While optimistic economists argue that America can grow its way out of a debt crisis, pessimists believe the real outcome will be somewhat less popular. Business leaders, policymakers, and investors are growing increasingly concerned by the United States’s borrowing burden, currently sitting at $38.15 trillion. The worry isn’t necessarily the size of this debt, but […]
Companies have pledged to invest 9.2 billion euro ($10.7 billion) in France, the finance ministry said on Monday, as the government seeks to show the euro zone’s second-biggest economy remains a top business destination despite political turmoil. French firms in sectors from energy to health and agri-food made the commitments ahead of a government-organised “Choose […]
U.S.-based cloud services provider GMI Cloud said on Monday it will build a $500 million artificial intelligence data centre in Taiwan with the support of U.S. chipmaker. The data centre will come online by March 2026 and will run on Nvidia’s new Blackwell GB300 chips. The facility will house about 7,000 GPUs across 96 high-density […]
The global oil market faces an even bigger surplus next year of as much as 4.09 million barrels per day as Opec+ producers and rivals lift output and demand growth slows, the International Energy Agency said on Thursday. “Global oil market balances are looking increasingly lopsided, as world oil supply is forging ahead while oil […]
British utility SSE unveiled a 33 billion pound five-year investment plan on Wednesday, including a 2 billion pound ($2.68 billion) equity fundraising, as it seeks to upgrade the UK’s regulated electricity networks and bolster its renewables business. SSE’s shares rose more than 11% to a record high. Analysts were positive about the plan which provided […]
Dutch bank ABN Amro on Wednesday said that it had acquired domestic commercial lender NIBC Bank from private equity firm Blackstone, strengthening its position in its home market. The acquisition, for an estimated price of 960 million euros ($1.1 billion), is set to close in the second half of next year. It is expected to […]
Nebius Group has signed a deal worth about $3 billion with Meta to provide the Facebook owner with AI infrastructure over a five-year period, the company said on Tuesday, after it reported a more than fourfold rise in third-quarter revenue. The company’s shares seesawed in volatile premarket trading, after it posted a surge in capital […]
Hanwha Ocean, which was caught in the crossfire during the U.S.-China trade conflict, has gained temporary breathing room. As China reached partial agreements with the United States in economic and trade negotiations, it decided to suspend sanctions imposed on Hanwha Ocean’s U.S. subsidiaries for one year. Accordingly, Hanwha Ocean will minimize repercussions in raw materials […]
Billionaire Bill Gates’ foundation will invest at least $1.4 billion over the next four years to help farmers in sub-Saharan Africa and Asia access technologies that enhance resilience to extreme weather. The funding will support innovations aimed at boosting crop yields, improving livestock production, providing digital advisory services, and restoring degraded land. “Smallholder farmers are […]
Africa’s leading diamond powerhouses, Botswana and Angola, have opened discussions to acquire control of the world’s largest and most recognizable mining brand, De Beers, in what could redefine the global diamond industry’s balance of power. According to Reuters, Botswana’s Mines Minister Bogolo Joy Kenewendo and her Angolan counterpart Diamantino Pedro Azevedo met to discuss collaboration […]