Latest Business News
New Trade Map Emerges in Davos Amid Trump Tariffs
At the World Economic Forum in Davos, experts discuss how Trump tariffs are reshaping global trade, prompting countries like India to recalibrate strategies and pursue FTAs. Panels highlight tectonic shifts, supply chain diversification, and a weakening international trade framework. Companies adopt wait-and-see postures amid rising uncertainties.
Xiaomi Reports 81% Q3 Profit Surge on EV Sales Boom
Xiaomi achieved an 80.9% profit increase in Q3, driven by strong electric vehicle sales marking the first profitable quarter for its EV operations. The growth stems from innovative initiatives boosting the company's performance. This underscores the rising impact of EVs on tech giants' revenues.
AkzoNobel and Axalta Announce $25B Paint Merger
AkzoNobel, maker of Dulux paint, will merge with Axalta Coating Systems to form a $25 billion enterprise. AkzoNobel shareholders receive a 2.5 billion euro dividend. The deal positions the new entity as a paints industry leader.
Hyundai Pledges Record $85.8B Investment in South Korea
Hyundai Motor Group plans $85.8 billion investment over five years in South Korea, targeting AI, robotics, and EVs. The move aims to boost innovation and vehicle exports. It represents the largest such commitment by the group.
Goldman Sachs Raises Gold Price Forecast to $5,400
Goldman Sachs updated its December 2026 gold forecast to $5,400 per ounce due to robust private sector and central bank demand. The revision reflects sustained buying trends. Gold remains a key safe-haven asset amid uncertainties.
US Jobless Claims Hit Two-Month High Amid Shutdown Fears
Continued US jobless claims rose to 1.957 million for the week ending October 18, per Labor Department data. This signals underlying labor market weakness despite strong GDP. Economists warn of recession risks masked by headline figures.
Dangote Refinery to Reshape Global Fuel Flows
Nigeria's Dangote refinery gains prominence as Europe and US close plants, tightening fuel markets. Expansion and fixes enhance its global role. The facility positions Africa as a key player in energy supply.
BYD Opens First EV Brand Centre in Tanzania
China's BYD, the world's largest EV maker, launched its inaugural brand centre in Tanzania. This advances BYD's African expansion into emerging EV markets. It signals growing Chinese EV presence on the continent.
Warner Bros. Discovery Rejects Paramount-Skydance Buyout
Warner Bros. Discovery turned down a revised buyout bid from Paramount and Skydance. Meanwhile, Paramount extends its offer for Warner and eyes a proxy fight. Warner's board prefers a Netflix deal.
Jeff Bezos' Blue Origin Unveils SpaceX-Rival Satellite Network
Blue Origin revealed plans for a satellite constellation to challenge SpaceX's orbital dominance. The initiative advances Bezos' grand space ambitions. It intensifies competition in satellite internet services.
Moody's Economist Warns US Closer to Recession Than GDP Shows
Mark Zandi of Moody's highlights three reasons the US nears recession despite strong GDP, including masked weaknesses and fading market wealth effects. Underlying data reveals vulnerabilities. Recession risks persist into 2026.
YouTube CEO Pledges Crackdown on AI Slop and Deepfakes
YouTube's CEO announced measures to combat 'AI slop' and deepfakes on the platform. This addresses rising concerns over AI-generated misinformation. Enhanced moderation aims to improve content quality.