Business

Asian stock markets moved higher on Wednesday as investors reacted positively to U.S. President Donald Trump’s assurance that he does not plan to remove Federal Reserve Chairman Jerome Powell. The comments came after earlier speculation that Powell’s job was at risk following the Fed’s pause on rate cuts. Japan’s Nikkei 225 rose by 1.9%, reaching 34,875.64 in the afternoon session. …

The International Monetary Fund has revised its economic outlook, warning that global and U.S. growth prospects have deteriorated due to rising trade tensions and policy uncertainty linked to President Donald Trump’s tariff strategy. According to the IMF’s latest World Economic Outlook, global growth for 2025 is expected to slow to 2.8%, a notable drop from its January projection of 3.3%. …

In a deal that marked the depth of economic relations between Saudi Arabia and the US, Crown Prince Mohammed bin Salman of Saudi Arabia announced an investment commitment of $600 billion to revamp strategic sectors across the United States. He reportedly made this commitment in a discussion with former US President Donald Trump, showing a bold vision for strengthening the …

Canada’s Competition Bureau has taken legal action against Alphabet’s Google, accusing the company of engaging in anti-competitive practices within the online advertising sector. The Bureau has filed an application with the Competition Tribunal, requesting a court order that would force Google to divest two of its major ad technology tools. Additionally, the watchdog is seeking a penalty to ensure Google’s …

The United States is considering a major shift in its trade relations with Canada and Mexico, with President-Elect Trump proposing tariffs of up to 25 percent on key imports. This includes critical goods such as crude oil, automobiles, and agricultural products. The proposed tariffs come amid increasing tensions over border security and trade imbalances between the countries. For Canada, the …

On Wednesday, November 27, the Australian House of Representatives passed a bill that bans children under the age of 16 from accessing social media platforms. This groundbreaking legislation now awaits approval from the Senate to become law. The bill holds social media companies such as TikTok, Facebook, Snapchat, Reddit, X, and Instagram accountable, imposing fines of up to 50 million …

Spirit Airlines filed for bankruptcy protection on Monday, citing growing financial challenges, including rising losses, overwhelming debt, increased competition for cost-conscious travelers, and failed merger attempts with other airlines. Despite the filing, Spirit assured passengers that operations will continue as usual, with flights running and existing bookings, credits, and loyalty points remaining valid. Filing for bankruptcy is a common strategy …

U.S. citizens now collectively owe a record-breaking $1.17 trillion in credit card debt, according to a report by the Federal Reserve Bank of New York, as detailed by CNBC. In the third quarter of 2024 alone, credit card balances rose by $24 billion, marking an 8.1% increase compared to the same time last year. Despite this significant growth, delinquency rates …