Budget deficit rose in December and is now 40% higher than it was a year ago

Elon Musk arrives at the US Capitol before the 60th Presidential Inauguration, where he, along with President Donald Trump and Vice President JD Vance, are dismantling the US government through the MAGA coalition. Musk's U.S. DOGE Service is seizing control of federal agencies and payment systems, risking catastrophic consequences for Americans and the global economy. Tasked by Trump to target agencies and funding, Musk is at the center of a constitutional crisis, subverting the legal...

The UK's base interest rate is expected to drop to its lowest level in over 18 months, with analysts predicting a cut from 4.75% to 4.5% by the Bank of England in its upcoming announcement on Thursday. This decrease is seen as a positive development for mortgage holders, as the base rate influences borrowing costs, including tracker mortgages. The potential rate cut comes amidst falling inflation rates and economic stagnation, with hopes that lower interest...

North Korean ballistic missiles fired by Russian forces at Ukraine have shown increased accuracy, hitting targets within 50-100 meters. This development raises concerns about potential threats to South Korea, Japan, and the U.S. as North Korea continues to test and enhance its missile technology on the battlefield. Full Article

Google has decided to abandon its diversity recruitment goals, joining other major US firms in scrapping such initiatives following pressure from the Trump administration. The technology giant is reviewing its DEI programmes and updating its annual investor report to reflect the change. Despite this trend, Apple has stood out by maintaining its diversity policies, while Target is facing a lawsuit over allegations of concealing risks associated with its DEI targets. Full Article

Huawei, the Chinese telecommunications and smartphone giant, saw a 22% increase in revenue to over 860 billion yuan in 2024, despite U.S. restrictions on accessing high-end technology. Chairman Howard Liang highlighted growth in the consumer and car solutions businesses, while the information and communications technology segment remained stable. Since 2019, Huawei has faced limitations on technology access from American suppliers, impacting its ability to utilize advanced 5G chips and Google's Android operating system. Full Article

A helicopter crash in north-central Italy killed three people, including Lorenzo Rovagnati, the CEO of Rovagnati salami and prosciutto maker. The accident occurred in Castelguelfo di Noceto, near Parma, where Rovagnati is based. The company is known for its Gran Biscotto cooked prosciutto, as well as other processed meats like salamis and mortadellas. Full Article