The damage of Trump’s tariffs
By Miranda Xafa
Trump’s tariffs dominate discussions about the global economic order and the outlook for the global economy at the IMF’s Spring Meetings. Existing rules are being ...
IBM CEO makes play for AI market and more US investment
IBM (IBM.N) has made a play for more sales in the crowded artificial intelligence field, touting tools that could help customers manage a fleet of AI agents for their ...
US seeks breakup of Google’s ad-tech products after judge finds illegal monopoly
The US Department of Justice has proposed that Google sell its AdX digital ad marketplace and DFP platform for managing and delivering ads on websites, after a federal judge found ...
OpenAI dials back conversion plan, nonprofit to retain control
OpenAI has dialed back a significant restructuring plan, with its nonprofit parent retaining control in a move that is likely to limit CEO Sam Altman’s power over the pioneering ...
Lamborghini quarterly revenue up 29.6 per cent as hybrid models boost deliveries
Italian luxury sports carmaker Lamborghini reported a 29.6 per cent jump in revenue to 895.2 million euros, driven by strong global demand for its new hybrid models, the Revuelto and Urus SE, ...
Saudi Arabia’s non-oil business sector growth eases in April
Saudi Arabia’s non-oil private sector activity expansion slowed in April as growth in new orders decelerated sharply, even as hiring rates reached their joint-fastest pace in more than a ...
Why does Saudi Arabia want a civil nuclear deal with the US?
Saudi Arabia and the United States are discussing a deal to cooperate on the kingdom’s ambitions to develop a civil nuclear industry, talks that have long been complicated by ...
Philips cuts annual profit estimates as trade war clouds outlook
Dutch healthcare technology company Philips (PHG.AS has cut its profit margin forecast for 2025, citing a net impact from tariffs of between 250 and 300 million euros ($283 million-$340 million) despite “substantial tariff ...
UAE non-oil business grows steadily in April as hiring speeds up, PMI shows
Growth in the UAE’s non-oil private sector held steady in April, while employment rose at the fastest pace in 11 months as firms sought to reduce workloads and support new ...
Volvo Cars sales fall 11 per cent in April as fully electric cars slump
Volvo Cars this week reported an 11 per cent decrease in April sales to 58,881 cars from a year earlier, sending its shares down.
Volvo Cars, which is majority-owned by China’s ...
EU’s von der Leyen: Big push on capital markets union expected before the summer
The European Union will make a “big push” towards a capital markets union, which experts says would free up funds to finance defence spending as well as digital and green ...
Sterling rises to near 38-month high against dollar as UK asset outlook improves
Investors are betting on long-depressed UK markets as a US trade deal, rate cuts and hopes for renewed links with Europe spur optimism for a revival as they search for ...
OPEC April oil output edges lower despite plans for hike, survey finds
OPEC oil output edged lower in April despite a scheduled output hike taking effect, a Reuters survey found, led by a cut in Venezuelan supply on renewed US attempts to ...
UK RICS house price balance falls to 9-month low in April after tax break ends
Britain’s housing market slowed last month after the end of a temporary tax break on home purchases which had seen buyers rush to complete transactions in previous months, an ...
BoE cuts rates, surprise vote split sends pound, yields higher
The Bank of England cut its main interest rate by 0.25 percentage points to 4.25 per cent on Thursday, though with an unexpected three-way split among policymakers as US President Donald Trump’...
March passenger demand grows by 3.3 per cent, says IATA
Global air travel demand continued its upward trajectory in March 2025, according to new data from the International Air Transport Association (IATA), despite a growing gap between capacity and load factor.
...
Athens to host shipping summit tackling global risk and economic security
Cyprus, China and EU representatives will join global maritime leaders in Athens next month for the ‘Shaping the Future of Shipping Summit’.
The summit will be co-hosted by the Hellenic ...
UK financial watchdog consults on steps to simplify mortgage rules
Britain’s Financial Conduct Authority is seeking feedback on a potential overhaul of mortgage issuance and advice rules, with a view to simplifying responsible lending guidance and stimulating demand in ...
Disney, Miral announce plans for new Disney theme park in Abu Dhabi
Walt Disney (DIS.N) announced plans on Wednesday to open a Disney theme park in United Arab Emirates’ capital Abu Dhabi in collaboration with regional developer Miral Group, representing its ...
M&A deal signing hits 20 year-low after Trump’s ‘Liberation Day’
Bankers and CEOs hit the brakes on mergers and acquisitions after US President Donald Trump launched a global trade war on April 2, with fewer deals getting signed than during the ...
US trade deficit swells to record high amid rush to beat tariffs in March
The US trade deficit widened to a record high in March as businesses boosted imports of goods ahead of President Donald Trump’s sweeping tariffs, which dragged gross domestic product ...
UK services sector contracts at steepest pace since 2023, PMI shows
Britain’s services sector, accounting for much of the economy, shrank in April for the first time since October 2023 and at the fastest pace in more than two years, according ...
US financial leaders see private assets coming to more investor portfolios
Individual investors are likely to see a growing array of financial products containing private credit heading their way in the coming months and years, financial executives said at the Milken ...
UK new car sales fall 10.4 per cent in April, industry data shows
British new car registrations fell more than 10 per cent year-on-year in April, with Tesla’s (TSLA.O) UK sales plummeting 62 per cent, dragged by weak consumer confidence and tax increases, ...