Economy

As upcoming economic data looms on the horizon, Federal Reserve Chairman Jerome Powell finds himself in a precarious position. While there may be temporary relief in some data points, the overall trend of sticky inflation and above-trend growth is undeniable. The recent slew of economic indicators since the beginning of the year has not been

The recent performance of US stock indexes has been rather turbulent, with the S&P 500 struggling to reach its March record high. Investors are particularly concerned about key inflation readings and upcoming earnings reports. A Federal Reserve Bank of New York survey revealed that Americans anticipate inflation to reach 3.3% in the next year, up

As the week kicks off, Wall Street is poised for a positive start with U.S. stock futures edging higher. The Dow futures contract, S&P 500 futures, and Nasdaq 100 futures all show gains, reflecting a positive tone in the market following a series of winning sessions and a strong week for the Dow Jones Industrial

Chinese companies have once again emerged victorious in the Iraqi oil and gas exploration sector, securing five more bids to explore new fields. This comes as no surprise, as Chinese companies have been the sole foreign players to win bids in this round, with licenses covering a total of 10 oil and gas fields. Additionally,

Australia’s government recently announced updated inflation projections, indicating a faster than expected moderation to the central bank’s target range of 2%-3% by the end of the year. While the previous forecast in December suggested that consumer price inflation would slow to 3.75% by mid-2024 and 2.75% by mid-2025, the new projection anticipates that headline inflation

As investors eagerly await the CPI numbers on 13 May 2024, projections indicate that India’s retail inflation is likely to remain stable at around 4.8% in April 2024. This forecast comes after a slight dip in March, attributed to lower gasoline prices. There is a possibility that the year-on-year inflation rate could touch 5.0% once

The Australian Treasurer, Jim Chalmers, has expressed his expectations that the upcoming federal budget will help alleviate the country’s persistent issue of high inflation. With consumer inflation reaching 3.6% in the first quarter and projected to rise to 3.8% by June, there is a pressing need for measures to address this economic challenge. The Reserve

The body camera footage captured the intense reactions of the first responders who arrived at the scene of the collapsed Francis Scott Key Bridge in Baltimore. The videos, which were released by local media, show the disbelief and shock of the officers from the Maryland Natural Resources Police as they approached the site where the

Billionaire investor Kenneth Griffin recently spoke out against the turmoil on college campuses, specifically targeting his alma mater, Harvard University. In an interview with the Financial Times, Griffin emphasized the importance of embracing “Western values” in education. He expressed his concern that the U.S. has veered away from the core principles of pursuing truth and

U.S. Senator Elizabeth Warren has been vocal this week in her call for the Treasury Department to address racial discrimination in the U.S. tax and banking systems more swiftly. The Treasury Advisory Committee on Racial Equity (TACRE), which was set up in December 2022, has made over 40 recommendations to date. However, Warren expressed concerns

Oversea-Chinese Banking Corp (OCBC) recently reported a 5% increase in first-quarter profit, exceeding market expectations. In addition to this, the bank made a significant move by offering to take its insurer arm Great Eastern private with a S$1.4 billion ($1.04 billion) bid. This bold move showcases OCBC’s strategic approach to consolidating its position in the

Panama’s president-elect, Jose Raul Mulino, is gearing up to tackle the unprecedented challenges posed by a severe drought affecting the Panama Canal’s water capacity. To address this issue, he plans to seek approval for a law that would allow the canal to construct significant water reservoirs. This bold move aims to secure the water supply