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The EU has slapped a ban on Russian diesel fuel and other refined oil products in a move designed to cut energy dependency on Moscow while also reducing the Kremlin’s fossil-fuel earnings.The ban comes as punishment over Russia’s invasion of Ukraine...

US treasury yields jumped higher last Friday after a report showing that job growth surged in January, further exacerbating the Federal Reserve's attempts to soften the labor market to bring inflation down.The yield on 10-year treasury notes was up 1...

Apple, the world’s most valuable brand, missed expectations for revenue and profit for the holiday quarter. Overall sales were about 5% lower than the year before, the first year-on-year sales decline since 2019.  Explaining the results, CEO Tim...

The EU this week unveiled plans for its “Green Deal,” a package designed to cut red tape and deliver tax breaks to companies adopting net-zero technologies. Europe’s plan comes in response to the Biden administration’s massive green subsidy program.T...

Crypto markets were wobbling as the Federal Reserve's two-day policy meeting started on Tuesday. Bitcoin suffered its biggest single-day percentage fall in more than two months, sliding 4.5% to trade at around $22,600. Investors are keenly watch...

China intends to increase the retail price of gasoline and diesel this week in response to rising international oil prices. Gasoline and diesel prices will go up by 250 yuan (US$37) per ton and 240 yuan (US$36) per ton, respectively.Some analysts bel...

The Federal Reserve places great store in consumer spending as a barometer of how hot the economy is running. US consumer spending dropped in December, providing evidence that the Fed’s series of interest rate increases are cooling the economy.On Fri...

High inflation and fears over a global recession have led to softening worldwide demand for smartphones, shipments of which have declined to a low not seen since 2013. Global smartphone shipments plunged in the fourth quarter of 2022, usually a...

Bitcoin, the world’s largest cryptocurrency, continued its recent climb as opportunistic investors continued to bet that the Federal Reserve will ease its pace of interest rate increases or stop them altogether.The price of the digital currency rose...

The UK’s Purchasing Managers Index (PMI) survey for January showed the sharpest drop in business activity since COVID lockdowns two years ago, as the combination of high interest rates and low consumer demand dampened activity.The PMI reading fell to...

Home sales in the US are on a major decline. December marked the 11th straight monthly fall in sales of existing homes, the longest streak since 1999.Driven by the US Federal Reserve’s fastest interest rate-hiking cycle since the 1980s, the US housin...

Dutch central bank chief Klaas Knot, a Governing Council member of the European Central Bank (ECB), has said the central bank will carry on with half-point interest-rate increases at the next two meetings.In a recent interview, Knot said the time to...

Inflation is slowing in Canada, leading to hopes that an expected increase in interest rates next week may be the last one for some time.The consumer price index rose 6.3% in December from a year ago, down from 6.9% in November. The 0.6% month-to-mon...

Microsoft Corporation intends to cut thousands of jobs, with some of the roles eliminated expected to come from key divisions like human resources and engineering.The layoffs would underscore a worrying trend among US technology firms. Amazon and Met...

The Bank of Japan (BoJ) this week kept ultra-low interest rates intact, upsetting market projections that it would respond to rising inflationary pressure by erasing its stimulus program. The central bank also announced it would continue to cap bond...