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Cyclone Zelia makes landfall on Australia's west coast, hits iron ore hub

Eye of the category five storm, the highest rating on the scale, crossed the coast east of Port Hedland just after 12 p.m. (0400 GMT), sparing the town's population centre

HSBC plans to unveil $1.5 billion of annual cost savings on February 19

HSBC said that it plans to wind down its M&A and some equities businesses in Europe and the Americas, accelerating a shift towards Asia in its biggest retrenchment from investment banking

Taiwan pledges chip talks with US, more investment in bid to appease Trump

Trump has threatened specifically to put tariffs on imported semiconductors, which could threaten Taiwan's economy given the island's major role in producing chips

Baidu to make latest Ernie AI model open-source as competition heats up

Keen to increase market share, Baidu also announced that it would make its AI chatbot Ernie Bot free starting April 1, about a year and a half after introducing premium versions

Federal judge orders US govt to restore funds for foreign aid programmes

The order blocks the Trump administration from canceling foreign aid contracts and awards that were in place before Trump took office on January 20

US to increase military sales to India, eventually provide F-35 jets: Trump

Trump did not provide a timeline, but foreign military sales, especially for cutting-edge technology like the stealthy F-35 jet, typically take years to work through

US consumer watchdog CFPB broadens layoffs beyond probationary staff

Some staff discovered they had lost access to the agency's IT systems before receiving their termination letters, two of the sources said

Thousands fired in US govt as Donald Trump, Musk purge federal employees

Trump and Tesla CEO Musk's overhaul of the federal government appeared to be widening as Musk aides arrived for the first time at the federal tax-collecting agency

Donald Trump's foreign aid freeze stops anti-fentanyl work in Mexico

In Mexico, INL also donates drug-detecting canines that helped Mexican authorities seize millions of fentanyl pills in 2023 alone, according to a March 2024 INL report

Trump says US, Russian officials to meet in Munich today, Ukraine invited

Not sure exactly who's going to be there from any country, but high-level people from Russia, from Ukraine and from the United States, Trump told reporters

Asian stocks rise with Wall Street as dollar eases on US tariff plans

Trump's plans to impose reciprocal tariffs on every country taxing US imports have stoked concerns of a global trade war

Kremlin confirms Ukraine's role in peace talks, separates US-Russia strand

The two leaders spoke on Wednesday and announced their intention to meet face-to-face, shortly after Trump's defense secretary bluntly told allies that Washington did not support NATO

Kyiv, EU alarmed by prospect of 'dirty deal' after Trump-Putin call

The Kremlin said plans were under way for Putin and Trump to meet, possibly in Saudi Arabia. Ukraine would "of course" participate in peace talks in some way

Nestle beats sales forecasts but expects profit margin to shrink in 2025

Under new CEO Laurent Freixe, the company is trying to grow sales volumes, invest in innovation and restore investor confidence after years of soaring prices alienated shoppers

US producer inflation trends higher; labour market remains stable

December rise in the PPI revised up to 0.5% from 0.2%

Fed seen on hold until September, with rising bets on earlier rate cut

Central bankers also have their eye on any signs of weakness in the labor market that could trigger an interest rate cut

Meta to allow rival ads on Marketplace after EU antitrust penalty

Calling it the Facebook Marketplace Partner Progam, Meta said the scheme is a response to the EU competition watchdog even as it challenged the fine in court

Europe can't turn Uncle Sam into 'Uncle Sucker,' says US defence secretary

Hegseth on Thursday defended his remarks as acknowledgement of battlefield realities and left the door open for US moves during negotiations that could be seen as concessions

Robert Kennedy to take top US health job after Senate confirmation

The confirmation paves the way for him to be sworn in to the job overseeing multiple high-profile agencies, including the FDA and Centers for Disease Control and Prevention

Govt hopes for tariff concessions, biz deals as PM Modi meets Prez Trump

Trump, not yet one month into his presidency, has wielded the threat of tariffs against friend and foe alike to try to extract new trade deals, investment or law enforcement help