The German economy shrank by 0.2% in the final quarter of 2024 compared with the previous quarter, the statistics office reported on Tuesday, confirming a preliminary reading. Exports of goods and services were down considerably, falling 2.2% compared with the previous quarter, with a higher decline last recorded in the second quarter of 2020, it said. Increasing competition from abroad, high energy costs, elevated interest rates and uncertain economic prospects have taken their toll on the German economy, which contracted in 2024 for the second year in a row.
China Cobalt Stocks Jump as Congo Exports Ban Sparks “Chaos”
(Bloomberg) -- Cobalt stocks rose in China on Tuesday as a surprise export ban in the Democratic Republic of Congo lifted the near-term outlook for the material used in alloys and batteries. Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’NYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesAs Visitors Discover Ghent, the City Is Tryi
Goldman Says US Households to Pay $170 If Oil Tariffs Imposed
(Bloomberg) -- A potential US tariff on oil imports would hand consumers a $22 billion bill as higher costs get passed on, while doing little to stimulate domestic crude production, according to Goldman Sachs Group Inc.Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’NYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesAs Visitors Disc
Binance Open Bitcoin Futures Bets Jump by Over $1B as BTC Chalks Out Bearish Candlestick Pattern: Godbole
Futures activity hints at an influx of fresh shorts as Monday's bearish marubozu candle points to more losses ahead.
Solana Plunges 14%, XRP, Dogecoin Down 8% as Crypto Market Sell-Off Worsens
Traders said the current bearish sentiment could be overblown and macroeconomic decisions were key to support market growth.
Why retail darling Palantir has seen its stock plunge more than 20% in a week
Planned cuts to defense spending sparked a sell-off for Palantir stock that has continued into this week. Shares have tumbled after touching records.
Watch These Berkshire Hathaway Price Levels After Stock Sets Record High
Berkshire Hathaway shares jumped to a record high Monday after the conglomerate reported over the weekend that its fourth-quarter operating earnings surged more than 70% from a year earlier. Monitor these important chart levels.
Spending cuts and mass layoffs have made growth the biggest question mark for US stocks
Torsten Sløk, chief economist at Apollo, estimates 1 million jobs could be eliminated by the DOGE job layoffs.
Oil prices fall 2% to two-month low on worries about US tariffs
Oil prices fell more than 2% to a two-month low on Tuesday on negative economic news from the U.S. and Germany, driven in part by worries about U.S. President Donald Trump's push for trade tariffs. Brent futures fell $1.61, or 2.25%, to $73.17 a barrel by 10:34 a.m. EST (1534 GMT), while U.S. West Texas Intermediate (WTI) crude fell $1.60, or 2.3%, to $69.10. Analysts said Trump's trade policies have raised concern at the U.S. Federal Reserve that higher import tariffs could boost inflation.
China’s Repo Market Hit Hard as Yuan Defense Sparks Cash Squeeze
(Bloomberg) -- China’s strategy of defending its currency by choking local liquidity is sending ripples throughout the financial system, squeezing banks and fueling losses at bond funds.Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’NYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesAs Visitors Discover Ghent, the City Is Trying to