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US legacy automakers are broadly expected to bear the brunt of higher tariffs on Canada and Mexico.

Still, a Barclays analyst warns the extent to which these new levies could prove to be disruptive for the “Big Three” is being underappreciated.  

Shares of Ford Motor, General Motors, and Stellantis have been under pressure after new tariffs took effect on Tuesday.

Both Canada and Mexico have since announced retaliatory tariffs on goods from the US. 

What Trump’s tariffs mean for Detroit automakers

The Detroit automakers will have to make significant adjustments in terms of price increases and production plans to remain profitable amidst higher tariffs, says Barclays analyst Dan Levy.

Without such adjustments, “we estimate it [new tariffs] could wipe out effectively all profits for the D3 OEMs,” he told clients in a research note this week.

Year-to-date, the new government’s plans of raising taxes on imports from Canada and Mexico have resulted in a significant hit to shares of legacy car manufacturers.

Ford is down about 10% versus its year-to-date high, while Stellantis and GM are down more than 10% each. Still, Levy warned of “further volatility ahead … until there’s more certainty on the end outcome.”

Ford is relatively less exposed to Trump tariffs

Barclays sees Ford as less exposed to Trump tariffs compared to its peers GM and Stellantis.

Why? Because Canada and Mexico account for as much as 35% of their production in North America – and that includes their high-profit vehicles like trucks.

In comparison, Ford makes its high-profit vehicles in the US.

That said, it’s not like Ford Motor is entirely insulated from increased levies.

Trump tariffs will nonetheless have a significant effect on Ford as it relies on the two countries for automotive parts.

A 25% tariff could increase the overall cost of a vehicle that sources about half of its parts from Canada and Mexico by up to $3,500, according to Dan Levy.

Should you buy the dip in automotive stocks?

While the future looks rather grim for the Detroit automakers amidst higher tariffs on Canada and Mexico, the Barclays analyst sees a “buying opportunity” in the recent weakness in automotive stocks.

“Given the potential for significant disruption ahead if the tariffs stick, we believe it’s a reminder as to why tariffs of this magnitude are unlikely to stick,” he argued in his research note.

Like many, Levy expects the United States to use higher tariffs as a strategic tool to negotiate better trade terms with its two allies.

Other analysts seem to agree with Barclays on the legacy automakers considering the average price targets on all three continue to suggest significant upsides in their share prices from current levels.  

The post Trump tariffs could ‘wipe out all profits’ for the US legacy automakers appeared first on Invezz

Prime Minister Keir Starmer’s diplomatic engagements over Ukraine in the past week have earned him his highest poll ratings in six months, according to YouGov.

His handling of international relations, particularly in contrast to Donald Trump’s recent actions, seems to have resulted in the ratings bump.

Meanwhile, Trump’s behaviour appears to have negatively impacted his closest UK ally, Nigel Farage, whose favourability score declined from 30% to 26%.

The prime minister’s visit to Washington DC saw him win plaudits for his approach to Trump before returning to Downing Street to welcome Ukrainian President Volodymyr Zelenskyy.

The meeting followed tense scenes between Zelenskyy, Trump, and JD Vance at the White House.

Starmer then hosted a summit with European leaders and Canadian Prime Minister Justin Trudeau at Lancaster House, further solidifying his leadership as uncertainty grows over Trump’s stance on Ukraine.

Polls show growing support for Starmer

According to YouGov, Starmer’s favourability rating has risen to 31%, up from 26% in mid-February.

At the same time, Trump’s unfavourability rating has surged to 80%, up from 73% two weeks ago.

Even among Reform UK voters, Trump’s popularity has suffered, with more now holding a negative view than a positive one.

The proportion of Reform UK supporters with an unfavourable opinion of Trump has climbed 25 points to 53%, while his favourable rating has fallen from 66% to 45%.

Public sentiment toward Zelenskyy has also improved, with his favourability rating rising from 64% to 71%.

The shift is particularly notable among Reform UK voters, among whom Zelenskyy is now more popular than Trump.

Support for Zelenskyy among this group has climbed from 49% to 62%, while the proportion with an unfavourable view has dropped from 37% to 27%.

YouGov noted that Starmer’s ratings have improved across supporters of all four major parties, reflecting a broader shift in public perception amid the ongoing Ukraine crisis.

Earlier in the week, polling by More in Common also indicated that more Britons now view Starmer as the best choice for prime minister when compared to Kemi Badenoch and Nigel Farage.

The percentage of voters who believe he is doing a good job has increased from 22% to 28%, while Farage’s numbers have dropped from 26% to 22%.

Badenoch’s approval has risen slightly from 11% to 12%. However, 52% of the public still believe Starmer is doing a poor job despite his recent gains.

More in Common also found that 56% of the public believe Starmer’s handling of the Ukraine talks reflects well on the government, compared to just 9% who think it reflects poorly.

During Prime Minister’s Questions on Wednesday, Starmer issued a strong rebuke to JD Vance, referencing British soldiers who lost their lives in Iraq and Afghanistan.



The post Keir Starmer’s popularity surges to six-month peak amid Ukraine diplomacy appeared first on Invezz

US economic activity has risen slightly but unevenly since mid-January, according to the Federal Reserve’s latest Beige Book report.

While employment has inched higher and prices have increased modestly, businesses and households remain uncertain about how President Donald Trump’s policies will impact future growth, labor demand, and inflation.

The Fed’s survey, compiled from observations across its 12 regional banks, painted a picture of cautious optimism tempered by growing concerns over tariffs, immigration restrictions, and economic policy changes.

Beige Book highlights mixed economic trends

“Six districts reported no change, four reported modest or moderate growth, and two noted slight contractions,” the Fed said in its summary.

“Overall expectations for economic activity over the coming months were slightly optimistic.”

However, businesses across most regions signalled increasing anxiety over Trump’s trade policies.

The latest report featured 47 mentions of “uncertainty,” up from 17 in January, while the term “tariffs” appeared 49 times, more than double its January count.

The survey also noted that concerns over immigration restrictions were influencing labor demand, with businesses in multiple districts warning of potential workforce shortages.

The findings may already be outdated, as the report was completed on February 24—days before Trump’s latest tariff hikes on Mexico, Canada, and China.

Tariffs spark inflation fears and dampen business confidence

On Tuesday, Trump imposed a 25% tariff on most imports from Mexico and Canada, while doubling tariffs on Chinese goods to 20%.

The move triggered immediate retaliation from Canada and China, while Mexican President Claudia Sheinbaum announced plans for countermeasures by the weekend.

Although the White House stated that auto imports through the US-Mexico-Canada Agreement (USMCA) would be exempt for a month, analysts warn that these broader tariffs could slow growth and push inflation higher—posing a dilemma for the Federal Reserve.

The Beige Book already reflected early signs of this economic strain.

The Cleveland Fed reported that “consumer spending was down,” with auto dealers and lenders noting declining confidence due to inflation concerns.

The Atlanta Fed observed that casual dining restaurants saw customers cutting back, skipping appetizers and desserts.

In the Midwest, crop producers expressed uncertainty over federal trade policies, while the Dallas Fed reported widespread concerns over inflation stemming from tariffs.

Businesses cited rising costs, a reduced labor supply due to stricter immigration policies, and cuts to government spending as major economic headwinds.

However, some industries saw potential benefits from deregulation and corporate tax cuts.

Fed unlikely to cut rates as inflation lingers

With inflationary pressures persisting, Federal Reserve officials are expected to keep the benchmark interest rate at 4.25%-4.50% when they meet on March 18-19.

While the labor market remains strong, policymakers are hesitant to lower rates until inflation shows more consistent progress toward the Fed’s 2% target.

The central bank is also waiting to assess the full impact of the Trump administration’s trade and fiscal policies.

Given the rapidly changing economic landscape, the Fed places significant weight on real-time feedback from businesses and communities.

Officials believe such insights can be more accurate than lagging economic indicators, particularly when government policy shifts are creating uncertainty.

For now, the US economy continues to navigate a delicate balance, with businesses hoping for stability even as new policy risks emerge.

The post US economy sees modest growth, but businesses wary of tariff impact, Fed survey shows appeared first on Invezz

The CAC 40 index has done well this year and is hovering at its highest level on record, as focus shifts to the upcoming European Central Bank (ECB) interest rate decision. It was trading at €8,173 on Thursday, a few points below the all-time high of €8,260. 

European Central Bank decision ahead

The CAC 40 index has surged this year, mirroring the performance of other European indices like the German DAX and Spain’s IBEX 35. The Stoxx 50 and 600 indices have surged to their highest levels on record.

This performance happened as investors ignored the recent warnings from Donald Trump about tariffs. Trump has hinted that he will apply a 25% tariff on European goods as he works to narrow the trade deficit that exists between the two regions. 

He believes that tariffs will encourage more European companies to move to the United States, which is a critical market. Trump also hopes to raise money using tariffs and offset them by cutting taxes on consumers and businesses. 

The challenge, however, is that Europe is a major buyer of American goods, meaning that retaliations may be painful to the US. 

The next key catalyst for the CAC 40 index will be the upcoming European Central Bank (ECB) interest rate decision. Economists expect that the bank will continue cutting rates this week to support the economy. Recent ECB cuts have helped to support European equities, including those in France. 

Chinese economic recovery

The CAC 40 index has done well as investors target the performance of the Chinese economy. Beijing has set a growth target of 5% for this year even as it enters into a trade war with the United States. 

Macro data released this week showed that the Chinese economy was recovering. For example, the manufacturing and services PMI figures have remained above the expansion zone of 50.

CAC 40 index companies are highly exposed to the Chinese economy. This is specifically important to luxury group companies like LVMH, Kering, and Hermes, which have made billions of euros in the country. 

Analysts are optimistic that the Chinese economy will do well this year, which will provide more catalysts to these French companies. Also, with tensions between Europe and the US rising, there is a likelihood that these countries will pivot to China. 

Further, French stocks have done well as European countries vow to boost spending, especially in the defense industry. 

CAC index top movers in 2025

Most companies in the CAC 40 index have done well this year, with many of them rising by double digits. 

Thales stock price has jumped by over 76% this year, making it the best-performing company in the index. Its growth happened as its key segments like defence, aerospace, and cyber space saw significant demand. 

Societe Generale stock price has soared by over 48% this year, while BNP Paribas, Bouygues, Sanofi, and EssilorLuxottica have soared by double digits. 

Read more: This DAX index stock is up 95% in 2025: can the RHM rally continue?

CAC 40 index analysis

CAC index chart by TradingView

The weekly chart shows that the CAC 40 index has surged in the past few months. It has remained above the ascending trendline that connects the lowest swings since September 2022.

The index has moved above all moving averages. Also, it has formed an ascending triangle pattern whose higher side is at €8,247. This triangle is one of the most bullish continuation signs. 

The CAC index has remained above the Ichimoku cloud indicator. Therefore, the stock will likely keep rising as bulls target the next psychological point at €8,500. This view will be confirmed if it moves above the resistance point at €8,247. The alternative scenario is where it drops to the ascending trendline. 

The post CAC 40 index forecast: here’s why it may surge to €8,500 appeared first on Invezz

Sylvester Turner, a prominent figure in Texas politics, died at 70, leaving behind a legacy that spanned decades of public service.

From his early years in the Texas Legislature to his tenure as Houston’s mayor and, most recently, his brief stint in the US House of Representatives, Turner’s political career was marked by advocacy, resilience, and leadership.

His passing, just two months into his first congressional term, has left a significant void in Houston’s political landscape and raised questions about the future of Texas’ 18th Congressional District.

Turner’s career in public service was defined by his ability to navigate complex political landscapes, champion bipartisan solutions, and advocate for underrepresented communities.

His leadership in times of crisis, including natural disasters and public health emergencies, cemented his reputation as a steadfast and pragmatic leader.

His death has not only impacted Texas politics but has also altered the balance of power in Congress, where Republicans now hold a slim 218-214 majority.

Sylvester Turner: a political career built on perseverance

Born and raised in Houston, Turner’s journey into politics began in the Texas House of Representatives, where he served for nearly 27 years.

His tenure was marked by a strong focus on economic development, education, and social justice initiatives. Turner later transitioned into city leadership, becoming Houston’s mayor in 2016.

During his two terms, he played a pivotal role in navigating the city through multiple crises, including Hurricane Harvey and the COVID-19 pandemic.

His time as mayor was characterised by significant infrastructure projects, flood mitigation efforts, and a focus on improving public services.

Turner’s ability to bring together diverse political factions enabled him to push through critical policies aimed at strengthening Houston’s economy and community resilience.

He completed his second term in 2024 and subsequently ran for the congressional seat left vacant by the late Sheila Jackson Lee.

Winning by a significant margin, Turner was sworn into office in January 2025, marking a new chapter in his decades-long public service.

A sudden passing with political consequences

Turner’s unexpected death has sent shockwaves through the political community, coming at a critical time for Democrats in Congress.

He passed away due to enduring health complications, with his death classified as an apparent natural cause by the Metropolitan Police Department in Washington, D.C. Emergency responders were called to his residence early Wednesday morning, where they found him unresponsive.

His passing means Republicans now hold a narrow majority, giving them additional leverage in legislative negotiations. Governor Greg Abbott is expected to announce a special election to fill the vacant seat, though no immediate timeline has been set.

His death also comes at a time when key legislative battles are unfolding in Washington. With his seat temporarily vacant, House Republicans have a slightly wider margin to advance policy agendas, including discussions on extending Trump-era tax cuts.

The implications of Turner’s absence will likely be felt in upcoming congressional sessions, especially on issues that directly impact Houston and its constituents.

Remembering Sylvester Turner’s impact

Turner’s passing has prompted an outpouring of tributes from political figures across the spectrum. President Joe Biden described him as a “remarkable Congressman, Mayor, father, and grandfather,” acknowledging his lifelong dedication to public service.

Speaker Mike Johnson and House Minority Leader Hakeem Jeffries also expressed their condolences, recognising his contributions to both state and national politics.

Turner’s commitment to his constituents was evident even in his final public statements.

On the night of President Donald Trump’s address to Congress, he took to social media to advocate against Medicaid cuts, highlighting the struggles faced by families who rely on the programme.

His advocacy for social programmes, infrastructure development, and community resilience will remain a defining aspect of his legacy.

While Houston and the nation mourn his passing, Turner’s impact on the city and the broader political landscape will not be forgotten.

His leadership during challenging times, dedication to bipartisanship, and unwavering commitment to public service solidify his place as one of Texas’ most influential political figures in recent history.

The post Who was Sylvester Turner? A look at his legacy in Houston and beyond appeared first on Invezz

Prime Minister Keir Starmer’s diplomatic engagements over Ukraine in the past week have earned him his highest poll ratings in six months, according to YouGov.

His handling of international relations, particularly in contrast to Donald Trump’s recent actions, seems to have resulted in the ratings bump.

Meanwhile, Trump’s behaviour appears to have negatively impacted his closest UK ally, Nigel Farage, whose favourability score declined from 30% to 26%.

The prime minister’s visit to Washington DC saw him win plaudits for his approach to Trump before returning to Downing Street to welcome Ukrainian President Volodymyr Zelenskyy.

The meeting followed tense scenes between Zelenskyy, Trump, and JD Vance at the White House.

Starmer then hosted a summit with European leaders and Canadian Prime Minister Justin Trudeau at Lancaster House, further solidifying his leadership as uncertainty grows over Trump’s stance on Ukraine.

Polls show growing support for Starmer

According to YouGov, Starmer’s favourability rating has risen to 31%, up from 26% in mid-February.

At the same time, Trump’s unfavourability rating has surged to 80%, up from 73% two weeks ago.

Even among Reform UK voters, Trump’s popularity has suffered, with more now holding a negative view than a positive one.

The proportion of Reform UK supporters with an unfavourable opinion of Trump has climbed 25 points to 53%, while his favourable rating has fallen from 66% to 45%.

Public sentiment toward Zelenskyy has also improved, with his favourability rating rising from 64% to 71%.

The shift is particularly notable among Reform UK voters, among whom Zelenskyy is now more popular than Trump.

Support for Zelenskyy among this group has climbed from 49% to 62%, while the proportion with an unfavourable view has dropped from 37% to 27%.

YouGov noted that Starmer’s ratings have improved across supporters of all four major parties, reflecting a broader shift in public perception amid the ongoing Ukraine crisis.

Earlier in the week, polling by More in Common also indicated that more Britons now view Starmer as the best choice for prime minister when compared to Kemi Badenoch and Nigel Farage.

The percentage of voters who believe he is doing a good job has increased from 22% to 28%, while Farage’s numbers have dropped from 26% to 22%.

Badenoch’s approval has risen slightly from 11% to 12%. However, 52% of the public still believe Starmer is doing a poor job despite his recent gains.

More in Common also found that 56% of the public believe Starmer’s handling of the Ukraine talks reflects well on the government, compared to just 9% who think it reflects poorly.

During Prime Minister’s Questions on Wednesday, Starmer issued a strong rebuke to JD Vance, referencing British soldiers who lost their lives in Iraq and Afghanistan.



The post Keir Starmer’s popularity surges to six-month peak amid Ukraine diplomacy appeared first on Invezz

US economic activity has risen slightly but unevenly since mid-January, according to the Federal Reserve’s latest Beige Book report.

While employment has inched higher and prices have increased modestly, businesses and households remain uncertain about how President Donald Trump’s policies will impact future growth, labor demand, and inflation.

The Fed’s survey, compiled from observations across its 12 regional banks, painted a picture of cautious optimism tempered by growing concerns over tariffs, immigration restrictions, and economic policy changes.

Beige Book highlights mixed economic trends

“Six districts reported no change, four reported modest or moderate growth, and two noted slight contractions,” the Fed said in its summary.

“Overall expectations for economic activity over the coming months were slightly optimistic.”

However, businesses across most regions signalled increasing anxiety over Trump’s trade policies.

The latest report featured 47 mentions of “uncertainty,” up from 17 in January, while the term “tariffs” appeared 49 times, more than double its January count.

The survey also noted that concerns over immigration restrictions were influencing labor demand, with businesses in multiple districts warning of potential workforce shortages.

The findings may already be outdated, as the report was completed on February 24—days before Trump’s latest tariff hikes on Mexico, Canada, and China.

Tariffs spark inflation fears and dampen business confidence

On Tuesday, Trump imposed a 25% tariff on most imports from Mexico and Canada, while doubling tariffs on Chinese goods to 20%.

The move triggered immediate retaliation from Canada and China, while Mexican President Claudia Sheinbaum announced plans for countermeasures by the weekend.

Although the White House stated that auto imports through the US-Mexico-Canada Agreement (USMCA) would be exempt for a month, analysts warn that these broader tariffs could slow growth and push inflation higher—posing a dilemma for the Federal Reserve.

The Beige Book already reflected early signs of this economic strain.

The Cleveland Fed reported that “consumer spending was down,” with auto dealers and lenders noting declining confidence due to inflation concerns.

The Atlanta Fed observed that casual dining restaurants saw customers cutting back, skipping appetizers and desserts.

In the Midwest, crop producers expressed uncertainty over federal trade policies, while the Dallas Fed reported widespread concerns over inflation stemming from tariffs.

Businesses cited rising costs, a reduced labor supply due to stricter immigration policies, and cuts to government spending as major economic headwinds.

However, some industries saw potential benefits from deregulation and corporate tax cuts.

Fed unlikely to cut rates as inflation lingers

With inflationary pressures persisting, Federal Reserve officials are expected to keep the benchmark interest rate at 4.25%-4.50% when they meet on March 18-19.

While the labor market remains strong, policymakers are hesitant to lower rates until inflation shows more consistent progress toward the Fed’s 2% target.

The central bank is also waiting to assess the full impact of the Trump administration’s trade and fiscal policies.

Given the rapidly changing economic landscape, the Fed places significant weight on real-time feedback from businesses and communities.

Officials believe such insights can be more accurate than lagging economic indicators, particularly when government policy shifts are creating uncertainty.

For now, the US economy continues to navigate a delicate balance, with businesses hoping for stability even as new policy risks emerge.

The post US economy sees modest growth, but businesses wary of tariff impact, Fed survey shows appeared first on Invezz

The CAC 40 index has done well this year and is hovering at its highest level on record, as focus shifts to the upcoming European Central Bank (ECB) interest rate decision. It was trading at €8,173 on Thursday, a few points below the all-time high of €8,260. 

European Central Bank decision ahead

The CAC 40 index has surged this year, mirroring the performance of other European indices like the German DAX and Spain’s IBEX 35. The Stoxx 50 and 600 indices have surged to their highest levels on record.

This performance happened as investors ignored the recent warnings from Donald Trump about tariffs. Trump has hinted that he will apply a 25% tariff on European goods as he works to narrow the trade deficit that exists between the two regions. 

He believes that tariffs will encourage more European companies to move to the United States, which is a critical market. Trump also hopes to raise money using tariffs and offset them by cutting taxes on consumers and businesses. 

The challenge, however, is that Europe is a major buyer of American goods, meaning that retaliations may be painful to the US. 

The next key catalyst for the CAC 40 index will be the upcoming European Central Bank (ECB) interest rate decision. Economists expect that the bank will continue cutting rates this week to support the economy. Recent ECB cuts have helped to support European equities, including those in France. 

Chinese economic recovery

The CAC 40 index has done well as investors target the performance of the Chinese economy. Beijing has set a growth target of 5% for this year even as it enters into a trade war with the United States. 

Macro data released this week showed that the Chinese economy was recovering. For example, the manufacturing and services PMI figures have remained above the expansion zone of 50.

CAC 40 index companies are highly exposed to the Chinese economy. This is specifically important to luxury group companies like LVMH, Kering, and Hermes, which have made billions of euros in the country. 

Analysts are optimistic that the Chinese economy will do well this year, which will provide more catalysts to these French companies. Also, with tensions between Europe and the US rising, there is a likelihood that these countries will pivot to China. 

Further, French stocks have done well as European countries vow to boost spending, especially in the defense industry. 

CAC index top movers in 2025

Most companies in the CAC 40 index have done well this year, with many of them rising by double digits. 

Thales stock price has jumped by over 76% this year, making it the best-performing company in the index. Its growth happened as its key segments like defence, aerospace, and cyber space saw significant demand. 

Societe Generale stock price has soared by over 48% this year, while BNP Paribas, Bouygues, Sanofi, and EssilorLuxottica have soared by double digits. 

Read more: This DAX index stock is up 95% in 2025: can the RHM rally continue?

CAC 40 index analysis

CAC index chart by TradingView

The weekly chart shows that the CAC 40 index has surged in the past few months. It has remained above the ascending trendline that connects the lowest swings since September 2022.

The index has moved above all moving averages. Also, it has formed an ascending triangle pattern whose higher side is at €8,247. This triangle is one of the most bullish continuation signs. 

The CAC index has remained above the Ichimoku cloud indicator. Therefore, the stock will likely keep rising as bulls target the next psychological point at €8,500. This view will be confirmed if it moves above the resistance point at €8,247. The alternative scenario is where it drops to the ascending trendline. 

The post CAC 40 index forecast: here’s why it may surge to €8,500 appeared first on Invezz

Sylvester Turner, a prominent figure in Texas politics, died at 70, leaving behind a legacy that spanned decades of public service.

From his early years in the Texas Legislature to his tenure as Houston’s mayor and, most recently, his brief stint in the US House of Representatives, Turner’s political career was marked by advocacy, resilience, and leadership.

His passing, just two months into his first congressional term, has left a significant void in Houston’s political landscape and raised questions about the future of Texas’ 18th Congressional District.

Turner’s career in public service was defined by his ability to navigate complex political landscapes, champion bipartisan solutions, and advocate for underrepresented communities.

His leadership in times of crisis, including natural disasters and public health emergencies, cemented his reputation as a steadfast and pragmatic leader.

His death has not only impacted Texas politics but has also altered the balance of power in Congress, where Republicans now hold a slim 218-214 majority.

Sylvester Turner: a political career built on perseverance

Born and raised in Houston, Turner’s journey into politics began in the Texas House of Representatives, where he served for nearly 27 years.

His tenure was marked by a strong focus on economic development, education, and social justice initiatives. Turner later transitioned into city leadership, becoming Houston’s mayor in 2016.

During his two terms, he played a pivotal role in navigating the city through multiple crises, including Hurricane Harvey and the COVID-19 pandemic.

His time as mayor was characterised by significant infrastructure projects, flood mitigation efforts, and a focus on improving public services.

Turner’s ability to bring together diverse political factions enabled him to push through critical policies aimed at strengthening Houston’s economy and community resilience.

He completed his second term in 2024 and subsequently ran for the congressional seat left vacant by the late Sheila Jackson Lee.

Winning by a significant margin, Turner was sworn into office in January 2025, marking a new chapter in his decades-long public service.

A sudden passing with political consequences

Turner’s unexpected death has sent shockwaves through the political community, coming at a critical time for Democrats in Congress.

He passed away due to enduring health complications, with his death classified as an apparent natural cause by the Metropolitan Police Department in Washington, D.C. Emergency responders were called to his residence early Wednesday morning, where they found him unresponsive.

His passing means Republicans now hold a narrow majority, giving them additional leverage in legislative negotiations. Governor Greg Abbott is expected to announce a special election to fill the vacant seat, though no immediate timeline has been set.

His death also comes at a time when key legislative battles are unfolding in Washington. With his seat temporarily vacant, House Republicans have a slightly wider margin to advance policy agendas, including discussions on extending Trump-era tax cuts.

The implications of Turner’s absence will likely be felt in upcoming congressional sessions, especially on issues that directly impact Houston and its constituents.

Remembering Sylvester Turner’s impact

Turner’s passing has prompted an outpouring of tributes from political figures across the spectrum. President Joe Biden described him as a “remarkable Congressman, Mayor, father, and grandfather,” acknowledging his lifelong dedication to public service.

Speaker Mike Johnson and House Minority Leader Hakeem Jeffries also expressed their condolences, recognising his contributions to both state and national politics.

Turner’s commitment to his constituents was evident even in his final public statements.

On the night of President Donald Trump’s address to Congress, he took to social media to advocate against Medicaid cuts, highlighting the struggles faced by families who rely on the programme.

His advocacy for social programmes, infrastructure development, and community resilience will remain a defining aspect of his legacy.

While Houston and the nation mourn his passing, Turner’s impact on the city and the broader political landscape will not be forgotten.

His leadership during challenging times, dedication to bipartisanship, and unwavering commitment to public service solidify his place as one of Texas’ most influential political figures in recent history.

The post Who was Sylvester Turner? A look at his legacy in Houston and beyond appeared first on Invezz

The Organization of the Petroleum Exporting Countries and allies’ decision to raise crude oil production from April seems more like a move to please US President Donald Trump. 

The eight OPEC+ countries that voluntarily reduced their oil production levels had reached a consensus on Monday to gradually increase output and reverse these cuts starting from April, as previously outlined in their agreement.

This decision includes a production increase specifically granted to the United Arab Emirates. As a result of these combined increases, the total oil production from OPEC+ countries is projected to rise by 138,000 barrels per day in the upcoming month. 

This increase in production could have implications for global oil prices, supply and demand dynamics, and the overall energy market.

Experts had expected the cartel to once again extend these cuts beyond the end of March. OPEC+ had extended oil output cuts multiple times last year due to poor demand outlook for the commodity. 

Zain Vawda, market analyst at OANDA, said in a note:

Some including myself thought they might delay this increase toward the second half of 2025 at the earliest. The move is likely to please President Trump, who has been pushing OPEC to raise output. 

Trump pressures OPEC

On January 23, Trump said he will pressure Saudi Arabia and OPEC to decrease oil prices. 

Trump was addressing OPEC and other world leaders gathered in Davos on Thursday.

He urged Gulf nations to lower oil prices, stating that this could contribute to ending the Russian war in Ukraine.

“If the price came down, the Russia-Ukraine war would end immediately. Right now, the price is high enough that that war will continue – you got to bring down the oil price.”

“They should have done it long ago. They’re very responsible, actually, to a certain extent, for what’s taking place,” Trump added.

However, the oil market had expected OPEC to rollover the current output cuts as global prices have remained weak in the absence of meaningful demand growth. 

An expected oversupply in the market had also led investors to believe that OPEC would have maintained the status quo. 

“The increase is likely to make President Trump happy, given the pressure he’s been putting on OPEC to boost supply,” analysts at ING Group said.

Oil prices slump

Oil prices have continued to fall after OPEC agreed to go ahead with its planned output increase from April. 

“Oil prices reacted to the announcement with significant losses, as the market had expected a further postponement of the production increase due to the too low price level from the perspective of the OPEC+ countries and the high level of uncertainty regarding the effects of tariffs and sanctions,” Carsten Fritsch, commodity analyst said. 

Brent oil prices on the Intercontinental Exchange have fallen 4.7% since the close on Friday. Brent crude has also dipped below the $70 per barrel mark for the first time since September. 

Source: OANDA

“The recent sell-off since oil peaked in mid-January has been relentless. Despite this, the daily MACD, while in negative territory, is still not what one would describe as oversold,” said David Morrison, senior market analyst at Trade Nation. 

“This raises the possibility that there could be further price weakness.”

At the time of writing, the Brent crude oil on the Intercontinental Exchange was at $69.49 per barrel. 

Oil oversupply

The current scenario in the oil market indicates an oversupply of crude oil in 2025. 

The International Energy Agency has forecast that oil supply from countries outside of the OPEC+ alliance is likely to increase by 1.5 million barrels per day in 2025. 

This is expected to outstrip demand growth for oil by more than 400,000 barrels a day, according to IEA. 

With OPEC deciding to increase output from April, supply of oil is expected to rise further. This expectation has already weighed on oil prices. 

Meanwhile, OPEC’s daily oil production increased by 320,000 barrels in February to 27.35 million barrels per day, according to a Bloomberg survey. 

Iraq was responsible for most of the increase, raising output by 150,000 barrels per day to 4.16 million, exceeding its 4 million target. 

Libya, Venezuela, and the UAE also increased production.

Deeper production cuts are expected to be implemented soon by countries that have overproduced in recent months to compensate for the deficit.

Even with these cuts, production is set to increase from April, affecting oil balances across the world as OPEC turns on the taps.

“With their decision, the OPEC+ countries are meeting the demands of US President Trump, who had called on OPEC to increase oil production,” Fritsch said.

The post OPEC+ move seeks to please Trump but risks worsening oil oversupply appeared first on Invezz