UBS expects the US economy to slow significantly in 2025, projecting real GDP growth to fall to around 1%. In a note to clients issued Tuesday, the bank pointed to a combination of fading fiscal support, elevated interest rates, and persistent inflation as key drivers of the expected deceleration.“We see…
BHP, a major mining company, has stated that establishing a “green iron” industry in Australia is cost-prohibitive, Reuters said in a report. BHP’s declaration comes after Australia and China reached an agreement this week to collaborate on decarbonising the steel supply chain, which accounts for nearly 10% of global emissions.Geraldine Slattery,…
UK inflation rate jumped more than expected in June, with the Consumer Price Index (CPI) rising to 3.6% from 3.4% the month before, new figures from the Office for National Statistics show.It’s the highest level seen since January 2024 and caught many economists off guard, as most had predicted the…
Shares in Renault plunged over 16% on Wednesday after the French carmaker slashed its 2025 financial guidance and named finance chief Duncan Minto as interim chief executive. The sharp decline in investor confidence came as the company blamed a worsening auto market, rising competition, and weaker-than-expected first-half results for the…
US President Donald Trump on Wednesday indicated that his plans to impose high tariffs on the pharmaceutical sector can star to come into effect as early as the end of this month.He also mentioned that a similar tariff timeline is likely to be set for other critical imports like semiconductors.While…
All eyes are on the UK’s jobs market as Thursday’s upcoming figures are expected to determine the Bank of England’s next move on monetary easing, especially with headline inflation already at 3.6%.The key question is whether Thursday’s upcoming jobs figures will be sufficiently negative to compel the Bank of England…
Dow Futures pointed to a mixed open on Wednesday, with investors waiting on key earnings reports from major banks and fresh data on wholesale inflation.Futures tied to the Dow Jones Industrial Average inched up 17 points, while those for the S&P 500 slipped 0.1%. Nasdaq-100 futures were also down, falling…
Estée Lauder is embarking on a major digital transformation as it tries to regain lost ground in the global beauty market, following years of stagnating sales and shifting consumer preferences.Under new CEO Stéphane de La Faverie, the company is embracing artificial intelligence and a revamped omnichannel strategy to reach a…
Rolls-Royce Holding Plc (LON: RR) is in focus on Tuesday after the aerospace and defense giant announced a $75 million investment to expand its US manufacturing capabilities.In its press release, the company confirmed plans of expanding its manufacturing plant in Aiken, South Carolina.The announced expansion will significantly increase the output…
Asian stock markets began Wednesday’s trading session on a weaker footing, with most regional indices declining as investors reacted to a surprising legislative setback for cryptocurrency bills in the US House of Representatives and cautionary comments from a key Federal Reserve official. While a rally in chip stocks provided a…