Business News

Emboldened crypto industry seeks to cement political influence and mainstream acceptance

The cryptocurrency industry is emboldened, impatient and eager to cement its influence in politics and mainstream financial systems. Crypto-friendly lawmakers expect two pieces of legislation to become law. within the next year. One would set regulations and reserve requirements for issuers of stablecoins, a popular type of crypto whose value is typically tied to the dollar or other traditional currencies. Another sets clear rules on how other digital assets should be regulated. Similar legislation has stalled in past years but many crypto backers expect broad, bipartisan support for passage this time. That’s due in part to the heavy political spending by the crypto industry.

Fixing Germany’s economy is a critical task for the country’s next government

MULFINGEN, Germany (AP) — Germany needs a new business model to get its stalled economy going again. Delivering that fresh growth strategy is going to be the biggest challenge for the government that takes office after a snap national election set for Feb. 23. The nation that became known for the quality of its products has not seen real economic growth for five years. Business leaders complain about a shortage of skilled workers, too much bureaucracy and a lack of infrastructure upgrades. Rising competition from China and high energy prices due to Russia’s war in Ukraine also have left Europe’s biggest economy mired in stagnation and angst about the future.

Germany’s economy is in the dumps. Here are 5 reasons why

FRANKFURT, Germany (AP) — Germany hasn’t seen significant economic growth in five years. It’s a stunning turnaround for Europe’s biggest economy. The country had expanded exports and dominated world trade in engineered products like industrial machinery and luxury cars for most of this century. So what happened? A combination of domestic and geopolitical factors. German businesses complain about lagging public investments, too much red tape and a lack of skilled workers at home. New manufacturing competition from China and Russia’s decision to stop supplying Germany with natural gas due to opposing views of the war in Ukraine compounded the situation.

The anti-Musk protest movement is expected to ramp up with Congress on recess

NEW YORK (AP) — President Donald Trump’s billionaire top lieutenant, Elon Musk, is the focus for thousands of Democratic activists launching a massive protest campaign this week. The Democrats are outraged by the Republican administration’s push to gut federal health, education and human services agencies. Hundreds of protests are scheduled outside congressional offices and Tesla dealerships, with organizers hoping to send a pointed message to members of Congress who are on recess this week. Outraged left-wing activists want elected officials in both major political parties to push back against Musk, Tesla’s CEO. Trump has praised Musk’s work with his Department of Government Efficiency, saying it has found “shocking” evidence of wasteful federal spending.

Downloads of DeepSeek’s AI apps paused in South Korea over privacy concerns

SEOUL, South Korea (AP) — DeepSeek, a Chinese artificial intelligence startup, has temporarily paused downloads of its chatbot apps in South Korea while it works with local authorities to address privacy concerns, according to South Korean officials on Monday. South Korea’s Personal Information Protection Commission said DeepSeek’s apps were removed from the local versions of Apple’s App Store and Google Play on Saturday evening and that the company agreed to work with the agency to strengthen privacy protections before relaunching the apps. The action does not affect users who have already downloaded DeepSeek on their phones or use it on personal computers.

Agreements on getting Cyprus natural gas to market via Egypt hailed as energy cooperation milestone

NICOSIA, Cyprus (AP) — The president of Cyprus says a pair of agreements outlining how sizeable natural gas deposits inside Cypriot waters will get to market via processing facilities in Egypt are a milestone for energy cooperation. Nikos Christodoulides said the cooperation between Cyprus and Egypt is helping to define the regional energy map, calling the agreements “game-changers” that are “pivotal for our strategic partnership.” The Aphrodite deposit – the first gas field discovered inside Cyprus’ exclusive economic zone in 2011 – is estimated to contain 4.5 trillion cubic feet of gas, while the Cronos deposit is believed to be even larger.

Stock market today: Global benchmarks trade mixed as investors continue to eye Trump

TOKYO (AP) — Global shares are trading mixed as investors continue to watch economic data and policy moves from U.S. President Donald Trump, as both are likely to impact upcoming central bank moves. Shares rose in early Monday trading in Germany and Britain, while falling in France. Japan’s benchmark Nikkei 225 initially rose after the Cabinet Office reported that the economy grew at a better-than-expected annual rate of 2.8% in October-December, but later pared some of those gains to finish less than 0.1% higher. Shares rose in Seoul and Shanghai while falling in Sydney and Hong Kong. U.S. markets are closed for a holiday.

‘Captain America: Brave New World’ soars toward a $100 million holiday weekend

“Captain America: Brave New World” is infusing some blockbuster cash into the North American box office. The Walt Disney Co. said Sunday that the film earned an estimated $88.5 million over the weekend. By the end of Monday’s Presidents’ Day holiday, it should hit $100 million domestically and $192.4 million globally. Second place went to “Paddington in Peru,” the third installment in the beloved franchise, which finally opened in North America this weekend with an estimated $13 million. Sony’s slasher “Heart Eyes” landed in third place with $10 million. Fourth place went to “Dog Man” with $9.7 million.

Japan’s economy grows more than expected on strong exports and moderate consumption

TOKYO (AP) — Japan’s economy grew at a better-than-expected annual rate of 2.8% in October-December, underlined by steady exports and moderate consumption. The Cabinet Office reported Monday in its preliminary data that the world’s fourth largest economy grew 0.7% on-quarter for its third straight quarter of growth. In 2024, the Japanese economy eked out 0.1% growth in seasonally adjusted real GDP, or gross domestic product, which measures the value of a nation’s product and service. That’s the fourth straight year of expansion. Private consumption grew at an annual rate of 0.5% during the three months through December, holding up while losing momentum.