A powerful government panel failed Monday to reach consensus on the possible national security risks of a proposed nearly $15 billion deal by Japan’s Nippon Steel to buy U.S. Steel, leaving the decision to President Joe Biden, a long-time opponent of the agreement. The Committee on Foreign Investment in the United States, known as CFIUS, … Read more
FTC warns shoppers about gift card scams ahead of holiday rush – CBS News Watch CBS News The Federal Trade Commission warns that fraudsters can access gift card numbers and PINs even before purchase. Kelly O’Grady shares tips for staying safe during one of the busiest shopping days of the year. Be the first to … Read more
Aviva has agreed a deal to buy rival company Direct Line for £3.7 billion before the Christmas Day deadline. The insurance company announced the deal with its smaller competitor weeks after a £3.3bn bid turned down in November. A deal between the two companies would make them a force in motor insurance, which is estimated … Read more
A leading construction industry body has warned the Prime Minister that the measures unveiled in the Budget would “fatally harm” the sector’s family businesses, worsening the corporate backlash the Government has faced since late October. In a letter to Sir Keir Starmer seen by Sky News, Steve Mulholland, chief executive of the Construction Plant-hire Association … Read more
The UK economy showed no growth last quarter, according to revised figures from the Office for National Statistics (ONS). The previous estimate for July and September indicated that the economy grew by 0.1%. Early estimates show that real GDP per capita fell by 0.2% in the third quarter of 2024, down 0.2% from the same … Read more
What it means after the Fed cuts interest rates again – CBS News Watch CBS News The Federal Reserve announced Wednesday that it would cut rates by a quarter of a percentage point, representing a one-percentage-point drop since September. CBS News business analyst Jill Schlesinger explains the impact on your finances. Be the first to … Read more
Bank of England Governor Andrew Bailey will join Rachel Reeves on a visit to China next month aimed at strengthening financial services trade ties between the two countries. Sky News has learned that Mr Bailey and Nikhil Rathi, chief executive of the Financial Conduct Authority, will both accompany the chancellor during the January trip. Mr … Read more
An electric cargo bike logistics company, which counts fashion giant Zara among its partners, has launched an emergency search for new backers. Sky News has learned that Zedify, which has raised millions of pounds from investors including Barclays Sustainable Impact Capital, was working with Interpath Advisory on a review of its funding options. Zedify claims … Read more
The Bank of England has maintained its forecast for “gradual” interest rate cuts for next year, after surprisingly backing a cut this month. Its pricing committee, while deciding to keep Bank interest rate maintained at 4.75%, noted higher than expected salary increases and inflation despite a slowdown in the economy in the second half. However, … Read more
Popular retail chain Party City filed for bankruptcy protection Saturday, a day after revealing to its employees that it would be making mass layoffs at its New Jersey headquarters. The filing was made in the Southern District of Texas Bankruptcy Court, according to court documents obtained by CBS News. The company had liabilities of between … Read more