BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry US President Donald Trump's "indiscriminate" trade tariffs, saying they are illegal and risk hurting the global economy. It warns that such measures "threaten to further reduce global trade" and are "affecting the prospects for global economic development."
OpenAI on Monday said it raised $40 billion in a new funding round that valued the ChatGPT maker at $300 billion, the biggest capital-raising session ever for a startup. OpenAI has been riding on the success of its latest image-generation features in ChatGPT, the world-leading AI app and chatbot.
Argentina's poverty levels fell sharply in the second half of 2024 after leaping during the first months of Javier Milei's presidency, official figures showed Monday. The figures represent a dramatic improvement for the libertarian Milei, whose draconian austerity policies were blamed for driving up the poverty rate to 52.9 percent of the population in the first six months of 2024.
President Donald Trump again downplayed risks that TikTok is in danger of being banned in the United States, saying he remains confident of finding a buyer for the app's US business by a Friday deadline. When the last deadline passed, in January, TikTok temporarily shut down in the United States, to the dismay of millions of users. bur-arp/mlm
Hollywood stars Ryan Reynolds and Rob McElhenney have helped Welsh football club Wrexham secure record financial results.
Five people died and another four were seriously injured in a blast Monday at a coal mine in northern Spain's Asturias region, the nation's deadliest mining accident in decades. This is the deadliest mining accident in Spain since 1995 when 14 people died following an explosion at a mine in Asturias near the town of Mieres.
The International Monetary Fund (IMF) has identified 10 African countries with the lowest debt exposure in its update list on the continent for March 2025.
Debt-laden Chinese property giant Vanke reported annual losses of 49.5 billion yuan ($6.8 billion) on Monday, citing falling sales and shrinking profit margins despite Beijing's attempts to revive the housing market. Chinese authorities were mulling plans to help Vanke plug a funding gap of $6.8 billion this year, Bloomberg News reported last month.
World economies were jittery Monday ahead of US President Donald Trump's "Liberation Day" when he is set to unleash tariffs against multiple countries, risking global turmoil to redress what he says are unfair trade imbalances. Trump insists that reciprocal tariffs are needed because the world's biggest economy has been "ripped off by every country in the world."
Renault and Nissan said Monday they had revised their partnership to allow for a reduction in their cross-shareholdings and other measures that would help the financially troubled Japanese carmaker. The new agreement will allow the carmakers to reduce their current 15 percent cross-shareholdings to 10 percent.
Economy
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