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The German government on Wednesday slashed its 2025 growth forecast for the country's economy, Europe's biggest, to just 0.3% after it shrank for two consecutive years. The new projection is much lower than the government's previous forecast of 1.1% growth, issued in October. Germany has managed no meaningful economic growth in the past four years as it has struggled to deal with major shifts in the global economy and with structural challenges of its own.

With Donald Trump back in office, investors are bullish not only about the stock market but also about the cryptocurrency industry. According to Saylor, Bitcoin's price will soar 12,500% from its current price of $103,000 (on the evening of Jan. 22) to $13 million in 2045. It's worth pointing out that Saylor's base case sets a $13 million price target on Bitcoin in 2045.

Hedge fund stock-pickers lost billions of dollars on Monday in a rout in global technology shares sparked by the emergence of a low-cost Chinese artificial intelligence model, according to a Goldman Sachs trading update and industry figures on Tuesday. Hedge funds that pick stocks based on company fundamentals rather than using algorithms to trade systematically were down 1.1% Monday, as markets sank, Goldman's trading desk said, a significant one-day drop for funds that in a good year like 2024 make 15%. Goldman Sachs does not reveal dollar figures for the size of the hedge funds its teams track, but data from hedge fund research group BarclayHedge suggest the losses from Monday's sell-off could tally into the billions.

News of the day for Jan. 29, 2025

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In December, when Bitcoin (CRYPTO: BTC) finally broke through the $100,000 mark, the conventional thinking was that it was going to skyrocket in value in 2025. Bitcoin seemed to be on the cusp of going mainstream, especially after the launch of new spot Bitcoin exchange-traded funds (ETFs). Best of all, the incoming Trump administration ran on a decidedly pro-Bitcoin platform.

The U.S. M2 money supply continued to increase in December a bullish catalyst for risk-on assets.

(Reuters) -The dollar steadied on Wednesday ahead of the U.S. Federal Reserve's policy decision, with investors on edge for hints of how much interest rates might fall this year, while they broadly expect the central bank to keep policy unchanged for now. Expectations that trade policies under President Donald Trump could boost U.S. growth, but also push up inflation, fuelled bets on higher-for-longer interest rates in the lead-up to the inauguration, supporting the dollar. But as the tariff action investors had braced for has yet to materialise, currency markets have been volatile since Trump took office and the dollar has weakened.

Auto services provider Monro (NASDAQ:MNRO) missed Wall Street’s revenue expectations in Q4 CY2024, with sales falling 3.7% year on year to $305.8 million. Its non-GAAP profit of $0.19 per share was 35.6% below analysts’ consensus estimates.

Czech National Bank (CNB) governor Aleš Michl admitted any investment in Bitcoin could turn into an Enron and become worthless.