Business

Federal Reserve officials on Wednesday will likely signal a slower pace of interest rate cuts next year compared with the past few months, which would mean that Americans might enjoy only slight relief from still-high borrowing costs for mortgages, auto loans and credit cards. ADVERTISEMENT The Fed is set to announce a quarter-point cut to its benchmark rate, from about …

Japanese car makers Nissan and Honda have confirmed they are in discussion about closer collaboration but denied reports they are to merge. ADVERTISEMENT Nissan’s share price soared almost 24% in Tokyo after reports citing unnamed sources said it might merge with Honda to form the world’s third-largest car making group. That is the largest share-price jump for the company in …

The biggest increase since March and the second rise in two months is likely to cement market expectations that the Bank of England will keep its main interest rate unchanged after its policy meeting on Thursday. ADVERTISEMENT UK inflation has risen to its highest level since March, driven by an increase in fuel prices last month, official figures have revealed. …

French banking stocks fell amid Moody’s downgrade on seven banks’ ratings amid the ongoing political turmoil. Both French government bonds and its stock markets experienced selloffs due to souring investment sentiment. ADVERTISEMENT Moody’s cut the ratings of seven French banks just days after downgrading France’s credit score, as the country grapples with prolonged political instability. The move caused a broad-based …

The FCA has launched a consultation on the proposed launch of a new private stock market called Pisces. Here’s a look at how it would work. ADVERTISEMENT If successful, the new private stock market could generate a pipeline of companies for a full IPO on a public market in the future. However, there will be restrictions on who can buy …

The Italian carmaker believes the market is not ready for the brand’s fully electric luxury car. ADVERTISEMENT Lamborghini has announced that it will launch its first fully electric vehicle in 2029, one year later than previously planned. According to Reuters, CEO Stephan Winkelmann said that the luxury sports car market lacks readiness for full electrification. “We do not think 2029 …

European Union privacy watchdogs hit Facebook owner Meta with fines totaling €251 million on Monday after an investigation into a 2018 data breach on the social media platform that exposed millions of accounts. ADVERTISEMENT Ireland’s Data Protection Commission issued the penalties after wrapping up its inquiry into the breach, when hackers gained access to user accounts by exploiting bugs in …

As fears of a trade war rise, the Italian premier is seen as one of US president-elect Donald Trump’s closest EU allies. ADVERTISEMENT Italian Prime Minister Giorgia Meloni said on Tuesday that the EU must take a pragmatic approach with the incoming Trump administration in order to head off a trade war between Europe and the US. The EU has …

Cryptocurrencies are gaining from expectations that President-elect Donald Trump will favour digital currencies during his time in the White House. ADVERTISEMENT Bitcoin’s price hit $107,487 (€102,429.74), a new all-time high on Monday, according to Marketwatch. The queen of cryptocurrencies has gained more than 50% since Donald Trump won the presidential election last month, its price is up roughly 150% year …

Financial experts are more optimistic about Germany’s economy as the ZEW index rebounded more than expected in December, its highest in four months, driven by ECB rate cut prospects and snap elections. Yet, the ifo survey shows businesses remain far more pessimistic about 2025. ADVERTISEMENT Financial experts’ confidence in the German and Eurozone economies improved in December, buoyed by the …