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This year’s rollercoaster ride for oil prices continues, with prices recovering from a brief sell-off to gain last week, driven by renewed optimism around demand from top oil importer China.Brent crude futures rose 1.4% to settle at $86 a barrel. ...

Bitcoin edged above $23,000 after Federal Reserve Chair Jerome Powell, speaking at an economics forum, said that inflation was lowering.The world’s biggest cryptocurrency climbed 1% to $23,236.80 while Ethereum rose 1.3% to $1,667.63. Bitcoin had been struggling to break back ...

China has announced its least ambitious GDP growth target in decades, a sign that the world’s second largest economy is facing significant domestic and global challenges. Economic officials announced a 2023 GDP growth target of just 5%, while acknowledging the ...

Silvergate Capital Corp., a traditional bank that positioned itself as a key settlement firm in the crypto world, announced last week it was discontinuing its crypto payments network. The firm, which combines fiat money services with digital-asset services, acts as ...

US Treasury yields rose this week as investors waited for new economic data and braced themselves for additional interest rate hikes by the Federal Reserve.The yield on the benchmark 10-year treasury climbed by seven basis points to 4.066%. The two-year ...

Tesla CEO Elon Musk, fresh from regaining his position as the world’s richest man, presented his “Master Plan 3” to investors. Among the topics Musk covered included how Tesla plans to scale its sales and operations, as well as how ...

There is growing evidence that market participants, policymakers and even a few economists have been hasty to declare victory on behalf of the US Federal Reserve in the fight against inflation.Now, an increasing number of economic data releases are giving ...

People born between 1981 and 1996, commonly referred to as millennials, have accumulated record-high debt of more than $3.8 trillion at the end of 2022, up a whopping 27% from 2019.During the COVID-19 pandemic, household debt was flat as government ...

Meta Platforms Inc said this past week it was releasing a new large-language model, the main software behind its artificial intelligence (AI) system. It signals a heating up of the AI “arms” race as technology companies scramble to integrate AI ...

Scammers are taking advantage of the recent craze surrounding artificial intelligence (AI) chatbots by launching and selling fake crypto coins named after Microsoft’s chatbot ChatGPT. Blockchain analysis firm Peckshield reported that in the first seven weeks of 2023 alone, many dozens ...

Hong Kong’s COVID-ravaged economy will return to positive growth territory this year and expand by between 3.5% and 5.5%, as the city opens up and its major trading partner China’s economic prospects improve.The Asian financial hub was buffeted by a ...

January retail sales in the US jumped by the most in almost two years, after two straight monthly declines. According to the Commerce Department, retail sales bolted 3% last month, the biggest increase since March 2021.Data reveals that American consumers ...

The tech industry is reeling from an economic downturn, with many major firms announcing significant layoffs. With two months of 2023 yet to be completed, 108,346 employees from 380 tech companies have been cut in widespread layoffs. This figure already ...

Natural gas prices in Europe have slid to their lowest levels in almost a year and a half, a clear sign that the region has avoided a much-feared energy crisis.Benchmark wholesale gas prices dropped nearly 5% last week to hit ...

The UK’s annual inflation rate slid for a third month in a row, with January’s figure relieving pressure on the Bank of England (BOE) to raise interest rates, even though inflation remains in double digits and is close to the ...