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BUSINESS6d agoUnderground and illegal economy in Italy worth 218.2 billion in 2024 - IstatShare of GDP down to 9.9% from 10.2% in 2023ANSA [en]
BUSINESS6d agoSoma Gold arranges C$2.5M revolving credit facility from CEO Geoff HampsonSoma Gold has arranged a C$2.5 million revolving credit facility from its CEO, Geoff Hampson. This matters as it provides the company with additional financial liquidity and flexibility.Seeking Alpha Tech
BUSINESS6d agoChina’s AI boom, self-sufficiency push fuel earnings surge for local chip firmsChinese chip and tech firms have flagged as much as six-fold growth in unaudited third-quarter profits, as huge demand for home-grown processors and artificial intelligence infrastructure filters through links in the supply chain amid the country’s push for self-reliance. Shanghai-listed Yuanjie Semiconductor Technology expected its quarterly net profit to land between 403 million yuan and 453 million yuan, up 579 per cent to 660 per cent from a year earlier. The maker of laser chips for optical...South China Morning Post
BUSINESS6d agoFed’s Warsh sees AI boosting productivity but gives no signal on next rate hikeUS Federal Reserve Chairman Kevin Warsh said in Bangkok on Friday that the global economy has proved surprisingly resilient and called AI the most consequential change of his lifetime, but gave no hint on interest rates ahead of the Fed’s meeting this month.EuroNews [en]
BUSINESS6d agoBiggest stock movers Friday: TSLA, CNS, and moreSeeking Alpha Tech
BUSINESS6d agoChina-North Korea border bridge may do little to spur trade, experts saySanctions and a North Korean leadership that prioritises security dim prospects for trade, analysts say.Al Jazeera [en]
BUSINESS6d agoPutin places assets of several more foreign companies, including flooring manufacturer Tarkett, under temporary managementPresident Vladimir Putin has placed the Russian assets of several European companies, including French flooring manufacturer Tarkett, under temporary management, naming Tsentr Kapital as the managing company.Meduza [en]
BUSINESS6d agoFlorida and Texas are drowning in 'For Sale' signs, and Miami is deepestFlorida and Texas, particularly Miami, are experiencing a significant increase in real estate 'For Sale' signs. This suggests a notable shift or potential downturn in the housing markets of these states.Seeking Alpha Tech
BUSINESS6d agoEurozone posts €16.1B trade deficit in AugustThe Eurozone recorded a trade deficit of €16.1 billion in August. This indicates a specific economic performance metric for the region during that month.Seeking Alpha Tech
BUSINESS6d agoHyderabad airport bags National Energy Leader award for eighth consecutive yearHyderabad airport has received the National Energy Leader award for the eighth consecutive year. This achievement recognizes its sustained performance in energy management.The Hindu
BUSINESS6d agoEU backs trade ‘kill switch’, China exports surge, third-quarter GDPEuropean Union leaders supported creating a tool to potentially shut out Chinese goods as a growing flood of low-cost imports pushed the bilateral trade deficit to a record. Officials could start work on developing a trade “kill switch”, European Commission President Ursula von der Leyen signalled to EU leaders at a Brussels meeting on Thursday, the South China Morning Post reported, citing unidentified people briefed on the talks. Leaders requested a proposal by year-end, Bloomberg News said....South China Morning Post
BUSINESS6d agoBanks are pulling back as AI's massive debt pile disconnects from economic realityWall Street appears to be hitting its limit on AI, and financiers are starting to say the quiet part out loud: All of this AI spending doesn't look like it can pay off, at least not for everyone.Why it matters: The gap between what it costs to build AI infrastructure and what companies are actually paying to use it is widening. Wall Street's anxiety is surging as the debt piling up to fund data centers and chips looks increasingly disconnected from economic reality.Driving the news: A massive gap is opening up between AI infrastructure spending and expected returns.While AI providers are projeAxios
BUSINESS6d agoIndonesia’s central bank insists it is independent. Investors want proofIndonesia has spent months trying to persuade investors that its economy is on the right course. A weakening rupiah, mounting budgetary pressures and a series of contentious policy decisions have made that task harder. Doubts about the management of Southeast Asia’s largest economy have now coalesced around its central bank, whose independence has come under intense scrutiny recently as President Prabowo Subianto seeks to steer economic policy. The appointment of Destry Damayanti – initially as...South China Morning Post
BUSINESS6d agoLi Auto secures equity financing for chip businessSeeking Alpha Tech
BUSINESS6d agoStock futures mixed as tech stocks look to extend recoverySeeking Alpha Tech
BUSINESS6d agoKSRTC ready to run private buses on wet lease basis, Transport Minister C.P. John tells Keralam AssemblyResponding to a calling attention motion on crisis facing private bus sector, Minister says KSRTC and private bus operators can function in a complementary manner to improve public transport rather than be seen as forces working at cross purposesThe Hindu
BUSINESS6d agoNAHCON pushes sustainable Hajj fund management digital transformation at global forumNAHCON emphasised the importance of coordination among relevant agencies, stronger institutional partnerships, and robust digital systems to protect Hajj operations from global financial volatility. The post NAHCON pushes sustainable Hajj fund management digital transformation at global forum appeared first on Premium Times Nigeria.Premium Times
BUSINESS6d agoCocoa: why the alliance between Ivory Coast and Ghana is falteringL’association nouée en 2018 entre Abidjan et Accra pour peser sur le marché mondial du cacao montre des signes d’essoufflement. Ce tandem vacille alors que les deux pays sont sous pression pour renforcer la traçabilité de leurs fèves.Jeune Afrique
BUSINESS6d agoLVMH touts ‘special bond’ with China as ‘subdued’ backdrop weighs on salesFrench luxury giant LVMH Group kicked off a global open-house event showcasing its craftsmanship in Shanghai on Thursday, as the event’s founder Antoine Arnault hailed a “special bond” with Chinese customers at a launch event in Paris. It came as the group faced pressure from sluggish demand in China and a backlash over a lawsuit against a local tea company. At the launch event at the Samaritaine department store in central Paris for this year’s Les Journées Particulières, first initiated by...South China Morning Post
BUSINESS6d agoEni to drill up to 6 wells offshore Mozambique for Coral North project , third FLNG being pursuedEni plans to drill up to six offshore wells for its Coral North project in Mozambique and is pursuing a third floating liquefied natural gas facility. This indicates significant investment and expansion in the energy sector for the region.cnbcafrica.com · South Africa
BUSINESS6d agoBusinesses win diversity awardsBusinesses have been recognized with diversity awards. This highlights achievements in fostering diversity within the corporate sector.jdnews.com · United States
BUSINESS6d agoAspatria cheese factory expansion gets permit approvalA cheese factory expansion in Aspatria has received permit approval, indicating progress for a local business venture. This suggests economic activity and development in the area.in-cumbria.com · United Kingdom
BUSINESS6d agoSonesta Opens 20th Signature Inn By Sonesta Property with Signature Inn BransonSonesta has opened its 20th Signature Inn property, located in Branson. This marks a significant expansion for the hotel brand.hotelnewsresource.com · United States
BUSINESS6d agoIMF raises Africa growth outlook, warns of shrinking aidThe International Monetary Fund raised its growth forecast for sub-Saharan Africa to 4.5% this year and its Africa Director Zeine Zeidane praised the continent's resilience.Africanews [en]
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