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China expects increase in New Year travel numbers, despite economic doldrums

8 Jan 2025

BEIJING (Reuters) – China expects an increase in the number of people joining the coming Lunar New Year travel rush, with authorities estimating a record 9 billion domestic trips will be made during the 40-day period of festivities, despite the stuttering economy. State media reported the forecast for the travel season that starts on Jan. …

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Euro zone households likely to keep saving to rebuild wealth, ECB says

8 Jan 2025

FRANKFURT (Reuters) – Euro zone households could keep saving a large portion of their income to rebuild wealth lost to high inflation, the European Central Bank argued, suggesting lacklustre consumption will continue to weigh on growth in the near term. European families are sitting on an ever-growing pile of savings, confounding hopes that consumer largesse …

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Australia’s core inflation slows, keeping door open to Feb rate cut

8 Jan 2025

SYDNEY (Reuters) – Australian consumer price inflation crept up from three-year lows in November as electricity costs jumped, but a drop in core inflation still bolstered the case for a cut in interest rates as early as next month. The Australian dollar slipped 0.34% to $0.6214, while three-year bond futures reversed earlier losses to be …

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Australia’s CBA fails to notify regulators over cash access fee, Australian reports

8 Jan 2025

(Reuters) – The Commonwealth Bank of Australia failed to formally notify either of the country’s prudential regulators before shifting a million customers to new bank accounts, causing many to pay to access cash through branches, the Australian reported. The report published on Wednesday said ‘Freedom of Information’ requests showed both the country’s corporate regulator, Australian …

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AI startup Anthropic to raise $2 billion at $60 billion valuation, sources say

8 Jan 2025

By Anna Tong, Krystal Hu and Akash Sriram (Reuters) -AI startup Anthropic is near a deal to raise an additional $2 billion at a price that values the company at $60 billion, sources said, months after its $4 billion funding from Amazon. Venture capital firm Lightspeed Venture Partners is leading the funding round, according to …

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Third Rock-backed Maze Therapeutics reveals profit in US IPO filing

8 Jan 2025

(Reuters) – Biotech firm Maze Therapeutics, backed by Third Rock Ventures, revealed a profit for the first nine months of 2024 in its paperwork for a U.S. initial public offering (IPO) filing on Tuesday. The U.S. IPO market has seen an uptick amid falling interest rates, strong equity markets, and hopes of a friendlier regulatory …

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Internet-connected devices can now have a label that rates their security

8 Jan 2025

By Raphael Satter WASHINGTON (Reuters) – The White House on Tuesday unveiled a new label for smart thermostats, baby monitors, app-controlled lights and other internet-connected devices that will allow consumers to see how the increasingly popular items rate on cybersafety criteria. The Cyber Trust Mark – a stylized shield logo with microchip-style detailing – is …

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