Economy Financial News

By Amanda Cooper

By Holger Hansen and Kirsti Knolle

By Jorge Otaola

In the middle of the afternoon on March 11, 2011, a major earthquake struck off the northeastern coast of Honshu, Japan’s main island, triggering a tsunami that sent a 40-metre-high wall of water cascading towards the coast. The inland surge from the tsunami washed away thousands of homes, devastating roads and knocking out power across much of the country. At the island’s Fukushima Daiichi nuclear plant, backup generating capacity was wiped away, too, and within days the plant fell into meltdown and began spewing toxic radioactive material into the environment, forcing the evacuation of thousands. The multi-pronged disaster, previously thought impossible, left more than 15,000 people dead and caused more than US$200 billion in damage, making it one of the most devastating in modern times.

Bank of Canada governor Tiff Macklem said policymakers may have done enough to tame inflation, reinforcing market and economist expectations that short-term rates have peaked.

Russia's parliament has approved a federal budget that increases spending by around 25% in 2024-2026 and devotes a record amount to defense

Shares are mixed in Europe and Asia after a modest advance on Wall Street that kept the market on track for a fourth straight weekly gain

Shares are mostly lower in Asia after a modest advance on Wall Street that kept the market on track for a fourth straight weekly gain

The number of Americans applying for unemployment benefits fell sharply last week, a sign that U.S. job market remains resilient despite higher interest rates

The oil and gas sector, one of the major emitters of planet-warming gases, will need a rapid and substantial overhaul for the world to avoid even worse extremes fueled by human-caused climate change

Pricing for the average new car continues to rise, with the latest reports pegging the average new vehicle transaction price around $48,000

Nirmala Sitharaman on Thursday said non-banking financial companies (NBFCs) and small finance banks need to heed the central bank and exercise due caution while lending, without “going too far too soon”. Speaking at the Digital Acceleration & Transformation Expo in the capital, organised by Trescon, the minister said: «Enthusiasm is good but sometimes it becomes a bit too far for people to digest. So as a measure of caution the RBI (Reserve Bank of India) has also alerted small finance banks, NBFCs to be careful that they don't go too far too soon and face any downside risks later.» Earlier this month, the RBI tightened the norms for unsecured consumer loans, as it directed banks and shadow banks to assign a higher risk weight to such credit.

The image of a presidential candidate destroying a model of the central bank with a sledgehammer will not leave Argentines' memories for a long time. But once President-elect Javier Milei is seated on the throne on Dec. 10, will he still have the courage to follow a winding and risky path?

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Narendra Modi on Thursday and said the Indian cricket team won all matches in the ICC World Cup 2023 except the one that was attended by "sinners". “The Indian team played so well that they won all the matches in the World Cup, except the one attended by the sinners," Mamata Banerjee was quoted by news agency PTI as saying, without naming anyone. Her statement came days after Congress leader Rahul Gandhi for calling PM Modi a “panauti (bad luck)", while speaking at a rally in poll-bound Rajasthan on Tuesday.

Mastercard, on Thursday, announced a collaboration with U GRO Capital to extend financing solution to small businesses in India that require financial support to maintain and grow their operations. This collaboration aims to address this challenge by enabling a holistic digital supply chain financing solution for millions of small businesses in India. MSMEs in India have long grappled with substantial challenges, including constrained access to capital.

Investing.com — The U.S. dollar retreated in thin holiday-impacted trade Thursday, with traders digesting recent economic data and what it potentially means for the Federal Reserve’s interest rate policy.

Investing.com — European stock markets edged higher Thursday, as investors awaited the minutes from the October ECB meeting as well as the latest regional business activity data.

By Natalie Grover