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The ECB began raising borrowing costs sharply in July 2022 as Russia's war in Ukraine pushed up costs

ECB Rate Hikes Result In Record Loss In 2024

The European Central bank on Thursday reported a record loss in 2024 after it had aggressively hiked eurozone interest rates in response to soaring inflation.
Satoshi

Satoshi Stacker: The Entrepreneur Building A Digital Utopia

With a vision that transcends traditional business, Stacker is aiming to create a self-sustaining, decentralized digital society where governance, finance, and innovation operate independently of traditional institutions.
Digital giants like Meta have recently muscled in to the world of subsea cables

Meta Plans Undersea Cable To Link Five Continents

Facebook and Instagram parent company Meta has said it will lay an undersea cable stretching across five continents to carry data, including for developing artificial intelligence.
Argentina's President Javier Milei faced criticism after promoting a cryptocurrency whose value soared and then fell sharply

Cryptocurrency Promoted By Argentina's Milei Crashes

Argentina's President Javier Milei admitted making a mistake on Saturday after promoting a cryptocurrency whose value soared and then crashed, with his office announcing an "urgent investigation".
Tesla, whose electric Cybertruck is pictured, is a potential manufacturer of 'armored electric vehicles' for the US government

US State Dept Walks Back Purported $400 Mn Tesla Contract

The US State Department backtracked Thursday on a document saying it would award $400 million for electric armored cars by Tesla, whose chief Elon Musk has been aggressively slashing government spending on behalf of President Donald Trump.
Nestle CEO Laurent Freixe expects the food group to move 'in the right direction'

Nestle Sales Beat Forecast After Price Hikes

Swiss food giant Nestle reported better-than-expected annual sales on Thursday, boosting its shares after the maker of Nescafe coffee, KitKat chocolate and Purina dog food hiked prices to offset inflation.
Federal Reserve boss Jerome Powell said the bank was not in a hurry to cut interest rates

Stock Markets Gain Before US Inflation Data

Asian stock markets rose and there were fresh record highs for leading European indices Wednesday as attention turned to upcoming US inflation data.
BP has embarked on a plan to find $2 billion in cost savings and last month axed 4,700 staff jobs, or five percent of its workforce

BP Pledges Strategic 'Reset' As Profit Tumbles

Britain's BP on Tuesday said its annual net profit slumped 97 percent last year, as the struggling oil and gas giant pledged to "fundamentally reset" its strategy.

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