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The S&P 500 and the Nasdaq both entered the red in the last week as concerns that aggressive moves to control decades-high inflation might send the US economy into a recession. All three major US stock indexes have lost significant ...

Several influential analysts are predicting a major crisis in the value of the UK’s Pound Sterling. It is expected that the British currency will come off badly as it faces such competing forces as its widening current account deficit, a ...

Bitcoin was showing signs of recovery after being marooned below the key $30,000 level for the past week. Other major cryptocurrencies followed suit. The market’s largest cryptocurrency climbed as much as 4.4% to $30,441.43 at one point. Bitcoin has been ...

Despite the price of Bitcoin and Ethereum taking a major drop in recent times, the Formula One (F1) racing industry cannot get enough of crypto. Eight out of the 10 teams featuring in this year’s prestigious motorsport series have a ...

New Zealand's central bank announced a fifth straight interest rate hike this week and hinted at a much more aggressive monetary policy tightening as central bankers try to tame runaway inflation. The Reserve Bank of New Zealand (RBNZ) lifted the ...

US fashion retailer Abercrombie & Fitch delivered a net loss of $14.8 million for its first fiscal quarter, causing a whopping share price drop of 29%. The company said that logistics and product costs were weighing down sales. The apparel ...

Central bankers meeting at a roundtable discussion at Davos, organized by the World Economic Forum (WEF), have questioned crypto’s place in the global economy.  Some of the comments emanating from a panel of central bankers and regulators are that stablecoins ...

In April, China's monthly imports from Russia hit a record high of US$8.9 billion. This was an increase of 57% from the year before and 13% higher than March. At face value, it may appear that China is importing more ...

India is working on developing a digital version of the rupee. It becomes the latest nation to join the push to create a state-backed virtual currency. The country's central bank hopes to launch the digital currency in the new fiscal ...

Inflation in the UK leapt to its highest annual rate since 1982, putting severe pressure on Finance Minister Rishi Sunak to do more to help families facing a cost-of-living crisis. Consumer price inflation touched 9% in April, recalling the peaks ...

Japan's economy contracted for the first time in two quarters, as COVID-19 curbs affected the performance of the services sector, and the Ukraine war continued to inflate commodity prices and create headaches for consumers.  The world’s third-largest economy fell at ...

McDonald's opened its first restaurant in Moscow 30 years ago, but, after temporarily shutting down more than 800 restaurants following the invasion of Ukraine, the company has decided to exit Russia altogether. However, leaving the country will not come cheap. ...

China has posted troubling economic data for April, revealing the severe damage COVID lockdowns have wreaked on the country. The world's second largest economy reported alarming drops in retail sales and manufacturing production, falling short of many market predictions. Retail ...

Tether, the world’s biggest stablecoin that pegs its value one-to-one with the US dollar, is losing value and can no longer maintain its equal pegging.  Stablecoins are usually a place of safety for crypto investors during times of turbulence. With ...

Several business groups in Sri Lanka have asked the president to install a new government and resign immediately thereafter. With little more than $50 million in foreign exchange reserves, Sri Lanka is basically bankrupt and dependent on external aid and ...