Economy News

European stock markets rebounded strongly after facing losses earlier in the week, following the release of U.S. Consumer Price Index (CPI) data. Despite opening lower on Thursday, with France's CAC 40, Germany's DAX, and London's FTSE 100 all in the ...

No sooner had Chinese EV makers started to make headway in Europe than the European Union announced that it would impose higher tariffs on Chinese EVs, citing unfair subsidies that threaten the EU's EV industry. The EU bloc concluded that Chinese ...

Several European countries, including Hungary, Poland, Italy, and Spain, are intensifying efforts to attract Chinese electric vehicle (EV) manufacturers by offering lucrative incentives. The European Commission has expressed concerns about the increasing number of affordable Chinese EVs entering the market. However, ...

In a significant shift in monetary policy, the Bank of Canada (BoC) has reduced its key policy rate by 25 basis points to 4.75%, marking the first rate cut in four years. Many anticipated this decision, which comes as the bank ...

Despite the OPEC+ alliance's announcement of extended supply cuts, oil prices have plunged below $80 per barrel. The Ice Brent contract for August closed at $77.59, slightly up by 7 cents from Tuesday's close, while the Nymex WTI front-month contract ...

First, Microsoft and Amazon announced major investments in Southeast Asia. Now, Google has committed $2 billion to establish its first data center and "cloud region" in Malaysia, aiming to bolster the country's digital infrastructure. This significant investment is expected to enhance ...

As the market anticipates the upcoming OPEC+ virtual meeting on Sunday to review production policy, U.S. crude oil prices have climbed more than 1%. OPEC+ members are currently withholding 2.2 million barrels per day from the market to support prices. Analysts ...

With less than six weeks until the UK General Election, analysts are eyeing the potential impact on the stock market, especially with polls suggesting a potential return of the center-left Labour Party after 14 years. Should Labour win, displacing the ...

Seoul is implementing reforms to address the 'Korea discount,' which has long depressed the valuations of its companies. Now, a growing number of Koreans, many young, are investing in stocks.From 2022 to 2023, Korea’s stock market capitalization rose by 23.1%, ...

Generative AI's growing popularity is creating significant energy challenges. AI systems powered by large language models (LLMs) are incredibly energy-intensive and require substantial computational resources. A recent study indicates that generative AI might consume up to 33 times more energy than ...

China's ongoing property crisis, which began in 2021, has prompted significant interventions by Chinese authorities to stabilize the sector and mitigate its impacts on the world's second-largest economy. The People's Bank of China (PBOC) announced a $41.5 billion facility to support ...

Copper prices are approaching record highs as demand driven by renewable energy, electric vehicles, and artificial intelligence continues to grow. Year-to-date, copper prices have surged by 29%, with futures reaching $5 per pound as of May 15, the highest level ...

The Bank of England (BOE) is cautiously preparing for a summer interest rate cut, anticipated as early as June, though more likely by August or September, as signs point towards an easing inflationary trend. Currently, interest rates stand at 5.25%, a ...

Since assuming office five months ago, Argentina's President Javier Milei, a right-wing economist with a TV pundit background, has implemented severe austerity measures to reverse the country's financial decline marked by excessive government spending and debt accumulation. Despite Milei's claims that ...

European Union (EU) leaders, including Commission President Ursula von der Leyen, advocate for fairer trade relations with China, emphasizing the need to address current market access imbalances. During a significant meeting in Paris with Chinese President Xi Jinping, which also involved ...