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The U.S. government has begun denying requests from companies seeking refunds for billions of dollars in illegal tariffs, despite a landmark Supreme Court ruling that struck down the levies last month.

Global energy markets are reeling as oil tracks toward its most significant weekly gain in four years, fuelled by escalating conflict in the Middle East.

Global oil prices held steady on March 3 as energy markets braced for an intensification of conflict in the Middle East.

U.S. Customs and Border Protection (CBP) will officially stop collecting billions in trade duties at 12:01 a.m. EST on Tuesday, following a landmark Supreme Court ruling that declared President Donald Trump’s use of emergency powers to levy tariffs illegal.

The U.S. Supreme Court delivered a historic blow to President Donald Trump’s economic agenda Friday, ruling 6-3 that the administration overstepped its constitutional authority by using a national emergency statute to impose sweeping global tariffs.

The January US jobs report surprised to the upside, adding 130,000 roles as unemployment dipped to 4.3% and wages stayed contained.

Washington has pulled itself back from the brink, passing a $1.2 trillion stop-gap deal that reopened most of the US government after days of disruption.

Trump used his Davos speech to tout US economic dominance, promote crypto, and revive his push for Greenland.

Japan’s bond market has been sliding all week, with the 10-year yield now near 2.37% and the 40-year pushing above 4.2%, both multi-decade highs.

U.S. President Donald Trump has escalated his confrontation with European leaders on the eve of the World Economic Forum in Davos, threatening to impose a 200% tariff on French wine and champagne.