Economy news

US Treasury yields rose this week as investors waited for new economic data and braced themselves for additional interest rate hikes by the Federal Reserve.The yield on the benchmark 10-year treasury climbed by seven basis points to 4.066%. The two-year ...

Tesla CEO Elon Musk, fresh from regaining his position as the world’s richest man, presented his “Master Plan 3” to investors. Among the topics Musk covered included how Tesla plans to scale its sales and operations, as well as how ...

There is growing evidence that market participants, policymakers and even a few economists have been hasty to declare victory on behalf of the US Federal Reserve in the fight against inflation.Now, an increasing number of economic data releases are giving ...

People born between 1981 and 1996, commonly referred to as millennials, have accumulated record-high debt of more than $3.8 trillion at the end of 2022, up a whopping 27% from 2019.During the COVID-19 pandemic, household debt was flat as government ...

Meta Platforms Inc said this past week it was releasing a new large-language model, the main software behind its artificial intelligence (AI) system. It signals a heating up of the AI “arms” race as technology companies scramble to integrate AI ...

Hong Kong’s COVID-ravaged economy will return to positive growth territory this year and expand by between 3.5% and 5.5%, as the city opens up and its major trading partner China’s economic prospects improve.The Asian financial hub was buffeted by a ...

January retail sales in the US jumped by the most in almost two years, after two straight monthly declines. According to the Commerce Department, retail sales bolted 3% last month, the biggest increase since March 2021.Data reveals that American consumers ...

The tech industry is reeling from an economic downturn, with many major firms announcing significant layoffs. With two months of 2023 yet to be completed, 108,346 employees from 380 tech companies have been cut in widespread layoffs. This figure already ...

The UK’s annual inflation rate slid for a third month in a row, with January’s figure relieving pressure on the Bank of England (BOE) to raise interest rates, even though inflation remains in double digits and is close to the ...

The Consumer Price Index (CPI) in the US climbed 6.4% in January from a year ago.  This reading showed a marginal slowdown from December's figure, making it the smallest annual increase since October 2021.A rebound in rent and gasoline prices ...

Returning Brazilian President Luiz Inácio Lula da Silva has once again raised his concerns about Brazil's benchmark interest rate level, which stands at 13.75%, claiming it is a major drag on the country’s growth prospects.Elected on promises of greater national ...

China’s economy will expand by 5% in 2023, according to ratings agency Fitch, an improved forecast from the growth forecast of 4.1% the agency had made in December.New data reveals that consumption and activity in China are recovering faster than ...

US treasury yields jumped higher last Friday after a report showing that job growth surged in January, further exacerbating the Federal Reserve's attempts to soften the labor market to bring inflation down.The yield on 10-year treasury notes was up 12 ...

Apple, the world’s most valuable brand, missed expectations for revenue and profit for the holiday quarter. Overall sales were about 5% lower than the year before, the first year-on-year sales decline since 2019.  Explaining the results, CEO Tim Cook attributed ...

The EU this week unveiled plans for its “Green Deal,” a package designed to cut red tape and deliver tax breaks to companies adopting net-zero technologies. Europe’s plan comes in response to the Biden administration’s massive green subsidy program.The proposals ...