China's Shipments Surge After Six-Month Slump, Bringing Relief to Factories
For the first time in six months, China's exports increased in November, indicating that manufacturers in the second-biggest economy in the world are drawing customers with low prices in an effort to recover from a protracted decline in demand.
Dec 07, 2023 06:49 AM EST
CEOs Urge Lawmakers: Pump the Brakes on Regulations, Risk Economic Fallout
The heads of Wall Street's largest banks appeared on Capitol Hill on Wednesday to ask senators to stop the Biden administration's proposed changes to how banks are regulated, warning that the new proposals could harm the economy at a time of geopolitical turmoil and inflation.
Dec 06, 2023 07:29 PM EST
US Consumers Face a Tsunami of High Interest Rates and Mounting Credit Card Debt
Next year, the U.S. economy should be able to escape a recession, but economist Carl Weinberg says one of the biggest dangers to that outcome is a significant decline in consumer spending.
Dec 06, 2023 10:33 AM EST
Twitch to Pull the Plug on South Korean Operations Amidst Mounting Costs
Due to excessive operational expenses and network fees, Twitch, the streaming division of Amazon, said on Tuesday that it will cease operations in South Korea in February of the next year.
Dec 06, 2023 07:50 AM EST
High-Speed Rail to Connect Vegas and LA Thanks to $3 Billion Grant
The Biden administration pledged $3 billion on Tuesday to assist start constructin track for a planned high speed rail connection between Las Vegas and the Los Angeles area, Nevada elected leaders said.
Dec 05, 2023 09:47 PM EST
Pakistanis Grapple with Inflation as Floods and Politics Fuel Cost Crisis
The prolonged economic crisis has affected millions of Pakistanis, as the nation receives its 23rd bailout from the International Monetary Fund (IMF) since 1958.
Dec 05, 2023 10:50 AM EST
Nokia Stumbles After Losing AT&T, Shares Hit Three-Year Low
Nokia's stock fell to a three-year low after the telecom giant missed out on a significant agreement to launch a new network in the United States alongside AT&T, the industry titan.
Dec 05, 2023 10:33 AM EST
Supreme Court Case Threatens Billionaire Taxes, Could Unleash Chaos on U.S. Finances
On Tuesday, the Supreme Court will hear arguments in a much-awaited case that some fear might have far-reaching effects on the US tax system and derail Democratic attempts to impose a wealth tax.
Dec 05, 2023 08:15 AM EST
China's State Banks Eye Strategic Dollar-Yuan Swaps
China's biggest state-owned banks were observed on Tuesday exchanging dollars for yuan in the onshore swap market and then selling those dollars in the spot market to strengthen the yuan.
Dec 05, 2023 08:07 AM EST
Spotify Embarks on Third Round of Layoffs, Slashing 17% of Workforce
Spotify has announced the termination of 17% of its worldwide personnel, the music streaming service's third wave of layoffs this year as it works to cut expenses while concentrating on profitability.
Dec 05, 2023 01:17 AM EST
US Inflation Expected to Ease Further, Recession Fears Diminish
According to a study issued on Monday, the majority of business economists believe that even if the employment market eventually weakens due to rising interest rates, the U.S. economy might escape a recession in 2024.
Dec 04, 2023 09:31 AM EST
Maersk Makes Strategic Investment to Fortify South-East Asia's Supply Chain Resilience
Maersk, a Danish shipping giant, said on Monday that it will invest more than $500 million to develop its South-East Asian supply chain infrastructure.
Dec 04, 2023 09:09 AM EST
Gold Surges Past $2,100, Signaling a New Era of High Prices
For the second day in a row, gold prices broke beyond $2,100 on Monday, as the world's appetite for metal looks certain to persist.
Dec 04, 2023 07:08 AM EST
Bitcoin Climbs to $40,000, Fueling Optimism in Crypto Markets
For the first time this year, Bitcoin has above $40,000 as traders await the upcoming approval of U.S. stockmarket-traded bitcoin funds and the widespread excitement surrounding U.S. interest rate reduction.
Dec 04, 2023 04:53 AM EST
Alaska Air Acquires Hawaiian Airlines in $1.9 Billion Deal
Alaska Airlines said on Sunday that it has reached an agreement to acquire Hawaiian Airlines for $1.9 billion, including debt, positioning the airline for possible conflict with the Biden administration, which has expressed apprehension over increased sector rates.
Dec 03, 2023 11:23 PM EST