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Second US port strike averted as union, employers reach tentative deal

United States Maritime Alliance (USMX) employer group and the International Longshoremen's Association (ILA), in a joint statement, called the agreement a win-win

Damage, economic loss from California wildfire estimates top $50 bn

Raging wildfires in Los Angeles killed at least two people, destroyed hundreds of buildings and stretched firefighting resources

Plan for Mexico truck factory ongoing despite US tariff threat: Volvo CEO

The maker of Volvo and Mack semi-trucks has targeted growth in North America, which accounts for about 30 per cent of company revenue

Asian bond selloff eases, stocks drop amid focus on UK gilts, US policy

Selling in stocks continued though, with most Asian share indexes ticking down in early trading

Las Vegas Cybertruck suspect used ChatGPT to plan blast, say police

The Las Vegas Metropolitan Police Department said on Tuesday the Cybertruck blast was the first incident on U.S. soil where ChatGPT had been used to build an explosive device

US weekly jobless claims fall to 11-month low on stable labour market

Signs of a steadily cooling labor market could allow the Federal Reserve to keep interest rates unchanged in January against the backdrop of still high inflation

Greenland may become independent, but not a US state, says Denmark

Greenland's leader held talks on Wednesday with the Danish king in Copenhagen, a day after Trump's remarks thrust the fate of the Danish-ruled island to the top of world headlines

Donald Trump mulls economic emergency declaration to allow for new tariffs

"Nothing is off the table," a source familiar with the matter told CNN, acknowledging that a discussion had taken place over declaring a national emergency

US stocks dip as investors assess data, Trump's economic emergency plan

A majority of the 11 S&P 500 sectors were in the red, led by a 1 per cent decline in utilities, pressured by Treasury yields which stood at multi-month highs

UK's long-term borrowing costs jump to highest level since 1998. Here's why

The yield on 30-year British gilts rose sharply on Tuesday and again on Wednesday, outpacing increases for other governments' bonds and hitting its highest since August 1998 at 5.383 per cent

Prez-elect Trump asks SC to halt sentencing in New York hush money case

The Supreme Court ordered prosecutors to respond to the request by Thursday morning, signaling that the justices may act quickly on the matter

US wholesale inventories fall 0.2% amid sharp decline in mfg goods' stocks

Motor vehicle inventories declined 2.2 per cent while those of computer equipment fell 1.3 per cent. There were also decreases in stocks of machinery

More cuts likely though timing depends on inflation front: Fed's Waller

Waller said that while it was true inflation "appears to have stalled" above the Fed's 2% target in the waning months of 2024

Shell trims LNG production outlook for Q4, warns of weaker oil, gas trading

Shell also said it would take $1.5 billion to $3 billion of non-cash, post-tax impairments, including up to $1.2 billion in its renewables division, linked to European and North American assets

TikTok's fate divides Trump and fellow Republicans as SC action looms

"This is the most significant free speech case in at least a generation," said Timothy Edgar, a former U.S. national security and intelligence official

Fed minutes could hold clues to thinking on further interest rate cuts

The minutes, to be released at 2 p.m. EST (1900 GMT) on Wednesday, may help clarify how policymakers will approach further rate reductions

Oil prices surge as Russia, Opec supply drop, US crude stocks decline

Brent crude was up 69 cents, or 0.90 per cent, at $77.74 a barrel at 0954 GMT. US West Texas Intermediate crude climbed 87 cents, or 1.17 per cent, to $75.12

Ukraine stages drone attack on Russia's Saratov region, causing big fire

The region hosts a major air base for strategic bomber planes that form part of Russia's nuclear forces

Centre slashes Nov gold imports by $5 bn in record commodity revision

The spike in gold imports widened the country's merchandise trade deficit to a record $37.84 billion in November, significantly exceeding economists' forecast of $23.9 billion

ONGC joins hands with BP to boost oil and gas production in largest field

The field reached a peak production level of 471,000 barrels per day of oil in March 1985, and its output had declined to about 134,000 bpd in April 2024, according to the tender document floated