World Daily News

ArcelorMittal's Reims and Denain Sites Face Closure Amid Strikes

ArcelorMittal's service centers in Reims and Denain have gone on strike following the company's announcement of potential site closures due to declining activity in the industrial and automotive sectors.

Business

US Government Debt Emerges as Top Financial Stability Risk, Fed Reports

2024-11-24T06:51:45.141Z

The Federal Reserve's semi-annual report highlights US government debt as the primary risk to financial stability, surpassing inflation concerns amid a challenging economic environment.

Business

U.S. National Debt Hits Record High: Implications and Future Risks

2024-11-23T21:31:35.648Z

The U.S. national debt has reached an unprecedented $36.03 trillion, with projections indicating a rise to $57 trillion by 2034. This escalating debt poses significant risks to the economy and global financial stability, as the cost of servicing the debt surpasses defense spending for the first time. Experts warn that without immediate action, the U.S. may face a fiscal crisis, impacting both domestic priorities and international confidence.

Business

Strong Dollar Challenges Emerging Market Debt Amid Economic Policy Changes

2024-11-24T10:42:44.120Z

The rising strength of the dollar, following Donald Trump's election victory, poses significant challenges for emerging market debt, leading to substantial outflows and increased borrowing costs.

Business

Germany's Economy Faces Challenges Amid Trump Administration Threats

2024-11-24T12:51:56.959Z

Germany's economy is projected to grow by only 0.6% in 2025, facing significant risks from potential trade barriers under the incoming Trump administration and compounded by political instability.

Business

Malaysia's Economic Growth Surpasses China: A Sustainable Model

2024-11-24T08:51:58.499Z

Malaysia has achieved a 5.3% economic growth rate, surpassing China's 4.6%, showcasing effective policies and consumer confidence.

Business

US Charges Adani Group with Bribery, Resulting in $27 Billion Loss

2024-11-23T16:11:49.452Z

The US has charged India's Adani Group with bribery involving $265 million to secure solar energy contracts, leading to a $27 billion loss in market value. The group denies the allegations, calling them baseless, while facing significant financial repercussions.

2024/10/4

Business

Governments Across the Globe Implement Reforms to Tackle Financial Shortfalls

2024-10-04T22:19:07.108Z

Governments in France, Argentina, South Korea, and beyond are implementing reforms to address financial shortfalls in public services and health sectors, focusing on contributions, taxation, and compensation.

Business

Germany Opposes EU's Tariff Increase on Chinese Electric Cars Amid Trade War Fears

2024-10-04T18:09:31.218Z

Germany's opposition to the EU's decision to impose significant tariffs on Chinese electric vehicles raises fears of a trade conflict, with major automakers urging for negotiations to avoid protectionist measures.

Business

Middle East Conflict Escalates: Biden's Statements on Iranian Oil Facilities Impact Global Oil Prices

2024-10-04T15:48:45.578Z

The conflict in the Middle East is escalating, with President Biden's statements about potential attacks on Iranian oil facilities affecting oil prices and raising concerns about a broader regional conflict.

Business

EU Approves Tariffs on Chinese Electric Cars Amidst Division

2024-10-04T15:48:29.203Z

The EU has approved tariffs up to 36.3% on Chinese electric cars amid divisions among member states, with Germany opposing the measure while advocating for a negotiated solution with China.

Business

Turkey's Oruc Reis Ship Begins Oil Exploration Mission in Somalia

2024-10-04T15:18:58.245Z

The Turkish ship Oruc Reis is set to explore oil and gas resources off the coast of Somalia, following a memorandum of understanding signed between the two nations. The mission, expected to last seven months, will involve seismic research in three exploration fields.

Business

Egypt's Bold Move to Mix Corn with Wheat in Bread Subsidy Program

2024-10-04T13:50:33.997Z

Egypt is planning to mix corn flour with wheat to reduce bread subsidy costs, facing industry opposition but aiming for significant savings amid rising economic pressures.

Business

UK Auto Industry Demands Increased Government Support for Electric Vehicle Growth

2024-10-04T13:39:17.895Z

The UK auto industry is urging the government to provide more support and incentives for electric vehicle development as it struggles to meet sales targets amid increasing pressure from global trade dynamics.

Business

Michel Barnier Targets 300 Large Companies for Tax Increases in France

2024-10-04T13:29:09.422Z

Prime Minister Michel Barnier has announced a plan to tax 300 large companies in France with a turnover over 1 billion euros, aiming to address the nation's significant debt and budget deficit.

Business

Europe Imposes 45% Tariff on Chinese Electric Cars, Heightening Trade Tensions

2024-10-04T12:28:52.688Z

The European Commission has increased tariffs on Chinese electric cars to 45%, raising concerns of a trade war and prompting criticism from Germany and Volkswagen.

Business

Dollar Strengthens as Investors Seek Safe Havens Amid Middle East Conflict

2024-10-04T11:29:34.007Z

The U.S. dollar has rebounded to a six-week high as investors turn to safe havens amid escalating Middle East conflict, with significant implications for global currencies and economic policies.

Business

Middle East Tensions Drive Oil Prices Higher Amid Supply Concerns

2024-10-04T11:28:47.175Z

Oil prices are surging due to fears of supply disruptions from escalating Middle East tensions, particularly regarding potential Israeli strikes on Iranian oil infrastructure.

Business

IEA Highlights Risks to Global Gas Supplies Amid Rising Demand and Geopolitical Tensions

2024-10-04T11:08:43.431Z

The IEA warns that rising global gas consumption and geopolitical tensions could complicate supplies as winter approaches, particularly highlighting risks to European energy security and the need for increased LNG imports.

Business

Tax Burden Rises in Italy; France Targets Wealthiest for New Contributions

2024-10-04T10:58:51.511Z

The Italian tax burden has risen to 41.3% in Q2 2024, while France plans to tax the wealthiest households as part of its 2025 budget, affecting only 0.3% of the population.

Business

Orban Warns EU of Economic Cold War with China Amid Tariff Discussions

2024-10-04T10:48:46.701Z

Hungarian Prime Minister Viktor Orban warns that the EU is heading towards an economic cold war with China as leaders vote on tariffs for Chinese electric cars, emphasizing Hungary's need to maintain trade relations with both sides.

Business

EU Approves Tariffs on Chinese Electric Cars Amid Trade Tensions

2024-10-04T09:18:28.933Z

EU countries have approved tariffs of up to 36.3% on Chinese electric cars, citing unfair subsidies from Beijing, while Germany's government faces internal conflict over the decision.