Economic news


Altria CEO Billy Gifford to Retire in May, CFO Mancuso to Succeed

Altria CEO Billy Gifford to Retire in May, CFO Mancuso to Succeed

Altria said on Thursday that CEO Billy Gifford, who has led the tobacco giant since 2020, would retire in May and be succeeded by finance head Salvatore Mancuso. Gifford plans to serve as a consultant following his retirement until at least the end of 2026. Mancuso, who joined the compa...


December 11, 2025
Starbucks Workers' Union Takes Month-Long Strike to more Cities
Starbucks Workers' Union Takes Month-Long Strike to more Cities

Hundreds of Starbucks' baristas walked off the job in 34 U.S. cities on Thursday, escalating a month-long strike as their union...

US Sept Trade Deficit Lowest in more than 5 yrs, Goods Exports Soar
US Sept Trade Deficit Lowest in more than 5 yrs, Goods Exports Soar

The U.S. trade deficit unexpectedly narrowed in September, touching the lowest level in more than five years, as exports accelerated and imports...

Crypto Firm Nexo Purchases Argentina's Buenbit in Latin America Expansion
Crypto Firm Nexo Purchases Argentina's Buenbit in Latin America Expansion

Cryptocurrency firm Nexo is acquiring Buenbit, an Argentine trading platform, as it targets growth across Latin America, it said on...

US Weekly Jobless Claims Surge amid Seasonal Adjustment Challenges
US Weekly Jobless Claims Surge amid Seasonal Adjustment Challenges

The number of Americans filing new applications for unemployment benefits surged last week, but that likely reflected difficulties adjusting the...

China Pledges to Maintain Fiscal Stimulus to Support Growth next Year
China Pledges to Maintain Fiscal Stimulus to Support Growth next Year

Chinese leaders promised on Thursday to maintain a "proactive" fiscal policy next year that would stimulate both consumption and...

Oracle AI Reality Check Knocks Stocks, Fed Cut Saps Dollar
Oracle AI Reality Check Knocks Stocks, Fed Cut Saps Dollar

World stocks stalled on Thursday as cloud computing giant Oracle sounded a warning for AI profitability, while bonds were firm and the dollar...

EU Approves German State Aid to Support Chip Factories
EU Approves German State Aid to Support Chip Factories

The European Commission on Thursday said it had approved 623 million euros ($729.16 million) in German government aid to support the creation of...

ECB Proposes Simpler Bank Regulation, Rejects Calls for Lower Buffers
ECB Proposes Simpler Bank Regulation, Rejects Calls for Lower Buffers

The European Central Bank proposed a simplification of bank regulation on Thursday, looking to prune a complex rulebook put in place after the...

German Economy Stuck in Slow Lane, Institutes say
German Economy Stuck in Slow Lane, Institutes say

Germany's economy has stabilised but remains stuck in a phase of meagre growth, with a planned fiscal expansion from next year set to provide...

Gold Eases on Divided Fed Rate Cut Vote; Silver Hits new High
Gold Eases on Divided Fed Rate Cut Vote; Silver Hits new High

Gold edged lower on Thursday, as traders weighed the U.S. Federal Reserve's divided vote on a quarter-percentage-point interest rate cut, while...

European Shares Muted, Renewed Tech Worries Limit Fed Relief
European Shares Muted, Renewed Tech Worries Limit Fed Relief

SAP falls after U.S. peer Oracle's forecast Schneider Electric up after share buyback, profit boost plans Naturgy slips after BlackRock cuts...

Oil Retreats, Investor Focus Returns to Ukraine Peace Talks
Oil Retreats, Investor Focus Returns to Ukraine Peace Talks

Oil prices eased on Thursday as investors shifted focus back to Russia-Ukraine peace talks and monitored potential fallout from a U.S. seizure of a...

Inside Stellantis CEO's 'Emergency Room' Rush to Recapture Rarket Share
Inside Stellantis CEO's 'Emergency Room' Rush to Recapture Rarket Share

New Stellantis CEO Antonio Filosa is prioritising vehicle sales growth over profits including resorting to lower-margin fleet sales and investing...

Asian Equities See Biggest Foreign Outflows in nearly 6 yrs on Tech Valuation Fears
Asian Equities See Biggest Foreign Outflows in nearly 6 yrs on Tech Valuation Fears

Asian equities witnessed their largest monthly foreign outflows in nearly six years in November, driven by a selloff in high-flying technology...

STMicroelectronics Opens new 1-Billion-Euro Credit Line with EIB
STMicroelectronics Opens new 1-Billion-Euro Credit Line with EIB

Chipmaker STMicroelectronics said on Thursday it had established a 1 billion euro ($1.2 billion) credit line with the European Investment Bank...

Dollar Choppy as Risk-Off Mood, Dovish Fed Unsettle Markets
Dollar Choppy as Risk-Off Mood, Dovish Fed Unsettle Markets

The dollar found some support on Thursday from a broad risk-off mood in markets, but failed to recoup most of its losses after the Federal Reserve...

Hong Kong Cuts Interest Rate, Major Banks Keep Lending Rates Steady
Hong Kong Cuts Interest Rate, Major Banks Keep Lending Rates Steady

Hong Kong's de-facto central bank lowered on Thursday its base interest rate by 25 basis points to 4.0%, in line with a cut by the...

Bullish Views Rise on most Asia Currencies, Indian Rupee Shorts Spike: Poll
Bullish Views Rise on most Asia Currencies, Indian Rupee Shorts Spike: Poll

Analysts ramped up long bets on most Asian currencies on stronger growth prospects and weakness in the greenback, a Reuters poll showed on...

Wall Street Indexes Rally after Fed Cuts Interest Rates
Wall Street Indexes Rally after Fed Cuts Interest Rates

Wall Street ended higher on Wednesday, after the Federal Reserve cut interest rates by a quarter percentage point as expected and investors bet on...

S.Korea Plans to Relax Rules on Banking and Commerce to Spur Investment
S.Korea Plans to Relax Rules on Banking and Commerce to Spur Investment

South Korea plans to relax rules on the separation of banking and commerce in a bid to spur investment, Finance Minister Koo Yun-cheol said on...

BOJ to Hike Rates to 0.75% in Dec, 1.0% by next Sept, Majority of Economists Say: poll
BOJ to Hike Rates to 0.75% in Dec, 1.0% by next Sept, Majority of Economists Say: poll

The Bank of Japan will proceed with a 25-basis-point interest rate hike to 0.75% at its December meeting and raise borrowing costs to at least 1%...

December 10, 2025
Pfizer to Cut over 200 Jobs in Switzerland to Reduce Costs, Bloomberg News
Pfizer to Cut over 200 Jobs in Switzerland to Reduce Costs, Bloomberg News

Pfizer will cut over 200 jobs in Switzerland as part of its multi-year cost reduction program, Bloomberg News reported on Wednesday, citing...

Europe Shares Flat ahead of Fed Decision; Investors Assess Mixed Corporate Updates
Europe Shares Flat ahead of Fed Decision; Investors Assess Mixed Corporate Updates

European shares ended flat on Wednesday, as investors adopted a cautious stance ahead of the U.S. Federal Reserve's interest rate decision,...

Banks Support FTSE 100 ahead of Fed Decision
Banks Support FTSE 100 ahead of Fed Decision

Britain's blue-chip FTSE 100 edged up on Wednesday, supported by gains in banking stocks as investors awaited the U.S. Federal Reserve's...

Gold Slips ahead of Fed's Rate Decision; Silver Drifts near Record High
Gold Slips ahead of Fed's Rate Decision; Silver Drifts near Record High

Gold prices edged lower on Wednesday as investors booked profits ahead of the U.S. Federal Reserve's interest rate decision and Chair Jerome...

Switzerland says Lower US Tariffs to be Applied Retroactively from Nov 14
Switzerland says Lower US Tariffs to be Applied Retroactively from Nov 14

The lowering of U.S. tariffs on Switzerland to 15% from 39% will be effective retroactively from November 14, the Swiss government said on...

Dropbox CFO Timothy Regan to Step Down
Dropbox CFO Timothy Regan to Step Down

File hosting service provider Dropbox said on Wednesday its chief financial officer Timothy Regan will step down after five years in the role...

BoC Holds Rates, Says Economy Looks Better than Expected Despite Tariffs
BoC Holds Rates, Says Economy Looks Better than Expected Despite Tariffs

The Bank of Canada held its key policy rate steady at 2.25% on Wednesday as widely expected, and Governor Tiff Macklem said the economy was proving...

RUB Weakens after Hitting Strongest since May 2023 Last Week
RUB Weakens after Hitting Strongest since May 2023 Last Week

The Russian rouble weakened against the U.S. dollar and China's yuan for the third consecutive session this week on Wednesday, after hitting...

Germany's 10-yr Yield Hits Fresh 9-mth High, Cbanks in Focus
Germany's 10-yr Yield Hits Fresh 9-mth High, Cbanks in Focus

Germany's 10-year borrowing costs hit fresh multi-month highs on Wednesday as traders price out any chance of further European Central Bank...

Amazon to Invest over $35 Billion in India on AI, Exports
Amazon to Invest over $35 Billion in India on AI, Exports

Amazon plans to invest more than $35 billion in India by 2030 to expand its operations by boosting artificial intelligence capabilities and...

USD Retreats amid Overall Caution ahead of Fed Decision
USD Retreats amid Overall Caution ahead of Fed Decision

The U.S. dollar weakened on Wednesday, erasing two days of gains, as investors trimmed positions in anticipation of an expected third consecutive...

US Home Price Rises to Stay Modest, Mortgage Rates Stick: Poll
US Home Price Rises to Stay Modest, Mortgage Rates Stick: Poll

U.S. home prices will rise just 1.4% in 2026 after a similar performance this year, a Reuters poll of property experts showed on Wednesday, the...

Indonesia to Levy Gold Export Duties from December 23
Indonesia to Levy Gold Export Duties from December 23

Indonesia will impose duties on exports of gold products from December 23, a regulation on the finance ministry's website showed on Wednesday,...

China's Deflationary Strains Persist Even, Consumer Inflation Hits 21-mth High
China's Deflationary Strains Persist Even, Consumer Inflation Hits 21-mth High

China's annual consumer inflation accelerated to a 21-month peak in November, mainly driven by food prices, while factory-gate deflation...

Norway's $2Tn Sovereign Fund Cautious on Volatile Data Centres
Norway's $2Tn Sovereign Fund Cautious on Volatile Data Centres

Norway's $2 trillion wealth fund is being cautious about investing in data centres given sector volatility, its new head of real estate...

Sterling Edges Up vs Dollar, Flat Versus Euro, Fed in Focus
Sterling Edges Up vs Dollar, Flat Versus Euro, Fed in Focus

Sterling edged up against the dollar and was roughly unchanged versus the euro as investors braced for the Federal Reserve policy meeting outcome...

Stocks Recoil as Nerves Mount ahead of Fed Decision, Key AI Earnings
Stocks Recoil as Nerves Mount ahead of Fed Decision, Key AI Earnings

Global stocks dipped on Wednesday as crunch time neared for a divided Federal Reserve policy board and earnings results that could test...

Oil Steady as Market Watches Ukraine Peace Talks, Fed Rate Decision
Oil Steady as Market Watches Ukraine Peace Talks, Fed Rate Decision

Oil prices held steady on Wednesday after falling about 1% in the previous session, as investors watched for progress in Russia-Ukraine peace talks...

Bank of Korea Board Member Says 'can't Sit and do Nothing' about Weaker Won
Bank of Korea Board Member Says 'can't Sit and do Nothing' about Weaker Won

A board member of South Korea's central bank said on Wednesday foreign exchange authorities need to take action to curb the won's decline...

S&P 500 Ends Slightly Down, Investors await Fed Rate Decision
S&P 500 Ends Slightly Down, Investors await Fed Rate Decision

The S&P 500 ended Tuesday's session slightly lower as investors anticipated that the Federal Reserve would take a hawkish tone even if it...

ADB Approves $400M Loan to Make it Easier to do Business in Philippines
ADB Approves $400M Loan to Make it Easier to do Business in Philippines

The Asian Development Bank has approved a $400 million policy-based loan to support the Philippines' efforts to make it easier for investors to...


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