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.

European markets surged as defense and banking stocks drove the STOXX 600 to a record high, fueled by military spending growth and easing trade tensions.

The European Commission opposes Trump’s reciprocal trade policy, warning it could disrupt markets, fuel inflation, and harm businesses, vowing to protect EU industries from unfair tariffs.

Modi and Trump advance trade talks aiming for a $500B partnership by 2030, focusing on tariffs, energy, defense, and AI, with Musk exploring Tesla and Starlink expansion in India.

Treasury yields declined despite inflation data exceeding forecasts. Investors focused on upcoming Fed signals as markets awaited the PCE index to gauge inflation trends and policy shifts.

Sony raised its full-year forecast after strong PlayStation 5 sales lifted revenue and profits in the December quarter, surpassing analyst expectations and driving an 18% growth.

JPMorgan CEO Jamie Dimon dismisses employee concerns over full-time office return, rejecting a growing petition and insisting remote work hurts efficiency, engagement, and creativity.

Commerzbank will cut 3,900 jobs by 2028 while targeting a €2.4B profit in 2025, as part of a restructuring plan amid speculation over UniCredit’s increasing stake.

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.

UNCTAD’s 2024 report warns Africa remains highly vulnerable to global shocks, urging stronger regional trade and policy reforms to unlock AfCFTA’s $3.4 trillion potential.