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Australia Lifts Interest Rates, Pushing Mortgage Rates Higher

Australia Lifts Interest Rates, Pushing Mortgage Rates Higher

118
Economy news
06.12.2022

The Reserve Bank of Australia (RBA) on Tuesday raised its benchmark rate by 25 basis points to 3.1%. RBA Governor Philip Lowe cited persistently high inflation of 6.9% as the main reason for the hike. The central bank’s target inflation level lies be...

OPEC Continues Supply Cuts as West Sanctions Russian Oil

OPEC Continues Supply Cuts as West Sanctions Russian Oil

136
Commodities news
05.12.2022

The Organization of the Petroleum Exporting Countries (OPEC) and its allies will continue with their existing policy of carefully managing oil output. Sunday’s announcement came at the same time as new Western sanctions on Russian crude exports becam...

US Consumers Boost October Spending

US Consumers Boost October Spending

115
Economy news
02.12.2022

US consumer spending rose strongly in October while inflation settled, giving the economy a lift at the start of the fourth quarter as it squares up to headwinds from the Federal Reserve’s decisive monetary policy tightening. Meanwhile, the labor mar...

India’s GDP Growth Falls by Half in September

India’s GDP Growth Falls by Half in September

96
Economy news
01.12.2022

India has posted annual economic growth of 6.3% in its July-September quarter, less than half the 13.5% growth in the previous three months, as the economy takes its post-pandemic shape.GDP growth for the full fiscal year, which ends on March 31, is...

China’s Factory Activity Falls Amid Strict COVID Restrictions

China’s Factory Activity Falls Amid Strict COVID Restrictions

90
Economy news
30.11.2022

China’s factory activity slid in November for a second consecutive month, underlining the economic toll of the country’s punitive “Zero COVID” policies that have sparked mass protests in the country.China’s Purchasing Managers’ Index (PMI) dropped to...

Major Crypto Lender BlockFi Files for Bankruptcy

Major Crypto Lender BlockFi Files for Bankruptcy

131
Cryptocurrency news
29.11.2022

It is the type of development crypto insiders were hoping would not happen with crypto in so much trouble. Major cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection along with eight affiliates.It is the latest crypto casualty...

China Markets Fall as Protests Flare over COVID Lockdowns

China Markets Fall as Protests Flare over COVID Lockdowns

126
Stocks news
28.11.2022

China’s main stock indices and its currency opened the trading week lower on Monday, after significant protests against the country’s harsh COVID-19 restrictions shook investors.The benchmark Shanghai Composite fell 2.2% in early trading. The Shenzhe...

Will Crypto Collapse?

Will Crypto Collapse?

126
Cryptocurrency news
25.11.2022

The fall of crypto exchange FTX has led some people to wonder what it would take for the whole industry to collapse. The total market cap of cryptocurrencies is currently $820 billion. That is 70% below the peak of a year ago. When high-profile playe...

Bitcoin Falls to New Lows as Genesis Downplays Financial Trouble

Bitcoin Falls to New Lows as Genesis Downplays Financial Trouble

124
Cryptocurrency news
23.11.2022

Bitcoin briefly slid to its lowest level in two years this week after rumors that Genesis, the prominent digital-asset brokerage and lender, could be forced to file for bankruptcy if its ongoingcapital-raising efforts failed.The price of bitcointumbl...

Malaysian Currency Falls After Deadlocked Election

Malaysian Currency Falls After Deadlocked Election

143
FOREX news
22.11.2022

Malaysia’s stock market and national currency wobbled after an election resulted in the country’s first ever hung parliament. Parties must now form a coalition before an administrative deadline that expires in a few days, and thereafter must deal wit...

US Regulators Point Fingers at Each Other over FTX Collapse

US Regulators Point Fingers at Each Other over FTX Collapse

122
Cryptocurrency news
21.11.2022

In the aftermath of the fall of cryptocurrency exchange FTX, lawmakers and regulators in the US have started to point fingers at each other over the demise of the once $32 billion crypto empire.This has resulted in bickering among various regulators....

Britain Announces Higher Taxes and Spending Cuts

Britain Announces Higher Taxes and Spending Cuts

99
Economy news
18.11.2022

UK finance minister Jeremy Hunt presented his much-awaited budget plan aimed at saving £55 billion. Taxes are set to rise for everybody. The definition of who qualifies as a top earner has been widened to include more taxpayers. It will now take £125...

Retail Traders Flock to Bond Markets for Bigger Yields

Retail Traders Flock to Bond Markets for Bigger Yields

121
Economy news
17.11.2022

Retail investors are flooding the debt markets, hoping to take advantage of some of the highest bond yields in more than a decade. The US Federal Reserve’s decisive monetary tightening has caused the 10-year treasury bond yield to hover around 4% aft...

US Wholesale Inflation Eases for Fourth Straight Monthly Report

US Wholesale Inflation Eases for Fourth Straight Monthly Report

107
Economy news
16.11.2022

Wholesale prices in the US climbed 8% in October from last year, the fourth straight decline and another sign that inflation pressures are waning from previously high levels.The annual wholesale inflation figure is a reduction from the 8.4% in Septem...

London Cedes Position as Most Valuable Stock Market in Europe

London Cedes Position as Most Valuable Stock Market in Europe

120
Economy news
15.11.2022

The London bourse has surrendered its post as Europe's most-valuable stock market, with France supplanting it. A weak pound and worries of recession in the UK are thought to be some of the factors behind the development.It is the first time that Pari...