President Donald Trump announced a new peace pact between Rwanda and the Democratic Republic of Congo, which he linked to US access to critical minerals. At a meeting in Washington, Trump claimed his administration had "succeeded where many others have failed," calling this the eighth war he has ended in less than a year. However, the reality on the ground is far more complicated, as fighting in eastern Congo continues despite the signing of the previous peace agreement. The agreement is not just about a ceasefire; it also concerns the mineral trade. The agreement grants US companies access...
The UK Unemployment Rate held steady at 4.4% in three months to December.The Claimant Count Change for Britain came in at 22K in January.GBP/USD trims losses to regain 1.2600 after mixed UK employment dataThe United Kingdom's (UK) ILO Unemployment Rate remained at 4.4% in the three months to December, the data published by the Office for National Statistics (ONS) showed on Tuesday. The market forecast was for a 4.5% print in the reported period.Additional details of the report showed that the number of people claiming jobless benefits climbed by 22K in January, compared with a revised drop...
Federal Reserve Governor Christopher Waller said on Tuesday that he expects trade tariffs under President Donald Trump as having only a limited impact on inflation, and that the central bank should not stall in adjusting policy. Speaking at an event in Australia, Waller said his "baseline" view was that "any imposition of tariffs will only modestly increase prices and in a non-persistent manner." He recommended that the Fed look through the effects of Trump's trade policies when adjusting interest rates. "I concede that the effects of tariffs could be larger than I anticipate, depending...
Chinese President Xi Jinping convened a high-profile meeting with leading entrepreneurs in Beijing on Monday, signalling a renewed emphasis on supporting the private sector following years of regulatory pressure. The meeting, attended by prominent figures such as Alibaba co-founder Jack Ma, Huawei founder Ren Zhengfei, BYD chairman Wang Chuanfu, and Xiaomi founder Lei Jun, highlighted the government's pivot towards fostering private enterprise. Other attendees included Yu Renrong, chairman of Will Semiconductor Co., and Wang Xingxing, founder of Unitree Robotics. According to state media...
New bank loans in China surged more than expected to a record high in January as the central bank moved to shore up a patchy economic recovery, reinforcing expectations for more stimulus in coming months as U.S. tariffs threaten to pile more pressure on the economy. Chinese banks extended 5.13 trillion yuan ($706.40 billion) in new yuan loans in January, more than quadrupling the December figure, data from the People's Bank of China showed on Friday, beating analysts' forecasts Analysts polled by Reuters had predicted new yuan loans would rise to 4.5 trillion yuan last month, up sharply...
Retail sales in the US contracted 0.9% month-over-month in January 2025, much worse than forecasts of a 0.1% drop, and following an upwardly revised 0.7% gain in December. It is the biggest decline in retail sales since March 2023, with severe weather and LA fires weighing on consumer spending. Sales at sporting goods, hobby, musical instrument, & book stores (-4.6%) recorded the biggest decline, followed by motor vehicles and part dealers (-2.8%); nonstore retailers (-1.9%); furniture (-1.7%); building material & garden equipment (-1.3%); clothing (-1.2%); health and personal care...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump announced a new peace pact between Rwanda and the Democratic Republic of Congo, which he linked to US access to critical minerals. At a meeting in Washington, Trump claimed...