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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 and th...

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 yield...

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...

The British pound crashed to a new record low against the US dollar of $1.035 on Monday, freefalling more than 4%. The previous record low for the British pound against the US dollar was 37 years ago, when one pound was worth $1.054.The fall came dur...

The Bank of Japan (BOJ) has been acting as a lone dove this year as other major global central banks aggressively hike rates to contain surging inflation.Continuing on a long-held monetary policy course, the BOJ steered clear of intervening to direct...

The US Federal Reserve has raised its key interest rate by a substantial three-quarters of a point for a third straight time.The Fed’s move pushed its benchmark short-term rate to 3.25%, the highest level since early 2008. The central bank also signa...

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 d...

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 u...

The British pound plunged to a 37-year low this past Friday after new data showed consumers haveslowed spending, raising fears that the economy may already be in a recession.The currency fell below $1.14, a level not seen since 1985. Retail sales in...

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 raised the targeted...

US stocks dipped at the end of Wednesday's trading as meeting minutes from the last Federal Reserve sit down confirmed the extent to which the American central bank wants to reduce stimulus. The Dow closed the session down 1.1% while the S&...

The IMF reduced its projections for global growth to 4.4%, down by 0.5%, which is significant in global terms. In particular, the group said the world’s number one and two economies, the US and China, would grow more slowly than anticipated as...

The Turkish Statistical Institute recently shared a report showing that Iranians make up the largest group of foreign buyers of residential property in Turkey. In March of this year alone, Iranians purchased 784 homes, beating the number of proper...

The US is on the verge of selling crude oil to the OPEC market from its emergency stockpile as part of a plan to slow soaring energy prices. Known as an oil “swap,” the US Strategic Petroleum Reserve (SPR) will release an unconfirmed q...

The 2021 United Nations Climate Change Conference, also known as COP26, has seen politicians from several countries make ambitious pledges to reduce greenhouse emissions.  Scores of world leaders signed a pledge to slash potent climate heatin...

As cryptocurrencies continue to rise in value and popularity, with Bitcoin breaking the $66,000 mark on Wednesday, there is growing dislike of these currencies in the US and internationally. Indeed, no one detests cryptocurrencies like Warren Buffett...

With inflation at a 31-year high and a 26-year record in the US and China, respectively, gold is not providing the protection it usually does. Gold Exchange-Traded Funds (ETF) are lagging. The SPDR Gold Trust (GLD), with $56.1 billion in assets, i...

With trading sessions for the week starting November 8 now into their second day, here are the top five things to watch in markets.   US September-Quarter  Earnings Season Expect to see reports from a number of blue-ch...

The UK is facing 10-year high inflation levels. With the US facing 31-year highs and China facing 26-year records, tackling inflation is on everyone’s agenda. Britain could be the first major economy to hike interest rates. Fueled by higher...

Russia’s Nord Stream 2 gas pipeline faced fresh commissioning delays as crucial approval from the German regulator was further delayed this week.  European gas prices rose sharply on the back of this news, as the pipeline is now only ex...

The British pound crashed to a new record low against the US dollar of $1.035 on Monday, freefalling more than 4%. The previous record low for the British pound against the US dollar was 37 years ago, when one pound was worth $1.054.The fall came dur...

The Bank of Japan (BOJ) has been acting as a lone dove this year as other major global central banks aggressively hike rates to contain surging inflation.Continuing on a long-held monetary policy course, the BOJ steered clear of intervening to direct...

The British pound plunged to a 37-year low this past Friday after new data showed consumers haveslowed spending, raising fears that the economy may already be in a recession.The currency fell below $1.14, a level not seen since 1985. Retail sales in...

The embattled euro has fallen below $0.99 – a new two-decade low – after Russia stopped gas supplies to Europe, heightening fears of a deep energy crisis across the continent.The euro has lost 20% of its value in the past three months. Europe is desp...

The Japanese yen has fallen to a 24-year low against the dollar as investors brace for higher US interest rates.One dollar is now worth more than 140 yen for the first time since 1998, as the greenback continues its period of strength against most ma...

US companies added more than double the number of jobs forecast for July, revealing strong labor demand that tempered recession fears and suggested the Federal Reserve will continue to use steep interest rate hikes to combat out-of-control  infl...

Argentina’s new Economy Minister Sergio Massa has pledged to stop printing money that helps fuel runaway inflation. With the country facing a deepening economic crisis, Massa became the third economic minister in a month.  He inherits t...

The euro was still jittery in this week’s trading after its steepest plunge in two weeks, as a disruption in Russian gas supplies sent energy prices soaring. The euro fell about 1% to $1.0108 overnight, its biggest fall since early July. Eur...

The Indian rupee has fallen more than 7% in 2022, adding to inflationary pressure and destroying margins for importers in this otherwise import-dependent country.  The rupee stands on the threshold of 80 to a US dollar and may soon fall furth...

The Reserve Bank of Australia (RBA) has said that interest rates will need to be raised much higher to calm red-hot inflation, despite recent rate hikes. The central bank sees the prevailing benchmark rate of 1.35% as being “well below&rdquo...

Recent events suggest Bitcoin may be primed for an upswing. The world’s largest cryptocurrency rose a day before the release of the latest US inflation reading.Bitcoin was recently trading at about $22,200, up almost 2% over the past 24 hours. The to...

Just a few months after laying off 9% of its staff members, once high-flying crypto firm Robinhood on Tuesday announced plans to cut another 23%. The latest cuts, which will affect almost 800 employees, continues the fall from grace of the online...

Cryptocurrencies have suffered a tough year, with all segments of the industry shedding significant value. Bitcoin, the world's biggest crypto, making up about 42% of the total market, lost more than half its value in 2022 and is now hovering aro...

The US Treasury has asked President Biden to work with international allies on regulating cryptocurrencies. In a memorandum to the president, the US Treasury called upon the Biden administration to develop global standards for digital payments and...

Bitcoin is set for its worst quarter since the end of 2011, as more central banks tighten money supply and crypto firms fall like dominoes. A quarterly drop of 58% represents the largest fall in value since Bitcoin was in its infancy. In the years...

Bitcoin plummeted below $20,000 for the first time since December 2020. Ether dropped to $1,000 and fell almost 11% to $975.24, its lowest level since January 2021. The two bellwethers of crypto are both roughly 70% lower than all-time highs set late...

Bitcoin continued to plunge this week to trade at just above $20,000, as the oncoming crypto winter shows little sign of slowing.  The world's biggest cryptocurrency has fallen by nearly a third since last Friday. The coin has lost around...

The crypto industry in the US welcomed new bipartisan legislation introduced to regulate it. The bill was tabled by Senators Cynthia Lummis and Kirsten Gillibrand and represents the first concrete step toward finally regulating the sector. Analyst...

Bitcoin tumbled back under $30,000 to its lowest price in a week, as another short surge of upward momentum lost steam amid market caution. Although the world’s largest cryptocurrency showed promising signs last week, rising to over $31,400...

Bitcoin was showing signs of recovery after being marooned below the key $30,000 level for the past week. Other major cryptocurrencies followed suit. The market’s largest cryptocurrency climbed as much as 4.4% to $30,441.43 at one point. Bit...

Power prices in Europe are breaking records, solidifying the sense of crisis in the region, and spreading fears about possible power shortages as winter looms.Power prices in Germany, which usually represent the benchmark for the remainder of the con...

Economic activity in Europe tumbled for a second consecutive month in August, as high inflation fueled by Russia’s war in Ukraine sours the outlook.The S&P Global Flash Eurozone Purchasing Managers Index (PMI) slumped to its lowest level in 18 mo...

The EU has revealed plans to ration gas to member countries as the world watches to see if Russia cuts the flow of natural gas to the continent. The EU has asked its 27 member states to reduce their gas demand by 15% between August and March next...

For the first time in nearly two months, crude oil prices have dipped below $100 a barrel, reflecting increasing investor worries about a global recession that could throttle demand for energy. The price of West Texas Intermediate (WTI) crude slid...

Ryanair CEO Michael O'Leary has warned that the current low-cost carrier model is unsustainable as aviation costs continue to rise.  Citing sky-rocketing fuel prices and gradually increasing sustainability levies, the airline boss predict...

In what is a record high, the average price of a gallon of regular unleaded gas hit $5 across the US last week. The high fuel price is expected to last through the summer driving season, which is when driving levels are at their peak.  The su...

In April, China's monthly imports from Russia hit a record high of US$8.9 billion. This was an increase of 57% from the year before and 13% higher than March. At face value, it may appear that China is importing more from Russia, but soaring c...

In another blow to the embattled US economy, prices at the pump climbed to new record highs. The national average price for regular gasoline soared more than four cents on Tuesday to $4.37 a gallon, beating the prior record of $4.33 set in early Marc...

The European Commission has proposed a sixth round of sanctions against Russia over its attack on Ukraine. The new restrictions include a plan to phase out all crude and oil products by the end of the year. Sanctions have so far not affected Russi...

Indonesia, which is responsible for producing 60% of the world’s palm oil, has banned exports of the product due to inflation and supply concerns. The export ban has ratcheted up the pressure on worldwide prices of food and cooking oil, whic...

Asian stock markets have been shaken by growing tensions between the US and China over US House of Representatives Speaker Nancy Pelosi’s anticipated visit to Taiwan. Markets across the region weakened on Tuesday amid expectations Pelosi wou...

The first half of the year has been difficult for investors, as stocks fell, cryptocurrencies tanked, and even the supposedly less risky bond market wobbled. That bond slump is especially bad news for conservative investors, like retirees living o...

In a widely expected move, the US Federal Reserve raised interest rates by three-quarters of a percentage point in the largest single rate hike since 1994. With this aggressive attempt to tackle scorching inflation, policymakers hope to help an ec...

The 10-year US treasury bond yield surged to its highest level in 11 years, as investors mulled the likelihood of the US Federal Reserve taking even more aggressive steps to tame inflation. The yield on the all-important 10-year treasury note clim...

The Biden administration has announced new trading restrictions that prohibit Americans from investing in Russian stocks and bonds. The ban is immediate and is another measure put in place by US authorities to ratchet up the financial pressure on...

Ford has announced a massive $3.7 billion investment to ramp up production of electric trucks and vans, as well as a new Mustang. The investment will create 2,000 new jobs in its truck section, helping the company reach its target of 150,000 units...

Companies are trying their best to balance the work from home conundrum as cases of COVID-19 diminish. Work-life balance is so important in today’s workplace, it can affect company performance.  In a recent company memo, verified by maj...

The S&P 500 and the Nasdaq both entered the red in the last week as concerns that aggressive moves to control decades-high inflation might send the US economy into a recession. All three major US stock indexes have lost significant ground this...

US fashion retailer Abercrombie & Fitch delivered a net loss of $14.8 million for its first fiscal quarter, causing a whopping share price drop of 29%. The company said that logistics and product costs were weighing down sales. The apparel ret...

McDonald's opened its first restaurant in Moscow 30 years ago, but, after temporarily shutting down more than 800 restaurants following the invasion of Ukraine, the company has decided to exit Russia altogether. However, leaving the country will...

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 and th...

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 yield...

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...

The US Federal Reserve has raised its key interest rate by a substantial three-quarters of a point for a third straight time.The Fed’s move pushed its benchmark short-term rate to 3.25%, the highest level since early 2008. The central bank also signa...

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 d...

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 u...

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 raised the targeted...

China's exports and imports slowed in August, with growth badly missing forecasts as surging inflation hobbled overseas demand and more COVID-19 lockdowns disrupted local output.Exports climbed 7.1% in August from a year earlier, slowing from an 18.0...

US mortgage rates scaled their highest level in 14 years, edging closer to 6% this week, as the market priced in continued aggressive Federal Reserve interest rate hikes.The 30-year fixed mortgage rate averaged 5.89% during the week ending September...

Inflation in Turkey is set to climb to above 80% soon, more than 16 times the central bank’s official target. Analysts believe this will leave price expectations of Turkish consumers entrenched at elevated levels for years to come. For most of the ye...