, Singaporean authorities have intensified public education efforts against scamming, including setting up a national scam hotline.In 2020, the government introduced the “ScamShield” app which allows users to check suspicious calls, websites and messages.Last year, then-premier Lee Hsien Loong told local media he had been scammed as an item he ordered online never arrived, highlighting how the issue affected all sectors of society.Cyberscam centres — which lure foreigners in to work in scam hothouses swindling people with online romance and crypto investment cons — have proliferated across Southeast Asia in recent years.The United Nations estimates that up to 120,000 people, many of them Chinese, could be working in Myanmar’s many scam compounds.Last month, hundreds of Chinese nationals were sent home from Myanmar to their country via Thailand and there are plans to repatriate thousands more stranded in camps at the Thai-Myanmar border, part of a crackdown on transnational crime.

Markets fell in volatile trade Tuesday on fears of a trade war after China announced fresh tariffs on US imports in retaliation for President Donald Trump’s latest levies.China said it would impose levies of 10 and 15 percent on a range of US agricultural imports in response to Trump’s tariffs.The US president signed an executive order to increase a previously imposed 10 percent tariff on Chinese goods to 20 percent, the White House said on Monday.US tariffs also came into effect on imports from major trading partners Canada and Mexico after a deadline to avert the levies passed without a deal being struck.Canada said it would respond in kind, with 25 percent tariffs on $155 billion worth of US goods taking effect after the deadline.Fears of a full-blown trade war increased volatility with Asian markets mostly lower.Tokyo recovered some of its early losses to end down 1.2 percent after China announced its retaliatory tariffs.Japanese automakers with Mexican factories in their supply chains suffered the biggest hit, with Nissan, Toyota and Honda among the major losers.Hong Kong closed in the red after a volatile session with Singapore, Bangkok, Sydney, Wellington, Taipei, Jakarta, Kuala Lumpur and Seoul also down. Manila and Shanghai were the only gainers.Concerns over the impact of a tariff war spread to European markets, with London, Paris and Frankfurt all opening lower.”The spectre of a full-blown trade war is once again looming, threatening to choke global economic growth just as investors were starting to regain confidence,” said Stephen Innes of SPI Asset Management.Investors are hoping that China will announce a huge economic stimulus package at its key parliamentary meeting, the National People’s Congress, which opens Wednesday.”In the upcoming National People’s Congress, Chinese policymakers could provide more pro-growth measures including announcing a larger budget deficit target and maintaining a five percent growth target for this year,” said MUFG Bank’s Lloyd Chan.Both the Mexican peso and Canadian dollar have dropped against the greenback over the past few days.Trump expressed outrage on Monday over the weakening of certain currencies, accusing Beijing and Tokyo of using it as a trade strategy, although the Japanese government fiercely refuted the claim.The oil market also saw sharp declines, with West Texas Intermediate crude falling to $67.60 per barrel and Brent crude dropping to $70.66 per barrel.Bitcoin’s price plunged nearly 10 percent on Monday as concerns of an escalating trade war pushed investors to seek safer investments.Bitcoin and similar digital assets had surged at the weekend after Trump suggested creating a national cryptocurrency reserve.”Everything is getting sold,” Forexlive manager Adam Button said. “There’s a de-risking that’s unfolding” among crypto investors, he said.- Key figures around 0815 GMT -Tokyo – Nikkei 225: DOWN 1.2 percent at 37,331.18 (close)Hong Kong – Hang Seng Index: DOWN 0.3 percent at 22,941.77 (close)Shanghai – Composite: UP 0.2 percent at 3,324.21 (close)London – FTSE 100: DOWN 0.5 percent at 8,821.65Euro/dollar: UP at 1.0517 from $1.0419 on MondayPound/dollar: UP at $1.2719 from $1.2612 Dollar/yen: DOWN 149.16 from 150.28 yenEuro/pound: UP at 82.69 pence from 82.62 pence West Texas Intermediate: DOWN 1.13 percent at $67.60 per barrelBrent North Sea Crude: DOWN 1.34 percent at $70.66 per barrelNew York – Dow: DOWN 1.5 percent at 43,191.24 (close)

A Thai court on Tuesday accepted a class-action lawsuit filed by hundreds of fishermen seeking $73 million in damages from a agribusiness giant over invasive blackchin tilapia, a representative of the Thai lawyers’ council said.The alien species, native to west Africa, has been found in 19 provinces in Thailand, damaging ecosystems in rivers, swamps and canals, and last year the government declared its eradication a national priority.As well as the ecological impact, authorities are concerned about the threat it poses to the Thai fish-farming industry, one of the country’s most crucial sources of income.A Thai court agreed to hear the case against Charoen Pokphand (CP) on Tuesday, according to a member of the Lawyers Council of Thailand.”Today, a civil court in Bangkok accepted the case filed by fishing professionals in Samut Songkhram who have been affected by tilapia,” Somchai Armeen, a senior environmental lawyer at the council who is responsible for the case, said on his Facebook account.The lawsuit, filed six months ago on behalf of more than 1,400 fishing professionals, accuses CP of introducing blackchin tilapia into Thailand by importing the species from Ghana in 2010, a statement from the council said.The group demanded 2.48 billion baht ($73 million) in compensation, it added.Charoen Pokphand is one of Thailand’s largest conglomerates. Its founders, the Chearavanont brothers, are Thailand’s second richest family, according to Forbes in 2024.The company has faced increasing scrutiny over monopolistic practices, particularly after its merger with Tesco in 2020.