Economy News

The European Commission announced on Wednesday that six leading tech firms, including Amazon, Alphabet, Apple, Microsoft, Meta, and ByteDance, are now labeled as "gatekeepers" under the new Digital Markets Act. This legislation introduces stringent regulations that could greatly impact the ...

At the IAA Mobility car show in Munich, Germany, two auto powerhouses, BMW and Mercedes, showcased their latest electric vehicles (EV) and plans for the future. They're stepping up their game in the electric car world, aiming to tackle competition ...

Consumer prices across the Eurozone's 20 nations held steady with a 5.3% year-on-year increase this August, as reported Thursday by Europe's official statistics agency. This inflation rate mirrors July's figures.Although core inflation, which excludes fluctuating costs like food and energy, ...

In a surprising move on Thursday, Turkey's central bank ramped up its interest rate to a whopping 25%, signalinga departure from the unconventional economic policies of President Recep Tayyip Erdogan.This unexpected 7.5 percentage point hike comes hot on the heels ...

European business activity witnessed a downturn in August, plunging to its weakest since November 2020, according to the data released Wednesday.The flash composite Purchasing Managers’ Index (PMI) for the euro zone took a dip, coming in at 47.0 in August, ...

In a notable dip, the UK's annual inflation rate for July hit its lowest in 15 months, anchored by a decrease in energy costs, and aligning with economists' predictions, recent official data revealed.The Office for National Statistics (ONS) reported Wednesday ...

In a striking blow to China's once-dominant property sector, Evergrande Group, once the nation's second-largest property developer, announced its bankruptcy filing in New York this Thursday.Having defaulted on its substantial debts in 2021, Evergrande's financial missteps ignited a property downturn ...

China's economy has hit a rough patch, signalingpossible global challenges. For nearly 20 years, China's economic surge has boosted the world's economy. So, if China's economic pace slows, the remainder of the world will feel its effects.According to the country's ...

The UK economy saw a small growth in the quarter ending June 30, thanks to sharp gains in manufacturing, as well as increased spending by consumers and the government.On Friday, the Office for National Statistics reported a 0.2% increase in ...

In a worrying economic shift, China's consumer prices last month fell for the first time in over two years, a telltale sign of the slowing economic recovery following the global pandemic. Recent figures reveal a deflationary trend that threatens to ...

Moody's is currently reviewing the credit ratings of six major U.S. banks, including Bank of New York Mellon, State Street, and Northern Trust, for a possible downgrade. The agency announced late Monday that this decision is due to ongoing strain ...

Last week was a rollercoaster for global markets. Investors in the United States and Asia were jolted by several worrying signs, including a downgrade of the U.S. credit rating, an increase in Treasury yields, and China's lack of a decisive ...

Global equities tumbled Wednesday following a decision by Fitch, the ratings agency, to reduce its credit score for the United States, highlighting "a consistent degradation in governance standards" and the mounting debt load of the US government.Japan's Nikkei 225 index ...

The euro-area economy is growing again. Gross domestic product across the 20 countries that share the euro currency rose by 0.3% in the second quarter, compared with the previous three months.GDP in the euro area had fallen by 0.1% in ...

In a move that stirred markets on Friday, Japan's central bank maintained its current interest rates, ignoring escalating inflation signs. However, it gave subtle indications toward a possible shift from its long-standing ultra-low interest rate regime in the future. This ...