Economy Financial News

Former President Donald Trump on Thursday gave his second news conference in as many weeks as he adjusts to a newly energized Democratic ticket ahead of next week’s Democratic National Convention

Wall Street rallied closer to its record highs following signs that the U.S. economy is holding up better than expected

A continued property crisis and weak consumption dragged on China’s economic recovery in July, according to data released by the National Bureau of Statistics

Elon Musk had a field day on X, as millions joined in to hear an 'unscripted' conversation between him and Republic Presidential candidate Donald Trump. This appearance by Trump marks his solid comeback on X, after being reinstated in 2023. Musk and Trump covered a variety of topics around the US politics and economy, and also discussed the in and outs of the assassination attempt on the former President.

China's central bank will plan more policies to support growth, governor Pan Gongsheng said, as the economy struggles to gain momentum. The People's Bank of China (PBOC) will strengthen efforts to effectively implement monetary and financial policies that have been introduced this year and further steps will be made in accordance with the requirements of the State Council, Pan said in an interview with state broadcaster China Central Television on Thursday. He didn't elaborate on potential policies. Latest data show China's economic growth remains lackluster, with domestic demand faltering under a prolonged downturn in the housing market. That's drawing renewed attention to the need for more stimulus. Still, Pan said China's financial system is relatively stable and overall risk has eased significantly.

BSA made its debut in India on Thursday with the launch of 652-cc Gold Star 650 model at a starting price of Rs 2.99 lakh (ex-showroom Delhi). One of the oldest motorcycle companies in the world, Birmingham Small Arms Company (BSA), was acquired by the Mahindra group's premium motorcycles arm Classic Legends in 2016. Classic Legends sells Jawa and Yezdi motorcycles in the country. The BSA Gold Star 650, which made a comeback in the UK in 2021, is currently being sold in Europe, Turkey, New Zealand, and the Philippines.

Inflation cooled below 3% in July 2024, the first time it dropped beneath that level in more than three years.

The Pepe price has fallen by more than 4% in the past 24 hours, with its decline to $0.000007858 coming as the market as a whole also loses 4% today.

A top Federal Reserve official warned that the central bank needs to cut its key interest rate before the job market weakened further or the Fed would risk moving too late and potentially imperil the economy

Walmart had another quarter of strong sales that topped almost all expectations with its comparatively low prices proving a powerful draw for millions who have struggled with rising costs for housing, groceries and almost everything else

e-commerce giant JD.com beat estimates for quarterly profit on Thursday, helped by a mid-year sales festival and aggressive price cuts that drove more cost-sensitive consumers to its platform. U.S.-listed shares of the company rose 2.6% in premarket trading. Major Chinese vendors like JD.com and Alibaba have increased focus on discounting and lower-priced goods as the world's second largest economy sees a pullback from customers that as conscious about spending.

Donald Trump, the Republican candidate for the US Presidential Election 2024. If reports are to be believed, inflation is on track and it seems to fall back to the Fed Reserve's 2% target by the end of the year. Similarly, the Consumer Price Index continued to cool last month to 2.9%, below the expected 3% yearly increase.

Indian Prime Minister Narendra Modi has expressed concern over the unrest that led to a change of government in neighboring Bangladesh and the attacks on Hindus and other minorities there

Wall Street is rallying following signals the U.S. economy is holding up better than expected

Official figures show that Britain’s economy continued its recovery from recession at the end of last year, with its GDP increasing by 0.6% between April and June

More debt-burdened Canadians think better days could be just around the corner after an interest rate cut and promising data boosted their outlook for the economy, a long-running survey of consumers suggests.

The developers of a long-delayed copper-nickel mining project in northeastern Minnesota have announced plans for a series of studies over the next year on potential ways to improve environmental safeguards and make the mine more cost- and energy-efficient

Japan’s economy grew at an annual rate of 3.1% last quarter, rebounding from the contraction in the previous quarter

Cyril Amarchand Mangaldas has been dominating legal industry headlines. Last month, the firm hired a team of more than 50 capital markets lawyers led by nine partners from smaller rival practice IndusLaw, depleting the latter firm’s capital markets offering entirely. Over the past two weeks, it has continued to aggressively hire partners laterally from competitors such as Luthra and Luthra Law Offices, Trilegal and S&R Associates. More hires will be made shortly, CAM managing partner Cyril Shroff told Law.com International, adding that new partners would be brought in to the firm’s banking and finance, private equity and corporate practices.

United States soared past analyst expectations in July, according to government data released Thursday, helped by the autos segment and bringing some relief to policymakers. US consumption has remained resilient despite high interest rates, and experts are closely monitoring if this continues to hold up until the central bank begins rate cuts. A weaker than expected labor market report recently sparked market turmoil, over fears that the world's biggest economy was in worse health than anticipated.

interest rates. Their hope was rekindled after Federal Reserve Chairman Jeremy Powell indicated a reduction in the bank rates in September. Many people believe it may happen earlier and the Fed may convene an emergency meeting to take a decision aimed at saving the US economy from slipping into a recession. However, Ed Yardeni, the president of Yardeni Research and a longtime Wall Street veteran believes there may be only one cut in this financial year and it may be as little as 25 basis points.