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The White House and Republicans in Congress are locked in a standoff over the US debt limit. The debt ceiling is the maximum amount of money Congress allows the federal government to borrow to cover its bills. Treasury Secretary Janet ...

The price of Bitcoin fell sharply after Binance, one of the biggest crypto exchanges in the world, experienced congestion on the Bitcoin network that temporarily led to withdrawals being halted.Bitcoin fell by about 4% to $27,787.05 in Monday’s trading. This ...

The US labor market gained 253,000 jobs in April, a surprising increase at a time when manyexpected a slowdown in the job market.The unemployment rate slid to 3.4% — matching a half-century low hit in January — from 3.5% the ...

The price of gold flirted with record highs this week as US banking concerns increased, causing a flight to the safe-haven asset that was already being boosted by bets for a pause in US rate hikes.The spot price of gold ...

US Federal Reserve Chairman Jerome Powell has announced that the central bank has hiked interest rates for the 10 th straight time since March 2022. However, he indicated that a pause in rate hikes may be imminent under the right ...

The eurozone’s annual inflation climbed to 7% in April, a surprising development after the reading fell for five consecutive months.Although the increase was small, 0.1% up from 6.9% in March, analysts feel it could be enough to prompt the European ...

JPMorgan Chase has announced that it is buying most of the assets of First Republic Bank, confirming the second-largest bank failure ever in the US.The US government invited several leading US banks to make offers to take over the assets ...

Amazon, Microsoft and Google Face Cloud Revenue CutsEarnings data from Amazon, Microsoft and Google last week showed that clients are still looking for ways to curb their spending on cloud costs.Year-on-year growth at Amazon Web Services slowed to 16% from ...

The US economy weakened noticeably in the first quarter, measured from January through March. The US Department of Commerce released figures showing that, over the period, the economy slowed to an annual pace of just 1.1%, a marked deceleration from ...

Investors on Wall Street expressed relief as Google-parent company Alphabet joined Microsoft in beating market earnings expectations. Alphabet reported a 3% total year-on-year revenue increase, while Microsoft reported a near 9% bump. After a disastrous year for both stocks, their shares ...

Microsoft reported an earnings boost this week that had positive effects on the firm’s stock price. Shares of the company climbed 9% in Tuesday’s trading after the technology giant reported third-quarter results that exceeded most analysts’ predictions.Microsoft’s earnings per share ...

The troubles affecting the global banking sector may have faded into the background, but that does not mean the effects of recent disruptions are no longer evident. Credit Suisse said on Monday that $68 billion in assets have left the ...

Big-tech giants Microsoft, Meta, Alphabet and Amazon are all expected to report earnings this coming week. Investors in key markets will be watching closely as global focus moves away from bank earnings.With lingering uncertainty about the Federal Reserve’s plan to ...

The EU Parliament has passed a groundbreaking cryptocurrency bill known as the Markets in Crypto Act (MiCA). The legislation will become law in 2024, putting the EU ahead of the US and UK. The legislation will primarily protect crypto traders by ...

UK inflation stayed above 10% in March, much higher than inflation in the US and Europe. Food prices climbed sharply, with bread prices rising at a record pace.Consumer prices in the third month of the year climbed 10.1% compared to ...