Month: April 2025
British fintech Revolut tops $1 billion in profit as revenue jumps 72%
Key Points Digital banking unicorn Revolut said Thursday that net profit for the year ending Dec. 31, 2024, totaled £1.1 billion ($1.5 billion), up 149% year over year. The financial milestone arrives as Revolut is preparing a transition to becoming a fully operational bank in the U.K. after securing a banking license last summer. Revolut’s […]
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China and the U.S. are ‘critical and strategic allies,’ Pakistan’s finance minister says
Roads of Karachi, Pakistan, dated 2022 Muhammad Aqib | Moment | Getty Images Countries around the world have been feeling the pressure of tariffs imposed on their exports to the U.S., as well as the trade tensions between the world’s largest superpowers. Pakistan is no exception. U.S. President Donald Trump had imposed a 29% duty […]
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South Korea’s quarterly GDP contracts for the first time in four years as construction activity plunges
Commercial and residential buildings seen from the rooftop of the Lotte Corp. World Tower at sunset in Seoul, South Korea, on Tuesday, Nov. 28, 2023. Bloomberg | Bloomberg | Getty Images South Korea’s GDP contracted 0.1% year on year in the first quarter, according to advance figures, marking the first contraction in its economy since […]
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China to allow overseas investors access to more sectors
Shipping containers at the Yangshan Port outside Shanghai, China, on Feb. 7, 2025. Go Nakamura | Reuters China’s state regulator and planning council published a new version of its “negative list” that relaxes barriers to entering the world’s second-largest economy, reducing the number of restricted industries to 106 from 117. The so-called negative list specifies […]
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South Korea prosecutors indict ex-president Moon Jae-in for bribery
South Korea’s former President Moon Jae-in speaks at the National Assembly on October 25, 2021 in Seoul, South Korea. Chung Sung-jun | Getty Images News | Getty Images South Korean prosecutors have indicted former president Moon Jae-in for alleged bribery, a prosecution office spokesperson said Thursday, in a case related to the appointment of his […]
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We are still short on planes and engines, says Korean Air Chairman
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Korean Air CEO and Chairman, Walter Cho, discusses airline’s supply chain shortages, navigating Trump’s tariff issues and its merger with Asiana Airlines. Source
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CNBC Daily Open: Trump starts trade war but also blinks first
U.S. President Donald Trump looks on, on the day he signs executive orders in the Oval Office at the White House in Washington, D.C., U.S., April 23, 2025. Leah Millis | Reuters U.S. President Donald Trump called the first shots in his trade crusade, but he also blinked first in his tariff war. Trump late […]
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SK Hynix quarterly profit soars 158% to top estimates as chip demand surges on AI boom
Illustration of the SK Hynix company logo seen displayed on a smartphone screen. Sopa Images | Lightrocket | Getty Images South Korea’s SK Hynix on Thursday topped quarterly revenue and operating profit estimates, with demand for its high bandwidth memory offerings used in generative artificial intelligence chipsets remaining robust. Here are SK Hynix’s first-quarter results […]
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Asia-Pacific markets set to climb as Trump softens trade stance against China
The Seoul skyline. Mongkol Chuewong | Moment | Getty Images Asia-Pacific markets were set to mostly climb Thursday, tracking gains on Wall Street as a possible thaw in U.S.-China trade war fuels investor optimism. Japan’s benchmark Nikkei 225 was set to extend the previous day’s gains to open higher, with the futures contract in Chicago […]
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Trump considering exemption for automakers on some tariffs, White House says
People work on the production line of auto parts at a carmaker in Qingdao in east China’s Shandong province Saturday, March 1, 2025. Yu Fangping | Feature China | Future Publishing | Getty Images President Donald Trump is considering exemptions for automakers from some tariffs announced by his administration, the White House confirmed Wednesday to […]
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