The European Union is unlikely to impose hefty tariffs on India and China for purchasing Russian oil, despite suggestions from the US. The EU, while aligning Russia sanctions with the US, prefers targeted measures over broad tariffs.

Swedish company Klarna made its debut on the New York Stock Exchange. Shares of the buy-now-pay-later firm jumped 30% after opening. The IPO was priced at $40, but shares opened at $52. The company sold over 34 million shares, raising $ ...more

Fitch Ratings reports a US economic slowdown, projecting a deceleration from 2.8% in 2024 to 1.6% in 2025 and 2026. Consumer spending and government expenditure are weakening, while the labor market shows signs of softening with reduced ...more