Author: vermontpatriot.com

U.S. stocks dropped Monday after Trump announced tariffs on China, Mexico, and Canada, but pared losses after he delayed Mexico tariffs for one month following talks with President Sheinbaum.

The EU AI Act is now in force, prohibiting exploitative AI systems and enforcing transparency rules, making Europe the first region to regulate AI development at this scale.

Moscow rebuffed Trump’s claims on BRICS forming a currency, asserting that the group is prioritizing joint investments rather than replacing the U.S. dollar in global trade.

Core inflation stayed at 2.8% in December, aligning with expectations but above the Fed’s target. Rising energy costs and tariff threats pose risks to price stability.

Trump’s 25% tariffs on Canada and Mexico could drive up prices for gas, groceries, and cars, with experts warning of economic fallout and potential supply chain disruptions.

H&M shares dropped after missing Q4 sales estimates, though profit improved. CEO Daniel Ervér remains optimistic, citing early signs of recovery in the new fiscal year.

The euro zone economy stalled in Q4, posting zero growth, missing forecasts. The ECB responded with a rate cut as inflation concerns persist despite weak GDP data.

Shell’s 2024 profit fell 16% to $23.72 billion, missing estimates. Despite weaker oil prices, the company raised dividends by 4% and announced a $3.5 billion share buyback.

Russia’s grain exports reached a record 72 million tonnes in 2024, driven by strategic growth in agricultural output and trade, cementing its global leadership.

The EU has pledged €60 million to provide emergency relief in the DRC, focusing on displaced populations and those affected by conflict and epidemics in the eastern regions.