Today’s top business news on February 23, 2026:
Global Markets & Trade Face Tariff Uncertainty
Global markets are experiencing mixed reactions, and US futures have slipped following a US Supreme Court decision that struck down most of former President Donald Trump’s sweeping tariffs. Despite the ruling, Trump has indicated he plans to impose new tariffs through alternative means, such as executive orders, threatening a 10% global tariff that he later raised to 15%, which is creating continued uncertainty in international trade. Australia’s equities are notably lower due to this renewed tariff threat. Meanwhile, Singapore has maintained its position with the lowest tariffs in Asia, even as the US court ruling narrows the gap. The yen’s purchasing power has fallen to a 53-year low. In a significant shift, China has surpassed the US to become Germany’s top trading partner.
Key Business Stories & Industry Developments
- Financial Services: Fulton Financial Corporation and Blue Foundry Bancorp have received all necessary regulatory approvals for their merger, which is anticipated to close around April 1, 2026.
- E-commerce & Payments: The e-commerce “Buy Now Pay Later” (BNPL) market is projected for substantial growth, with predictions to reach $40.88 billion by 2030.
- Automotive: Lamborghini has cancelled its plans to launch an all-electric supercar.
- Pharmaceuticals: Moderna’s vaccine development ambitions are reportedly encountering “anti-science” skepticism.
- Hospitality: Hoteliers generally maintain a positive outlook for business over the next 12 months, despite concerns about rising business costs and global instability.
- Mining Services: Perenti shares saw a slump after the firm reduced its full-year guidance despite an increase in first-half profit.
- Shipbuilding & Offshore: Seatrium shares jumped following the announcement of a $50 million savings target through asset divestments.
- European Central Bank: A controversy has arisen at the European Central Bank (ECB) regarding “double standards” after Christine Lagarde received €140,000 from the Bank for International Settlements (BIS), despite an ECB ban on third-party payments for other employees.
- Union Membership: Union membership in the US experienced a slight increase in 2025, even with efforts to diminish organized labor’s influence.
- Cost of Living: The cost of purchasing a car in America is increasing, with prices reaching new highs, an older buyer demographic, and a rise in loan defaults.