‘The market is right’: Former Fed policymaker Mester sees fewer rate cuts next year after Trump’s victory
The U.S. Federal Reserve could carry out fewer rate cuts than previously expected next year should President-elect Donald Trump’s proposed global tariffs take hold, former Fed policymaker Loretta Mester said Tuesday.
Home Depot’s sales are improving, but it says consumers are still cautious about spending
Home Depot is mired in a sales slump as homeowners put off major projects.
Germany sets early election date for February after collapse of the ruling coalition
The date for the German federal election has been set for Feb. 23, earlier than Chancellor Olaf Scholz had originally proposed.
China’s Alibaba releases AI search tool for small businesses in Europe and the Americas
Chinese e-commerce giant Alibaba unveiled an artificial intelligence-powered search engine for small businesses in Europe and the Americas to source supplies.
Europe markets close 2% lower, logging worst daily fall since August as mining stocks slide
European markets closed lower Tuesday as investors assessed what U.S. President-elect Donald Trump’s return to the White House could mean for the region’s economy.
Oil giant Shell wins appeal against landmark Dutch climate ruling to slash emissions
A Dutch court on Tuesday dismissed a landmark climate ruling against Shell, after the oil giant was ordered to sharply reduce its emissions back in 2021.
China’s biggest shopping event of the year exceeds low expectations
The Singles’ Day shopping festival saw consumers spend more than expected in what’s otherwise been a tepid retail environment, consulting executives said.
SoftBank posts blowout quarterly gains at Vision Fund tech arm
The company lodged a steep quarterly increase on Vision Fund gains after swinging back to black in the three months to June.
CNBC Daily Open: Best to stay prudent even in the postelection afterglow
It remains to be seen if the postelection market rally will fizzle out once the initial euphoria wears off, or portends a longer-term phenomenon.
Elon Musk is no Kissinger, but may help improve U.S.-China relations, experts say
Musk’s relationship with Trump has fueled expectations that he could soften U.S. policy toward Beijing, but experts caution against putting too much stock into the Tesla CEO.
