Economy Financial News

Israel has a major decision on its hands. It seems it will have to launch large-scale ground operations in Gaza. Major states cannot suffer a terrorist attack of this magnitude without significant consequences for the perpetrator.

By Lisa Richwine

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GST revenue is a robust barometer of the reform's success, Economic Advisory Council to the PM (EAC-PM) chairman Bibek Debroy said. In a working paper titled 'How the Pennies Drop: What GST revenue data tells us and What it doesn't', Debroy also proposed constructing a GST Rate Index to help track relative movements of the tax rates and get a sense of how it impacts tax collections and taxpayer behaviour.

Wells Fargo & Co. beat analysts’ expectations for net interest income in the third quarter and again raised its full-year guidance as the bank continues to benefit from higher interest rates.

The Biden administration has selected clean-energy projects from Pennsylvania to California for a $7 billion program to kickstart development and production of hydrogen fuel

JPMorgan Chase’s third-quarter profit soared 35% from last year, fueled by a rapid rise in interest rates, but the bank’s CEO, Jamie Dimon, issued a sobering statement about the current state of world affairs and economic instability

China's economy remains in the doldrums, with prices falling due to slack demand from consumers and businesses

China has reported its exports and imports both fell in September from a year earlier as global demand remained muted

The European Union’s top foreign policy official has warned that public sentiment in Europe could turn more protectionist if the bloc's trade deficit with China is not reduced

A decision on whether to authorize the use of the controversial chemical herbicide glyphosate in the European Union for at least 10 more years has been delayed after member countries failed to agree

Exactly one year ago, the S&P 500 bottomed on the short-term bear market, which led it to fall by more than 20% from January to October 2022. On the following day (October 14, 2022), stocks reversed, closing with a +2.60% gain, and did not look back since.

ROME (Reuters) — The Italian economy will grow by 0.7% in 2023 and by 0.8% next year, the country's central bank said on Friday, revising down previous forecasts made in July and warning of international and domestic downside risks.

Wells Fargo & Company (NYSE:WFC) shares rose more than 3% in pre-open Friday after the banking titan reported better-than-expected results for its third quarter.

Wells Fargo on Friday surpassed Wall Street expectations in third-quarter earnings and revenue as the benefit from higher interest rates offset slowing lending activity.

All year, Wall Street pros have been sinking record sums of cash into the world’s largest Treasury ETF in a high-conviction bet that interest rates have peaked. All year they’ve been wrong, with an estimated $10 billion loss — yet that’s not stopping a cohort of dip buyers braving the worst market drawdown in decades.

currency manipulators should be reviewed, said India’s central bank governor, who defended the need to buttress their economies from market swings. “There has to be a two-sided appreciation of the challenges” emerging markets face dealing with spillover effects of advanced economy policies, Reserve Bank of India Governor Shaktikanta Das said Thursday at the annual meetings of the International Monetary Fund and World Bank in Marrakech, Morocco. India was most recently on the US Treasury’s watchlist as a potential currency manipulator in late 2020 and was removed two years later. In its June update, Treasury didn’t label any major trading partner as a manipulator, however seven economies remained on its monitoring list including China, Germany and Switzerland. India’s central bank has been one of the most active dollar buyers in the market in recent years as it seeks to build reserves to fend off any speculative attack on the currency.

euro zone’s economy is increasingly falling behind America’s. As we report, the worst-suffering European economies are grappling with inflation of over 10%, rapid ageing, high public and private debts and exposure to autocracies. This week the IMF said the euro-zone economy would grow by only 0.7% in 2023.

International Monetary Fund (IMF) for the end of September and is comfortably placed to meet others such as net international reserves and net domestic assets, the bank said as quoted by Reuters. The remarks came in a statement on comments by central bank chief Jameel Ahmad during events on the sidelines of the meetings of the International Monetary Fund (IMF) and the World Bank meetings in Morocco. The Washington-based financial body will also send its delegation to cash-strapped Pakistan to review the country's economic performance in the first three months of the current fiscal year, PTI had earlier reported.

«We are trying to strengthen the capacity of our IPO to process these proliferation of applications. We are going to add 900 new positions for which recruitment is already underway in our patent office,» Singh said at the national intellectual property conference.

Taylor Swift and Beyonce raking it in with tours that are giving local economies a boost. Big-spending Swifties Swiftmania is at an all-time high, and it is leaping from the stadium to the cinema, where a film on Swift's Eras tour out Friday in over 100 countries worldwide has already clocked up more than $100 million in ticket pre-sales. The tour itself, which finishes in December 2024, is poised to become the first tour to make $1 billion.