Business Daily
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A daily update on the latest business and economic news.
Business Daily
1d ago
Meta announced a 27 percent jump in Q1 revenues but still saw shares tank after hours, amid fears over the social media giant's increased capital expenditure on AI infrastructure. Also in this edition: British mining giant BHP makes a $39 billion bid for its rival Anglo American, and Boeing's losses deepen ..read more
Business Daily
1d ago
Under intense pressure since part of the fuselage on its 737 MAX plane blew out mid-flight back in January, Boeing has reported its first-quarter results, with revenue falling to $16.5 billion and a cash burn of nearly $4 billion. Yet the figures were still better than feared. The planemaker's board has yet to name a successor to CEO Dave Calhoun, who announced his resignation last month. Plus, the EU launches a probe into China's medical device market, drawing a sharp response from Beijing.  ..read more
Business Daily
1d ago
A war of words is escalating between the Australian government and the owner of X, with PM Anthony Albanese calling Elon Musk an "arrogant billionaire who thinks he's above the law" in response to Musk's social media comments accusing the Australian government of censorship. The spat stems from X's reluctance to comply with an order from the country's internet regulator to take down footage of last week's alleged terrorist attack in Sydney at a church. We take a closer look ..read more
Business Daily
4d ago
As India's opposition leader Rahul Gandhi claims on the campaign trail that Prime Minister Narendra Modi has made the country into a "centre of unemployment", we look at the situation that young Indians face on the job market. Also in this edition, the US will see its first high-speed rail line in 2028, when commuters will be able to travel from Los Angeles to Las Vegas in just over two hours ..read more
Business Daily
4d ago
A report by Net Zero Tracker released this Earth Day shows that most of the world's biggest private companies have failed to set net zero targets. Only 40 of 100 private firms studied have pledged to achieve zero carbon emissions, compared to 70 out of 100 publicly-listed firms. Net Zero Tracker blames a lack of market and reputational pressures, as well as an absence of regulation. Plus, electric car giant Tesla slashes prices across several markets as its sales decline ..read more
Business Daily
6d ago
As the clock ticks down towards the next "bitcoin halving" – an event coded into the cryptocurrency's algorithm to slow down the introduction of new coins into circulation – we take a deep dive into the history of bitcoin and the blockchain technology powering it. Plus, Venezuela's President Nicolas Maduro remains defiant after the US decision to reimpose sanctions on his country's oil sector.  ..read more
Business Daily
1w ago
On a visit to steelworkers in the key swing state of Pennsylvania, US President Joe Biden accused China of dumping cheap steel on global markets and called for sharply higher tariffs on Chinese metal products. Plus, former and current Boeing engineers, including whistleblower Sam Salehpour, testify in the US Senate about the planemaker's safety culture.  ..read more
Business Daily
1w ago
As the US government and its allies mull new sanctions on Iran after Tehran's missile and drone attack on Israel, we look at whether existing sanctions have been effective at stemming the flow of Iranian oil to global markets. Also in this edition, we see how global oil markets are reacting to the crisis in the Middle East. Plus, the Canadian government unveils a new budget that promises to increase taxes on the rich, while boosting spending on education and housing ..read more
Business Daily
1w ago
China's National Bureau of Statistics said on Monday that the country's economy grew to the tune of 5.3 percent in the first three months of the year, ahead of economists' expectations. Manufacturing and infrastructure are fuelling that growth, while housing and domestic consumption are still a source of concern. Meanwhile, German Chancellor Olaf Scholz is on a three-day visit to China, Berlin's top trading partner ..read more
Business Daily
2w ago
The US consumer price index for March stood 3.5 percent higher than a year earlier, as inflation proved stickier than expected. A rate cut from the Federal Reserve, anticipated for June, is now in doubt. Also in this edition: the UN's climate chief calls for a new finance deal for developing countries, saying nations have two years to save the planet.  ..read more