Rolls of US pennies are seen on this photograph illustration in Washington, DC, February 10, 2025.
Saul Loeb | Afp | Getty Photographs
It has been simply over three weeks into the second time period of U.S. President Donald Trump, and the flurry of bulletins from the White Home reveals no signal of abating.
The administration is ready to pause enforcement of the International Corrupt Practices Act, President Trump has eliminated the director of the federal government ethics workplace, and (gasp!) even the common-or-garden penny is just not spared, with Trump ordering a halt to penny manufacturing.
For buyers, the dismantling of ethics rules would undoubtedly elevate questions. How would U.S. corporations now conduct themselves, particularly in markets the place corruption is extra rampant? Will extra brown envelopes be slipped underneath tables, all within the identify of retaining or profitable enterprise? Will the rule of legislation be outmoded by the quantity of enterprise introduced in by an organization?
There are not any straight solutions to those questions, however count on to listen to specialists and economists’ two cents within the coming days.
Effectively, no less than when the penny remains to be round.
— Lim Hui Jie
What it’s essential know at the moment
Altman declines $97.4 billion provide for OpenAI by Musk-led buyers
Tesla CEO Elon Musk is main a gaggle of buyers in providing to purchase management of OpenAI for $97.4 billion, CNBC confirmed. The provide is for the nonprofit that oversees the substitute intelligence startup behind ChatGPT. Nonetheless, OpenAI CEO Sam Altman wrote on a put up on X, “no thanks however we’ll purchase twitter for $9.74 billion if you need.” Musk then replied to the OpenAI chief on X calling him a “swindler.“
Metal shares surge on Trump’s tariffs
Metal and aluminum shares surged Monday after U.S. President Donald Trump mentioned he’ll impose 25% duties on all imports of the metals into the U.S. The aluminum tariff would add almost 30 cents per pound to costs, not together with transportation and different prices, in line with JPMorgan. The financial institution expects home manufacturing of aluminum to extend on account of the tariffs.
Trump to pause enforcement of International Corrupt Practices Act
Trump is set to signal an govt order directing the Division of Justice to pause imposing a virtually half-century-old legislation that prohibits American corporations and overseas companies from bribing officers of overseas governments to acquire or retain enterprise. The pause in legal prosecutions might be applied to keep away from placing U.S. companies at an financial drawback to overseas opponents.
Markets shrug off tariff fears
U.S. shares rose on Monday, powered by main tech names and as merchants regarded previous the most recent U.S. tariff risk from President Donald Trump. The Dow Jones Industrial Common added 0.38%, led by a 4.8% acquire in McDonald’s. The S&P 500 gained 0.67%, and the Nasdaq Composite climbed 0.98%. European shares closed at a report excessive, with the pan-European Stoxx 600 up 0.58% at a report excessive of 545.92 factors and with all sectors within the inexperienced.
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Merchants decrease charge lower expectations
Traders are reducing their expectations even additional for rate of interest cuts out of the Fed this 12 months, as they develop extra involved about tariffs and the impact they might have on inflation. Economists have warned {that a} wide-scale commerce struggle might considerably elevate costs, and customers look like anxious as properly.
And eventually…
Pennies are displayed at Glenview Coin & Collectibles July 6, 2006 in Glenview, Illinois.
Tim Boyle | Getty Photographs Information | Getty Photographs
What the tip of the penny means for the economic system, your piggy financial institution, and the best way America costs objects
President Donald Trump has ordered the Treasury to cease minting new pennies, which might have an effect on costs, money customers, and people cash nonetheless underneath your sofa cushions.
Specialists predict a light inflationary affect, as extra costs are rounded to the closest 5 cents. Folks on the backside of the financial ladder will most likely really feel any penny pinch probably the most, as they’re both unbanked or unable to entry debit or bank cards or a digital pockets.
