Business

ECB Raises Rates to 2.5% as Iran War Fuels Inflation

ECB Raises Rates to 2.5% as Iran War Fuels Inflation

The European Central Bank has raised interest rates to 2.5% and warned that renewed fighting in the Middle East is increasing the risk of higher inflation over the next year, according to The Guardian.

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Oil hits $100 a barrel for first time since July

Oil hits $100 a barrel for first time since July

Oil prices have climbed above $100 a barrel for the first time since July 2026, driven by renewed military strikes in the Middle East, including U.S. actions against Iranian tankers and Houthi attacks on Saudi oil infrastructure.

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China to Pump $54bn into State Banks

China to Pump $54bn into State Banks

China is injecting $53.6 billion into eight state-owned banks and insurers to stabilize its financial system and support a slowing economy, according to Xinhua.

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Nvidia to Buy Developer Platform Hugging Face in $12.9bn Deal

Nvidia to Buy Developer Platform Hugging Face in $12.9bn Deal

Nvidia is acquiring open-source AI platform Hugging Face for $12.9 billion, according to reports from multiple outlets. The deal includes $11.9 billion in cash for investors and up to $1 billion in equity-based retention for employees.

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Volkswagen board approves plan to cut another 50,000 jobs

Volkswagen board approves plan to cut another 50,000 jobs

The Volkswagen Supervisory Board has approved a restructuring plan that will cut 50,000 jobs worldwide, according to a company announcement. The move is part of a broader effort to improve efficiency and competitiveness amid global market challenges.

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