Japan to Unveil Record Budget With Ramped-Up Defense Spending
Japan is set to announce a record-breaking budget for the next fiscal year, allocating significant resources to defense in response to escalating regional tensions. The proposed spending plan is expected to exceed ¥114 trillion ($780 billion), reflecting a major shift in Tokyo’s fiscal priorities as it seeks to bolster its military capabilities against perceived threats […]
Elon Musk’s xAI lands $6B in new cash to fuel AI ambitions
Elon Musk’s xAI has announced a substantial $6 billion funding boost, signaling a major leap forward in its pursuit of artificial intelligence innovation. The funding round, backed by prominent tech investors and global venture capital firms, positions xAI as a significant player in the competitive AI landscape. This development underscores Musk’s ambitious vision to redefine […]
China extends EU brandy anti-dumping investigation by three months
China has prolonged its anti-dumping investigation into EU brandy imports by three months, intensifying scrutiny in the midst of rising global trade friction. The extension, announced by the Ministry of Commerce, aims to further assess whether European brandy producers are selling below market value, potentially harming domestic producers. Initially set to conclude this month, the […]
Big banks, business groups sue US Fed over annual stress tests
Major U.S. banks and industry groups have filed a lawsuit against the Federal Reserve, challenging changes to its annual stress test framework. The lawsuit, filed on behalf of prominent financial institutions, claims the modifications unfairly impact large banks by making compliance costly and overly burdensome. These stress tests, introduced after the 2008 financial crisis, are […]
Palm oil falls on weak Malaysia exports, competition with soyoil
Palm oil prices dipped as Malaysia’s exports continued to slump, signaling weaker global demand. Shipments from Malaysia, the second-largest producer, fell 5.2% in December compared to the prior month, reflecting softer buying interest from top consumers like India and China. Export weakness combined with growing stockpiles has intensified pressure on the edible oil market. Adding […]
Japan’s Kato: Will take appropriate action against excessive moves
Japan’s Finance Minister Shunichi Kato reiterated the government’s commitment to addressing excessive fluctuations in the yen. Speaking on Tuesday, Kato emphasized that authorities are closely monitoring currency markets and stand ready to take appropriate action if speculative moves disrupt economic stability. This statement aligns with Japan’s ongoing policy of ensuring stable exchange rates to support […]
Biden to Decide on US Steel Acquisition After Panel Deadlocks
The Biden administration is under pressure to make a pivotal decision on the proposed acquisition of US Steel after a federal review panel failed to reach a consensus. The Committee on Foreign Investment in the United States (CFIUS) recently deadlocked on the matter, passing the responsibility to the president for final approval or rejection of […]
BOJ debated need for caution in raising rates, Oct minutes show
The Bank of Japan (BOJ) displayed caution over the prospect of raising interest rates during its October policy meeting, as revealed in the minutes released today. Discussions highlighted concerns over premature tightening, with members emphasizing the potential risks to economic recovery if rates are raised too quickly. While some officials acknowledged signs of inflation persistence, […]
Mexico’s inflation ticks down, backing gradual pace of interest rate cuts
Mexico’s inflation slowed to 3.9% in December, the lowest in over three years, driven by declining food and energy prices. The figure aligns with expectations, further signaling that the central bank’s recent policy adjustments are bearing fruit. Core inflation, which excludes volatile items, dipped to 5.2%, marking a steady decline from its peak earlier this […]
Israeli strikes across Gaza kill at least 50 people
At least 50 people have been killed in a series of Israeli airstrikes across Gaza, marking a dramatic escalation in the ongoing conflict. The strikes, which targeted multiple areas within the densely populated enclave, have drawn sharp international scrutiny and heightened fears of a broader regional escalation. Israeli officials stated that the attacks were aimed […]