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| 17 March, 2025, 07:25 AM IST | Today's ePaper
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    US retail sales see biggest drop in nearly two years on harsh weather

    US retail sales experienced a significant drop of 0.9% between December and January, reaching $723.9 billion. This decline, the largest in almost two years, was attributed to cold weather and California wildfires. Key areas like auto sales and parts dealers saw notable decreases. Despite this, year-on-year retail sales in January were 4.2% higher.

    Donald Trump blames Joe Biden for rise in inflation. Here's what experts have to say

    January CPI data is an estimate of the price level for the whole month, including the 12 days President Donald Trump was in office.

    US consumer inflation unexpectedly accelerated to 3.0% in January

    US consumer inflation edged up to 3.0% in January from the previous year, surpassing economists' predictions and putting additional pressure on the Federal Reserve. Indicators suggest a possible pause in rate cuts, while core inflation excluding food and energy also saw a slight increase, intensifying the challenge for the Fed.

    The headline Nikkei index at the Stock Exchange ended 0.01%, or 1.51 points, higher at 10,311.29, while the Topix index of all first section shares rose 0.16%, or 1.42 points, to reach 903.84.

    Sales of software and related services showed gains of at least 20 percent meanwhile, owing in large part to the acquisition of the US firm Sybase, and SAP confirmed its outlook for all of 2010.

    China's Finance Minister Xie Xuren urged major reserve currency nations Saturday to follow 'responsible' economic policies and keep their foreign exchange rates relatively stable.

    • US insurer AIG has been forced to reduce its valuation for the Hong Kong initial public offering of its Asian unit AIA to win the commitment of Kuwait's sovereign wealth fund, a report said Monday.

      Japan's top Internet portal Yahoo! Japan may create a search alliance with Google, in a deal that would dominate the Japanese market and be a possible blow to Microsoft, a report said Tuesday.

      Spanish banking group Santander has offered the Royal Bank of Scotland 1.8 billion pounds to buy 318 branches of the British financial giant, Dow Jones Newswires reported Monday.

      Japan's cabinet on Tuesday approved an economic stimulus package worth 274 billion dollars including more than 80 billion dollars in direct spending, Dow Jones Newswires reported.

      FRANKFURT: Germany's economy expanded by 0.7 per cent in the third quarter from the previous three-month period, provisional figures released by the national statistics office showed on Friday, slightly less than expected but nonetheless a confirmation that its recession is over.

      Volkswagen, Europe's biggest carmaker, said Thursday that its nine months to September net profit plunged 82.5 percent from a year earlier to 655 million euros (965 million dollars).

      Britain's trade-in-goods deficit widened to 7.0 billion pounds (8.1 billion euros, 11.4 billion dollars) in April from a revised 6.5 billion pounds in March, official data showed on Wednesday.

      Dutch banking and insurance group ING on Wednesday announced a 793-million-euro net loss for the first quarter.

      HSBC lays off 100 private bankers

      HSBC said it had laid off 100 private bankers in Hong Kong as demand has shrunk.

      The Wall Street Journal, one of the last major US daily newspapers to avoid deep cuts to its news gathering operations amid a historic industry downturn, is trimming about two dozen newsroom jobs.

      European consumer and business confidence sank to a record low in January but was not as weak as expected.

      Retail sales in Britain eased 0.1 per cent in October from September and jumped by 1.9 percent last month compared with a year earlier, official data showed on Thursday.

      Japan's Yamato Life Insurance will file for bankruptcy protection, becoming the first Japanese insurer to fail amid the global credit crisis, the financial watchdog said on Friday.

      Singapore's manufacturing output rose 2.5 pc in June compared with the same month last year.

      News Corp's Rupert Murdoch has chosen a predictable alias for completing the $5.2 billion buyout of Dow Jones & Co.

      As per the terms of the agreement between Dow Jones and Rupert Murdoch’s news Corp, a five member panel has been set up, which will have the powers to hire and fire top editors.

      Dow Jones is considering a possible deal under which it would pay legal fees of shareholder Christopher Bancroft in a bid to get further support for its deal with News Corp, The Wall Street Journal reported on its website.

      The fate of Dow Jones now rests with the Bancroft family, who must decide whether to sell the publisher of The Wall Street Journal to News Corp.

      Despite the $5 billion initial deal, Rupert Murdoch still has to win over majority shareholders.

      The deal is for the original $5 billion (euro3.63 billion) price that Murdoch had offered and will be put to the full Dow Jones board Tuesday for its approval.

      Rupert Murdoch’s News Corp has sold its entire 7.5% stake in rival Australian company Fairfax Media for around A$380 million (US$312 million), both companies said Monday.

      Dow Jones confirmed the bid and said the Bancroft family, who owns controlling votes, is evaluating the bid.

      Oil prices rose above $64 a barrel in Asian trading today after a surge in the previous session, reacting to warnings that OPEC production was at its lowest point in two years.

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