Economy News

According to probability models run by Ned Davis Research, there is currently a 98.1% chance of a global recession. The only other times its recession model was this high was during severe economic downturns, most recently the pandemic in 2020 ...

US bond yields leapt this week after another significant rate hike from the Federal Reserve. The two-year treasury yield climbed to 4.3%, a 15-year high, and the 10-year treasury breached 3.9%, a level not seen in 11 years.The two-year treasury ...

UK authorities are trying to soothe financial markets after plans by new Prime Minister Liz Truss to cut taxes while increasing borrowing caused alarm among investors concerned it could fuel inflation further and upend government finances.The Bank of England (BOE) ...

Ties between China and Russia are deepening, with Chinese trade providing Moscow with an economic lifeline as it faces international isolation over its war in Ukraine.China imported 8.54 million tons of Russian coal in August amid increasing energy demand driven ...

Following the end of pandemic-era support measures, the number of companies in the UK that declared insolvency last month was 42% higher than before the advent of COVID-19.Insolvencies dropped markedly during the pandemic, as the British government underwrote some $91 ...

An increasing number of analysts are predicting that persistently high inflation will force the Federal Reserve to resort to the biggest increase in a key US interest rate in more than 40 years.At the last two meetings, the US Fed ...

India, the third-largest economy in Asia, saw its GDP grow by 13.5% in the April-June quarter from a year earlier. This marks the fastest pace of growth in a year and comes amid concerns of growth slowing due to increased ...

When Western countries imposed a raft of sanctions on Russia earlier this year, after it invaded Ukraine, it was believed these punitive measures would have a devastating effect on the country’s economy.However, results have thus far been mixed. On one ...

Germans affected by Europe’s gas crisis are scrambling to get solar panels installed in their homes and businesses.So far this year, Germany has seen a 22% jump in the installation of solar systems compared with the same period last year. ...

US Carmaker Ford is cutting 3,000 corporate jobs as it prepares to shift from traditional internal combustion engine vehicles to electric vehicles (EV).Announcing the news, Ford CEO Jim Farley said, “Building this future requires changing and reshaping virtually all aspects ...

Europe’s economy is facing the strain of energy rationing, record inflation, and tighter monetary policy. With a round of purchasing managers’ indexes slated to arrive this week, analysts expect to see a contraction in private-sector output for a second month, ...

Major US retailer Target reported a significant profit decline of 90% in the second quarter, as inflation-hit consumers pulled back on spending on all but the most essential items. Target's quarterly net income fell to $183 million, down significantly from ...

China's central bank cut interest rates this week for the first time since January, as the economy lost steam due to renewed COVID-19 lockdowns and a brewing property crisis.The People's Bank of China reduced the main rate at which it ...

After receiving approval from the US Congress, American President Joe Biden is preparing to sign a bill allocating $369 billion for climate and energy funding into law.Investors have not been slow to climb the bandwagon and have already sunk $425.5 ...

Spanish consumer prices have shot up at the fastest pace since September 1984, as inflation in the EU continues to break new records. Inflation in Spain reached 10.8% year-on-year for July, a jump from its level of 10.2% in June. ...