Bank of England warns that higher rates ‘have yet to come through’ to an already weak economy
The Bank of England warned on Wednesday warned that although household finances are faring better than expected, higher borrowing costs have yet to feed through to the economy.
TikTok parent ByteDance offers share buyback valuing the Chinese giant at $268 billion
TikTok parent ByteDance plans to spend up to $5 billion buying back stock, a person familiar with the matter told CNBC.
International airline group expects a banner year for travel in 2024
Airlines expect record traveler numbers and revenues in 2024 but will continue to be constrained by the high cost of capital and limited capacity, IATA said.
Saudi Arabia offers 30-year tax relief plan to lure regional corporate HQs
The announcement is the latest move in Saudi Arabia’s aggressive campaign to attract international investment and headcount to the kingdom.
U.S. consumers will soon wake up to ‘out of control’ interest on their credit cards, economist says
Real incomes are not rising enough to cover the increase in debt burdens, according to Carl Weinberg.
Europe travel giant Tui rallies after it forecasts 25% jump in operating profit
Revenue rose 11% to 8.5 billion euros ($9.17 billion), while investors zeroed in on a forecast for EBIT to increase by at least 25% year-on-year in 2024.
10-year Treasury slides, hitting fresh September low
The 10-year U.S. Treasury yield slid on Wednesday as investors assessed the state of the economy after the latest labor market data.
CNBC Daily Open: Buzz words of the day — tech, AI, crypto
December isn’t shaping up to be as slow as it ordinarily is. Apple remains on top and Elon Musk is now raising fresh capital for his AI startup.
U.S. ‘losing a tremendous amount of credibility in the Arab world,’ ex-Egyptian minister says
President Joe Biden has stressed that the United States believes the conflict between Israel and Hamas must end with a vision of a “two-state solution.”
‘It’s game on’: The world’s largest iceberg is on the move. Scientists explain why it matters
Scientists say the juggernaut’s breakaway from Antarctica is a stark reminder of the potentially disastrous implications as global sea levels rise.
