Economy news

Investors were looking for clues on the future directionof interest rates and eagerly awaited data that could shed light on the state of the economy, leading to an increase in shorter-term Treasury yields on Friday.The 2-year Treasury yield experienc...

In its latest medium-term market report, the International Energy Agency (IEA) has predicted that global oil demand will trickle nearly to a halt by 2028.The agency forecasts that global oil demand will rise by 6% from 2022 to reach 105.7 million bar...

Toyota’s stock price spiked 5% Tuesday after the company announced it will introduce a full lineup of battery electric vehicles with “next generation” batteries from 2026.Manufactured in a new plant named BEV Factory, the company is aiming to produce...

Factories in the United States and the eurozone experienced a decline in new orders for manufactured goods in May as they worked through a backlog of orders, creating uncertainty about the manufacturing industry globally.In the US, the manufacturing...

General Motors (GM) has joined forces with Tesla, following in the footsteps of its crosstown competitor, Ford Motors. This partnership sees GM leveraging Tesla's national charging network.Starting next year, GM drivers can use Tesla's extensive inst...

Meta finds itself facing a potential threat to its business from a familiar foe: Apple. Just months after Apple's privacy change threatened Facebook's advertising model, the social networking giant shifted its focus to virtual reality and rebranded a...

Despite persistent recession fears, continued interest rate hikes, a spending slowdown, and a housing crunch, US stock markets are on the edge of bull market territory.The S&P 500 has recently experienced a strong rebound, climbing nearly 20% fro...

Chipmaker Nvidia has achieved a major milestone, joining the ranks of such top companies as Apple, Microsoft, Alphabet and Amazon by briefly passing a $1 trillion market cap last week. This achievement sets Nvidia apart as one of the select few compa...

This week, the Labor Department confirmed that the U.S. economy continued its robust job creation in May, surpassing expectations despite facing various challenges. Both public and private-sector payrolls experienced a significant surge of 339,000, o...

China's small and medium-sized factories showed encouraging signs of expansion last month. This unexpected growth has reduced market concerns about potential economic stagnation in the world's second largest economy. Although Beijing's economy is rec...

U.S. Treasury bonds declined on Wednesday as investors grew concerned about the impending debt ceiling bill, on which the House of Representatives was set to vote later in the day. Additionally, market participants eagerly awaited crucial jobs data....

Economic growth in the eurozone experienced a slight decline in May, reaching a low point not seen in three months. This downward trend can mainly be attributed to a decrease in industrial production.Although growth within the 20-country region manag...

Heavy layoffs are continuing to hit the tech sector. This week it is expected that job cuts will cross 200,000 after Meta removes thousands of employees in its latest round of planned layoffs.Industry sources estimate that a total of 696 tech compani...

Pakistan has been torn by unrest since former Prime Minister Imran Khan was arrested earlier this week, complicating efforts to secure a financial lifeline from the IMF that promised to alleviate the country's worsening economic crisis. Indeed,...

The University of Michigan has released a study indicating that the US inflation expectation index for the next five to 30 years has breached a 12-year upper mark of 3.2%.In related news, the consumer sentiment index fell to 63.5, contrasted to a pre...