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Russian inflation climbs as Ukraine offensive weighs on economy
Russian inflation climbs as Ukraine offensive weighs on economy
by  AFP

Inflation in Russia accelerated in 2024, official statistics published Wednesday showed, as the costs of Moscow's full-scale offensive on Ukraine weigh on the domestic economy. The cost of butter rose by 36 percent over 2024, Rosstat said Wednesday.

US bank profits rise as Wall Street hopes for merger boom
US bank profits rise as Wall Street hopes for merger boom
by  AFP

Large US banks reported soaring profits Wednesday propelled by strength in trading and financial advisory services as Wall Street eyes a potential merger boom under the incoming Trump administration. Gains in banking shares helped lift Wall Street stocks Wednesday.

US tightens controls on advanced chips to curb flow to China
US tightens controls on advanced chips to curb flow to China
by  AFP

The United States unveiled further export controls Wednesday on advanced computing semiconductors, boosting due diligence requirements for businesses as it seeks to prevent diversion of tech to China despite existing restrictions.

TikTok plans total US shutdown as ban deadline looms: report
TikTok plans total US shutdown as ban deadline looms: report
by  AFP

Social media giant TikTok plans to completely shut down its operations in the United States this Sunday if a ban ordered by legislators goes through as planned, a report said. The apparent shutdown comes as TikTok faces a January 19 legislative deadline to sever ties with its Chinese parent company ByteDance or cease US operations.

German economy shrinks again amid political crisis
German economy shrinks again amid political crisis
by  AFP

Germany's economy shrank for a second straight year in 2024, official figures showed Wednesday, with little hope of a speedy recovery as Europe's traditional powerhouse is also mired in political crisis. Fears are growing that the economy will struggle to get back on its feet this year, due in part to the political crisis at home.