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The Reserve Bank of Australia’s decision to implement a modest interest rate cut has set the stage for a political showdown, with Prime Minister Anthony Albanese facing growing pressure to call a federal election. The cut, though welcomed by Labor, has left many wondering if it is the extent of relief households can expect, prompting […]
Washington, D.C. – February 14, 2025 – President Donald Trump has ordered the U.S. Treasury Department to halt the production of pennies, reigniting a debate that has persisted for decades. The decision is part of his administration’s broader effort to reduce what he calls “wasteful spending” in the federal government. “It makes no sense to […]
The Kenyan shilling remained unchanged against the U.S. dollar on Tuesday, as data from the London Stock Exchange Group (LSEG) showed no significant movement in the exchange rate. At 0931 GMT, the shilling was quoted at 128.90/129.40 per dollar, matching the same rate it closed at the previous day. This stable performance has caught the […]
Nigeria’s largest labour union, the Nigeria Labour Congress (NLC), has made a significant move by suspending its planned nationwide protest against a 50% hike in telecommunications tariffs, following an agreement to enter talks with the government. This comes after a week of escalating tensions between the union, which represents millions of workers across the country, […]
The U.S. economy faces a significant challenge as it navigates the complex interplay of persistent high inflation, rising tariffs, and the Federal Reserve’s efforts to stabilize economic conditions. As President Trump continues to threaten new tariffs, particularly targeting countries like China, Mexico, and Canada, the central bank is under pressure to rethink its approach to […]
Oil prices are headed for a weekly decline as heightened concerns over global trade tensions and potential tariffs threaten to disrupt the energy markets. The latest round of uncertainty stems from U.S. President Donald Trump’s tariff proposals, which have cast a shadow over global oil trade. With tariffs looming on imports from countries such as […]
The U.S. dollar has experienced a sharp decline following remarks from former President Donald Trump, suggesting that he may soften his approach toward China tariffs if he were to regain office. This statement has created ripples in the financial markets, igniting a flurry of speculation about the future of the U.S.-China trade relationship and the […]
In a significant move aimed at managing rising costs and maintaining financial stability, UK supermarket giant Sainsbury’s has announced plans to cut over 3,000 jobs. This decision comes as the company grapples with an increasingly difficult economic environment, which has been affecting businesses across the retail sector. The decision to lay off workers, particularly in […]
In a significant blow to the reputation and financial standing of German sportswear giant Puma, shares plunged by 20% following a disappointing quarterly earnings report. This sharp drop in share value has raised serious concerns among investors and analysts, signaling potential difficulties ahead for the brand in a highly competitive market. The weak profit results, […]
In a surprising turn of events, government borrowing in the UK surged beyond expectations in December, marking the highest level of borrowing for the month in four years, according to official figures from the Office for National Statistics (ONS). The UK government borrowed a total of £17.8 billion in December 2024, a sharp increase of […]
