Last News

So far this year, OPEC+ members have reduced operating oil capacity by over 5 million barrels per day. This equates to roughly 5% of global production.OPEC+ is mulling additional supply cuts, to be discussed at its next meeting. The move ...

The victory of political outsider Javier Milei in Argentina’s presidential ballot has serious repercussions for the country’s struggling economy, including the embattled peso.A libertarian and former financial analyst who campaigned on a vow to drastically shake things up, Milei plans ...

Siemens Energy posted an annual loss of $4.9 billion in its earnings report released this week. The company’s wind turbine unit, Siemens Gamesa, is primarily responsible for the poor results.The German government is committed to ensuring that the country’s energy ...

Cisco Systems shares were down as much as 13% in extended trading on Wednesday after the networking hardware maker issued a dampened forecast for the current quarter and the full fiscal year.Revenue increased by 7.6% in the fiscal first quarter, ...

The European Commission this week tempered its eurozone growth expectations for 2023 and 2024, saying the high cost of living and interest rates were dragging down consumers and businesses.It adjusted its 2023 growth forecast to 0.6%, removing 0.2 percentage points ...

South Korean auto giant Hyundai Motor has started construction on a $1.5 billion mega factory in that country that will produce only electric vehicles.The group, which owns the Hyundai and Kia brands, conducted a much-publicized groundbreaking ceremony this week in ...

Moody’s on Friday lowered its rating outlook on the United States government to negative from stable, pointing to rising risks to the nation’s fiscal strength.The rating agency noted that the country is not demonstrating effective fiscal policy measures to reduce ...

Gross domestic product in the United Kingdom was flat for the last quarter. After an increase of 0.2% in the previous quarter, the three months to the end of September yielded zero growth.Expressed annually, Britain’s third-quarter GDP was just 0.6% ...

Bitcoin climbed to a fresh 2023 high on Thursday as excitement around a likely Bitcoin ETF approval grew toward a fever pitch.The price of the world’s top cryptocurrency climbed more than 3.5%, to touch $37,000 for the first time since ...

Microsoft closed Tuesday’s trading session at record highs of $360.53, after renewed excitement about growth from an important partner in artificial intelligence. The 1.12% daily jump gives the technology giant a market value of about $2.68 trillion.Key U.S. indices all ...

Bitcoin, the world's largest crypto asset by market capitalization, has shown impressive resilience and notable growth, outshining traditional assets with its value ballooning by more than 110% since January.The latest excitement around Bitcoin is driven by anticipation of the Securities ...

Saudi Arabia’s economy has slowed markedly after the world’s biggest crude oil producer cut output to shore up prices.Saudi gross domestic product contracted 4.5% year-over-year in the third quarter of 2023. That’s the largest shrinkage since the COVID-19 pandemic in ...

India’s economy is showing signs of growth at a time when China, which has been the engine of global growth for decades, is seeing a major economic slowdown. India aspires to be a potential successor. From a restless young population ...

Oil giant Shell this week reported a $6.2 billion profit for the third quarter, in line with estimates, as the company received a boost from higher oil prices and refining margins.Profit was higher than the $5.1 billion in the second ...

Bitcoin, the world’s biggest cryptocurrency in terms of market value, has broken records as it now boasts the highest number of profitable wallet addresses on record, even though its price is still 50% behind its all-time high.Last week, Bitcoin's price ...