Economy Financial News

President Joe Biden on Monday issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base, calling its proximity to the base a “national security risk.”

Most countries in the European Union are making efforts to “de-risk” their economies from perceived threats posed by China

Stocks drifted on Wall Street, leaving the market hovering just below the record high it set in late March

Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again

Home Depot’s sales continued to soften in the first quarter as the nation’s largest home improvement retailer not only was constrained by high mortgage rates and customers dealing with inflation concerns, but it also had to deal with a delayed start to...

Federal grants can be a huge boost for small businesses

The International Monetary Fund, Argentina’s biggest creditor, has agreed to release the next tranche of loans due under a bailout program

Bolvin Wealth Management Group President Gina Bolvin discusses the move in commodities, expected inflation data, the housing industry and her outlook for consumers.

Ottawa’s changes to the capital gains tax appear to have gotten under the skin of Canada’s wealthiest wage group, an ongoing poll that tracks the financial outlook of Canadians suggests.

Canada ranks among the countries hardest hit by higher interest rates in the developed world, but a new report says it didn’t have to be that way.

election result periods. The convergence of conducive reforms has been a key driver, underscoring the potential for positive returns regardless of the political landscape. Since 2014, India has witnessed political stability under the BJP's majority rule, and now amid the national elections, political continuity remains the anticipated trajectory.

US tech stocks are not only a bet on innovation but also a possible hedge against inflation, according to some respondents in the latest Bloomberg Markets Live Pulse survey. Gold, the haven of choice for decades, is still seen as the best safeguard against the risk of rising prices, according to 46% of survey participants. But nearly a third said the tech behemoths are their first pick for the role.

Aluminum products maker Novelis, owned by Indian conglomerate Aditya Birla Group's Hindalco Industries, made public its filing for an initial public offering in the United States on Monday. The company is moving ahead with a listing at a time when the U.S. IPO market is on a rebound this year, after a two-year lull, on hopes of a «soft landing» for the economy, where inflation falls without a recession or big job losses.

The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this year

U.S. stocks drifted to a mixed finish, remaining near their record heights

Dozens of Republican attorneys general are suing the Biden Administration and California over new limits on truck emissions

China's finance ministry plans to start raising 1 trillion yuan in long-awaited, long-term special treasury bonds this week to raise funds it will use to stimulate key sectors of its flagging economy. The finance ministry confirmed what four sources had told Reuters earlier on Monday that the 1 trillion yuan ($138.23 billion) of special government bonds would have tenors of 20 to 50 years and issuance will begin on May 17. The sources who have direct knowledge of the plans said 300 billion yuan worth of 20-year bonds, 600 billion yuan worth of 30-year bonds and 100 billion yuan worth of 50-year bonds would be issued.

bailout program, endorsing government austerity measures so severe they even surpass the terms of its $43 billion loan. The IMF deal follows the completion of its review of Argentina's compliance record and confirms the next $792 million payment will become available to the government in June, reassuring markets and boosting confidence among bankers about Argentina’s prospects as it goes through its worst economic crisis in two decades.

₹10 lakh bracket, but the product has to be right." Banerjee said Maruti has "made significant investments" in the entry-segment too, like upgrading the K10B engine to K10C, which powers the Alto K10 and Celerio models. “If many of our competitors feel SUVs is the bigger segment, we feel there is an opportunity in hatchbacks also as India's economy grows", he said. Hatchbacks fetched 45% to Maruti's overall sales in FY24, and nearly 50% in April this year.

Knight Frank released its report, 'Think India Think Retail 2024'. It has an ominous warning for shopping malls across the country. 'Ghost shopping malls with vacancy rates of 40% or more rose from 57 in 2022 to 64 in 2023 across eight major cities, with larger shopping centres preferred for an outing, and online shopping taking away some old retail charms,' states the report. There was a 238% y-o-y increase, it added, in the gross leasable area (GLA) of all shopping centres in prime Indian markets in 2023, even as ghost malls rose in number. Big retail in India needs reinvention. The mall as a massive real estate complex is an American idea that goes back to a combination of consumer boom, timescape, landscape and culture that suited the West rather than India. Mall culture is changing in the West itself. If an American works five days a week, with kids to raise and without help at home in sparsely populated cities, the mall may still be the place to catch a movie or for shopping. However, land costs and rentals were not real issues in the US, compared to disposable incomes that generated suitable demand.

card game is helping investment agencies in China stay afloat as US investment towards the world's second-largest economy led by President Xi Jinping, keeps falling through the cracks due to a recent executive order by current US President Joe Biden. The executive order signed by US Prez Biden back in August 2023, restricts American investment in China in significant sectors including artificial intelligence, quantum computing and other technology-based services. This has led to a void for Chinese companies and investment agencies as they are looking at raising funds to keep themselves afloat as the US investments keep pulling out. However, card game, Guandan, also known as 'throwing eggs' has come to the rescue of the Chinese, according to an NBC report.