Author: Jamie Carpenter

Antitrust investigation delays strategic global acquisition Chinese regulators are investigating a U.S.-led consortium’s deal to acquire two ports in the Panama Canal zone, throwing a wrench into an agreement originally slated to close next week. The probe, initiated by China’s State Administration for Market Regulation, targets a transaction spearheaded by BlackRock, the world’s largest asset manager with $11.6 trillion in assets. The deal would see the consortium purchase Hong Kong-based CK Hutchison’s controlling interest in 43 global ports, spanning 199 berths across 23 countries. The acquisition was viewed as a potential geopolitical de-escalation move amid rising U.S.-China tensions. However, Chinese…

New Target Aims to Rebuild Reserves and Reduce Inflation Argentina is aiming to secure a $20 billion agreement with the International Monetary Fund (IMF), Economy Minister Luis Caputo said on Thursday, officially revealing the size of the much-anticipated program for the first time. The deal is intended to bolster Argentina’s foreign reserves, stabilize its currency, and reduce inflation. The agreement, if finalized, would mark the country’s 23rd program with the IMF. Caputo said the goal is to reassure Argentinians that “the pesos that exist are backed by the central bank,” promoting a healthier currency with lower inflation and poverty. “The…

Inflation Eases Below Forecasts The U.K.’s inflation rate fell slightly to 2.8% in February, coming in just below analyst expectations, according to data released by the Office for National Statistics (ONS) on Wednesday. Economists polled by Reuters had anticipated a rate of 2.9% for the year to February. After falling to 2.5% in December and jumping to 3% in January, the consumer price index (CPI) dropped again in February. Core inflation, which excludes food, energy, alcohol, and tobacco, also eased to 3.5% from 3.7%. ONS said the decline was mainly driven by clothing, housing and household services, and recreation and…

Samsung Electronics co-CEO Han Jong-Hee died from cardiac arrest on Tuesday, according to a spokesperson for the South Korean tech giant. Han was 63. Born in 1962, Han had overseen Samsung’s consumer electronics and mobile devices businesses since 2022, according to the company. He was named Samsung Electronics vice chairman and CEO in 2022. Han’s co-CEO, Jun Young-Hyun, was appointed to the position last week. The spokesperson told CNN that Jun, who has been leading the semiconductor business, would be the company’s sole CEO after Han’s death. In an internal message seen by CNN, Samsung paid tribute to Han, saying…

Deutsche Bank survey highlights mounting concern over U.S. growth The U.S. economy faces a nearly 50-50 chance of recession in the next 12 months, according to a new Deutsche Bank survey of 400 market participants. The average probability of a downturn was pegged at 43% during the March 17–20 survey window. Despite strong labor markets and modest economic growth, the survey adds to a growing wave of sentiment data showing increased anxiety among consumers and businesses. Federal Reserve Chair Jerome Powell acknowledged these concerns last week but maintained that the economy remains “strong overall.” Still, the Federal Reserve cut its…

FAA Investigating Takeoff Mishap A Southwest Airlines Boeing 737 mistakenly began takeoff from a taxiway instead of a runway at Orlando International Airport on Thursday, prompting urgent intervention from air traffic control. The Federal Aviation Administration (FAA) has launched an investigation into the incident. Flight 3278, bound for Albany, New York, was cleared to depart from Runway 17R. However, the aircraft instead began accelerating on parallel Taxiway H. The mistake was spotted by an air traffic controller, who immediately ordered the pilots to stop. Urgent Warning from Air Traffic Control Live audio from Broadcastify captured the dramatic moment when the…

4.2% Monthly Increase Defies Forecasts of a Decline Sales of previously owned homes in the U.S. rose by 4.2% in February compared to January, reaching an annualized pace of 4.26 million units, according to the National Association of Realtors (NAR). This surprising gain defied analysts’ expectations of a 3% decline. Despite the monthly jump, home sales were still 1.2% lower compared to February 2024. Mortgage Rates and Housing Demand The data reflects closings from contracts signed in December and January, when mortgage rates hovered in the 7% range for a 30-year fixed loan. As of today, rates have eased slightly…

BOJ Maintains Caution as Global Risks Mount The Bank of Japan (BOJ) kept interest rates unchanged on Wednesday, citing growing global economic uncertainty fueled by U.S. tariff policies. Governor Kazuo Ueda highlighted that while rising food costs and strong wage growth could push domestic inflation higher, external risks from U.S. trade actions make future rate hike decisions uncertain. Impact of U.S. Tariffs on Japan’s Economy Ueda acknowledged the potential fallout from U.S. President Donald Trump’s recent tariff increases, stating that the BOJ would reassess its economic forecasts in early April. “Japan’s wage and price conditions are on track, possibly stronger…

Business inventories in the U.S. rose in January, reversing a decline in the previous month as slowing sales boosted stockpiles at wholesalers. This increase could contribute to economic growth in the first quarter of 2025. Inventories Rise After December Decline According to the Commerce Department’s Census Bureau, business inventories increased 0.3% in January, following a 0.2% decline in December. The rise was in line with economists’ expectations. Impact on Economic Growth In the fourth quarter of 2024, private inventories were nearly depleted due to strong consumer spending, some of which was driven by pre-emptive buying ahead of new tariffs. This…

China’s retail sales growth accelerated in January-February, offering a boost to policymakers aiming to bolster domestic consumption. However, rising unemployment and easing factory output highlight ongoing economic challenges, particularly as new US trade tariffs add further pressure. Policymakers have prioritized expanding domestic demand to counteract the impact of President Donald Trump’s aggressive tariff policies targeting China’s exports. Yet, analysts warn that Beijing’s goal of achieving “around 5%” GDP growth in 2025 may be difficult given weak household demand and the nation’s prolonged property crisis. Retail Sales Beat Expectations Data from the National Bureau of Statistics (NBS) released Monday showed that…