Economy news

General Motors (GM) has joined forces with Tesla, following in the footsteps of its crosstown competitor, Ford Motors. This partnership sees GM leveraging Tesla's national charging network.Starting next year, GM drivers can use Tesla's extensive installation of 12,000 fast chargers ...

Meta finds itself facing a potential threat to its business from a familiar foe: Apple. Just months after Apple's privacy change threatened Facebook's advertising model, the social networking giant shifted its focus to virtual reality and rebranded as Meta. However, Apple ...

Despite persistent recession fears, continued interest rate hikes, a spending slowdown, and a housing crunch, US stock markets are on the edge of bull market territory.The S&P 500 has recently experienced a strong rebound, climbing nearly 20% from its lows ...

This week, the Labor Department confirmed that the U.S. economy continued its robust job creation in May, surpassing expectations despite facing various challenges. Both public and private-sector payrolls experienced a significant surge of 339,000, outperforming the estimated 190,000 new jobs ...

China's small and medium-sized factories showed encouraging signs of expansion last month. This unexpected growth has reduced market concerns about potential economic stagnation in the world's second largest economy. Although Beijing's economy is recovering from the impact of the COVID-19 ...

Economic growth in the eurozone experienced a slight decline in May, reaching a low point not seen in three months. This downward trend can mainly be attributed to a decrease in industrial production.Although growth within the 20-country region managed to ...

Heavy layoffs are continuing to hit the tech sector. This week it is expected that job cuts will cross 200,000 after Meta removes thousands of employees in its latest round of planned layoffs.Industry sources estimate that a total of 696 ...

Pakistan has been torn by unrest since former Prime Minister Imran Khan was arrested earlier this week, complicating efforts to secure a financial lifeline from the IMF that promised to alleviate the country's worsening economic crisis. Indeed, the country is gearing ...

The University of Michigan has released a study indicating that the US inflation expectation index for the next five to 30 years has breached a 12-year upper mark of 3.2%.In related news, the consumer sentiment index fell to 63.5, contrasted ...

Leisure and hospitality businesses in the US are bouncing back after the pandemic, with booking activity approaching pre-COVID 19 levels.Despite many economists predicting a recession later this year, hospitality demand has been robust. This is positive news for a sector ...

Pakistan has been torn by unrest since former Prime Minister Imran Khan was arrested earlier this week, complicating efforts to secure a financial lifeline from the IMF that promised to alleviate the country's worsening economic crisis. Indeed, the country is gearing ...

On Thursday, the Bank of England (BOE) increased interest rates by 0.25 percentage points in its effort to combat out-of-control inflation. The decision marks the 12th consecutive interest rate hike, bringing the main borrowing rate in the UK to 4.5%, ...

The White House and Republicans in Congress are locked in a standoff over the US debt limit. The debt ceiling is the maximum amount of money Congress allows the federal government to borrow to cover its bills. Treasury Secretary Janet ...

The US labor market gained 253,000 jobs in April, a surprising increase at a time when manyexpected a slowdown in the job market.The unemployment rate slid to 3.4% — matching a half-century low hit in January — from 3.5% the ...

US Federal Reserve Chairman Jerome Powell has announced that the central bank has hiked interest rates for the 10 th straight time since March 2022. However, he indicated that a pause in rate hikes may be imminent under the right ...