Latest Business News
Trump Threatens 100% Tariffs on Canada Over China Trade Deal
President Trump warned of immediate 100% tariffs on all Canadian goods if Canada finalizes its trade deal with China, following PM Mark Carney's Davos speech challenging US hegemony. Bilateral trade exceeded $900 billion in 2025, with a US surplus over $85 billion, making tariffs devastating for both economies.
Experts say the threats will hurt the US as much as Canada due to interconnected supply chains.
Economic Leaders at Davos Declare Global Growth Resilient Amid Trump Noise
At Davos, ECB's Christine Lagarde, IMF's Kristalina Georgieva, and WTO's Ngozi Okonjo-Iweala urged focus on growth, debt reduction, and inequality despite US tariff threats. They noted resilience in global economy even with Trump disruptions like Greenland tariff proposals, which were later withdrawn.
Growth is holding but insufficient against high debt levels, calling for alternative plans.
Intel Issues Weak Forecast After Supply Shortages Hit Sales
Intel reported weak quarterly guidance due to supply shortages impacting sales, disappointing markets. This comes as S&P 500 tech earnings season accelerates, with Magnificent Seven like Meta, Tesla, and Microsoft reporting soon.
Intel's results highlight challenges in the chip sector amid broader tech focus.
Xiaomi Reports 81% Q3 Profit Jump Driven by EV Sales
Xiaomi's third-quarter profit surged 80.9% year-over-year, fueled by strong electric vehicle sales and innovations. The company achieved its first net profit from EV operations in a single quarter.
This underscores China's growing EV dominance in global markets.
Akzo Nobel and Axalta to Merge into $25 Billion Paint Giant
AkzoNobel and Axalta Coating Systems announced a merger creating a $25 billion enterprise valued paint leader. AkzoNobel shareholders will receive a 2.5 billion euro dividend.
The deal positions the combined firm as a powerhouse in coatings amid industry consolidation.
Hyundai Pledges Record $85.8 Billion Investment in South Korea
Hyundai Motor Group plans $85.8 billion investment over five years in AI, robotics, and EVs to boost South Korea's innovation and exports. This massive commitment aims to fortify national tech capabilities.
It signals aggressive expansion in cutting-edge mobility sectors.
Saudi Zahid Group Acquires South African Barloworld for $1.3 Billion
Saudi Arabia's Zahid Group completed its $1.3 billion acquisition of 123-year-old Barloworld. The R23 billion deal marks a major Middle East entry into African industrials.
It reflects growing cross-continental corporate expansions.
World's Top TikToker Khaby Lame Sells Company in $900 Million Deal
Senegal's Khaby Lame, the biggest TikTok creator, sold his company for $900 million, gaining controlling shareholder status. The deal highlights the creator economy's shift toward equity ownership.
It underscores social media influencers' rising business power.
Magnificent Seven Tech Earnings in Focus This Week
S&P 500 earnings accelerate with Meta, Tesla, Microsoft on Wednesday and Apple Thursday, amid questions if results remain 'magnificent'. Canadian firms like Rogers and CN also report.
Tech sector drives market amid central bank previews and global data.
AI Productivity Gains Benefit Low-Wage Workers, IMF Chief Says
IMF's Kristalina Georgieva noted AI boosts productivity, making rich richer and displacing jobs, but sees silver lining for low-wage workers via economic spillovers. Davos discussions emphasized filtering Trump 'noise' for growth focus.
This aligns with resilient global economy views.
Stock Market Signals Potential Inflation Spike in 2026
Early 2026 stock market signals warn of rising inflation, potentially leading to a tough year for investors. This follows record gold and silver inflows amid US volatility and 'Sell America' sentiment.
Precious metals saw unprecedented 2025 investments.
Citi Relies on Star Recruits from JPMorgan, BofA to Restore Reputation
Citigroup's Jane Fraser hired seniors from JPMorgan, Bank of America, and PwC to navigate regulatory scrutiny and rebuild trust. Layoffs continue into March amid restructuring.
These moves aim to push Citi forward post-challenges.