TheBuzz24

The U.K. economy expanded much more than expected in February. Such growth is expected to be short-lived given events in the Middle East. The International Monetary Fund warned that the U.K. could see the biggest hit to growth from the Iran war of any major economy. The U.K. economy grew by 0.5% in February, according […]

India’s goods exports fall over 7% in March to $38.9 billion. Exports to India’s biggest sector, the U.S., dropped 21% last month. Shipments to the UAE, India’s second‑largest export destination, plunged nearly 62% in March. Indian exporters face a “troika of headwinds,” as the Iran war drives cost inflation, sharply raises shipping and insurance costs, […]

TSMC posted a 58% income jump, driven by strong AI chip demand. Revenue beat forecasts, marking a fourth straight quarterly record. TSMC stated advanced chips accounted for about 75% of total wafer revenue in the quarter. In first, Taiwan Semiconductor Manufacturing Enterprise on Thursday reported a 58% growth-quarter gains, beating estimates and hitting a fresh record […]

Hong Kong will halve profits tax to 8.25% for qualifying physical commodity traders. Move aims to boost Hong Kong’s commodity trading hub ambitions and boost shipping demand. The city’s involvement in commodity trading remains “relatively limited” despite its status as a shipping hub. Hong Kong is rolling out a recent tax break for commodity traders […]

Strategists are debating de-dollarization again after a Deutsche note predicted the rise of the “petroyuan” amid the Iran war. Deutsche’s analyst sees the dollar in structural decline but Franklin Templeton responded, saying it saw no alternative to it. Others call for a middle ground whereby the dollar’s reserve status is eroded but not eliminated. The […]

Gross domestic product grew 5% in the three months to March, accelerating from 4.5% in the prior quarter. Urban fixed-asset investment climbed 1.7% in the first quarter from a year earlier. China’s retail sales grew 1.7% in March from a year earlier. Industrial output expanded 5.7%. The urban survey-based unemployment rate in March was 5.4%, […]

Anthropic is planning a major expansion in London and has secured office space with a capacity of 800 humans. “The UK combines ambitious enterprises and institutions that understand what’s at stake with AI safety with an exceptional pool of AI talent,” Pip White, Anthropic’s head of EMEA north, mentioned in a statement. Anthropic commented Thursday […]

EasyJet noted it took on roughly $34 million in additional fuel costs due to the U.S-Iran war. The budget carrier mentioned the Middle East conflict is weighing on customer bookings. It hedged 70% of its summer fuel with prices locked in at $706 per metric ton of jet fuel. EasyJet’s stock fell on Thursday after […]

Kering CEO Luca de Meo stated an ambitious strategy to get the enterprise back on a growth track after a year-long slump. “In a nutshell, a model that worked for a decade, is no longer effective for us,” he commented during the company’s Capital Markets Day in Florence. The enterprise is aiming to more than […]