Sydney, AustraliaMichael Dunning | The Image Bank | Getty ImagesAustralia’s economy expanded 1.3% year on year in the fourth quarter, accelerating for the first time since September 2023.The GDP growth beat expectations of a 1.2% rise from economists polled by Reuters, and also surpassed the 1.1% climb expected by the Reserve Bank of Australia.The country’s statistics bureau said that growth was “modest” but broad-based, adding that “both public and private expenditure contributed to the growth, supported by an increase in exports of goods and services.”On a quarter-on-quarter basis, GDP rose 0.6%, beating expectations of a 0.5% rise from a Reuters…
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The major averages slid for a second consecutive day as President Trump’s tariffs on Canada and Mexico went into effect. Here’s what CNBC is watching Wednesday. Source link
The ‘Fast Money’ traders talk the impact of tariffs on the markets as a growth scare takes hold. Source link
OpenAI CEO Sam Altman speaks at a panel discussion on potentials, perspectives and challenges in the age of Artificial Intelligence (AI) at the Technical University (TU) in Berlin on February 7, 2025. John Macdougall | Afp | Getty ImagesA federal judge in California denied Elon Musk’s effort to halt OpenAI’s transformation into a for-profit entity, according to a filing on Tuesday.The court said the plaintiffs “failed to meet their burden of proof for the extraordinary relief requested.” However, other aspects of Musk’s lawsuit against the artificial intelligence startup that he co-founded with Sam Altman and others can proceed, the filing said.OpenAI,…
China’s top leaders sought to project confidence in the country’s economy on Wednesday despite sluggish growth, an escalating trade war with the United States and growing geopolitical uncertainty caused by the Trump administration.The government set a bold target for the year, with Premier Li Qiang, China’s highest-ranking official after Xi Jinping, saying that China would expand its economy by “around 5 percent” in a report at the opening of the annual session of the country’s rubber-stamp legislature.The meeting in Beijing, called the National People’s Congress, is a tightly scripted political pageant, showcasing how Mr. Xi plans to lead China through…
Pictured here is a residential complex under construction in Hangzhou, China, on Dec. 16, 2024.Nurphoto | Nurphoto | Getty ImagesBEIJING — China on Wednesday announced plans to raise its fiscal deficit to “around 4%” of gross domestic product, a rare increase that marks a meaningful shift in policy.The target was confirmed in an official government report for review in parliament on Wednesday.The new deficit plan, which is up from 3% last year, comes amid an escalating trade war with U.S. President Donald Trump’s administration. An increase to 4% of GDP had been widely expected. It marks the highest fiscal deficit…
CrowdStrike reported a strong fourth-quarter results Tuesday night, delivering beats on revenue, adjusted earnings and net new annual recurring revenue. However, the stock is under pressure in extended trading after the fast-growing cybersecurity company’s fiscal 2026 full-year outlook was slightly below the consensus forecast. After booking profits in CrowdStrike a couple of times above $400 per share earlier this year, we can look to buy those shares back at these lower prices. Revenue in the fiscal 2025 fourth quarter increased 25% year over year to $1.06 billion, beating the consensus estimate of $1.03 billion, according to LSEG. Adjusted earnings per…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailJan Kniffen, CEO of J. Rogers Kniffen Worldwide Enterprises, joins ‘Fast Money’ to talk what is dragging on the retail sector, Target quarterly results, and more. Source link
An aerial view of a new city district in southern China’s Nanning city on Feb. 28, 2025.Nurphoto | Nurphoto | Getty ImagesChina on Wednesday set its GDP growth target for 2025 at “around 5%” as it starts its annual parliamentary meeting amid escalating trade tensions with the U.S.Beijing raised its budget deficit target to “around 4%” of GDP from 3% last year.The 4% deficit would mark the highest on record going back to 2010, according to data accessed via Wind Information. The prior high was 3.6% in 2020, the data showed.The government report laid out a plan to issue 1.3…
President Donald Trump delivers his State of the Union address to a joint session of the U.S. Congress on Capitol Hill in Washington, U.S. January 30, 2018.Leah Millis | ReutersPresident Donald Trump is set to address a joint session of Congress on Tuesday night amid stock market turmoil driven by his stiff new tariffs on Canada, Mexico and China, and the controversy over Elon Musk’s DOGE campaign to slash federal spending and workforce levels.The speech, scheduled to begin at 9:10 p.m. ET, comes on the heels of Trump’s stunning verbal clash with Ukrainian President Volodymyr Zelenskyy in the Oval Office…
