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U.S. Treasury Secretary Janet Yellen Warns of Possible Debt Default by January 14

The Treasury may have to take "extraordinary measures" to prevent a debt default as early as January 14, U.S. Treasury Secretary Janet Yellen warned l

The Treasury may have to take "extraordinary measures" to prevent a debt default as early as January 14, U.S. Treasury Secretary Janet Yellen warned legislators in a recent letter. Yellen called on Congress to take immediate action to protect the United States creditworthiness. She said a planned redemption for Medicare is expected to reduce the U.S. debt by about $54 billion. Between January 14 and January 23, the Treasury is anticipated to hit the debt ceiling, requiring these unprecedented steps. The budget agreement for 2023 allowed for the continuation of operations by suspending the debt cap until January 1, 2025. Nevertheless, Congress must take action to handle the growing debt, a persistent problem since the first debt ceiling was set in 1939. Read More..

B2B Tech News | 3 months ago        

Chinese President Xi Jinping to Visit Russia in 2025, Confirms Moscow’s Ambassador

Russias ambassador to Beijing, Igor Morgulov, has claimed that Chinese President Xi Jinping is anticipated to travel to Russia in 2025. He reaffirmed

Russias ambassador to Beijing, Igor Morgulov, has claimed that Chinese President Xi Jinping is anticipated to travel to Russia in 2025. He reaffirmed that preparations for bilateral events are underway, highlighting the importance of Xis visit. This comes after higherlevel meetings in the past, such as Putins trips to China in February 2022 and May 2023. China is aware of the current situation in Ukraine and faces comparable difficulties due to pressure from the United States and NATO, Morgulov emphasised. To counter alleged Western "dual deterrence," both countries want to work together. In addition, Russia has backed a peace plan that China and Brazil have put up for Ukraine. Still, Ukraine has rejected it as serving Moscows interests amid unresolved territorial disputes. Read More..

B2B Tech News | 3 months ago        

FDIC Finalizes Agreement with Vanguard to Tighten Regulations on Investment Management

Vanguard and the US Federal Deposit Insurance Corporation have reached a deal to strengthen restrictions on the investment management companys capacit

Vanguard and the US Federal Deposit Insurance Corporation have reached a deal to strengthen restrictions on the investment management companys capacity to purchase sizable shares in major US banking institutions. By defining the parameters for passive investors in FDICsupervised banks and preventing unethical influence over their management choices, this agreement strengthens the FDICs supervision of Vanguards investment activities. Concerns about the dangers of concentrated ownership among significant institutional investors, such as Vanguard and BlackRock, are the reason behind the agreement. In keeping with its commitment to passive investing, Vanguard is now expressly forbidden from influencing the management or policies of regulated institutions. To ensure adherence to these new regulations, the FDIC will carefully monitor Vanguards dealings with bank management. As of right now, no such deal with BlackRock has been documented. Read More..

B2B Tech News | 3 months ago        

Global Economy Faces Geopolitical Tensions and Inflationary Pressures as 2025 Approaches

As central banks attempt to lower interest rates in the wake of large inflation shocks, the global economy enters 2025 amid escalating geopolitical te

As central banks attempt to lower interest rates in the wake of large inflation shocks, the global economy enters 2025 amid escalating geopolitical tensions and inflationary pressures. Donald Trumps planned return to the White House is predicted to rekindle international trade battles, especially with China, where suggested tariffs may affect inflation and the federal budget of the United States. Consumer confidence and economic growth are at risk, and the UK faces stagnation and possible stagflation. Careful central banks like the Bank of England weigh interest rate reductions against ongoing inflation and wage increases. Furthermore, governments face increased borrowing costs in a market where bond investors can expect higher returns, making fiscal policies more difficult if deficits continue to rise. Read More..

B2B Tech News | 3 months ago        

India’s MoU with US on Critical Minerals A Step Towards Enhanced Bilateral Engagement

The governments yearend review for 2024 states that Indias Memorandum of Understanding MoU with the US on essential minerals is set to strengthen bila

The governments yearend review for 2024 states that Indias Memorandum of Understanding MoU with the US on essential minerals is set to strengthen bilateral cooperation, especially in the electric vehicle EV sectors. To give India access to the US EV tax credit under the Inflation Reduction Act IRA, the proposed Critical Minerals Partnership Agreement CMPA seeks to transform the Memorandum of Understanding MoU into a framework similar to a free trade agreement FTA. Significant foreign investment in Indias EV manufacturing could result from this. The assessment also mentioned ongoing discussions for free trade agreements FTAs with several nations, including the UK and the EU, as well as increased export credit insurance for small exporters and greater market access for Indian fish exports to China. Read More..

B2B Tech News | 3 months ago        

News Corp Sells Foxtel to DAZN for A$3.4 Billion Amid Streaming Challenges

A$3.4 billion $2.1 billion, including debt, News Corp has agreed to sell its Australian cableTV division, Foxtel, to British sports network DAZN as pa

A$3.4 billion $2.1 billion, including debt, News Corp has agreed to sell its Australian cableTV division, Foxtel, to British sports network DAZN as part of a plan to adjust to the difficulties presented by streaming services. The agreement gives DAZN the streaming rights to the Australian Football League and National Rugby League, while News Corp keeps a 6% ownership in DAZN and gets a seat on the board. Due to its struggles with dwindling income and growing sports broadcasting costs, Foxtel has shifted to streaming services. News Corps concentration on its primary business activities, including publishing and digital real estate, is evident in this deal. In the latter part of 2025, the agreement is anticipated to close. Read More..

B2B Tech News | 3 months ago        

Suez Canal Revenues Plummet by $7 Billion in 2024 Amid Regional Turmoil

President Abdel Fattah alSisi claimed that Egypts earnings from the Suez Canal had fallen by over $7 billion in 2024. Compared to 2023, this represent

President Abdel Fattah alSisi claimed that Egypts earnings from the Suez Canal had fallen by over $7 billion in 2024. Compared to 2023, this represents a startling drop of more than 60% nevertheless, Sisi did not elaborate on the circumstances that resulted in this loss. The significant decline in revenue is ascribed to persistent regional issues, specifically the over 100 strikes on ships in the Red Sea that Yemeni Houthi fighters have carried out since November. Amid the protracted conflict in Gaza, these attacks carried out in sympathy with Palestinians, have forced shipping corporations to divert ships across Africa rather than via the canal. Due to this diversion, international trade has been affected, resulting in higher shipping costs and delivery delays. Read More..

B2B Tech News | 3 months ago        

Bank of Japan Forecasts Potential $13 Billion Loss Amid Plans to Raise Interest Rates

According to projections released by the Bank of Japan, if shortterm borrowing prices increase to 2%, it might experience a shortterm loss of up to $1

According to projections released by the Bank of Japan, if shortterm borrowing prices increase to 2%, it might experience a shortterm loss of up to $13 billion. According to this prediction, published in a recent study, the BOJ plans to raise shortterm interest rates gradually to 0.25%, which is considered neutral for the economy. The projections indicate that the BOJ may experience a yearly net loss of roughly 2 trillion yen in fiscal years 2027 and 2028 if shortterm rates rise to 2% with a widening yield differential. Earnings are anticipated to increase by fiscal 2031, though. After 10 years of heavy stimulus, the BOJ is pursuing sustainable inflation targets, tightening policy, and cutting bond purchases. Read More..

B2B Tech News | 3 months ago        



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