Browsing: Business

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.

HSBC is closing M&A and equity markets operations in the US, UK, and Europe, focusing on growth in Asia and the Middle East under CEO Georges Elhedery’s restructuring plan.

China’s manufacturing sector faces renewed contraction, as PMI data underscores weak domestic demand, global trade risks, and calls for stronger stimulus in 2025.

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.

Nvidia fell 14% premarket as China’s DeepSeek launched a cost-efficient AI model, shaking global markets and raising concerns over U.S. dominance in AI infrastructure.

Novo Nordisk’s amycretin shows up to 22% weight loss in trials, boosting its stock by 6.87% as the drug exhibits safety and potential as a next-gen obesity treatment.

Amazon announced the closure of seven Quebec warehouses, eliminating 1,700 jobs, amid allegations the move is linked to recent unionization efforts at a Montreal-area facility.

Former US President Donald Trump announces a $500B AI initiative with OpenAI, Softbank, and Oracle, launching the Stargate project to maintain US dominance in technology.

UK wages rose 6% in November, defying expectations, but jobless claims rose. The Bank of England faces mixed signals as it considers interest rate cuts amid economic uncertainty.

The Dow surged 244 points as President Trump’s softer tariff approach reassured investors, with major indices rising on tempered fears over potential trade conflicts.