Investors less bearish on US assets
Global asset managers held their biggest underweight position in the dollar in 19 years in May, as President Donald Trump’s chaotic trade policy cut investor appetite for US assets, Bank ...
Burberry to cut 20 per cent of global workforce, shares jump
Burberry (BRBY.L) shares surged 18 per cent on Wednesday after the British luxury brand announced plans to shed 1,700 jobs or around a fifth of its global workforce to cut costs ...
Simsek insists Turkey’s economic programme “on track” despite challenges
Turkey’s finance minister said the country’s economic transformation was on track and that the country was prepared to deal with slower growth.
Finance Minister Mehmet Simsek said that ...
Goldman Sachs cuts US recession odds to 35 per cent from 45 per cent on trade truce optimism
Goldman Sachs cut its recession forecast for the US to 35 per cent from 45 per cent, the first major brokerage to do so, after a temporary tariff truce with China boosted ...
Honda sees full-year profit down 59 per cent as US tariffs bite, postpones Canada EV plans
Japan’s Honda Motor (7267.T) forecast a 59 per cent profit decrease in the current financial year and said it would put on hold a plan to build an EV supply ...
ECB to stand by past stimulus policies in strategy review
The European Central Bank will stand by its aggressive stimulus policy of the last decade in a strategy review, side-stepping calls for self-criticism after a bout of high inflation and ...
Samsung launches slimmest smartphone as races against rival Apple
Samsung Electronics (005930.KS) made public on Tuesday its slimmest flagship model to date, complete with enhanced artificial intelligence features, as it seeks to get ahead of rival Apple (AAPL.O) ...
Self-driving trucks: en route to transform Europe’s freight sector
EU-funded researchers are accelerating the rollout of self-driving trucks on public roads to solve driver shortages and improve safety and sustainability in Europe’s logistics sector.
By Bárbara Pinho
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Apple’s plan to offer AI search options on Safari a blow to Google dominance
Apple’s plans to add AI-powered search options to its Safari browser are a big blow to Google, whose lucrative advertising business relies significantly on iPhone customers using its search ...
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’...