The United States economy has showcased remarkable resilience, boasting a 2.4% growth in the second quarter. This impressive figure has not only surpassed economists' projections but has also alleviated concerns of a potential recession amid rate increases. As a result, global equity markets experienced a sharp decline, while the dollar saw a significant boost. To...
Oil prices have experienced a significant boost, registering a nearly 2% increase, marking the fourth consecutive weekly surge. The ongoing price rally was primarily triggered by supply shortages anticipated in the coming months, coupled with escalating tensions between Russia and Ukraine. At the close of trading, the settlement price for Brent crude futures settled at...
Global public debt soared to an unprecedented $92 trillion, a staggering outcome primarily attributed to substantial government borrowing during emergencies like the COVID-19 pandemic. This astronomical figure reveals a concerning trend, with both domestic and external debt having multiplied by over five times since 2002, vastly outpacing economic growth, which has merely tripled during...
In the run-up to the eagerly awaited US inflation data, which could potentially impact expectations for a Federal Reserve rate hike, global stocks displayed resilience, forging ahead, while the dollar experienced a retreat. On Tuesday, the Dow Jones Industrial Average surged by an impressive 0.93 percent, accompanied by gains of 0.67 percent for the S&P...
Meta Platforms has launched its own microblogging platform called Threads, aimed at rivalling Twitter. Within hours of its release, the platform has garnered significant attention, drawing in millions of users eager to explore its features and potential. Mark Zuckerberg, the chief executive officer of Meta, announced that Threads received an astonishing 10 million registrations in...
In the second quarter of 2023, global merger and acquisition (M&A) activity experienced a significant decrease of 36% compared to the same period in the previous year, reflecting mounting concerns and uncertainties in the global economy. The total value of M&A transactions also witnessed a decline, dropping from $1.14 trillion in Q2 2022 to...
Oil prices experienced a downward trend as Brent crude settled down 0.4% and U.S. West Texas Intermediate (WTI) crude fell 0.5%, closing at lower prices. Several factors contributed to this decline, including the increase in interest rates by major central banks, disappointing Chinese stimulus data, and weakening economic indicators in the United States. The...
The lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance and its CEO Changpeng Zhao has sent ripples through crypto markets, with a number of share prices tumbling within the industry. The SEC's charges against Binance include allegations of artificially inflating trading volumes and evading U.S. laws. The lawsuit claims that...
In response to the potential reduction in airline capacity, the International Air Transport Association (IATA) has called on aircraft manufacturers to expedite plane and component production. Willie Walsh, the director general of IATA, disclosed that during a recent meeting held in Istanbul, concerns over production delays were raised by airline CEOs from around the...
Tuesday, the Canadian AI computer design startup Tenstorrent announced a partnership with the South Korean consumer electronics company LG Electronics Inc (066570.KS) to develop processors that power smart TVs, automobiles, and data centers. CEO Jim Keller stated in an interview that Tenstorrent was founded in 2016 and develops both software and hardware for training and...
