Browsing: Business

HSBC will announce $1.5 billion in cost savings and 40 job cuts in Hong Kong as it restructures, with further layoffs expected as part of a shift towards Asian markets.

U.S. stocks tumbled Wednesday after inflation data exceeded forecasts, raising fears of delayed rate cuts. The CPI report fueled uncertainty, sending the Dow, S&P 500, and Nasdaq lower.

Japan recorded a record $193 billion current account surplus in 2024, fueled by strong foreign investment returns, a weak yen, and an improving trade balance, Finance Ministry data shows.

Russia says its natural gas reserves, totaling 63.5 trillion cubic meters, will last over 100 years, reinforcing its global energy position despite shifting geopolitical dynamics.

Tesla’s Germany sales plunged nearly 60% in January, falling to third place. Analysts link the drop to CEO Elon Musk’s support for far-right AfD, sparking controversy.

Trump warns tariffs on the EU and UK are imminent, citing trade imbalances, but signals Britain may negotiate a deal to avoid levies. EU vows to retaliate against potential tariffs.

Core inflation stayed at 2.8% in December, aligning with expectations but above the Fed’s target. Rising energy costs and tariff threats pose risks to price stability.

The euro zone economy stalled in Q4, posting zero growth, missing forecasts. The ECB responded with a rate cut as inflation concerns persist despite weak GDP data.

Russia’s grain exports reached a record 72 million tonnes in 2024, driven by strategic growth in agricultural output and trade, cementing its global leadership.

Despite calls from President Trump for immediate rate cuts, the Federal Reserve is poised to maintain current interest rates, leaving consumers struggling with persistent high borrowing costs.