BUSINESS

China Cuts Key Mortgage Rate To Boost Economy

Officials in China have struggled to kickstart economic growth as they battle a range of headwinds
China has struggled to kickstart growth as it battles a prolonged property sector downturn, soaring youth unemployment and a global slowdown that has hammered demand for goods from the world's second-largest economy.
According to Capital One the deal to acquire Discover is expected to close in late 2024 or early 2025

Capital One To Buy Discover For $35.3 Bn

Acquisition of Discover will help "build a payments network that can compete with the largest payments networks and payments companies," said Capital One founder and CEO Richard Fairbank in a statement.
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Airbus CEO Guillaume Faury said the group had a "remarkable" 2023 with a takoff in sales and orders

Airbus Posts 11 Percent Profit Drop For 2023

The group, which delivered 735 aircraft last year despite supply chain problems, said it plans to deliver about 800 in 2024. It reached the mark in 2018 before the pandemic battered the aviation industry.
Pedestrians cross the street in front of luxury shops in the Ginza shopping district in Tokyo on January 19, 2024

Germany Overtakes Japan As Third-biggest Economy

Once forecast to become the world's biggest economy, Japan slipped below Germany last year to fourth place, official data showed Thursday, although India is projected to leapfrog both later this decade.
Influencers are seeking to profit off wartime misinformation on X.

Musk's X Feeds Monetization Of Wartime Misinformation

Since Elon Musk's turbulent 2022 acquisition of X, formerly Twitter, the site has restored thousands of once-banned accounts and introduced a paid verification system that critics say has boosted conspiracy theorists.
The European Commission decided not to hit Apple's iMessage with stricter rules

Apple's IMessage, Microsoft's Bing Escape EU Rules

The commission announced in September that 22 "core" services provided by the designated gatekeepers -- Google's Alphabet, Amazon, Apple, TikTok parent ByteDance, Facebook owner Meta and Microsoft -- met the thresholds for mandatory compliance.
WTO Director-General Ngozi Okonjo-Iweala will oversee the world trade body's ministerial conference

Big Trade Deals Likely Elusive At WTO Meet In Abu Dhabi

Several issues remain stuck in the weeds ahead of the World Trade Organization's biennial ministerial meeting, as anxiety swells over the impact that geopolitical tensions and the looming US elections could have on global trade.
Bitcoin has broken $50,000 but is still well off its record high of nearly $69,000 seen in 2020

Bitcoin Breaks $50,000 For First Time Since 2021

The cryptocurrency has enjoyed a strong run in recent months, fueled by expectations US lawmakers would allow the creation of exchange-traded funds (ETFs) that track the price and let the public invest in crypto without directly purchasing it.
Hermes will hand out 4,000-euro bonuses to its staff worldwide

Hermes Celebrates Record Profit With Staff Bonuses

The group said its 22,000 employees worldwide would get a 4,000-euro bonus early this year as part of "its policy of sharing the fruits of growth with all those who contribute to it on a daily basis".
A vendor cuts meat for customers at a market in Shenyang, in China's northeastern Liaoning province in January

Chinese Consumer Prices Suffer Quickest Drop In 14 Years

Officials have struggled for months to kickstart economic growth as they battle a range of headwinds, including a prolonged property-sector crisis, soaring youth unemployment and a global slowdown that is hammering demand for Chinese goods.
BP bagged a net profit of $15.2 billion last year

BP Bags Bumper 2023 Profits, Rewards Investors

The annual results sparked fresh fury from the green lobby but herald a new era under new chief executive Murray Auchincloss, following the dramatic sacking of his predecessor Bernard Looney.

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