Tax rises ‘inevitable’, thinktank warns, as Reeves set to warn markets of budget plans – business live

Germany is grappling with a record trade deficit with China, highlighting significant economic challenges. This situation matters because it reflects the shifting dynamics in global trade and could impact Germany's economy, affecting jobs and growth. As the largest economy in Europe, Germany's trade relations are crucial not just for its own stability but also for the broader European market.

Japan's Prime Minister Takaichi has launched a new economic headquarters aimed at boosting public investments. This initiative is significant as it reflects the government's commitment to revitalizing the economy and fostering growth, especially in the wake of recent global challenges. By focusing on public investments, Takaichi hopes to stimulate job creation and enhance infrastructure, which could lead to a more robust economic future for Japan.

Small-town America is experiencing a boom as data centers bring in business for contractors and local bars, while hotels and RV parks are filled with out-of-town workers. This influx of cash is benefiting local governments, but it also raises concerns about the potential costs associated with rapid growth. It's a fascinating transformation that highlights both the opportunities and challenges of modern economic development.

The US Treasury Secretary has announced his attendance at an upcoming Supreme Court hearing regarding tariffs. This event is significant as it highlights the government's ongoing efforts to address trade policies and their implications on the economy. The outcome of this hearing could influence future tariff regulations and impact various industries across the nation.

Goldman Sachs and Bank of America have assessed the current situation regarding the Japanese yen, which is nearing the significant 155-per-dollar mark. They believe that there is little immediate risk of currency intervention from Japan, as the typical indicators for such actions have not yet been triggered. This insight is important for investors and markets as it suggests stability in Japan's currency policy for the time being.

Goldman Sachs CEO David Solomon recently shared insights on US-China relations and the current landscape of mergers and acquisitions during an interview with Bloomberg Television at the Global Financial Leaders’ Investment Summit in Hong Kong. His comments highlight the ongoing complexities in international finance and the strategic moves companies are making in response to evolving market conditions. Understanding these dynamics is crucial for investors and businesses as they navigate the challenges and opportunities in the global economy.

Goldman Sachs' CEO has highlighted a promising outlook for large mergers and acquisitions in the US, predicting a significant backlog for 2026 and 2027. This is important as it suggests a robust market ahead, potentially leading to increased economic activity and opportunities for businesses to grow through strategic partnerships.

Chancellor Rachel Reeves is set to deliver a significant speech outlining the upcoming budget, where she will candidly address the tough choices regarding potential tax increases. While promising fairness and opportunity, she will not reaffirm Labour's previous commitment to not raise income tax, hinting at a possible shift in policy. This speech is crucial as it sets the tone for the government's financial strategy and could impact public perception and market reactions.

The dollar has softened against various currencies as investors digest recent comments from Federal Reserve officials, which reveal differing opinions on the potential for interest rate cuts. This divergence in views is significant as it could influence future monetary policy and market stability, making it a key point of interest for traders and economists alike.

Baird has upgraded Waste Management's stock rating to 'Outperform', highlighting its attractive valuation. This upgrade is significant as it reflects confidence in the company's future performance and potential for growth, which could lead to increased investor interest and potentially higher stock prices.

In a recent update, analysts from Goldman Sachs have indicated that Rachel Reeves's upcoming budget speech may lead to a decrease in government borrowing costs. This is contingent on her ability to reassure bond markets about her commitment to addressing the deficit. As tax rises seem inevitable, this speech is crucial for maintaining market confidence and could have significant implications for the economy.

Gunvor's CEO, Torbjörn Törnqvist, announced that the acquisition of Lukoil's international assets marks a significant 'clean break' for the company. This deal is important as it not only expands Gunvor's portfolio but also reflects a strategic shift in the energy market, potentially leading to new opportunities and stability in the sector.

AB Foods is considering separating its Primark clothing business from its food operations due to a projected decline in sales and lower operating margins for Primark in the coming year. This decision highlights the challenges faced by the retail sector, particularly in clothing, and could signal a significant shift in the company's strategy to focus on more profitable areas.

Aker ASA has reported impressive third-quarter results, showcasing significant growth and profitability. The company is not only thriving financially but is also expanding its investments in artificial intelligence and real estate, indicating a strategic move towards future-oriented sectors. This is important as it highlights Aker's commitment to innovation and diversification, positioning itself well in a competitive market.