• Feb 24, 2025

German economy shrank by 0.2% in Q4, statistics office confirms

The German economy shrank by 0.2% in the final quarter of 2024 compared with the previous quarter, the statistics office reported on Tuesday, confirming a preliminary reading. Exports of goods and services were down considerably, falling 2.2% compared with the previous quarter, with a higher decline last recorded in the second quarter of 2020, it said. Increasing competition from abroad, high energy costs, elevated interest rates and uncertain economic prospects have taken their toll on the German economy, which contracted in 2024 for the second year in a row.

  • Feb 24, 2025

China Cobalt Stocks Jump as Congo Exports Ban Sparks “Chaos”

(Bloomberg) -- Cobalt stocks rose in China on Tuesday as a surprise export ban in the Democratic Republic of Congo lifted the near-term outlook for the material used in alloys and batteries. Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’NYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesAs Visitors Discover Ghent, the City Is Tryi

  • Feb 24, 2025

Goldman Says US Households to Pay $170 If Oil Tariffs Imposed

(Bloomberg) -- A potential US tariff on oil imports would hand consumers a $22 billion bill as higher costs get passed on, while doing little to stimulate domestic crude production, according to Goldman Sachs Group Inc.Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’NYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesAs Visitors Disc