Month: December 2024

U.S. Tariffs Could Slow Eurozone Growth and Inflation, Says ECB’s Cipollone Import tariffs proposed by U.S. President-elect Donald Trump’s administration could dampen economic growth and inflation across the 20 eurozone countries, European Central Bank board member Piero Cipollone stated on Tuesday. While most economists agree that tariffs would likely hurt…

The euro edged higher on Tuesday, regaining some composure after political unrest in France drove traders to seek hedging protection against potential price swings. Meanwhile, the yuan dropped to a 13-month low amid tariff concerns and signs of economic weakness in China. The yen, which has gained nearly 4.5% over…

The dollar remained strong on Tuesday, bolstered by political instability in France that weakened the euro, while concerns over tariffs and a sluggish Chinese economy pushed the yuan to its lowest level in 13 months. The yen, which recently saw a resurgence, eased slightly but stayed close to six-week highs…

Bitcoin dipped slightly on Tuesday, staying below record highs as reports of U.S. government activity involving confiscated Silk Road coins unsettled investors. The largest cryptocurrency by market cap has been trading within a range under the $100,000 mark in recent weeks, after failing to break through this psychological barrier during…

Vietnamese court on Tuesday upheld the death sentence for real estate tycoon Truong My Lan, rejecting her appeal against convictions for embezzlement and bribery in a landmark $12 billion fraud case, according to state media. Lan, chairwoman of Van Thinh Phat Holdings Group, was initially sentenced to death in April…

The UK economy is likely to feel the indirect effects of trade tariffs proposed by U.S. President-elect Donald Trump, even if it avoids being directly targeted, UBS analysts have cautioned. While the primary impact of potential tariffs is expected to hit Europe and other major trading partners, the global interconnectedness…

Oil prices edged higher on Monday, bolstered by robust factory activity in China, the world’s second-largest oil consumer, and rising tensions in the Middle East, where Israel resumed attacks on Lebanon despite a ceasefire agreement. Brent crude futures climbed 75 cents, or 1.04%, to $72.59 per barrel by 1002 GMT,…

Seoul, Dec 2 Hyundai Motor , South Korea’s largest carmaker, reported a 3.7% drop in sales last month compared to the same period last year, citing weaker vehicle demand. The company sold 355,729 vehicles globally in November, down from 369,356 units in November 2022, according to a statement. Domestic sales…

France’s far-right National Rally (RN) has threatened to bring down Prime Minister Michel Barnier’s government unless he agrees to their budget demands by a “last-minute miracle,” according to RN President Jordan Bardella. The escalating political crisis has rattled markets, leading to a selloff in French stocks and bonds, while the…

Tesla Inc. is positioned for significant growth as the incoming Trump administration indicates plans to accelerate regulatory support for artificial intelligence (AI) and autonomous vehicles, according to Wedbush analysts. They assert that Tesla remains the most undervalued AI opportunity in the current market. Wedbush highlighted the potential for a more…