Economy news

Argentina will not join BRICS under newly elected President Javier Milei. The country was previously set to join the inter-governmental economic organization comprising China, Russia, Brazil, India, and South Africa.Argentina received a formal invita...

The term may have been on the back burner recently, but economists have not stopped talking about their hopes for the U.S. to get a “soft landing” after the economic turmoil of prolonged high inflation.November’s solid jobs report did nothing to dama...

The DAX, Germany’s benchmark stock index, reached an all-time high on Wednesday as investors grew in confidence that interest rates will soon be cut.On Tuesday, the DAX closed at a record high of 16,533 points. That peak was beaten the following day...

Gold prices hit a fresh record on Monday for a second day in a row — with spot prices hitting $2,100 as the global rush for gold continues.Gold prices are on track to hit new highs next year and could stay above $2,000 levels. Economists cite geopoli...

Robinhood is under attack for its use of the controversial payment for order flow (PFOF) model of market-maker routing. The company uses this model in its flagship U.S. operation.Consumer trading advocates and regulators have called for a ban on the...

Annual inflation in the euro zone slowed substantially to 2.4% in November from 2.9% in October, according to initial figures on Thursday. Economists, who had broadly penciled a reading of 2.7% as a good news story, welcomed the surprise fall.Core in...

India is aiming to grab a bigger piece of the global pharmaceutical market and challenge China as the world’s pharmacy. India’s pharma market is the third largest in volume across the globe, and the 14th largest in value.However, it is poised for mor...

The U.S. economy is giving mixed signals, although the news of reduced jobless claims is a welcome boost to the world’s biggest economy. Jobless claims totaled209,000 in the week ended November 18, which was 24,000 less than in the previous week, acc...

In a sign of the growing race for electric vehicle supremacy, Nissan will inject $1.4 billion into its British plant to build two major EV models.The Japanese automaker said last week that its plans for electric versions of the Qashqai and Juke would...

Turkey's central bank this week surprised the marketswith a bigger-than-expected interest hike as it revved up its battle against inflation as it tries to support the slumping lira.The central bank hiked its policy rate by 5 percentage points to 40%,...

Worldwide smartphone sales climbed in October after falling for 27 straight months on a year-on-year basis. Led by a recovery in emerging markets, retail sales volumes grew 5% year-on-year in October.Huawei has also made a comeback in China, clocking...

So far this year, OPEC+ members have reduced operating oil capacity by over 5 million barrels per day. This equates to roughly 5% of global production.OPEC+ is mulling additional supply cuts, to be discussed at its next meeting. The move is being con...

The victory of political outsider Javier Milei in Argentina’s presidential ballot has serious repercussions for the country’s struggling economy, including the embattled peso.A libertarian and former financial analyst who campaigned on a vow to drast...

The European Commission this week tempered its eurozone growth expectations for 2023 and 2024, saying the high cost of living and interest rates were dragging down consumers and businesses.It adjusted its 2023 growth forecast to 0.6%, removing 0.2 pe...

South Korean auto giant Hyundai Motor has started construction on a $1.5 billion mega factory in that country that will produce only electric vehicles.The group, which owns the Hyundai and Kia brands, conducted a much-publicized groundbreaking ceremo...