Economy news

The eurozone’s annual inflation climbed to 7% in April, a surprising development after the reading fell for five consecutive months.Although the increase was small, 0.1% up from 6.9% in March, analysts feel it could be enough to prompt the European ...

JPMorgan Chase has announced that it is buying most of the assets of First Republic Bank, confirming the second-largest bank failure ever in the US.The US government invited several leading US banks to make offers to take over the assets ...

Amazon, Microsoft and Google Face Cloud Revenue CutsEarnings data from Amazon, Microsoft and Google last week showed that clients are still looking for ways to curb their spending on cloud costs.Year-on-year growth at Amazon Web Services slowed to 16% from ...

The US economy weakened noticeably in the first quarter, measured from January through March. The US Department of Commerce released figures showing that, over the period, the economy slowed to an annual pace of just 1.1%, a marked deceleration from ...

Investors on Wall Street expressed relief as Google-parent company Alphabet joined Microsoft in beating market earnings expectations. Alphabet reported a 3% total year-on-year revenue increase, while Microsoft reported a near 9% bump. After a disastrous year for both stocks, their shares ...

Microsoft reported an earnings boost this week that had positive effects on the firm’s stock price. Shares of the company climbed 9% in Tuesday’s trading after the technology giant reported third-quarter results that exceeded most analysts’ predictions.Microsoft’s earnings per share ...

The troubles affecting the global banking sector may have faded into the background, but that does not mean the effects of recent disruptions are no longer evident. Credit Suisse said on Monday that $68 billion in assets have left the ...

UK inflation stayed above 10% in March, much higher than inflation in the US and Europe. Food prices climbed sharply, with bread prices rising at a record pace.Consumer prices in the third month of the year climbed 10.1% compared to ...

Apple Inc has partnered with Goldman Sachs to launch a new high-yield savings account that offers a 4.15% interest rate, more than 10 times higher than the US national average. The move is the latest sign that the technology giant ...

Tesla CEO Elon Musk said on Sunday that the electric automaker had now produced three million cars during its lifetime. The first-ever Tesla rolled off the line in 2009. The model, known as the Roadster, initially cost about $109,000. Today, ...

US annual inflation based on the Consumer Price Index (CPI) dropped in March for the ninth consecutive month. Prices climbed just 5% for the 12 months ending in March, a drop from a reading of 6% in February.Annual CPI slid ...

All five of the world’s largest computer makers – Apple, ASUS, Dell, HP and Lenovo – reported double-digit falls in first-quarter shipments, reflecting weaker demand and persistent inventory woes. Apple’s decline was the biggest, falling more than 40%. The company’s worldwide ...

Job growth in the US came in line with market expectations, as non-farm payrolls grew by 236,000 for March, compared to the Dow Jones estimate of 238,000. Unemployment ticked lower to 3.5% in response to an increase in labor force ...

In March of this year alone, nearly 120 tech firms globally, including the likes of Meta, Apple and Amazon, implemented layoffs across various departments. Mass layoffs across the tech industry had already kicked off last year as a broader economic ...

Asia is expected to benefit from strong economic growth this year after China’s dropping of harsh pandemic curbs. The Asian Development Bank (ADB) predicts that economies in Asia and the Pacific will expand by 4.8% in 2023 and 2024, up ...