American consumers emerged as the unsung heroes of the economy in 2024, keeping it steady despite challenges from inflation and high Federal Reserve rates. Analysts had anticipated a breaking point for consumers due to these factors, which could have led to job losses and slowed growth. However, consumers proved to be resilient throughout the year, … Read more
Hyundai Motor Company and Toyota Motor Corporation have joined forces to organize the inaugural ‘Hyundai N x TOYOTA GAZOO Racing Festival’ at Yongin Speedway in Korea. The event aimed to showcase high-performance production and racing cars from both companies, highlighting their shared dedication to enhancing South Korea’s motorsport culture and engaging customers. The festival featured … Read more
A post-Brexit scheme to reduce bureaucracy for French children on school trips to the UK is in danger of being canceled due to new entry requirements being implemented by the UK, according to warnings from the travel industry. The new regulations for French school trips were put in place in December 2023 after a meeting … Read more
There’s no barrier that we can’t bust through. And the reality is, there are some constraints that are just constraints.” While she still believes in overcoming obstacles, she’s learned that “sometimes you just have to acknowledge them, and then work around them. And that’s okay. That’s still progress.” Today, Casalan is back at work and … Read more
Georgia’s ruling Georgian Dream party secured over 54% of the vote in a parliamentary election, according to the electoral commission. The outcome is disappointing for pro-Western Georgians, who viewed the election as a choice between a ruling party that has strengthened ties with Russia and an opposition that aimed to accelerate integration with the European … Read more
South Africa’s grand coalition government, which has surprised sceptics by holding together, is facing a foreign policy standoff between the two largest parties. Clashes over three contentious foreign policy issues — Russia, China, and Israel — have highlighted deep ideological differences between the African National Congress and the Democratic Alliance, raising concerns about the coalition’s … Read more
Two servings of pistachio gelato, one serving of corruption. For years, tourists have been enjoying Sicilian gelato at popular parlors in Palermo, unaware that these thriving businesses were under the control of organized crime. The scheme was a classic case for investigators trained to uncover illicit financial activities, but even with the presence of three … Read more
By Karen Freifeld and Fanny Potkin (Reuters) – Taiwan Semiconductor Manufacturing Company has halted shipments to China-based chip designer Sophgo after a chip it produced was discovered on a Huawei AI processor, according to two sources familiar with the situation. Sophgo had ordered chips from TSMC that matched the one found on Huawei’s Ascend 910B, … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. One of this year’s top-performing stocks may just be sitting at the back of your shoe closet. Love them or hate them, Crocs — the maker of colourful, albeit aesthetically polarising foam clogs — has … Read more
Digital currency will not completely replace physical cash in the UK, as the Bank of England intends to continue providing notes and coins as long as there is demand for them. Governor Andrew Bailey made this clear during a panel discussion at the Group of Thirty’s 39th Annual International Banking Seminar in Washington. He emphasized … Read more