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The UK maintains that its Tech Prosperity Deal with the US, valued at £30 billion, is not permanently halted despite recent tensions. The agreement, which encompasses advanced technologies like artificial intelligence and quantum computing, faced delays due to US concerns over Britain's trade barriers. Concurrently, the Trump administration has taken a hard stance against European tech firms, threatening penalties for perceived discriminatory practices against American companies. This move hig..

The recent decision by the Federal Reserve to cut interest rates by 0.25 percentage points reflects deep concerns about the labor market and inflation. This marks the third rate cut this year, a move taken amidst a divided committee and incomplete economic data due to a government shutdown. Fed Chair Jerome Powell emphasized the need for unity, yet differing opinions within the board indicate ongoing uncertainty regarding the economic landscape. President Trump’s pressure on Powell and potential..

In recent speeches, President Trump has asserted that the American economy is thriving, dismissing the affordability crisis as a fabrication. However, contrasting data reveals rising unemployment and inflation, challenging his optimistic narrative. Public sentiment towards the economy is shifting, with many Americans attributing economic woes to his administration. Trump's administration has faced criticism for the impact of tariffs, which have not yielded the anticipated economic benefits and..

China's export sector is experiencing a significant rebound, with a 5.9 percent increase in November compared to the previous year. This growth comes alongside a trade surplus that has surpassed $1 trillion for the first time, reaching $1.08 trillion. While exports to the U.S. have declined due to tariffs, shipments to markets in Southeast Asia, Europe, and elsewhere have surged, displacing traditional manufacturing powers. The recent rise in exports is also supported by easing trade tensions..

Costco has initiated a significant lawsuit against the U.S. government, seeking a refund for tariffs imposed on imported goods. The company argues that these tariffs, enacted under President Trump's administration, were collected unlawfully. Joining Costco in this legal battle are various small and medium-sized enterprises, amplifying the call for justice against the perceived misuse of power. Central to the case is the International Emergency Economic Powers Act (IEEPA), which Costco claims d..

Bitcoin experienced a significant downturn, plummeting over 5% to around $86,000, marking its most severe November since 2018. This decline triggered substantial liquidations, with approximately $539 million wiped from the market, predominantly affecting long positions in both Bitcoin and Ethereum. Analysts suggest that the selloff was fueled by a sudden influx of selling volume rather than any specific news event. The cryptocurrency market as a whole suffered, with total market capitalization..

Chancellor Rachel Reeves has unveiled a £26 billion budget aimed at addressing the economic challenges faced by the UK. The strategy primarily targets the wealthiest households by introducing a new council tax surcharge for properties valued over £2 million and increasing taxes on dividends, savings, and property income. While some Labour MPs view this budget as a progressive shift, public response has been mixed, with frustration surfacing over the perceived inadequacy of the plans to stimulate..

The Monopolies Commission has raised concerns about the concentration of power among major supermarket chains in Germany. With companies like Edeka, REWE, Aldi, and the Schwarz Group controlling approximately 85% of the market, competition has significantly weakened. This dominance has resulted in higher profit margins for retailers, leaving farmers and consumers at a disadvantage. Critics, including Oxfam Germany, argue that the rising food prices burden both consumers and agricultural produc..

The recent jobs report reveals a complex landscape in the U.S. labor market. While employers added 119,000 jobs in September, the unemployment rate rose to 4.4%, its highest point since 2021. This increase suggests that more individuals are entering the job market, reflecting mixed signals about economic health. The report, delayed due to a federal shutdown, shows a notable downward revision in job growth for the preceding months, indicating potential strain in the labor sector. With holiday h..

Nvidia is poised to report significant growth, largely fueled by a surge in AI spending from tech giants like Microsoft, Amazon, and Alphabet. This collective investment is anticipated to reach $440 billion, reflecting a notable 34% increase. However, concerns loom over potential cutbacks from key AI players, which may destabilize future earnings. Meanwhile, market volatility remains high, as evidenced by recent declines in the DAX index, driven by uncertainties surrounding economic data and i..

President Trump's administration is taking significant steps to alleviate the rising cost of living by reducing tariffs on essential food items such as bananas, coffee, and beef. Recent trade agreements with countries like Argentina, El Salvador, Ecuador, and Guatemala aim to lower prices and enhance economic cooperation. These initiatives also address national security concerns related to supply chains, reflecting a strategic pivot in trade policy. Additionally, the administration is offering..

The cryptocurrency market is experiencing notable turbulence, particularly with Bitcoin dipping below $99,000 for the first time since May. This decline follows a series of macroeconomic challenges, including a U.S. government shutdown and disappointing job creation figures. Analysts suggest that these external factors are prompting leveraged investors to exit positions, contributing to the overall market slump. Despite the recent downturn, some experts believe this correction could be benefic..

The Labour Party is currently grappling with internal discord as MPs express dissatisfaction with Keir Starmer's leadership strategy. This unrest has sparked speculation about potential leadership challenges from figures like Andy Burnham and Wes Streeting. Amidst growing concerns over the party's direction and recent setbacks, Starmer's administration appears unable to maintain a cohesive front. Streeting has publicly denied any involvement in plots against Starmer, emphasizing his support for..

Bitcoin's recent volatility reflects significant shifts in market sentiment, with the cryptocurrency fluctuating around the crucial $100,000 mark. After reaching highs above $110,000 earlier, Bitcoin has faced increasing selling pressure, primarily driven by institutional outflows and broader economic concerns. The recent sell-off, exacerbated by geopolitical factors and fears of dollar debasement, has led to substantial liquidations in the crypto space, marking one of the largest downturns si..

The U.S. Supreme Court is poised to decide on a pivotal case surrounding President Trump's utilization of the International Emergency Economic Powers Act (IEEPA) to impose tariffs on imports from nearly 100 countries. This case, with profound economic and political ramifications, challenges the scope of presidential power under the IEEPA. Critics, including states and small businesses, argue that these tariffs are unlawful, burdensomely increasing costs and impacting employment. The central..

Rachel Reeves, the UK's Chancellor, has expressed her readiness to consider tax increases to support critical public services such as the NHS and education. This comes as she navigates a potential multibillion-pound budget shortfall, a move that would challenge a long-standing Labour commitment against raising income tax. Despite the significant opposition from the public, polls indicate that voters may overlook broken promises if they lead to improved living conditions. The discourse around R..

The ongoing Supreme Court case regarding President Trump's tariffs highlights the tension between executive power and economic policy. Trump's administration has used tariffs as a tool for foreign policy, aiming to address trade deficits and enhance national security. However, small businesses are feeling the pinch, with many reporting significant financial strain due to increased costs of imported goods. The court's decision could either uphold Trump's authority under the International Emerge..

OPEC has decided to increase oil output by 137,000 barrels per day starting in December, while adopting a cautious stance by pausing further production hikes for the first quarter of 2024. This moderation reflects concerns over a potential supply glut, influenced by both seasonal factors and the implications of recent Western sanctions on Russia. European markets responded positively to this announcement, with oil prices rising significantly. Major oil companies are benefiting from the disrupt..

The recent US government shutdown has significantly impacted millions of Americans, particularly those relying on essential programs. With over 42 million people dependent on the Supplemental Nutrition Assistance Program (SNAP), the uncertainty surrounding its funding raises concerns. Although SNAP continues for now, other vital initiatives like the Women, Infants, and Children (WIC) program are at risk of depleting resources. The shutdown has also resulted in delayed paychecks for federal wor..

The ongoing US government shutdown, which began on October 1, has entered its second month, severely impacting millions of Americans. Federal employees are either working without pay or have been furloughed, leading to financial strain for many families. Essential services, particularly food assistance programs, are facing critical funding shortages. Economists warn that the prolonged shutdown could reduce GDP by 0.1 to 0.2 percentage points weekly, with potential long-term consequences for the..

Recent developments in US-China relations have underscored a complex and competitive dynamic, particularly highlighted during the APEC summit in South Korea. A meeting between Presidents Trump and Xi yielded a tentative agreement to lower tariffs, with China committing to address fentanyl production and resume soybean purchases from the US. Despite this truce, experts caution that tensions will persist, indicating a continued rivalry. Xi Jinping's call for 'inclusive globalization' emphasizes..

Nvidia has achieved a groundbreaking milestone by becoming the first company to reach a $5 trillion market capitalization, primarily fueled by the surge in artificial intelligence (AI) demand. This remarkable growth in value occurred just four months after crossing the $4 trillion mark. Nvidia's success stems from its pivotal role in supplying chips to major corporations like Nokia and Samsung, alongside innovative partnerships. The enthusiasm surrounding AI also impacted other companies, as d..

The recent decision by the Federal Reserve to cut its key interest rate reflects ongoing economic challenges. This reduction, aimed at addressing sluggish growth and hiring, occurs amid persistent inflation above the target rate. The ongoing government shutdown has complicated the Fed's decision-making process by disrupting essential data flow. Meanwhile, Fed Chair Jerome Powell has emphasized that further rate cuts are not assured, highlighting divisions within the board. In contrast, the Eur..

The recent meetings between US President Donald Trump and Chinese President Xi Jinping have led to a significant easing of trade tensions between the two nations. At the APEC summit and subsequent meetings in South Korea, both leaders reached agreements to reduce tariffs and increase cooperation on key economic issues. China agreed to cut tariffs on US goods and boost purchases of American soybeans and rare earth elements. In response, the US will halve its tariffs on Chinese products, and both..