BP News: Economy

economy

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Global Financial Updates: Tariff Shocks, IPOs, and Business Outlooks

15 hours ago

Japan pushes for wage increases to boost economic growth.
- Trudeau's Canada counters Trump's tariffs, shifting trade policies.
- Saudi Arabia IPO aims to fund health sector development.
- Microsoft under investigation by U.S. antitrust authorities.
- Global markets react to tariffs, adjust economic strategies.
- Texas companies use 'Two-Step' tactic in legal strategies.
- Altice France faces mobile market challenges with revenue drop.

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Aston Martin Seeks $210M Funding After Second Profit Warning in Two Months

16 hours ago

Aston Martin issues second profit warning in two months.
- Company plans $210M fund via shares and debt for growth.
- 2023 profits forecast to drop to $280M due to delays.
- Valiant supercars' deliveries postponed to 2025.
- Aston Martin accelerates its shift towards electrification.
- Shares fall to a two-year low at 98.1p amid challenges.
- 1,000 fewer cars produced this year due to delays.

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Federal Reserve Eyes Gradual Interest Rate Cuts Amid Economic Uncertainty

1 day ago

Fed plans gradual rate cuts with easing inflation yet above 2% target.
- November's FOMC agrees to cut rates, showing policy flexibility.
- Economic uncertainties from Trump policies affect Fed's caution.
- Federal Reserve will adjust rates based on economic changes.
- Strong job market supports gradual interest rate reductions.
- Officials stress gradual rate cuts for prudent economic tuning.
- December cut likelihood under 60%, per November meeting insights.

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Russian Ruble Plummets Amid Sanctions and Economic Strain

14 hours ago

Russian ruble falls to 113 per dollar, weakest since Ukraine war began.
- U.S. sanctions on Gazprombank sharply impact Russia's economy.
- Moscow suggests weak ruble helps exporters despite causing inflation.
- Central Bank's 21% interest rate fails to stabilize the ruble.
- Sanctions on 50 Russian banks strain the national financial system.
- Energy exports suffer from reduced oil prices and sanctions.
- Inflation in Russia nears 8.5%, raising fears of economic stagflation.

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CMA Confirms Real Savings from Supermarket Loyalty Cards, Urges Shoppers to Compare Prices

20 hours ago

CMA confirms savings on loyalty cards at five UK supermarkets in Nov 2024.
- Shoppers can save 17%-25% on loyalty-priced items, says CMA.
- CMA advises comparing prices as loyalty deals aren't always cheapest.
- 40% of shoppers mistrust loyalty deals despite actual savings.
- Asda and Aldi not included due to different loyalty schemes.
- Young shoppers think non-member prices are inflated in promotions.
- CMA highlights loyalty cards' role in collecting customer data.

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Celebrate Small Business Saturday: Local Support Fuels Growth Since 2010

21 hours ago

Small Business Saturday supports over 34 million U.S. businesses.
- Event was established in 2010 by American Express and partners.
- Small businesses have driven $201 billion in consumer spending.
- They represent 99.9% of all businesses in the United States.
- Almost half of the U.S. workforce is employed by small businesses.
- Day promotes local shopping and strengthens community ties.
- Recent years show unprecedented growth in small businesses.

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Brighton i360 Faces Financial Woes with $51m Debt, Future Uncertain

20 hours ago

Brighton's i360 tower owes $51m to the city council, now facing financial trouble.
- The i360 opened in 2016, offering coastal views from 162 meters high.
- Visitor numbers dropped due to the pandemic, weather, and rising costs.
- Administrators are considering restructuring or selling the tower.
- Despite debts, the i360 remains operational while solutions are being explored.
- The tourist attraction's future is uncertain, risking closure.
- Brighton & Hove City Council funded the i360, facing financial impact now.

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Warren Buffett Donates $1.15B in Stock to Charities, Updates Will Plans

19 hours ago

Warren Buffett donates $1.15B in Berkshire stock to family charities.
- Buffett's donations align with his goal to avoid creating a financial dynasty.
- Since 2006, Buffett has donated over 56.6% of his Berkshire shares.
- Buffett's lifetime charitable giving exceeds $60 billion.
- He updated his will to ensure all shares are eventually donated.
- Buffett encourages parents to discuss estate plans with their children.
- Valued at $150B, Buffett is the world's sixth-richest person.

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Subway Ends $6.99 Meal Deal Early, Citing Underwhelming Sales Performance

15 hours ago

Subway ends $6.99 meal deal early due to poor sales.
- Deal started November 3; ended early on November 27.
- Promotion included sub, drink, and chips or cookies.
- Franchisees concerned the deal might lead to losses.
- Carrie Walsh to be interim CEO; Chidsey exits in 2024.
- Digital offer: 20% off any app order until Jan 5.
- Over 7,000 Subway locations shut since 2015 decline.

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Mortgage Uncertainty Grows as Elections Affect Rates Amid Economic Shifts

1 day ago

Mortgage rates stay at 7%, unlikely below 6% in 2024, affecting affordability.
- High mortgage rates worsen low housing inventory, troubling buyers.
- Fed hints slow rate cuts; policy uncertainty keeps rates high.
- Strong economic data and inflation drive up mortgage rates.
- Experts advise better credit and bigger down payments for buyers.
- Volatility and politics signal continued high mortgage rates.
- Homebuyers face uncertainty despite predictions of possible rate drops.

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