The Bank of Canada trimmed its key policy rate by 25 basis points on Wednesday, lowering it to 2.75%, as concerns mount over inflationary pressures and weaker economic growth driven by renewed trade uncertainties and tariff threats.
Canada will introduce $29.8 billion in retaliatory tariffs in response to the U.S. decision to impose 25% duties on steel and aluminium imports. The move follows similar action by the EU, escalating trade tensions with Washington.
The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.
The European Commission has raised €9 billion of EU-Bonds in its 3rd syndicated transaction for 2025.
Inditex, parent company of Zara, reported a 4% sales growth in Q1 2025, down from 11% last year, amid concerns about weakening consumer demand. Despite this, the company plans a 9% dividend increase and €1.8 billion investment in growth, with expansion into new markets.
Spotify paid a record $10B in royalties in 2024, with 1,500+ artists earning over $1M. Despite growth, it faced legal challenges over songwriter payments, though a U.S. lawsuit was dismissed. Streaming's impact on artist revenue remains a key industry debate.
Poland's deputy prime minister vowed on Tuesday to stick with plans to introduce a new tax on big tech, hitting back at a threat of retaliation from the incoming United States ambassador amid a deepening war of words between Warsaw and Washington.
Concern over impending 25% tariffs on vehicles imported from Mexico and Canada has spurred U.S. car buyers to expedite their purchases, with many racing to dealer lots to lock in current prices before any increases take effect.
China's new energy vehicle (NEV) market saw impressive growth in February, with sales hitting 686,000 units. This increase highlights the country's strong push toward electrification, driven by government incentives, improved infrastructure, and growing consumer demand.
BioNTech forecasts a revenue decline for 2025, expecting between 1.7 billion and 2.2 billion euros, down from 2.75 billion euros last year. This drop is due to Pfizer write-downs and stable vaccination rates. BioNTech also plans significant job cuts and new hires.
EU lawmakers raised concerns about the digital euro project after a major failure in the ECB’s payment system, Target 2, which caused delays in transactions. Critics question the ECB's ability to manage the project, with some demanding improved systems before moving forward.
US stock futures dropped amid growing concerns over the impact of the Trump administration’s tariffs. Major stocks like Nvidia, Meta, Amazon, and Tesla saw losses. China’s retaliatory tariffs and rising recession fears added to market uncertainty. Bitcoin also fell 4%.
Traton forecasts slow growth for 2025 due to weak European demand and a decline in electric vehicle sales. The company expects a sales change of -5% to +5% and focuses on improving efficiency amid global economic uncertainty and geopolitical challenges.
Deliveroo exits Hong Kong, selling assets to Foodpanda due to consistent losses and market challenges. Despite efforts to expand, Hong Kong operations made up only 5% of global transactions. The company will close remaining assets and wind up its business by April 7.
Malaysia’s palm oil stocks fell to 1.51 million tons in February, the lowest in nearly two years, due to lower production and exports. Crude palm oil output dropped 4.16%, while exports fell 16.27%. The decline may impact global prices, with supply and demand shaping future trends.
Canada has blocked imports from the largest U.S. pork processing facility operated by Smithfield Foods, the company said on Friday.
The UK has lifted asset freezes on 24 Syrian entities, underscoring its commitment to help Syrians rebuild their country and economy
TotalEnergies has started building Iraq’s largest solar power plant in Basra as part of a $27 billion energy deal. The 1,000MW project will boost renewable energy and reduce gas flaring.
The State Oil Fund of the Azerbaijan Republic (SOFAZ) will continue buying gold in 2025, aiming to increase its assets to 170 tonnes by April-May.
The National Bank of Kazakhstan has raised the key interest rate by 1.25 percentage points today, from 15.25% to 16.5%, according to the financial regulator.
