Author: Jamie Carpenter

A consortium led by U.S. investment giant BlackRock has acquired two key Panama Canal ports from their Hong Kong-based owner, CK Hutchison Holdings, in a deal valued at nearly $23 billion (£17.8 billion). Strategic Sale Amid U.S. Political Pressure The sale comes after U.S. President Donald Trump expressed concerns over what he described as Chinese control of the vital shipping lane. The deal involves a 90% stake in Panama Ports Company, which operates the Balboa and Cristobal ports at either end of the canal under a contract running until 2047. Trump previously stated that the U.S. should “take back” control…

U.S. President Donald Trump stated that he warned the leaders of Japan and China against devaluing their currencies, arguing that such actions put U.S. manufacturers at a disadvantage. His remarks came as the U.S. implemented 25% tariffs on imports from Mexico and Canada on Tuesday, while also doubling tariffs on Chinese goods to 20%, escalating global trade tensions. Market Reaction and Yen Strength Trump’s comments triggered market volatility, leading to a nearly 2% drop in Japan’s Nikkei 225 index as the yen appreciated. The currency briefly climbed to 148.60 per dollar on Tuesday, up from around 150 on Monday. “I’ve…

European markets closed higher on Monday, driven by a surge in defense stocks following regional security talks that emphasized increased military spending. The Stoxx 600 index fluctuated early in the session but ended the day 1.1% higher, while the Stoxx Europe aerospace and defense index soared 8%, marking its strongest performance in five years. Defense Stocks Lead Market Gains The biggest movers included Germany’s Hensoldt, which surged 22.3%, Italy’s Leonardo, up 16%, and Dassault Aviation, which gained 15%. Other major defense firms such as Sweden’s Saab, France’s Thales, and Britain’s BAE Systems also saw significant gains. Rolls-Royce, which operates in…

Microsoft is officially shutting down Skype, the internet-based phone and video service that once dominated digital communication in the mid-2000s. Starting in May, Skype will “no longer be available,” the company confirmed on X (formerly Twitter). Users are being encouraged to transition to Microsoft Teams’ free tier using their existing Skype log-in information. The Rise and Fall of Skype Skype launched in Estonia in 2003 and quickly gained popularity as a way to make free calls worldwide. At a time when international calling was costly, Skype revolutionized communication by enabling voice and video calls over the internet. Its early success…

Initial filings for unemployment benefits reached their highest level of the year last week, signaling potential weakness in the U.S. labor market. According to a Labor Department report released Thursday, jobless claims for the week ending Feb. 22 totaled a seasonally adjusted 242,000 — an increase of 22,000 from the previous week and above the Dow Jones estimate of 225,000. Rising Jobless Claims Amid Economic Uncertainty The latest figures mark the highest level of claims since early October 2024, raising concerns about broader economic growth. The increase coincides with declines in consumer sentiment, reflecting growing unease about the economic outlook.…

Amazon has officially launched Alexa+, a revamped version of its popular voice assistant, bringing it into the era of artificial intelligence. The announcement, made during an event in New York City on Wednesday, showcases Alexa’s new capabilities, positioning it to compete with AI-powered virtual assistants like OpenAI’s ChatGPT and Google’s Gemini. What’s New in Alexa+? Alexa+ introduces advanced features that leverage a user’s personal context, such as the apps and services they use, to deliver more personalized and intuitive experiences. In a preview video, Amazon demonstrated Alexa+ performing tasks like tracking how many books a user has read this year,…

Following two consecutive years of economic contraction, Germany stands at a crossroads in 2025. Businesses are cautiously optimistic as a new coalition government, led by the conservative CDU/CSU party and the center-left Social Democrats, takes charge. The nation’s economic challenges are vast—high energy costs, sluggish consumer demand, competition from China, and the need for policy reforms. Yet, with incoming Chancellor Friedrich Merz prioritizing industrial growth and job creation, hopes for a turnaround are high. Will this new leadership be able to revive Europe’s largest economy? High Energy Costs: A Persistent Obstacle German industry has long grappled with soaring energy costs,…

European food delivery giant Just Eat Takeaway.com is set to be acquired by Dutch technology investor Prosus in an all-cash deal valued at approximately 4.1 billion euros ($4.3 billion). The offer values Just Eat’s shares at 20.3 euros each, representing a 63% premium over the firm’s closing price on Friday. Stock Market Reaction and Strategic Implications Following the announcement, Just Eat’s shares soared by as much as 54.7%, reaching a new 52-week high, and closed up 54.1% on Monday. In contrast, Prosus shares fell 8.7%, placing it near the bottom of the pan-European Stoxx 600 index. Delivery Hero, in which…

Tesla is voluntarily recalling 376,241 vehicles in the U.S. due to a power-assisted steering system failure, according to records from the U.S. National Highway Traffic Safety Administration (NHTSA). Affected Models and Cause of the Issue The recall affects Model 3 and Model Y vehicles manufactured for sale in the U.S. between February 28, 2023, and October 11, 2023. The vehicles in question were equipped with an older software version linked to the power steering issue. Tesla reported that the printed circuit boards in the steering systems of affected vehicles could become overstressed, potentially causing power-assisted steering to fail when the…

The Air Force One program may face further delays, potentially pushing delivery until 2029 or even later, according to a senior administration official. Supply chain challenges and evolving requirements are cited as the primary reasons for the setbacks. Reasons for the Delays The delays are reportedly due to Boeing’s difficulty in obtaining necessary components, as some suppliers have gone out of business. Additionally, requirements for the new presidential aircraft, known as VC-25B, have changed due to evolving security threats, further complicating the project. Boeing has not commented on the delays. Initially scheduled for delivery in December 2024, the first aircraft’s…