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The authorisation is supported by outcomes from two Phase III trials.

After two years of progress on inflation and surprisingly persistent economic growth, the Federal Reserve next week meets with one eye on new Trump administration policies and another on a bond market that has ratcheted up borrowing costs even as U.S. central bankers have been cutting interest rates. Both pose potential challenges in an economy where inflation has edged slowly closer to the Fed's 2% target without the recession and large rise in unemployment that some central bank officials felt would be needed for price pressures to ebb. The unemployment rate instead fell as low as 3.4% and ended 2024 at 4.1%, close to what many economists think the economy can support without reigniting price pressures; inflation has declined to perhaps just half a percentage point from the Fed's target.

Trump has vowed to "immediately begin the overhaul of our trade system" with tariffs on goods from Canada and Mexico.

December volumes were up 11% year over year, with global spot rates resting at $2.99 per kilogram.

China's luxury market declined by 18% to 20% in 2024, marking the end of a period of "exponential growth", with sales expected to remain flat this year, consultancy Bain and Company said at the launch of its latest 'China Luxury Report' on Tuesday. Discretionary items, including personal luxury goods, have been hard hit in China, which accounts for around a third of global luxury goods sales.

Nvidia CEO Jensen Huang wrapped up a fast-paced 55-hour visit to Taiwan, which included engagements with top industry leaders and visits to key manufacturing sites, underscoring the island's role in the global artificial intelligence (AI) and semiconductor industries. On Sunday, Huang hosted a high-profile lunch in Taipei, attended by 36 top executives from Taiwan's leading technology companies. This rare gathering included Foxconn Technology Group chairman Liu Young-way, Foxconn industrial inte

European stocks saw their second largest allocation in a quarter of a century in January, as lagging risk assets played catch up, according to a survey of investors from BofA Global Research published on Tuesday. In a report titled "Make Europe Great Again", BofA said asset allocation remained risk-on, with investors bullish towards the U.S. dollar and stocks, but bearish towards everything else. A disorderly rise in bond yields was seen as the most bearish development for 2025, BofA said.

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