Business Times - Business & Financial News, China & International Breaking News

Fed Holds Rates Steady, Signals Lack of Progress on Inflation Target

The Federal Reserve decided to hold interest rates steady on Wednesday, maintaining the target range between 5.25% and 5.5% for the sixth consecutive time since July 2022. The unanimous decision by the Federal Open Market Committee (FOMC) comes amid concerns over the lack of further progress in bringing inflation down to the central bank's 2% target.

Starbucks Shares Tumble Amid Economic Challenges and Political Boycotts

Starbucks, the global coffee giant, has seen its shares plummet nearly 14% following a challenging q

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Jeffrey Epstein's Sealed List Stirs Speculation: 150 Names Hang in Balance

The court has deferred the unsealing of a list containing over 150 names connected to Epstein until at least January 22, 2024, granting a temporary reprieve to those embroiled in the controversy.

OPEC+ Reconvenes in Early February: Oil Prices Plunge Amidst Market Speculation

On Tuesday, oil prices took a plunge during trading hours following reports from anonymous delegates indicating that OPEC+ plans to resume its regular

China

Beijing's Crackdown Meets Resistance: Jimmy Lai's Not Guilty Plea in Security Law Trial

Hong Kong tycoon and pro-democracy advocate Jimmy Lai stood firm in his plea of not guilty to charges of endangering China's national security.

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Global

Mass-Emailed Bomb Threats Lead to Evacuations, Security Scramble Across U.S. State Capitols

In an alarming series of events that underscored the heightened security concerns facing the nation, Capitol buildings across several states were evacuated and searched due to mass-emailed bomb threats.

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China

U.S. National Debt Hits Record $34 Trillion Amidst Political Gridlock, Raising Long-Term Risks

The U.S. Department of the Treasury revealed that, as of last Friday, the federal debt has surpassed $34 trillion, setting a new record. This amount equals 1.2 times the U.S. GDP. Moreover, this milestone was reached faster than expected. The Congressional Budget Office had forecasted this debt level wouldn't be hit until the fiscal year 2029.

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Finance

China's Banking Giants Tighten Grip to Shield Against Credit Crisis: Report

China's prominent banks are strategically reassessing their relationships with smaller lenders amid a deepening property crisis.

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Company

Maersk Hesitates to Resume Sailing, Questioning the Efficacy of US 'Red Sea Escort': Shipping Leaders See Stock Surge

The global shipping market continues to face uncertainty.

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Tech

US Streaming Market in Disarray: Subscriptions Drop as Inflation and Competitive Pressures Mount

The US streaming market is facing a tumultuous period as inflation continues to bite into American living costs, making it increasingly challenging for streaming services to retain customers. Many companies are under intense pressure to cut costs and improve efficiency while trying to lower service prices and enhance value for money to survive in the market.

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Entertainment

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Sports

UEFA Nations League - League A - Group 2 - Denmark v England

Jadon Sancho Nears Manchester United Exit for Borussia Dortmund Return

Manchester United's Jadon Sancho is reportedly on the brink of a sensational return to Borussia Dortmund, his former club. As the January transfer window unfolds, the talks between the two football giants are said to be advancing rapidly, with both parties keen on a deal that would see Sancho back in action in the Bundesliga.

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Lifestyle

LVMH Fund Invests in Chinese Beauty Brand Blankme's Parent Company, Signaling Confidence in the Industry

L Catterton, the private equity fund of LVMH Group, has made another investment in a Chinese company, this time in the parent company of Blankme, a domestic makeup brand specializing in base makeup products.

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Real Estate

Warning from Fitch: 88% of Major U.S. Cities Have Overvalued Housing Prices

According to reports, Fitch Ratings' latest report indicates that 88% of housing prices in major U.S. metropolitan areas are overvalued.

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Auto

Toyota's Daihatsu Temporarily Halts Production Amid Fabrication Scandal, Plans Compensation for 423 Suppliers

Following a series of safety scandals, Daihatsu Motor Co., Ltd., a wholly-owned subsidiary of Toyota Motor Corporation specializing in the production of mini-vehicles, announced on the 25th that it would compensate 423 domestic suppliers with whom it has direct business relationships.

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