Breaking News: Economy
Europe’s luxury giants brace for a turnaround in fortunes amid China pivot
Europe’s beleaguered luxury sector could be set for a turn in fortunes this year, as early indicators point to improved consumer spending and a pivot away from China. Luxury shares shot up in trading last week after Cartier owner Richemont reported its “highest ever” quarterly sales in the three months to December, indicating a rebound […]
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United Airlines’ first-quarter outlook outpaces estimates after profits surge to end 2024
A United Airlines airplane proceeds to a runway at Newark Liberty International Airport in front of the skyline of lower Manhattan and One World Trade Center in New York City on December 4, 2024, in Newark, New Jersey. Gary Hershorn | Corbis News | Getty Images United Airlines forecast first-quarter earnings that surpassed analysts’ estimates […]
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Interest rates won’t fall as fast as expected if tariffs stoke inflation, UBS CEO says
An expected decline in interest rates could be stalled if the prospective tariffs of Donald Trump’s second White House administration bleed into markets and shore up inflation, UBS CEO Sergio Ermotti warned Tuesday. “Something that I’ve been saying for a while, inflation is much more sticky than we have been saying,” he told CNBC’s Andrew […]
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World’s biggest sovereign wealth fund warns markets at risk from tariff-fueled inflation
Nicolai Tangen, chief executive officer of Norges Bank Investment Management, during a news conference in Oslo, Norway, on Tuesday, Jan. 30, 2024. Norway’s $1.6 trillion wealth fund added to its bets in the biggest technology companies last year after interest in artificial intelligence drove a surge in the sector. Bloomberg | Bloomberg | Getty Images […]
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Trump inauguration live updates: TikTok, energy and immigration top targets for ‘day one’ executive actions
Trump to call for a ‘revolution of common sense’ U.S. President-elect Donald Trump at a viewing of the launch of the sixth test flight of the SpaceX Starship rocket on Nov. 19, 2024, in Brownsville, Texas. Brandon Bell | Getty Images News | Getty Images Trump’s inaugural address will feature a memorable line calling for […]
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A weakening yuan is testing Beijing’s resolve as Trump’s return fuels tariff worries
YINAN, CHINA – DECEMBER 26 2024: A worker counts RMB banknotes during a gathering to distribute the yearly dividend to members of an agricultural co-operative in Yinan county in east China’s Shandong province Thursday, Dec. 26, 2024. Wang Yanbing | Future Publishing | Getty Images The Chinese yuan is widely expected to depreciate against an […]
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Why the gold boom is causing a surge in illegal mining
In challenging economic and geopolitical times, investors bet on gold for its ability to store value. Gold prices hit record highs last year, with some analysts forecasting the precious metal could reach $3,000 an ounce by the end of 2025. But the boom has also been linked to a surge in illegal gold mining. “What […]
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India likely to cut disinvestment goal by 40% for FY25, Economic Times reports
Rupee coin. Abhishek Mehta | Moment | Getty Images India will likely cut its disinvestment and asset monetization target by 40% for 2024-25 in the federal budget to be presented next month, The Economic Times newspaper reported on Saturday, as planned sales of state-run firms run into a host of setbacks. The government will likely […]
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Stocks making the biggest moves midday: Novo Nordisk, J.B. Hunt, Qorvo and more
Check out the companies making headlines in midday trading. Crypto stocks – Stocks tied to crypto prices jumped amid reports that President-elect Donald Trump could release an executive order making crypto a national priority as soon as the first day of his new term. Shares of crypto exchange operators Coinbase and Robinhood advanced 4.5% and […]
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Trump announces White House economic policy team
White House Council of Economic Advisers Chairman Kevin Hassett addresses reporters during the daily briefing at the White House in Washington, U.S. February 22, 2018. Jonathan Ernst | Reuters President-elect Donald Trump on Friday announced senior staff appointments to his White House National Economic Council. The council advises the President on U.S. and global economic […]
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