Latest business news and market updates
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China has begun construction of a massive hydroelectric dam in Tibet’s Yarlung Zangbo Grand Canyon, aiming to generate three times the electricity of the Three Gorges Dam. The project raises environmental and geopolitical concerns, particularly from India.
HSBC is experiencing difficulties in its search for a new chairperson, extending its leadership uncertainty amid a competitive banking sector and complex geopolitical environment.
Despite robust consumer-driven corporate profits in Q2, stock market reactions remain muted, signaling that investors have high expectations and are quick to penalize earnings misses amid a volatile market environment.
On July 4, 2025, President Donald Trump signed a $3.4 trillion budget bill, extending tax cuts and funding immigration enforcement, sparking debate on its long-term economic effects.
Former Treasury Secretary Lawrence Summers cautions that President Trump’s proposed 'One Big Beautiful Bill' could increase budget deficits and weaken social welfare programs. He also warns of delayed inflationary impacts due to tariffs and debt-driven spending, while criticizing calls for ultra-low interest rates.
A deadly fire at Iran’s largest oil refinery in Abadan has claimed one life, highlighting ongoing safety challenges in the country’s critical energy infrastructure.