CNBC Daily Open: Hopes sink for March rate cuts
Well, at least the Fed made one thing abundantly clear today. That rate cuts aren’t coming that soon.
Elon Musk says Tesla will hold a shareholder vote to incorporate in Texas after Delaware pay snub
Musk’s X post comes after a judge in Delaware, where Tesla is currently incorporated, voided the $56 billion pay package granted to the billionaire in 2018.
Deutsche Bank smashes profit estimates and boosts shareholder returns
Deutsche Bank smashed fourth-quarter earnings expectations, reporting a net profit of 1.3 billion euros ($1.4 billion).
India expects fiscal deficit for 2025 to narrow to 5.1% even as it boosts infra spending
India’s finance ministry presented the country’s interim budget for 2024, ahead of the highly anticipated general elections.
Singapore tourist arrivals double in 2023 amid global travel recovery
The city state recorded 13.6 million international visitor arrivals in 2023, while tourism receipts are expected to soar to SG$24.5-26 billion
U.S. companies say it’s harder to make money in China now than before the pandemic
More U.S. companies are finding it harder to make a profit in China than before the pandemic, according to surveys by the American Chamber of Commerce in China.
Clothing brands failing to eradicate forced labor risk in supply chains, research finds
Many of the world’s major fashion brands are failing to combat forced labor in their supply chains, according to a new report.
Demand for shipments from China via rail through Russia has ‘skyrocketed’ since the Red Sea attacks
The China-Russia rail route to Europe is in high demand. Some shippers have ethical concerns, according to freight forwarders.
Factories in developing Asia may have seen the worst of manufacturing slump
South Korea’s S&P manufacturing purchasing managers’ index recorded a first expansionary reading since June 2022 at 51.2 in January.
Mastercard jumps into generative AI race with model it says can boost fraud detection by up to 300%
Payments giant Mastercard has built its own proprietary generative AI model to help its bank network detect and root out fraudulent transactions.
