Financial News, Advice & Market Insights
Elon Musk’s artificial intelligence company, xAI, has acquired the social media platform X (formerly known as Twitter) in an all-stock transaction valued at $45 billion, including $12 billion in debt.
Recent reports indicate a significant decline in U.S. consumer confidence, reaching its lowest point in over four years.
On Friday, March 28, 2025, U.S. stock markets experienced significant declines due to escalating trade tensions and persistent inflation concerns.
As the April 3 implementation date for the 25% tariffs on imported vehicles approaches, U.S. consumers are rushing to dealerships to purchase cars before anticipated price increases take effect.
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- China’s first-quarter GDP grows 5%, driven by industrial output
Exports and fiscal stimulus offset a still weak domestic economy
- Goldman traders wrongfooted as Iran war upended interest rate expectations
Wall Street bank’s rates desk was key driver behind unexpected drop in fixed-income revenue
- Iran used Chinese spy satellite to target US bases
Leaked documents show IRGC secretly acquired system and used it to guide strikes during war in March
- Largest US banks spend record $33bn on share buybacks
JPMorgan and Goldman among Wall Street lenders taking advantage of Trump’s looser rules
- Pentagon held talks with Ford and GM about supporting weapons production
Defence secretary Pete Hegseth has pushed to overhaul US military procurement
- Rate setters face ‘double danger’ from Iran war and tariffs, Fed official warns
Chicago Federal Reserve president Austan Goolsbee says public may ‘misinterpret’ price rises as persistent
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